A 13 cent weekend loss left the Arkansas 2012 cash soybean market at a Monday opening average of $14.21, but the market posted consecutive gains through most of the week before suffering a downward correction on Friday to close with a statewide average of $14.42, an overall 8 cent improvement from the previous Friday average (Figure 1). The prices for the past week left the market with four weeks of gains on old crop beans over the past five weeks. Highest individual daily market price for the past week was $14.85 at Blytheville, Helena, and Osceola on Thursday with West Memphis surging ahead on Friday to $14.84. Low individual daily price of the week was $13.72 on Monday at Jonesboro with Des Arc at $13.74. Individual market quotes on the last trading day found all fourteen markets above the $14.00 level. Prices ranged from a low of $14.02 at Jonesboro to the $14.84 at West Memphis. The closing day price spread narrowed to 82 cents, a 10 cent decrease from the previous week gap.
The New Crop Soybean Market had a less volatile week than old crop beans. A 13 cent weekend loss seemed to take the life out of the market as trading for the week stayed within a 13 cent range, and ended the week 14 cents lower than the previous weekly closing average. After the lower trading on Monday, the daily average fluctuated most of the midweek to a high daily average of $12.17 on Thursday before falling off on Friday to a $12.04 close, 14 cents less than the previous Friday closing average. High individual daily market average for the week was $12.37 at Helena and West Memphis on Thursday. The low market of the week was reported from Augusta on Friday at $11.78. The last day of trading quotes across state markets found six of the fourteen markets under the $12.00 level, twice the number of the previous week’s ending quotes. Ending prices for the week ranged from the $11.78 low at Augusta to a high of $12.24 at both West Memphis and Helena. These quotes left the statewide closing day price range at 46 cents, a narrowing of 3 cents from 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.)