By Bob Stark, Agricultural Economist
The Arkansas 2018 No. 2 Yellow Corn Cash Market lost 7 cents over the extended Thanksgiving holiday weekend, but regained all of its losses and more during the past week of cash trading. The market opened on Monday at a statewide average of $3.55, a loss of 7 cents from the previous Monday opening average. Price recovered 1 cent on Tuesday and another 4 cents on Wednesday that it held steady on Thursday. The market posted its biggest gain of the week, 6 cents, on Friday and closed trading at a statewide average of $3.66 on Friday (Figure 1). The closing average price left the market 6 cents over the previous Wednesday closing statewide average that concluded pre-Thanksgiving trading. Highest daily individual market price over the past week was $3.69 at Helena on Friday. Low quote of the week was $3.51 at Old Town/Elaine on Monday. End-of-the-week quotes saw Friday closing day prices ranging from a $3.62 low at Old Town/Elaine to the high of $3.69 at Helena. The ending quotes represented a range of 7 cents, a 4 cent narrowing compared to the pre-Thanksgiving closing range. The reporting individual market number fell back to a total of four with Helena missing on a Monday quote and Osceola again dropping completely out midweek.
November 2018 Monthly Summary
November cash trading in 2018 crop yellow corn followed an uncertain path with strength early in the month followed by a prolonged, mid-month decline before rallying the last few days. The opening day statewide average was $3.64, an increase of 7 cents from the October opening day average. The market traded within a 20 cent range over the entire month (Figure 2). Trading closed on November 30 at $3.66, an overall gain of 8 cents from the last daily average in October, but just 2 cents above the statewide daily average on the first November trading day . High individual daily market quote of the month was $3.82 at Osceola on November 8. The low individual daily market quote was $3.51 at Old Town/Elaine on November 26. The overall statewide average for November was $3.66 for the 2018 crop No. 2 yellow corn, 5 cents over the 2018 crop average in October. The annual average for the 2018 corn crop spanning August, September, October, and November now stands at $3.70 per bushel.
(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.)