The 2012 Arkansas cash soybean market had a “hump” week with a Wednesday peak and sharp declines at both ends (Figure 1). Trading opened on Monday at $12.79 after suffering a 30 cent weekend loss. The market posted steady gains to a $12.94 top on Wednesday before encountering a similarly steady decline through the remaining days of the week. The closing statewide average high on Friday was $12.73, a 36 cent fall from the previous Friday closing price. Thirteen major soybean markets were submitting price quotes to end the week as Pine Bluff resumed midweek. High individual market daily quote was $13.13 from both Old Town/Elaine and Helena on Wednesday. Low quote of the week was $12.41 at Augusta on Friday. Closing quotes on Friday across the thirteen reporting markets ranged from the $12.41 low at Augusta to a high of $12.91 at Helena. All state markets closed below $13.00. These end-of-week quotes put the market price range at 50 cents, a 2 cent contraction from the previous end-of-week spread.
New Crop Soybean Market trading followed the same “hump” pattern as the old crop market opening at $12.73 on Monday following a 32 cent weekend loss. Like the old crop market, new crop quotes rose steadily to a peak on Wednesday reaching $12.89 before falling in a similarly steady manner to a Friday closing mark of $12.72 (Figure 2). The closing price represented an overall 33 cent decline from the previous Friday closing level. New crop quotes finished the week 1 cent under the old crop price. High individual daily market average for the week was $13.13 at Helena on Wednesday. All fourteen markets are now reporting following the return of Pine Bluff on Wednesday. The low daily market price of the period was reported on Friday with $12.41 at Augusta. Eleven markets providing both old crop and new crop booking quotes offered the same price for both crops. The last day of trading quotes across state markets found ending prices ranging from the $12.41 low at Augusta to a $12.91 top at Helena. All markets ended the week under the $13.00 level. The closing quotes left the statewide closing day price range at 50 cents, a 5 cent decrease from the previous week spread.
(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.)