The weakness and decline of the previous three weeks was quickly forgotten as the Arkansas 2012 cash soybean market posted a strong weekend gain and rose every day through the entire week (Figure 1). Market price gained 14 cents over the weekend to a Monday opening statewide average of $15.33. Double digit gains were reported for all but one trading day and the market finished with a $15.85 Friday closing statewide average, 71 cents above the previous Friday closing mark. Highest individual daily market price reported over the past week was $16.01 at Blytheville, Helena, and Osceola on Friday. Low individual daily price of the period was $15.06 on Monday at Augusta. Only eight of the fourteen state markets are continuing to provide old crop quotes. Individual market quotes on the last trading day found reporting markets ranging from a low of $15.59 at Augusta to the high of $16.01 at Blytheville, Helena, and Osceola. The closing day price spread was 42 cents, 4 cents narrower than the previous Friday margin.
The New Crop Booking Market took a different path from the old crop trading. Market price was unchanged over the weekend, opening at $12.75. Price hovered between that average and $12.80 through much of the week before declining sharply in Friday trade (Figure 2). The market closed the week with a statewide average of $12.53, a loss of 22 cents from the previous Friday close. High individual daily market average for the week was $12.99 at West Memphis on Tuesday with Helena at $12.98. The low daily market price of the period was reported on Friday with $12.25 at Augusta. Des Arc finished the week at $12.27. The last day of trading quotes across state markets found all of the fourteen markets below $13.00 and above $12.00. Ending prices for the week ranged from the $12.25 low at Augusta to a $12.72 high at West Memphis. These quotes left the statewide closing day price range at 47 cents, one cent wider than the previous 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.)