The sharp daily downward trend of the previous week in the Arkansas 2012 cash soybean market seemed to continue in early week trading as the market lost 16 cents over the weekend to open at $14.21 and fell another 4 cents on Tuesday. But a midweek rally took the market to a weekly peak of $14.59 on Thursday. Friday saw an 8 cent correction down to a closing statewide average of $14.51. The close left the market with a 14 cent net gain over the previous Friday closing average (Figure 1). Highest individual daily market price for the week was $14.84 at Old Town/Elaine on Thursday. Only nine of the fourteen state markets are providing old crop price quotes. Low individual daily price of the week was $13.90 on Tuesday at Jonesboro. Individual market quotes on the last trading day ranged from a low of $14.24 at Jonesboro to a high of $14.76 at Old Town/Elaine. The closing day price spread was 52 cents, a narrowing of 5 cents from the closing day distribution of the previous week.
The 2013 New Crop Booking Price market had less variability than the old crop market during the past week. New Crop beans lost 2 cents on Monday over the previous Friday close and another 2 cents on Tuesday before moving higher on both Wednesday and Thursday to a peak of $12.73. Even an 11 cent decline on Friday left the market with a 3 cent net gain for the week (Figure 2). High individual daily market average for the week was an even $13.00 at Old Town/Elaine on Thursday. The low market of the week was reported from Jonesboro for the seventh straight week. This time, the price was $12.26 on Tuesday. The last day of trading quotes found all fourteen state markets well below the $13.00 level. Reported market prices ranged from a $12.34 low at both Jonesboro and Augusta to a high of $12.89 at Old Town/Elaine. These quotes again held the statewide closing day price range unchanged at 55 cents.
(Market average prices stated in this report are unweighted averages of the state markets surveyed by NASS. Price data was based on USDA LR GR111 Arkansas Daily Grain Reports.)