By Bob Stark, Agricultural Economist
The USDA Agricultural Marketing Service is providing intermittent daily reports during the current government budget shutdown. This report summarizes the 2018 annual price reports for the Arkansas 2018 No. 2 Yellow Corn crop. Weekly average prices and movements are shown in Figure 1.
The Arkansas 2018 No. 2 Yellow Corn Market opened trading on January 1, 2018 at a $3.55 per bushel booking price. Forward booking prices for the 2018 crop continued through September 30 before becoming the Cash Market on October 1. This report describes price movements and levels for the 2018 crop through December 31. Market price trended higher following January 1 and reached a peak of $4.03 on March 8 before entering a sharp decline. The market fell to $3.66 on March 28 before reversing course to trend higher. The 2018 price reached its highest weekly statewide average price of $4.14 on consecutive days, May 22 and 23. Immediately following these peaks, the market price began to decline and fell to $3.38 on July 17. A two week rally lifted price to $3.76 on July 31, but the market began declining after the July 4 holiday and eventually reached its low for the year of $3.22 on September 18. Price recovered all of those losses by November 8 and continued to $3.86 on December 14 before declining to end the year. The last day of 2018 trading was on December 31 with the statewide average closing the year at $3.77. The high individual market quote of the year was $4.25 at Osceola on May 23. The low quote of the year was $3.08 at both West Memphis and Old Town/Elaine on September 18. Overall average for the full 2018 year was $3.71 based on daily quotes provided by each individual market.
(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.)