The Arkansas 2012 cash soybean market began the past trading week with a 43 cent weekend gain to post a Monday statewide average of $12.59 across seven markets (Figure 1). The Wynne market stopped providing quotes after Monday so all remaining daily averages are across six markets. Prices fell sharply on Tuesday, recovered most of the losses on Wednesday, and climbed to a weekly high on Thursday before settling slightly lower on Friday. Interestingly, the individual daily market high and low were both found on Monday with West Memphis at $13.20 and Augusta at $11.94. Closing quotes on Friday across the six reporting markets ranged from a low of $12.28 at Augusta to a high at West Memphis of $13.06. These quotes left the market with a price range of 78 cents, a sizeable 48 cent contraction from the $1.26 spread at the end of the previous week of trading.
The New Crop Soybean Market rose 37 cents over the weekend to open on Monday at $12.24 and proceeded to move steadily higher through Thursday before settling slightly lower on Friday (Figure 2). The closing price on Friday was $12.65, an increase of 78 cents from the previous Friday close. High individual daily market average for the week was $12.90 at Helena on Thursday. All fourteen markets are providing price quotations into the daily reports. The low daily market price of the period was reported on Monday with $11.25 at Wheatley, one of five sub-$12.00 individual daily market quotes during the week. All markets closed the week well above the $12.00 level. The last day of trading quotes across state markets found ending prices ranging from a $12.28 low at Augusta to a $12.84 high at West Memphis, Helena, and Old Town/Elaine. The closing quotes left the statewide closing day price range at 56 cents for the fourth 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.)