The first full week of trading following the Thanksgiving holiday opened steady with a Monday average of $11.18 and proceeded to post gains on three of the remaining four trading days in the week (Figure 1). The market peaked on Friday with a closing statewide average of $11.38, an improvement of 20 cents over the previous week closing average. Highest reported individual market daily average for the week was $11.61 at Old Town/Elaine on Friday with West Memphis just one cent lower. Thirteen of the fourteen reporting markets ended the week with Friday averages above the $11.00 level. The exception was the Wynne market at $10.91. Wynne also had the lowest individual daily market price for the week, $10.76 on Monday. Last weekly trading day quotes for the fourteen Arkansas markets ranged from $10.91 to $11.61 per bushel as the gap widened 10 cents from the previous week.
Price movements on the 2011 crop for January delivery moved similar to the cash market during the past week with a Monday statewide average of $11.29, steady from the prior Friday closing mark. The January market posted gains on three of the four remaining days in the week, ending on Friday with a statewide average price of $11.47, an 18 cent rise from the prior Friday mark (Figure 2). Individual daily market quotes were topped by West Memphis, Helena, and Old Town/Elaine with all three reaching $11.61 on Friday. The lowest individual daily average during the week was $10.82 at Wynne on Monday. The Wynne market was the only individual market with a daily quote under $11.00 across the state and also the only market that did not finish the week above $11.00. The price margin for the January 2012 delivery market over the 2011 crop cash market fell to 9 cents, $11.38 to 11.47, as the cash market gained 2 cents more during the week than the January delivery market.
(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.)