By Bob Stark, Agricultural Economist
The Arkansas Daily Grain Report issued by USDA-AMS will not be published for the period of December 23, 2019-January 1, 2020. This cash market report therefore includes price trends for the past week, the month of December, and a marketing year summary for the 2019 corn crop. Regular publications of this Arkansas Corn Cash Market Report will resume on Friday, January 3, 2020.
The Arkansas 2019 No. 2 Yellow Corn Cash Market finished the reporting year with a generally stable week of trading (Figure 1). The market opened on Monday at a statewide average of $3.94, an improvement of 14 cents over the opening day price of the previous week and 7 cents above the closing price of the previous Friday. Price traded the entire week within a 4 cent range before closing on this past Friday at a statewide average of $3.93, an overall gain of 6 cents for the week. Highest daily individual market price for the past week was $4.02 at Osceola on Tuesday. Low quote of the week was $3.77 at Little Rock on both Wednesday and Thursday. Closing prices on Friday ranged from a low of $3.78 at Little Rock to a high of $3.99 at Osceola, a 21 cent range and just 1 cent narrower than the previous week. Six markets continued to provide price quotes each day of the past week.
Cash trading in Arkansas yellow corn began the month of December unchanged from the last November trading day. Price quotes on December 2 had the statewide average at $3.81, a 12 cent decline from the first November trading day. Price slowly declined to a December 11 low of $3.77 before turning around and climbing to finish the month (Figure 2). A price improvement over the last seven trading days lifted the statewide average to a closing price of $3.93 on the last USDA reporting day before the new year. The closing statewide average on December 20 was 12 cents over the November closing day average. The high individual daily quote of the month occurred on December 17 as Osceola reported a quote of $4.02. The low individual daily market quote was $3.61 at Little Rock on December 11. The overall statewide average for December was $3.86 for the No. 2 yellow corn crop, an increase of 3 cents from the November monthly average.
Cash trading in Arkansas yellow corn thus far in the 2019-2020 marketing year began at a statewide average on September 5 of $3.37. Price climbed higher to reach $3.98 on October 31. The market then leveled off before another rally started on December 11 and carried price to a closing statewide average of $3.93 on December 20 (Figure 3). The trend for the three month period was up with a 56 cent gain from first to last trading day. 2019 crop Arkansas Cash Market Corn spanning the first three months of the 2019-2020 marketing year stands at an average price of $3.75 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.)