By Bob Stark, Agricultural Economist
Welcome to the first post of the ARKANSAS CORN CASH MARKET REPORT. This report will be a weekly post summarizing cash market pricing quotes from selected markets as reported to National Agricultural Statistics Service in Arkansas.
The Arkansas 2018 No. 2 Yellow Corn Cash Market moved lower over the weekend and continued its slide to midweek before posting a rally to end the week that almost recovered all of the previous losses (Figure 1). The market lost 2 cents over the weekend and opened on the past Monday at a statewide average of $3.47, a 16 cent decline from Monday of the previous week. Daily losses of 6 and 2 cents, respectively, sent the market to its daily low of $3.39 for the week on both Wednesday and Thursday. But a 7 cent improvement on Friday put the closing statewide average at $3.46, a decline of 3 cents from the previous Friday statewide average. The high daily individual market price over the past week was $3.59 at Osceola on Monday. Low quote of the week was $3.31 at both Blytheville and Old Town/Elaine on Wednesday. Old Town/Elaine remained at $3.31 on Thursday as Blytheville rose 1 cent. End-of-the-week quotes saw Friday closing day prices ranging from a $3.41 low at Helena and Old Town/Elaine to a high of $3.56 at Little Rock. The ending quotes represented a range of 15 cents, a 2 cent narrowing compared to the previous week closing range. Only six individual markets provided price quotations throughout the entire week as Pine Bluff dropped out on Wednesday.
August cash trading in 2018 crop yellow corn began the month on a down note by losing 12 cents from the last July trading day price. The opening day statewide average was $3.64, a 19 cent improvement from the July opening day average. The initial market decline was partially offset by a higher trend that extended to August 8 when the market reached $3.72, but all of that gain and more was lost during a decline that essentially continued to the end of August (Figure 3). Trading closed on August 31 at $3.46, an overall decline of 30 cents from the last daily average in July. High individual daily market quote of the month was $3.81 at Osceola on August 8. The low individual daily market quote was $3.31 at West Memphis on August 29 and Old Town/Elaine on both August 29 and 30. The overall statewide average for August was $3.58 for the 2018 crop No. 2 yellow corn, 5 cents over the 2018 crop average in July.
(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.)