By Bob Stark, Agricultural Economist
The Arkansas 2018 No. 2 Yellow Corn Cash Market gained 1 cent over the weekend from the previous Friday closing price. Market movement through the remainder of the week stayed within a 4 cent range. No report was published by USDA-AMS on Thursday (Figure 1). Trading opened on Monday at a statewide average of $3.83. Price remained steady on Tuesday before adding 4 cents on Wednesday. A 2 cent decline on Friday left the market at $3.85 for a closing average, 3 cents above the closing mark on the previous Friday. Highest daily individual market price over the past week was $4.01 at Pine Bluff on Thursday. Low quote of the week was $3.62 at Little Rock on Tuesday. End-of-the-week quotes were provided by only three markets and saw Friday closing day prices ranging from a low of $3.63 at Little Rock to a high of $3.98 at Pine Bluff. These ending quotes represented a range of 35 cents, 5 cents wider than the previous week closing range, but readers should recognize that four markets failed to provide price quotes to end the past week.
January 2019 Monthly Summary
January cash trading in 2018 crop yellow corn began the month with great uncertainty as the Federal government shutdown resulted in no reports on January 2 and 4 following the New Year’s Day holiday. The first weekly report of 2019 on January 3 saw the market with a statewide average of $3.82, 5 cents above the December 31 quote to end 2018. The market traded on just a slightly higher trend through the month (Figure 3). The last trading report of the month occured on January 30 at $3.87, an overall improvement of 10 cents from the last daily average in December. High individual daily market quote of the month was $4.01 at Pine Bluff on January 30. The low individual daily market quote was $3.56 at Little Rock on January 15. The overall statewide average for January was $3.80 for the 2018 crop No. 2 yellow corn, unchanged from the 2018 crop average in December.
(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.)