Corn, soybeans, and cotton were down; wheat was mixed for the week. December corn established a new contract low on Friday at $3.33 ¼. Corn futures are now at the lowest point since October 2014 when prices bottomed out at $3.18 ¼. Adequate moisture, limited excessive temperatures-to-date, and improved July-August forecasts have been the primary driver for harvest futures declining from a high of $4.49 on June 17 to the new low this week (a net decrease of $1.16 per bushel or a 26% loss in value). Harvest soybean price declines have been just as dramatic as corn, with a decrease of $2.20 per bushel or 18.5% ($11.86 on June 13 to a low of $9.66 on July 22). Continue reading at Tennessee Market Highlights.
Corn: September corn futures have declined by $0.18 since the market’s open on Monday morning. During today’s trade, a new contract low was established for the September futures contract. Weather continues to be the dominating factor that is pushing corn prices lower. Extended forecasts are showing milder temperatures for the Midwest for the next 30 days with some rain forecasted for most of the Midwest in August. Also, Iowa and Illinois reportedly have adequate soil moisture, which further reduces the chance of a smaller corn crop. Continue reading
CONTINUED RAINS IMPROVE CROP AND PASTURE CONDITIONS
Continued rains in the eastern part of the state helped the condition of pastures and crops immensely. Some producers are looking forward to additional cuttings of hay soon. Overall, crops are continuing to progress well in West Tennessee. Scattered showers to heavy rains last week brought relief to crops, but a general, soaking rain is still needed. Heavy rainfalls in Middle Tennessee practically shut down field activities with the exception of sucker control application. Continue reading Tennessee NASS report at TN_07_18_16. The U.S. Crop Progress report can be read at CropProg-07-18-2016.
Corn was down; cotton was up; and soybeans and wheat were mixed for the week. Volatility in soybean futures continued this past week as traders adjusted to weather forecasts and USDA supply and demand reports. From Monday to Friday, November soybeans traded down 17, up 29 ½, up 10 ½, down 43 ¾, and down 5. Volatility can provide producers with greater pricing opportunities but it also makes the pricing decision more difficult due to reduced certainty in market direction or fear of pricing too low. As such, it is very important to know how much production you are comfortable pricing at specific price points and executing sales at those price points. Continue reading at Tennessee Market Highlights.
Corn: September corn futures have traded sideways since the market’s open on Monday morning. Earlier in the week, corn futures were higher due to the USDA’s lower than expected carry out in the latest World Agricultural Supply and Demand Estimate (or WASDE) report. The WASDE report was released and it indicated that corn ending stocks were 2.08 billion bushels. This was lower than the average trade estimate of 2.205 billion bushels. Normally, when you have a report that indicates lower supplies, you would expect to see higher prices in the corn market. Continue reading
While you are at the July 28th Milan No-Till Field Day, stop in on Tour O:Farmers vs Hunger in the Ag Museum and help us package up mac & cheese meals. See below for additional information
This tour will run continuously from 9:00 a.m. to 2:00 p.m. Stop by the West Tennessee Agricultural Museum, cool off from the hot sun, and participate in the Farmers vs. Hunger tour stop. This stop is a unique blend of what can be accomplished when farmers and others in the agricultural community come together to address the needs of those who are in need. Continue reading
Properly managing cotton fertility is an important step in maximizing the efficiency and productivity of all cotton production systems; mismanagement by either over- or under-applying a given nutrient can result in yield penalties and substantial increases in expenses. This year has been no exception- K deficiencies are present in many West TN cotton fields (see adjacent image) and sulfur deficiencies are appearing sporadically as well (see July 6th 2016 article on our modified recommendations). Although I’ve only seen a few areas which are currently deficient in N, it is a safe bet that the number of areas deficient in N and most other nutrients will increase as we move into boll fill. Continue reading
It’s shaping up to be a busy year managing plant bugs, but I’m also seeing and hearing about spider mites in some fields. I’ve previously discussed insecticide selection for plant bugs (see linked articles below). Now that almost all of the cotton is blooming, you should begin focusing on immature plant bugs when you sample. I prefer using Continue reading