Corn, cotton, soybeans, and wheat were up for the week.
This week nearby contracts for corn ($3.61) and wheat ($4.27) set new six
month contract lows before rallying mid-week to close up for the week – as at the close of business on Thursday. Marketing year exports continue to lag well behind the pace required to meet USDA 2018/19 marketing year export projections. Strong competition for export markets for wheat (Russia and the EU) and corn (Brazil and Ukraine) continue to persist. Stocks of wheat and corn are projected to reduce compared to the previous marketing year, however they remain near record large. Low global prices will continue to persist barring a weather event that constricts global grain production and further reduces stocks. Continue reading at Tennessee Market Highlights.