The November 21-25 trading week for the 2011 soybean crop consisted of only three trading days due to the Thanksgiving holiday. Monday trading opened with a statewide average of $11.41, 19 cents under the prior Friday average price (Figure 1). Tuesday had modest improvement before the market moved sharply lower on Wednesday to a closing statewide average of $11.18. The closing statewide average mark was 42 cents under the previous week closing average. Highest reported individual market daily average for the shortened week was $11.68 at West Memphis on Tuesday. All markets remained in the $11.00 to 12.00 range during the period except for Jonesboro at $10.99 and Wynne at $10.78 on Wednesday. The latter report was the lowest individual daily market price for the week. Last weekly trading day quotes for the fourteen Arkansas markets ranged from $10.78 to $11.38 per bushel as the gap widened 5 cents from the previous week.
Although on a higher level, price movements on the 2011 crop for January delivery moved similar to the cash market. Bookings for January delivery opened Monday with a statewide daily average of $11.53, an 18 cent loss from the previous Friday closing mark. A 5 cent gain on Tuesday was more than wiped out by a sharp decline on Wednesday as the statewide average price fell to $11.29, a 42 cent drop from the prior Friday mark (Figure 2). Individual daily market quotes were topped by West Memphis at $11.74 on Tuesday with Helena at $11.71. The lowest individual daily average during the week was $10.84 at Wynne on Wednesday, the only individual market daily quote under $11.00 across the state. The price margin for the January 2012 delivery market over the 2011 crop cash market remained at 11 cents, $11.18 to 11.29, as both markets fell 42 cents during the shortened week.
(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.)