The 2012 Arkansas cash soybean market rose 21 cents over the weekend to a statewide average of $13.61 (Figure 1). Market movement was limited for the first half of the week before moving sharply lower on Thursday. A slight recovery on Friday left the statewide closing average at $13.41, a 1 cent increase from the previous Friday closing price. All fourteen major soybean markets submitted price quotes through the first two trading days, but five markets had dropped out by the final day of trade. High individual market daily quote was $13.97 at West Memphis on Wednesday. Low quote of the week was $13.01 at Jonesboro on Thursday. The past trading week first seemed to see an overall narrowing of prices as no market provided a quote under $13.00 or at or above $14.00 for the first time since mid-September. Friday closing quotes across all reporting markets ranged from a $13.05 low at Jonesboro to a $13.81 high at West Memphis. These end-of -week quotes put the market price range at 76 cents, an actual 6 cent increase from the prior 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.)