Corn, cotton, soybeans, and wheat were down for the week.
The big news for markets this week was the release of the USDA’s May World
Agricultural Supply and Demand Estimates (WASDE) report. The May Report
provided the first WASDE estimates for the new crop (2018/19 marketing
year). The planted acreage data was from the Prospective Plantings report
and the yield data was a weather adjusted trend yield, so it is likely that many changes will occur over the growing season as more information is revealed. However, the report does set a “baseline” for production, use, and stocks for the each crop. Continue reading at Tennessee Market Highlights.