Corn, cotton, soybeans, and wheat were up for the week. December corn prices increased for the week with higher-highs each trading day. Harvest corn futures are now above the March 31 levels that were the result of the Prospective Plantings report. It is very likely (baring a weather disturbance during planting) that harvest corn futures will continue to trade between $3.74 and $4.04 – the trading range since early October for the December 2017 contract.
November soybeans set a 6-month low on Tuesday before increasing 20 cents on Wednesday and Thursday to close at $9.61 ¾. In March soybeans received a lot of bearish news (record South American crop, increased domestic acreage, and greater soybean stocks than previously estimated); however export demand and domestic crush remain strong so, for now, further dramatic de-creases in prices seem unlikely. Continue reading at Tennessee Market Highlights.