The new year saw trading on the Arkansas 2011 soybean crop moving lower throughout the four day holiday week (Figure 1). The market average opened the year on Tuesday at a $12.24 statewide average, a 20 cent overall rise from the last 2011 daily closing average. Market price fell each day of the short week to a Friday closing statewide average of $11.94. Highest reported individual market daily average during the week was $12.45 at both Old Town/Elaine and West Memphis on Wednesday. Individual market daily low for the week was $11.60 at Wynne on Friday. Last individual trading day quotes for all markets ranged from $11.60 at Wynne to $12.12 per bushel at both Old Town/Elaine and West Memphis. Only five of the fourteen reporting markets closed the week above the $12.00 level.
The first market quotes on the 2012 soybean crop opened trading at a statewide average of $11.89 on Tuesday, January 3 (Figure 2). The market was steady to 1 cent higher on Wednesday before following the steadily lower cash market trend to a closing daily statewide average of $11.66 on Friday. Individual daily market quotes were led by Old Town/Elaine at $12.14 on both Tuesday and Wednesday. West Memphis was the only other market above $12.00 with quotes of $12.12 on each of those respective days. Lowest individual daily average during the week was $11.46 at Wynne on Friday with Jonesboro at $11.49. All other markets ended the week below $11.88. The price range to end the week for all individual markets reached from $11.46 to $11.87.
(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.)