The 2012 cash soybean market shook off a 10 cent weekend loss that put it opening at a $13.11 statewide average on Monday and moved slightly, but steadily higher through the remaining days of the week (Figure 1). The market closed on Friday at $13.14, a modest 3 cent improvement over the previous Friday closing price, but a turnaround from the previous week losses. Twelve of fourteen major soybean markets continued to submit price quotes this past week. High individual market daily quote of the week was $13.35 at Helena on Wednesday, the second straight Friday report with no daily market quote over $14.00. Low quote of the week was $12.65 at Augusta on Monday. The Augusta, Jonesboro, and Des Arc markets held the dubious honor of the only state markets to never exceed $13.00 during the week. Closing quotes on Friday across the twelve reporting markets ranged from a low of $12.77 at Augusta to a high of $13.31 at both Helena and West Memphis. Three state markets closed below $14.00. These quotes put the market price range at 54 cents, a 4 cent contraction from the previous week spread.
New Crop Soybean Market trading moved similar to the old crop market during the past week as price rose slowly, but steadily over most trading days (Figure 2). The market lost 11 cents over the weekend to open Monday at a statewide average of $12.98, its first statewide daily average under $13.00 since August 20. Price then began to climb slowly and reached a high of $13.15 on Wednesday before leveling off to end the week. The Friday closing statewide average was $13.13, a 4 cent gain from the previous Friday closing mark. High individual daily market average for the week was $13.35 at Helena on Wednesday, as six of the thirteen reporting markets fell below the $13.00 level. The low daily market price of the period was reported on Monday with $12.65 at Augusta. Eleven markets providing both old crop and new crop booking quotes converged in price by the end of the week, offering the same price for both crops. The last day of trading quotes across state markets found ending prices ranging from a $12.77 low at Augusta to a $13.31 high at Helena. These closing quotes left the statewide closing day price range at 54 cents, a 4 cent decrease from 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.)