The 2012 Arkansas cash soybean market gained 5 cents over the weekend to open at a statewide average of $13.00 (Figure 1). Initial weakness in the market bottomed out on Wednesday and the market closed with strong gains through the remainder of the trading week. Statewide average price fell to $12.86 on Wednesday before gaining strength for the rest of the week to a closing statewide average of $13.32 on Friday, the highest individual day closing since September 19. The closing price was a 37 cent improvement from the previous Friday closing price. All fourteen major soybean markets submitted price quotes through the entire week. High individual market daily quote was $13.60 from both Blytheville and Osceola on Friday. Low quote of the week was $12.51 at Jonesboro on Wednesday. Friday closing quotes across all reporting markets ranged from a $12.97 low at Jonesboro to the highs of $13.60 at both Blytheville and Osceola. These end-of-week quotes put the market price range at 63 cents, a 6 cent expansion from the previous end-of-week spread.
No New Crop Soybean Market trading quotes were reported this week. A clear directive has not been announced as to whether the New Crop quotes will resume or another market quote will replace them.
(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.)