The 2012 old crop cash market gained 7 cents over the weekend and opened on Monday at $13.17. Despite the strong weekend gain, the market never fully got momentum at any time during the week and closed on Friday at a statewide average of $13.18, just 8 cents above the previous Friday closing average (Figure 1). Throughout the week, the market posted daily averages within a 10 cent range with basically steady trading. The high individual market daily quote was $13.58 on Friday at West Memphis with Old Town/Elaine one cent lower. Low quote of the period was $12.61 at Jonesboro on Wednesday. Closing quotes across all reporting markets ranged from a $12.71 low at Jonesboro to the $13.58 high at West Memphis. These end-of -week quotes left the market price range at 87 cents, an expansion of 9 cents from the previous week ending spread.
New Crop Soybean Market trading quotes for the past week showed a vastly different pattern from the old crop market. The new crop market lost 4 cents over the weekend, opened on Monday with a statewide average of $11.30, and posted continually lower price quotes each day of the past week. Price closed the week at $11.03 on Friday, 31 cents under the previous Friday ending price. High individual market quote of the week was $11.54 at Helena on Monday. Low individual market for the period was Des Arc with $10.70 on Friday. Six of the fourteen reporting locations were below $11.00 at the end of the week. The end-of-week price spread extended from a high of $11.28 at Helena to the low of $10.70 at Des Arc. These quotes left the market spread at 58 cents, the second straight week with a 2 cent narrowing of the ending price range.
(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.)