West Tennessee Grain Elevator Bids: West Tennessee Grain Bids 4-21-2017

Corn: September corn futures closed $0.09 lower for the week. The average basis for new crop corn was -$0.11 for West Tennessee.

Soybeans: November soybean futures closed $0.05 lower for the week. The average basis for new crop soybeans was -0.16 for West Tennessee.

Wheat: July wheat futures closed $0.22 lower for the week. The average basis for new crop wheat was $0.04 for West Tennessee.

Cotton: December cotton futures closed at 74.93 for the day. Cotton equities continue to be near $0.19 for West Tennessee.

Take Home Message: The decline in commodity prices could erode profitability for many in 2017. Producers will have to be vigilant market watchers once we enter a weather market. Detailed commentary will return next week.