Corn, cotton, and soybeans were up; wheat was mixed for the week.
Commodity markets are positioning for potential damage from hurricane Irma.
December cotton prices were up 2.71 cents (and set a new 1-year high at 75.75)
for the week as expected land fall of Irma in Georgia and the Carolinas could
cause significant damage to the cotton crop.
The marketing year for corn and soybeans came to a conclusion on August 31. Compared to the previous marketing year, exports were up 19% and 14% for corn and soybeans, respectively. Top importers of soybeans (percent of world imports) were China (64%), the European Union (10%), and Mexico (3%). Top importers of corn were Japan (11%), Mexico (11%), and the European Union (10%). From 2013-2016, 13-15% of US produced corn was exported and 46-50% of US produced soybeans (this does not include processed products
such as DDGs and soybean meal). Continue reading at Tennessee Market Highlights.