By Bob Stark, Agricultural Economist
The Arkansas 2018 No. 2 Yellow Corn Cash Market turned around its recent price trend and enjoyed a week of modest, but steady gains. No report was published by USDA-AMS on Thursday, but all other days reported gains (Figure 1). Price moved 1 cent higher over the weekend and opened on Monday at $3.63, 2 cents under the previous Monday level. The daily gains took the market up to a Friday closing statewide average of $3.76, 14 cents over the closing mark of the previous week although the number of markets reporting declined in the latter half of the week. Highest daily individual market price over the past week was $3.96 at Pine Bluff on Friday. Low quote of the week was $3.47 at Little Rock on Monday. The closing day prices ranged from a low of $3.61 at Little Rock to the high of $3.96 at Pine Bluff. These ending quotes represented a range of 35 cents, a 5 cent widening from the previous week range. Only four markets were reporting when trading closed for the week. Only West Memphis and Little Rock provided quotes on Wednesday, but Helena and Pine Bluff rejoined the reporting group on Friday.
April cash trading in 2018 crop yellow corn began the month with some price issues as the market lost 11 cents on the first April trading day. Price slowly weakened through most of the month, reaching a low of $3.57 on April 24 before rallying to end April trading (Figure 2). The market opened April at a statewide average of $3.67. Price reached its monthly high on April 4 at $3.73 before moving lower. The high individual daily quote of the month occurred on that date in Pine Bluff at a price of $3.90. The last trading report of the month occured on April 30 at a statewide average of $3.65, an overall 13 cent decline from the last daily average in March. The low individual daily market quote was $3.42 at Little Rock on April 24. The overall statewide average for April was $3.65 for the 2018 crop No. 2 yellow corn, 10 cents lower than the March monthly average. The 2018 corn crop market spanning the first four months of 2019 now stands at an average of $3.76 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.)