By Bob Stark, Agricultural Economist and Jason Kelley, Extension Agronomist, Wheat and Feed Grains
The Arkansas No. 2 Yellow Corn Cash Market continued lower through midweek before a two day rise to end trading. Price fell 10 cents over the immediate past weekend and opened last Monday at $3.16, 9 cents under the previous Monday opening average. The market fell to $3.13 on both Tuesday and Wednesday before regaining 9 cents and averaging $3.22 on both Thursday and Friday, an overall 4 cent decline from the previous Friday average (Figure 1). Highest daily individual market price for the past week was $3.30 at Osceola on Friday. Low quote of the week was $2.93 at Little Rock on Tuesday. Closing prices on Friday ranged from a low of $3.09 at Little Rock to the high of $3.30 at Osceola. The closing range of 21 cents was 8 cents narrower than the previous week. Five markets, West Memphis, Helena, Osceola, Pine Bluff, and Little Rock, provided price quotes on various days of the past week.
April cash trading in 2019 crop yellow corn began the month with a 5 cent loss on the first trading day and trended steadily lower throughout the month (Figure 2). The decline from the last March trading day average put the opening day statewide average at $3.47. Despite the rally over the last two days of trading, Arkansas corn ended April at $3.22, an overall decline of 30 cents from the last daily average in March. High individual daily market quote of the month was $3.60 at Osceola on April 1 and 2. The low individual daily market quote was $2.93 at Little Rock on April 28. The overall statewide average for April was $3.30 for the 2019 crop No. 2 yellow corn, down 42 cents from the 2019 crop average in March. The 2020 annual average over the first four months now stands at $3.78 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.)