The 2011 crop mostly traded steadily lower through the past week following a 15 cent decline over the weekend to Monday’s statewide average of $12.33 (Figure 1). Market price posted modest gains on selected days followed by sharp declines on the next day. The Friday statewide average ended the week at $12.03 per bushel, $0.45 under the previous Friday average trading price. Highest reported individual market daily average for the week was $12.61 at both Helena and Old Town/Elaine on Tuesday. The lowest individual market daily average was $11.67 at Wynne on Friday, one of five markets ending the week under the $12.00 mark. The past week saw reentry of West Memphis to the 2011 cash market. Quotes had ceased to be reported on August 30. Last trading day quotes for the fourteen Arkansas markets providing 2011 crop quotes ranged from $11.67 to $12.22 per bushel.
The new market price quotations on the 2011 crop for January delivery opened Monday with a statewide average of $12.60, a 16 cent decline from the previous Friday closing mark. January delivery beans were lower on four of the five trading days in the week with the Friday closing average of $12.29 representing a 47 cent loss for the week compared to the prior Friday mark (Figure 2). Helena again topped the individual daily market quotes with an average price of $12.79 on Monday. The lowest individual daily average during the week was $11.76 on Friday at Wynne, the only daily market ending the week under $12.00. The price margin for the January 2012 delivery market over the 2011 crop cash market has fallen to 26 cents after opening on October 7 at 39 cents.
(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.)