The Arkansas 2012 cash soybean market continued to have limited price tests with no more than two markets providing quotes on any given day over the past week (Figure 1). Wynne and Little Rock markets had been providing quotes for most days, but the past week saw Little Rock drop out midweek and West Memphis begin reporting quotes for the last two trading days. An 18 cent weekend upsurge was followed with a 19 cent drop at Wynne on Tuesday. The weakly tested market remained basically unchanged for the remaining trading day. A pattern of limited price tests seems to be forming that will likely last into new crop harvest. Little chance of price increases exist as buyers gauge their existing stocks versus quantity required until new corn becomes available. The prospect of 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 lost 8 cents over the weekend to open on Monday at $12.26 and continued moving lower each trading day of the past week (Figure 2). The closing price on Friday was $11.87, a 47 cent decrease from the previous Friday close. This result makes two straight weeks with new crop beans falling more than 40 cents during the trading week. It also marked the first days since April 24 that a daily average was reported below $12.00. High individual daily market average for the week was $12.47 at Helena on Monday. The Pine Bluff market stopped providing price quotes this past week leaving thirteen reporting markets. The low daily market price of the period was reported on Friday with $11.52 at Augusta. Only six markets closed the week above the $12.00 level. The last day of trading quotes across state markets found ending prices ranging from the $11.52 low at Augusta to a $12.08 high at Helena. The quotes left the statewide closing day price range at 56 cents for the second 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.)