By Bob Stark, Agricultural Economist
A short trading week for the Arkansas 2018 No. 2 Yellow Corn Cash Market opened poorly with a 23 cent weekend loss, but the market regained upward momentum through the three days prior to July 4thand finished higher than the previous week close (Figure 1). Corn opened on Monday at a statewide average of $3.99, a decrease of 52 cents from the previous week opening price. The market reclaimed 16 cents on Tuesday and another 19 cents on Wednesday before trading closed for the holidays. Price on Wednesday was at a statewide average of $4.34, an overall gain of 12 cents compared to the previous week closing day statewide average. Highest daily individual market price over the short week was $4.41 at Helena on Wednesday. Reporting was inconsistent with only Little Rock submitting a quote on Monday, Pine Bluff only reporting on Tuesday, and West Memphis submitting a quote on Wednesday after being absent for the entire month of June. The low quote of the week was $3.99 at Little Rock on Monday. Closing day prices ranged from a $4.20 low at Little Rock to the high of $4.41 at Helena. The ending quotes range of 21 cents was 9 cents narrower than the previous week, but this change could be partially attributed to the inconsistent price quote submissions.
(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.)