The Arkansas 2012 cash soybean market continued to have limited price tests as only one market provided quotes for Monday and Tuesday and only two markets on Wednesday through Friday (Figure 1). The immediate past week began with only Wynne providing a quote and Little Rock joined it on Wednesday. The Wednesday average of the two markets was $14.96, a $1.128 decrease from one week earlier on the same day. The market fell to $14.87 average on Thursday before rising to $15.05 on Friday. The Friday average closing price was $1.15 under the previous week’s Wednesday quote, the last day of the previous week with multiple market price quotations. The absence of a group of reporting markets leaves us with only a light test of the true market movements and average prices.
The New Crop Soybean Market showed considerable strength early in the past week with a 9 cent gain over the weekend to open at $12.68 followed by a 22 cent gain on Tuesday before losing momentum and declining for the remainder of the week (Figure 2). The closing price on Friday was $12.78, a 19 cent improvement from the previous Friday close. High individual daily market average for the week was $13.10 at Helena on Wednesday. Six of the fourteen reporting markets exceeded the $13.00 level at least one day of the past week. The low daily market price of the period was reported on Monday with $12.39 at Des Arc. The last day of trading quotes across state markets found all fourteen markets below the $13.00 level. Ending prices for the week ranged from a $12.49 low at Des Arc to a $12.98 high at Helena. The quotes left the statewide closing day price range at 49 cents, two cents 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.)