The Arkansas 2012 cash soybean market recent trend as a “thinning” market reversed sharply as seven markets are now providing daily quotes (Figure 1). The statewide average opened on Monday at $12.18, but traded within a narrow range throughout the full week. Prices dropped midweek to a low of $11.99 on Wednesday, but rebounded over the last two trading days to a Friday closing average of $12.16. The individual daily market high was found in West Memphis on Thursday at $12.79. The weakly low was $11.34 at Augusta on Wednesday. Closing quotes on Friday ranged from a low of $11.51 at Augusta to a high at West Memphis of $12.77. These quotes leave the market with a price range of $1.26.
The New Crop Soybean Market rose 2 cents over the weekend to open on Monday at $11.89 and proceeded to move lower through the early part of the past week before regaining strength to close the week (Figure 2). The closing price on Friday was $11.87, completely unchanged from the previous Friday close. High individual daily market average for the week was $12.10 at Helena on Monday. The Pine Bluff market resumed providing price quotes this past week restoring all fourteen reporting markets into the daily reports. The low daily market price of the period was reported on Wednesday with $11.34 at Augusta. Six markets again closed the week above the $12.00 level. The last day of trading quotes across state markets found ending prices ranging from the $11.51 low at Augusta to a $12.07 high at Helena. The quotes left the statewide closing day price range at 56 cents 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.)