By Bob Stark, Agricultural Economist and Jason Kelley, Extension Agronomist – Wheat and Feed Grains
The Arkansas No. 2 Yellow Corn Cash Market had a short week of trading as USDA-AMS did not publish an Arkansas Daily Grain Report on Thursday or Friday. Price held generally steady through the three days of trading after suffering a 5 cent decline over the weekend (Figure 1). The market opened on Monday at a statewide average of $3.87, a 10 cent decline from the previous week opening day average. Price remained within a 2 cent range for the remainder of the short trading week, closing on Wednesday at a statewide average of $3.87, a 5 cent decline for the week compared to the previous week close. Highest daily individual market price for the short week was $3.97 at Pine Bluff on Tuesday. Low quote of the week was $3.61 at Little Rock on Wednesday. Closing prices on Wednesday ranged from the low of $3.61 at Little Rock to a high of $3.95 at Osceola. The closing range of 34 cents was unchanged from the previous week. Six markets provided price quotes to close the past week as West Memphis resumed providing price quotes on Tuesday after being absent for the previous portion of February.
February cash trading in 2019 crop yellow corn began the month with a 7 cent decline from the last January trading day average and posted an opening day statewide average of $3.89. Trading throughout the month was steady to slightly weaker with price remaining inside a 12 cent range (Figure 2). The last trading report of the month occurred on February 26 as USDA-AMS did not publish an Arkansas Daily Grain Report for the third and fourth days of the month including President’s Day. Corn ended the month at $3.87, an overall decline of 9 cents from the last daily average in January. High individual daily market quote of the month was $4.09 at Pine Bluff on February 7. The low individual daily market quote was $3.61 at Little Rock on February 26. The overall statewide average for February was $3.93 for the 2019 crop No. 2 yellow corn, down 7 cents from the 2019 crop average in January.
(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.)