The 2012 Arkansas cash soybean market gained 10 cents over the weekend to open the shortened holiday trading week at a statewide average of $13.42 (Figure 1). The market was initially steady before weakening on Wednesday, the last trading day. Statewide average price fell to $13.34 on Wednesday but still represented a 2 cent increase from the previous Friday closing price. All fourteen major soybean markets submitted price quotes through the entire week. High individual market daily quote was $13.69 at both Blytheville and Osceola on Monday and Tuesday. Low quote of the week was $12.97 at Jonesboro on Wednesday, the only sub-$13.00 individual average at any market during the shortened week. Wednesday closing quotes across all reporting markets ranged from the $12.97 low at Jonesboro to a high of $13.60 at both Blytheville and Osceola. These end-of-week quotes left the market price range at 63 cents for the second consecutive week.
No New Crop Soybean Market trading quotes continue to be reported this week. A clear directive has not been announced as to whether the New Crop quotes will begin or some other 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.)