The Arkansas 2012 cash soybean market is rapidly deteriorating. During the past two weeks of trading, the number of reporting markets has fallen from eight to only one. The immediate past week began with the two reporting markets (Wynne and Little Rock) opening at $16.28, a 22 cent increase above their previous Friday close. The market rose to $16.36 average on Tuesday before falling to $16.24 on Wednesday (Figure 1). No quote was available on Thursday and Friday from Little Rock leaving the market not well tested and casting doubt on the probability of future quotations.
The New Crop Soybean Market showed considerable strength during the past week before suffering a sharp, last-day decline. The market gained 24 cents over the weekend to post a $12.53 statewide average on Monday. Price then proceeded to rise each day to an average of $12.92 on Thursday before crashing 33 cents lower on Friday to $12.59, still an overall 30 cent gain over the previous Friday close (Figure 2). High individual daily market average for the week was $13.11 at West Memphis on Thursday with Helena at $13.10. The low daily market price of the period was reported on Monday with $12.25 at Augusta and $12.27 at Des Arc. The last day of trading quotes across state markets found all fourteen markets well below the $13.00 level. Ending prices for the week ranged from a $12.30 low at Augusta to a $12.77 high at West Memphis and Pendleton. The quotes left the statewide closing day price range at 47 cents, unchanged for the third 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.)