Corn, soybeans, and wheat were down; cotton was up for the week.
Prices for grains and oilseeds were down across the board as low exports
remain a major concern in grain markets. As of February 22, accumulated exports of corn, soybeans and wheat were 5% above, 25% below, and 15% below the five year average for this week in the marketing year. Similarly, total export commitments (accumulated exports plus outstanding sales) as a percent of total projected USDA marketing exports were: corn – 64% (5-year average of 71%), soybeans -76% (5-year average of 89%), and wheat – 81% (5-year average of 94%). The longer exports lag projections the more worries about higher domestic stocks will weigh on markets. Continue reading at Tennessee Market Highlights.