By Bob Stark, Agricultural Economist and Jason Kelley, Professor and Extension Agronomist – Wheat and Feed Grains
The Arkansas No. 2 Yellow Corn Cash Market had a rather uneventful past week. Price lost 3 cents over the past weekend and then weakened very slightly throughout the trading week (Figure 1). USDA-AMS did not publish an Arkansas Daily Grain Report on Tuesday so only four days of price quotations were available for descriptive analysis. Price opened on Monday at $3.40, 2 cents above the statewide average opening price of the previous week Monday trading. Price was shown 1 cent lower in the Wednesday quotes, steady on Thursday, and another cent lower on Friday to end the week. The Friday closing statewide average was $3.38, an overall 5 cent decline from the previous week closing average. Highest daily individual market price for the past week was $3.62 at Osceola on Thursday. Low quote of the week was $3.16 at Little Rock on Friday. Price quotes were received daily from just three different markets during the past week. Closing prices on Friday across the reporting markets 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 1 cent wider than the previous week. Arkansas cash corn price has now fallen 20 cents below the first statewide average price of the month on July 1.
(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.)