Trading in the Arkansas 2011 soybean crop prior to Christmas opened with a 7 cent higher average on Monday and steadily climbed higher throughout the week (Figure 1). The market average on Monday was $11.42 and moved higher on each trading day to a closing statewide daily average of $11.68 on Friday, a 33 cent overall rise from the previous week closing average. Highest reported individual market daily average during the week was $11.88 at Old Town/Elaine on Friday with West Memphis at $11.87. Individual low for the week was $11.07 on Monday in Wynne. All individual daily market quotes during the week exceeded $11.00 and all reporting markets ended the week with Friday averages above $11.33. Last weekly trading day quotes for all markets ranged from $11.33 to $11.88 per bushel as the gap remained unchanged from the previous week range of 55 cents.
Price movements on the 2011 crop for January delivery remained slightly above the cash market price level with a parallel movement path (Figure 2). The Monday statewide average of $11.48 was 7 cents above the prior Friday closing mark. The January market posted further gains on each succeeding day of the week to a closing statewide average on Friday of $11.74, a 33 cent rise from the prior Friday mark. Individual daily market quotes were lead by Old Town/Elaine at $11.88 on Friday with Blytheville, West Memphis, Helena, and Osceola all within 3 cents of the top. Lowest individual daily average during the week was $11.07 at Wynne on Monday. All markets ended the week at or above $11.73 except for Augusta and Wynne at $11.57 and $11.33 respectively. The price margin for the January 2012 delivery market over the 2011 crop cash market remained 6 cents, $11.74 to 11.68, for the second consecutive 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.)