The Arkansas 2011 soybean crop market had a shortened trading week due to the Martin Luther King Holiday on Monday. Trading in the short week began steady before moving sharply higher on Thursday and settling back lower on Friday to a modest weekly gain (Figure 1). The market average opened on Tuesday at an $11.88 statewide average, 27 cents above the prior Friday closing average. The statewide average climbed to $12.02 on Thursday before ending the week at $11.93 on Friday. Highest reported individual market daily average during the week was $12.32 at West Memphis on Thursday with Old Town/Elaine at $12.27. Individual market daily low for the week was $11.58 at Jonesboro on both Wednesday and Thursday. Last individual trading day quotes for all markets ranged from the $11.61 at Jonesboro to $12.19 per bushel at West Memphis as the spread increased from 51 cents to 58 cents.
The New Crop Booking Prices on the 2012 soybean crop were less volatile than the old crop cash market, but fell on Friday to $11.61, the lowest daily average of the week (Figure 2). The market opening day average was $11.65, 19 cents above the previous Friday closing average. Price quotes climbed to $11.71 on Thursday before sliding back down on Friday. Individual daily market quotes were led by Old Town/Elaine at $11.94 on Thursday with West Memphis at $11.92. No market had a trading day average above $12.00 at any time during the entire week. Lowest individual daily average during the week was $11.39 at Wynne on Friday with Jonesboro at $11.42. All other markets ended the week between $11.54 and $11.84. The price range to end the week for all individual markets reached from the $11.39 at Wynne to $11.84 at both West Memphis and Old Town/Elaine. The 45 cent range represented a 5 cent increase from the previous week closing day.
(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.)