Corn, soybeans, and wheat were up; cotton was down for the week.
A good bounce back week for grain and oilseed futures prices after last week’s bearish USDA stocks report. The rally this week was partially driven by a new trade deal (USMCA formally NAFTA) with Canada and Mexico as well as harvest weather concerns across the Midwest. As harvest progresses it remains unlikely that a significant rally in soybean or corn cash prices occurs – due primarily to the size of this year’s crop – without movement in a trade deal with China, which does not appear to
be forthcoming. As such, producers should consider storage or delayed pricing alternatives that can extend the marketing interval.Continue reading at Tennessee Market Highlights.