By Bob Stark, Agricultural Economist and Jason Kelley, Professor and Extension Agronomist – Wheat and Feed Grains
The Arkansas No. 2 Yellow Corn Cash Market maintained its price level over the past weekend and remained steady into midweek before suffering a decline. The market stabilized after that midweek fall and finished trading without any additional losses (Figure 1). The market opened trading on Monday at $4.35, an 18 cent gain over the statewide average opening price of the previous week opening day. Price was steady through Tuesday, but fell 13 cents on Wednesday. The market then stabilized and stayed steady to finish the week. Friday trading saw the closing statewide average at $4.19, an overall 15 cent loss from the previous week closing average. Highest daily individual market price for the past week was higher with $4.45 at Osceola on Monday. Low quote of the week was $4.04 at Little Rock on both Thursday and Friday. Seven markets continued to provide quotes each trading day during the past week. Prices for the closing on Friday from the seven reporting markets ranged from the low of $4.04 at Little Rock to a $4.30 high at Osceola. The closing range of 26 cents was 9 cents wider than the previous week span.
October 2020 Monthly Summary
Arkansas cash market yellow corn price trended higher for the third straight month in October. First day trading to begin the month was 2 cents higher than the last September trading day average. Price fell 7 cents on the second trading day and held steady on day 3 before turning upward. The market had eleven days of gain compared to only seven of loss and two steady through the month (Figure 2). The October opening day statewide average was $4.02, a robust 38 cents above the September opening day average. The day two and three statewide averages of $3.95 each represented the daily average low for the month. Despite a 14 cent decline to end the month, the Arkansas corn ending average of $4.19 on October 30 placed the market at 19 cents above the last daily average in September. High individual daily market quote for the month was $4.45 at Osceola on October 26. The low individual daily market quote was $3.85 at Little Rock on both October 2 and 5. The overall statewide average for the month was $4.14 for No. 2 yellow corn, up 35 cents from the crop average in September. The 2020 annual average over the first ten months now stands at $3.67 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.)