Corn and wheat were up; soybeans and cotton were down for the week.
For the past three months, harvest corn futures prices have traded between $3.78/bu and $3.95/bu, below the projected price for crop insurance of $3.96/bu established in February. Harvest soybean futures have declined substantially (currently trading at $9.30-$9.40/bu) from the projected crop insurance price of $10.19/bu. For those that have an acceptable level of crop priced (25-65% of anticipated production) a wait and see marketing approach is likely warranted. For those with no crop priced establishing a price on a quarter of estimated production may be worth considering. Continue reading at Tennessee Market Highlights.