By Bob Stark, Agricultural Economist
The Arkansas 2018 No. 2 Yellow Corn Cash Market resumed daily market reports after a somewhat irregular previous week. The market lost 5 cents from the previous Friday closing price for the second straight weekend. Price slipped lower through much of the week before rallying slightly in Friday trading (Figure 1). The market opened on Monday at a statewide average of $3.81, identical to the previous week opening day. Price then lost 2 to 4 cents each day, reaching a statewide closing average of $3.75 on Friday, 11 cents under the previous Friday closing price. Highest daily individual market price over the past week was $3.96 at Pine Bluff on Monday, the first week without a plus-$4.00 individual daily quote since late January. Low quote of the week was $3.47 at Little Rock on Thursday. Friday closing day prices ranged from a low of $3.58 at Little Rock to a high of $3.88 at Pine Bluff. These ending quotes represented a range of 30 cents, 10 cents narrower than the previous week closing range. The end-of-the-week quotes range was again likely affected by the number and composition of reporting locations as just four markets provided Friday quotes. Osceola only reported on Friday and Blytheville and Helena failed to submit a Friday quotation.
February 2019 Monthly Summary
February cash trading in 2018 crop yellow corn began the month with continued trade uncertainty on the national level. Price showed some early strength through the first two weeks, but weakened to close out the month (Figure 3). The market opened February with a statewide average of $3.85, 2 cents under the last January quote. The Presidents’ Day holiday and a no report day on February 22 saw price decline markedly during the last two weeks. The last trading report of the month occured on February 28 at $3.72, an overall 15 cent decline from the last daily average in January. High individual daily market quote of the month was $4.04 at Pine Bluff on February 13. The low individual daily market quote was $3.47 at Little Rock on February 28. The overall statewide average for February was $3.84 for the 2018 crop No. 2 yellow corn, 4 cents higher than the January monthly average. The 2018 corn crop market spanning the first two months of 2019 now stands at an average of $3.82 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.)