The 2012 Arkansas cash soybean market rose 11 cents over the weekend to a statewide average of $13.52 (Figure 1). The market moved higher on Tuesday before suffering a “correction” on Wednesday that took back all of the gains and more. But the market regained momentum through the remainder of the week and actually closed on Friday at $13.61, a 20 cent gain from the previous Friday closing price. The loss of some quoted markets last week was almost completely recovered with only Pine Bluff no reporting prices. High individual market daily quote was $14.04 at West Memphis on Tuesday with Old Town/Elaine at $14.02. Low quote of the week was $13.01 at Jonesboro on Wednesday. Friday closing quotes across all reporting markets ranged from a $13.16 low at Jonesboro to a $13.94 high at both West Memphis and Old Town/Elaine. These end-of -week quotes put the market price range at 78 cents, a 2 cent increase from the prior week.
New Crop Soybean Market trading quotes finally arrived in the USDA-NASS reports this week. The new crop market opened on Monday with a statewide average of $11.58, $1.94 under the old crop cash market average being reported. Price moved steadily higher through the week, peaking at $11.75 on Friday. Nine locations provided quotes on Monday, but the number had risen to 13 markets by Friday. High individual market quote of the week was found to be $12.02 at Helena on Friday, the only individual market to exceed the $12.00 level. Low individual market was Wynne with $11.11 on Monday. The end-of-week price spread was 62 cents based on the $12.02 high at Helena and a low of $11.40 at Des Arc.
(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.)