The 2012 Arkansas cash soybean market opening on Tuesday, after the extended Veteran’s Day weekend, had an 18 cent gain to an opening statewide average of $13.25 (Figure 1). Statewide average price rose to $13.30 on Wednesday before moving lower for the rest of the week to a closing statewide average of $12.95 on Friday. The closing price was a 12 cent decline from the previous Friday closing price. Thirteen of the fourteen major soybean markets were submitting price quotes to end the week. Only Pine Bluff failed to submit a quote on Friday. High individual market daily quote was $13.57 from both Blytheville and Osceola on Wednesday. Low quote of the week was $12.66 at Jonesboro on Friday. Friday closing quotes across all reporting markets ranged from the $12.66 low at Jonesboro to a high of $13.23 at both Blytheville and Osceola. These end-of-week quotes put the market price range at 57 cents, a 12 cent expansion from the previous end-of-week spread.
New Crop Soybean Market trading was conducted on Tuesday at ten markets and on Wednesday at nine before reporting ceased on Thursday and Friday. No clear directive has been announced as to whether the New Crop quotes will resume or another market quote will replace them. A resolution should be made by this time next 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.)