By Bob Stark, Agricultural Economist
The past seven day period was a “hump week” for Arkansas 2018 No. 2 Yellow Corn Cash Market. A 6 cent weekend gain was followed by a 7 cent improvement on Tuesday and a 1 cent Wednesday gain before the market retreated 6 cents on Thursday to end the week (Figure 1). No Friday report was published by USDA-AMS ahead of the Memorial Day weekend. Price opened on Monday at $3.94, 34 cents above the previous Monday level. The early week daily gains took cash corn to a high of $4.02 on Wednesday before the last trading day correction. The market closed on Thursday at a statewide average of $3.96, 8 cents above the closing mark of the previous week. Highest daily individual market price over the past week was $4.20 at Pine Bluff on Wednesday. Low quote of the week was $3.79 at Little Rock on Monday. The closing day prices ranged from a low of $3.80 at Little Rock to a high of $4.10 at Pine Bluff. These ending quotes represented a range of 30 cents, 5 cents narrower than the previous week closing range. Six markets provided daily price quotes for the entire week.
(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.)