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Arkansas corn market report for June 24-28, 2019 and monthly summary
Author: Bob Stark, Agricultural Economist

By Bob Stark, Agricultural Economist

Figure 1. AR 2018 No. 2 Yellow Corn Cash Market Prices (June 24-28, 2019)

The past trading week for the Arkansas 2018 No. 2 Yellow Corn Cash Market opened well with a 5 cent weekend gain followed by an additional 3 cent gain on Monday, but price drifted lower through the midweek trading and closed on Friday with a significant loss (Figure 1).  Corn opened on Monday at a statewide average of $4.51, a decrease of 9 cents from the previous week opening price.  The market climbed to a $4.54 statewide average on Tuesday before entering a daily decline trend.  Price fell 24 cents on Friday to close at a statewide average of $4.22, an overall loss of 24 cents compared to the previous week closing day statewide average. Highest daily individual market price over the past week was $4.71 at Osceola on Tuesday.  The low quote of the week was $4.05 at Little Rock on Friday.  Closing day prices ranged from the $4.05 low at Little Rock to a high of $4.35 at Old Town/Elaine.  The ending quotes range of 30 cents was 8 cents narrower than the previous week, but this change could be partially attributed to the absence of the Osceola market that failed to submit a price quote on Friday.  Osceola had been the high market each day from Monday through Thursday of the past week.  With the loss of a quote from Osceola, only four markets concluded the week providing daily price quotes. 

Cash trading in 2018 crop yellow corn began the month with a 10 cent loss from the last May trading day and opened at a $4.26 per bushel statewide average.  Price initially stayed within an 8 cent range through the first six trading days before making a major, week long improvement that carred the market to its June daily statewide average high of $4.60 on June 17.  The market held most of this gain until the last trading day when price fell 24 cents, closing at a statewide average of $4.22 (Figure 2). The high individual daily quote of the month occurred on June 17 as Osceola reported a quote of $4.78.  The low individual daily market quote was $4.00 at Little Rock on June 5.  The statewide average of $4.22 on the June 28 last trading report of the month represented a 14 cent decline from the last daily average in May.  The overall statewide average for June was $4.41 for the 2018 crop No. 2 yellow corn, a 52 cent improvement over the May monthly average. The 2018 corn crop market spanning the first six months of 2019 now stands at an average of $3.89 per bushel.

Figure 2. Monthly Summary AR 2018 No. 2 Yellow Corn Cash Market Prices (June 3-28, 2019)

(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.)

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