A 4 cent decline over the weekend proved to be a vision of things to come as the Arkansas 2012 cash soybean market trended steadily lower through much of the past week bottoming out on Friday (Figure 1). Monday posted an opening statewide average of $15.34 for the second straight week. The down trend was only briefly reversed on Wednesday before losing all of the day’s gains and eventually falling to a $15.14 Friday closing statewide average. The overall change compared to the previous Friday closing mark was a 24 cent loss. Highest individual daily market price reported over the past week was $15.63 at Pendleton on Wednesday. Low individual daily price of the period was $14.87 on Friday at Augusta as four markets fell under the $15.00 level. Individual market quotes on the last trading day found all markets ranging from the low of $14.87 at Augusta to $15.33 at Pendleton. The closing day price spread was 46 cents, unchanged from the previous Friday margin.
Last week’s Friday decline below the $13.00 level in the New Crop Booking Market was continued this past week as new crop beans lost 12 cents over the weekend and never really established a firm trend for the week. Price actually rose through Wednesday before entering a decline that left it on Friday at $12.75, an overall 24 cent loss from the previous Friday close (Figure 2). High individual daily market average for the week was $13.32 at Helena on Wednesday. The low daily market price of the period was reported on Friday with $12.49 at both Augusta and Des Arc. The last day of trading quotes across state markets found all of the fourteen markets below the $13.00 level. Ending prices for the week ranged from the $12.49 low at both Augusta and Des Arc to a $12.95 high at Helena. These quotes again left the statewide closing day price range at 46 cents for the fifth 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.)