By Bob Stark, Agricultural Economist and Jason Kelley, Professor and Extension Agronomist – Wheat and Feed Grain
The Arkansas No. 2 Yellow Corn Cash Market continued its downward slide by losing 1 cent over the weekend and moving lower each day of the past trading week (Figure 1). Price opened on Monday at $3.37, 3 cents under the statewide average opening price of the previous week Monday trading. The market lost 1 to 6 cents each trading day and closed the week at a Friday closing statewide average of $3.25, an overall 13 cent decline from the previous week closing average. Highest daily individual market price for the past week was $3.56 at Osceola on Monday. Low quote of the week was $3.06 at Little Rock on Wednesday, Thursday, and Friday. Price quotes were received daily from four different markets during the past week. Closing prices on Friday across the reporting markets ranged from the low of $3.06 at Little Rock to a high of $3.35 at Osceola. The closing range of 29 cents was 13 cents narrower than the previous week.
July 2020 Monthly Summary
July cash trading in 2019 crop yellow corn began the month optimistically with a 7 cent gain from the last June trading day average. Price remained fairly steady through July 9 before entering a decline that extended through the remainder of the month. The market declined to its July monthly low on the last trading day (Figure 2). The July opening day statewide average was $3.58. The generally lower price trend of the month carried Arkansas corn to an ending average of $3.25 on July 31, an overall decrease of 26 cents from the last daily average in June. High individual daily market quote for the month was $3.76 at Osceola on July 9. The low individual daily market quote was $3.06 at Little Rock on July 29, 30, and 31. The overall statewide average for July was $3.41 for the 2019 crop No. 2 yellow corn, up 5 cents from the 2019 crop average in June. The 2020 annual average over the first seven months now stands at $3.60 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.)