Corn and wheat were up; soybeans and cotton were down for the week. Nearby corn futures remain range bound, trading between $3.45 and $3.70; however, March futures prices have closed up for three consecutive weeks. Rallies, even small ones, should be viewed as opportunities for old crop sales. Look for basis opportunities to assist in obtaining higher cash corn prices. New crop corn is currently trading just under $4.00. Similar to old crop, prices have climbed for three straight weeks. Given large domestic supplies pricing some 2018 production when harvest futures are near $4.00 should be strongly considered. Continue reading at Tennessee Market Highlights.
02 Feb 2018