By Bob Stark, Agricultural Economist and Jason Kelley, Professor and Extension Economist – Wheat and Feed Grain
The Arkansas No. 2 Yellow Corn Cash Market rose 3 cents over the weekend and followed that gain with daily price improvements through most of the past week. Price showed an overall gain for the week even with a downward correction on Friday (Figure 1). The market opened on Monday at $3.85, a 1 cent gain over the statewide average opening price of the previous week opening day. Price moved to an even $4.00 on Wednesday and added another 2 cents Thursday. The Friday correction gave back 7 cents to set the closing statewide average at $3.95, an overall 13 cent gain from the previous week closing average. Highest daily individual market price for the past week was $4.11 at Osceola on Wednesday. Low quote of the week was $3.70 at Little Rock on Tuesday. Five markets provided quotes each trading day during the past week with two other markets making submissions on selected days. Prices for the closing on Friday covered six reporting markets and ranged from a low of $3.85 at Little Rock to a high of $4.05 at Helena. The closing range of 20 cents was 1 cent narrower than the previous week span.
The price improvement seen in August for cash market yellow corn was duplicated in a more modest manner during September. First day trading to begin the month was 2 cents higher than the last August trading day average. Price added another 2 cents on the second trading day and maintained that trend throughout the month (Figure 2). The September opening day statewide average was $3.64, a robust 39 cents above the August opening day average. That opening statewide average was the daily average low for the month. The Arkansas corn ending average of $4.00 on September 30 was the first to reach $4.00 since late January. That average put the market at an overall increase of 38 cents from the last daily average in August. High individual daily market quote for the month was $4.11 at Osceola on September 30. The low individual daily market quote was $3.56 at Blytheville on September 3. The overall statewide average for the month was $3.79 for No. 2 yellow corn, up 44 cents from the crop average in August. The 2020 annual average over the first nine 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.)