A 16 cent weekend gain propelled the 2012 old crop cash market into a price climb that continued to midweek before leveling off at a steady price that persisted through the latter half of the week (Figure 1). The market reached a peak of $13.60 on Wednesday and closed on Friday at a statewide average of $13.58, an even 40 cents above the previous Friday closing average. The high individual market daily quote was $13.98 on Wednesday at West Memphis. Low quote of the period was $12.86 at Jonesboro on Monday. Closing quotes across all reporting markets ranged from a $13.25 low at both Jonesboro and Des Arc to a $13.92 high at West Memphis. These end-of -week quotes left the market price range at 67 cents, a narrowing of 20 cents from the previous week ending spread.
New Crop Soybean Market trading quotes for the past week did not display the old crop gains in the early part of the week. The new crop market gained 15 cents over the weekend, opened on Monday with a statewide average of $11.18, and then posted very small gains through the remainder of the week. Price closed the week at $11.29 on Friday, 26 cents above the previous Friday ending price. High individual market quote of the week was $11.53 at Helena on Friday. Low individual market for the period was Des Arc with $10.84 on Monday. All of the fourteen reporting locations were below $11.00 at the end of the week with Des Arc at $10.95. The end-of-week price spread extended from a high of $11.53 at Helena to the low of $10.95 at Des Arc. These quotes left the market spread at 58 cents, the second straight week at that 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.)