The first full week of December cash market trading in the Arkansas 2011 crop saw price decline 8 cents over the weekend to a Monday opening average of $11.30 (Figure 1). The market proceeded to post modest but steady gains through Thursday before making a sharp Friday downturn to a closing statewide daily average of $11.13, a 25 cent decline from the previous week closing average. Highest reported individual market daily average for the week was $11.60 at West Memphis on Thursday with Helena, Old Town/Elaine, Blytheville, and Osceola all within 3 cents of the top mark. The individual low for the week was on Friday at $10.77 in Wynne. Eleven of the fourteen reporting markets ended the week with Friday averages above the $11.00 level. Last weekly trading day quotes for the fourteen Arkansas markets ranged from $10.77 to $11.34 per bushel as the gap narrowed 13 cents from the previous week.
Price movements on the 2011 crop for January delivery remained above the cash market price level, but followed a similar movement path (Figure 2). The Monday statewide average of $11.37 was a 10 cent decline from the prior Friday closing mark. The January market had gains through Thursday before encountering a sharp decline on Friday. The closing statewide average on Friday was $11.20, a 27 cent fall from the prior Friday mark. Individual daily market quotes were lead by West Memphis and Old Town/Elaine at $11.60 on Thursday with Blytheville, Helena, and Osceola within 3 cents of the top. The lowest individual daily average during the week was $10.77 at Wynne on Friday. The Wynne market was the only individual market to end the week under $11.00. The price margin for the January 2012 delivery market over the 2011 crop cash market fell 2 cents to 7 cents, $11.20 to 11.13, the second consecutive week where the January vs. Cash price gap narrowed.
(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.)