By Bob Stark, Agricultural Economist and Jason Kelley, Professor and Extension Agronomist – Wheat and Feed Grains
The Arkansas No. 2 Yellow Corn Cash Market gained 8 cents over the past weekend and continued higher daily for most of the trading week that was shortened for the July 4 holiday (Figure 1). Price opened on Monday at $3.39, just 1 cent above the statewide average opening price of the previous week Monday trading. Price rose on Tuesday and Wednesday before giving back part of the gains in the Thursday final trading day. The Thursday closing statewide average stood at $3.52, an overall 21 cent gain for the week from the previous week closing average. Highest daily individual market price for the past week was $3.70 at Osceola on Wednesday. Low quote of the week was $3.26 at Little Rock on Monday. Price quotes were received daily from six different markets during the past week, but only two provided quotes every day. Closing prices on Thursday across the three reporting markets ranged from a low of $3.34 at Little Rock to a high of $3.62 at Osceola. The closing range of 28 cents was 5 cents wider than the previous week.
June 2020 Monthly Summary
June cash trading in 2019 crop yellow corn began the month with an 8 cent drop from the last May trading day average. Price slowly trended higher through most of the month, reaching a peak of $3.43 on June 19. The market declined to $3.29 by June 25 before rallying to its monthly high on the last trading day (Figure 2). The June opening day statewide average was $3.28. The generally upward price trend carried Arkansas corn to an ending average of $3.51, an overall increase of 15 cents from the last daily average in May. High individual daily market quote for the month was $3.67 at Osceola on June 30. The low individual daily market quote was $3.13 at Little Rock on June 1. The overall statewide average for June was $3.36 for the 2019 crop No. 2 yellow corn, up 9 cents from the 2019 crop average in May. The 2020 annual average over the first six months now stands at $3.63 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.)