By Bob Stark, Agricultural Economist and Jason Kelley, Extension Agronomist – Wheat and Feed Grains
The Arkansas No. 2 Yellow Corn Cash Market has begun to fall into a weekly cycle of a steady price weekend followed by multiple price declining weekends. Daily price changes during the weeks have been irregular and has often held fairly steady. The immediate past weeks are a case in point. Price had held steady at $3.55 over the next to last weekend in March. During the last ten days of March, price rose briefly and then fell 3 cents. The market continued lower into April before staging a brief, pre-Easter rally that remained steady over the extended Easter weekend. Now we have seen another weekend loss followed by a relatively steady week. Price fell 7 cents over the immediate past weekend and opened last Monday at $3.25, 16 cents under the previous Monday opening average. The market bounced up and down through the week within a 5 cent higher or lower range and closed on Friday at $3.26, a 6 cent decline from the previous Friday average (Figure 1). Highest daily individual market price for the past week was $3.37 at Osceola on both Wednesday and Thursday. Low quote of the week was $2.99 at Little Rock on Tuesday. Closing prices on Friday ranged from a low of $3.06 at Little Rock to a high of $3.35 at Osceola. The closing range of 29 cents was 2 cents wider than the previous week. Four markets, Helena, Osceola, Pine Bluff, and Little Rock, provided price quotes on each day of the past week.
(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.)