Corn, soybeans, and wheat were down; cotton was up for the week. December corn futures closed down 8 cents this week. December corn futures have decreased 14 cents since March 9. Markets will closely monitor planting progress and weather forecasts as we move into next week. Planting progress has been behind the 5-year average, however forecasts have improved planting conditions in the next 5-7 days.
November soybean futures dropped 14 cents this week. This week volatility in soybean markets was muted compared to the previous two weeks as the trade rhetoric between the United States and China has cooled. For now, markets appear to be taking a wait and see approach to any trade disruptions. Potential tariffs are currently providing a great deal of uncertainty in soybean markets and the long term ramifications for U.S. soybean producers could be profound. Continue reading at Tennessee Market Highlights.