By Bob Stark, Agricultural Economist and Jason Kelley, Extension Agronomist – Wheat and Feed Grains
The Arkansas No. 2 Yellow Corn Cash Market lost 5 cents over the weekend and carried the trend throughout the entire past trading week (Figure 1). The market opened on Monday at a statewide average of $3.53, a decline of just 2 cents from the previous week opening day average. But price declined daily, eventually reaching a weekly low on Friday at a statewide average of $3.40, a loss of 18 cents from the previous week close. Highest daily individual market price for the week was $3.63 at Osceola on Tuesday. Low quote of the week was $3.16 at Little Rock on Friday. Closing prices on the last trading day ranged from the low of $3.16 at Little Rock to a high of $3.58 at Osceola. The closing range of 42 cents was 13 cents wider than the previous week, but was possibly influenced by the stoppage of the Helena, West Memphis and Old Town/Elaine market reports during the week. Only three markets provided price quotes for each day of the past week.
March cash trading in 2019 crop yellow corn began the month promising with 12 and 5 cent gains on the second and third trading days after losing 3 cents to open the month. The decline from the last February trading day average put the opening day statewide average at $3.84. Trading throughout most of the month was weaker with price making a major decline over the March 13 to 18 period. Price recovered modestly and remained basically steady over the last two weeks (Figure 2). Corn ended the month at $3.52, an overall decline of 35 cents from the last daily average in February. High individual daily market quote of the month was $4.11 at Osceola on March 4. The low individual daily market quote was $3.25 at Little Rock on March 18. The overall statewide average for March was $3.72 for the 2019 crop No. 2 yellow corn, down 21 cents from the 2019 crop average in February. The 2020 annual average over the first two months now stands at $3.88 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.)