The Arkansas 2012 cash soybean market continued to have limited price tests with two markets providing quotes for the past week (Figure 1). The average of the Wynne and Little Rock markets bounced up 29 cents over the weekend to open at $15.38 per bushel. The limited sample of the cash market price then declined each day of the week to a low of $13.79 on Friday, a $1.30 decrease from one week earlier on the same day. Wynne market price began the week 25 cents over Little Rock, but its margin expanded to 50 cents for the last two trading days. Prospects for increased participation by the remaining Arkansas markets declines as the new crop harvest draws closer and buyers calculate the amount required to reach new crop sources. A true test of market price remains difficult to determine with the limited number of markets providing price quotations.
The New Crop Soybean Market enjoyed a 14 cent weekend boost to open on Monday at $12.92, but trading moved lower through most of the week before stabilizing somewhat on Friday (Figure 2). The closing price on Friday was $12.34, a 44 cent decrease from the previous Friday close. High individual daily market average for the week was $13.12 at Helena on Monday. Only six of the fourteen reporting markets exceeded the $13.00 level during the past week and they all occurred on Monday. The low daily market price of the period was reported on Thursday with $11.95 at Augusta. Des Arc fell to $11.99 on that same day, but eased above the $12.00 level to end the week. The last day of trading quotes across state markets found thirteen of the fourteen markets above the $12.00 level. Ending prices for the week ranged from an $11.99 low at Augusta to a $12.55 high at Helena. The quotes put the statewide closing day price range at 56 cents, seven 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.)