The Arkansas 2012 cash soybean market gained 17 cents over the weekend break to open trading on Monday at $13.91 and scarcely looked back during a week of steadily higher daily prices. Unlike the previous week when price trended steadily down, the market had only a slight pause on Wednesday before climbing to a Friday closing price of $14.22 (Figure 1). The closing price represented an overall 48 cent net gain from the previous Friday closing average and more than offset the losses of the previous week. Market reports are now being received at all fourteen regular markets for old crop prices. Highest individual daily market price for the week was $14.48 at both West Memphis and Old Town/Elaine on Friday. Low individual daily price of the week was $13.61 on Monday at Jonesboro with Augusta at $13.62 and Des Arc at $13.63. Individual market quotes on the last trading day ranged from a low of $13.86 at Jonesboro to the $14.48 high at both West Memphis and Old Town/Elaine. The closing day price spread expanded by 10 cents over the previous week gap and now stands at 62 cents.
Old crop beans enjoyed a steadily higher week of price quotes, but the new crop beans market did not exhibit the same strength. The 2013 New Crop Booking Price market gained 4 cents over the weekend to open at $12.30, but then proceeded to trade within a 10 cent range for the remainder of the week (Figure 2). New Crop beans closed on Friday at the same $12.30 mark seen on Monday, a mere 4 cent improvement over the previous Friday close. High individual daily market average for the week was $12.65 at Helena on Tuesday. The low market of the week was reported from Jonesboro for the tenth straight week. The price this time was $11.96 at Jonesboro on Tuesday with Augusta at $11.98. Those two quotes were the only sub-$12 quotes anywhere in the state for the past week. The last day of trading quotes across all fourteen state markets ranged from a $12.01 low at Jonesboro to a high of $12.55 at Helena. These quotes left the statewide closing day price range 2 cents wider at 54 cents compared to the previous end-week gap.
(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.)