Tennessee Market Highlights

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Corn, cotton, soybeans, and wheat were up for the week.

This week commodities strengthened on easing of trade tensions with the
E.U. and supportive weather forecasts. Trade will remain at the forefront of
agricultural markets as the U.S. Administration is currently negotiating new
deals with China, E.U., Canada, and Mexico.

To assist farmers with declines in commodity prices, as a result of retaliatory tariffs, the USDA announced $12 billion in support. Details remain vague, however the USDA will use the Commodity Credit Corporation, Farm Service Agency, Agricultural Marketing Service, and Foreign Agricultural Service to enact and administer three general programs: 1) Market Facilitation Program through Farm Service Agency – payments to agricultural producers; 2) Food Purchase and Distribution Program through the Agricultural Marketing Service – purchase of surplus supplies and distribution of the supplies to nutrition programs and charities; and 3) Trade Promotion Program administered by the Foreign Agriculture Service – market expansion (through trade promotion). Continue reading at Tennessee Market Highlights.

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