A generally steady week in the Arkansas 2012 cash soybean market changed dramatically in the past week as the market lost 16 cents over the weekend break, surged 29 cents in early weekday trading, and then lost most of its gains to finish lower compared to the previous week (Figure 1). Monday posted an opening statewide average of $15.34 after the 16 cent fall. The early week surge took trading to a $15.63 high before losing 31 cents on Thursday toward a $15.38 Friday closing statewide average. The overall change compared to the previous Friday closing mark was a 12 cent loss. This decline broke the market winning streak of eight weekly gains over the past nine weeks of trading. Highest individual daily market price reported over the past week was $15.81 at Pendleton on both Tuesday and Wednesday. Low individual daily price of the period was $15.04 on Thursday at Augusta. Individual market quotes on the last trading day found all markets trading above $15.00. Prices ranged from $15.11 at Augusta to $15.57 at Pendleton. The closing day price spread was 46 cents, 4 cents wider than the previous Friday margin.
Like the Old Crop Soybean Market, new crop beans lost over the weekend (11 cents) and then showed some early week gains. The strength was short lived as the market declined steadily after Tuesday to end the week on Friday at $12.99, an overall 32 cent loss from the previous Friday close and the first sub-$13.00 daily average in two weeks (Figure 2). High individual daily market average for the week was $13.48 at Helena on Tuesday. The low daily market price of the period was reported on Friday with $12.73 at both Augusta and Des Arc. The last day of trading quotes across state markets found only half of the fourteen markets above the $13.00 level. Ending prices for the week ranged from the $12.73 low at both Augusta and Des Arc to a $13.19 high at Helena. These quotes again left the statewide closing day price range at 46 cents for the fourth straight week.
(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.)