By Bob Stark, Agricultural Economist and Jason Kelley, Extension Agronomist – Wheat and Feed Grains
The Arkansas No. 2 Yellow Corn Cash Market showed some strength in the short past week of trading with a midweek 7 cent gain that was mostly retained through closing trade (Figure 1). No USDA-AMS market report was filed on Monday due to the Memorial Day holiday. Price rose 1 cent over the extended weekend and opened on Tuesday at $3.29, unchanged from the previous week Monday opening average. The market rose to $3.31 on Wednesday, but got a 7 cent increase on Thursday before giving back 2 cents to its close on Friday. The ending statewide average was $3.36, an overall 8 cent rise from the previous week closing average. Highest daily individual market price for the short past week was $3.51 at Osceola on Thursday. Low quote of the week was $3.09 at Little Rock on Tuesday. Closing prices on Friday ranged from a low of $3.16 at Little Rock to a high of $3.49 at Osceola. The closing range of 33 cents was 4 cents narrower than the previous week. Only five markets provided price quotes each day of the past week as Helena was absent on Friday.
May 2020 Monthly Summary
May cash trading in 2019 crop yellow corn began the month steady from the last April trading average. Price slowly trended higher throughout the month and reached its peak on the next to last trading day (Figure 2). The May opening day statewide average was $3.22. The month-long upward price trend carried Arkansas corn to an ending average of $3.36, an overall increase of 14 cents from the last daily average in April. High individual daily market quote for May was $3.51 at Osceola on May 28. The low individual daily market quote was $2.99 at Little Rock on May 6, the only individual market quote statewide under $3.00 during the month. The overall statewide average for May was $3.27 for the 2019 crop No. 2 yellow corn, down 3 cents from the 2019 crop average in April when price began the month near $3.50 and steadily declined. The 2020 annual average over the first five months now stands at $3.67 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.)