By Bob Stark, Agricultural Economist
The Arkansas No. 2 Yellow Corn Cash Market had an uneventful trading week that left the closing market price just slightly higher (Figure 1). Price opened on Monday at $3.62, 17 cents over the statewide average opening price of the previous week Monday trading. The market posted gains through Wednesday before suffering a 5 cent Thursday loss that was mostly offset by a Friday 4 cent gain to end the week. The closing Friday statewide average was $3.65, an overall 4 cent improvement from the previous week closing average. Highest daily individual market price for the past week was $3.74 at Osceola on Monday. Ironically, the low quote of the week was $3.39 at Little Rock, also on Monday. Five markets provided quotes each trading day during the past week and two other markets were only absent quotes on Monday. Prices for the closing on Friday across the seven reporting markets ranged from a low of $3.59 at Osceola to a high of $3.70 at Helena. The closing range of 11 cents was 1 cent wider than the previous week.
The price decline seen in July for 2019 crop yellow corn was more than offset by a strong August price increase. First day trading to begin the month was steady from the last July trading day average. Price declined 10 cents on the second trading day, but steadied and then began an increase over the first weekend that continued through the remainder of the month (Figure 2). The August opening day statewide average was $3.25. The statewide average weekly low was seen on August 4 at $3.15. The Arkansas corn ending average of $3.62 on August 31 was the monthly high and left the market with an overall increase of 37 cents from the last daily average in July. High individual daily market quote for the month was $3.74 at Osceola on August 31. The low individual daily market quote was $2.98 at Little Rock on August 4. The overall statewide average for the month was $3.35 for the 2019 crop No. 2 yellow corn, down 6 cents from the 2019 crop average in July. The 2020 annual average over the first eight months now stands at $3.57 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.)