The 2012 Arkansas cash soybean market statewide average started the week 2 cents above the previous Friday close at $13.36 (Figure 1). Market movement was limited for the entire week, reaching a high of $13.46 on Wednesday before moving lower each of the remaining trading days to a Friday closing average of $13.40, a 6 cent increase from the previous Friday closing price. All fourteen major soybean markets submitted price quotes through the week until Friday when Old Town/Elaine and Little Rock failed to provide a quote. High individual market daily quote was $13.73 at West Memphis for three straight trading days: Wednesday, Thursday, and Friday. Low quote of the week was $12.97 at Jonesboro on Tuesday, one of only two sub-$13.00 individual averages at any market during week. The other was also at Jonesboro with $12.98 on Monday. Friday closing quotes across all reporting markets ranged from a $13.03 low at Jonesboro to the high of $13.73 at West Memphis. These end-of-week quotes left the market price range at 70 cents, a 7 cent increase from the previous 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.)