All posts by Chuck Danehower, Extension Area Specialist - Farm Management

Tennessee Market Highlights

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.


Tennessee Market Highlights

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

On Friday, the USDA released the March WASDE report. The report was not expected to make any major revisions to domestic balance sheets for corn, cotton, soybeans, and wheat. The report met this expectation by making small modifications to corn exports and ethanol use (down 75 and 25 million bushels), soybean crush (up 10 million bushels), cotton (decreased season average farm price by 2 cents per lb), and wheat decreases for food use and exports (5 and 35 million bushels). Details of the report for corn, cotton, soybeans, and wheat are available online at Tennessee Monthly Comments and Profitability Update. Continue reading weekly comments at Tennessee Market Highlights.


Tennessee Market Highlights

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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.


Tennessee Market Highlights

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

On Friday morning, USDA released marketing year supply and demand estimates for the 2019/20 marketing year (2019 crop). The estimates released were provided at the annual USDA Outlook Conference in Arlington, VA. USDA outlook for cotton, dairy, grains and oilseeds, livestock and poultry and sugar are available online at:
USDA Outlook Conference. Continue reading at Tennessee Market Highlights.


Tennessee Market Highlights

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Cotton, soybeans, and wheat were down; corn was flat for the week.

It was a rough start to the week for corn, soybean, and cotton prices. Wheat prices tailed off at the end of the week due to lower prices from export com-petition with Russia and France. 2019 corn harvest futures prices continue to trade in a tight 10 cent range, $3.95 to $4.05. At the end of the week, corn futures were right in the middle of the range. Expect corn futures pric-es to move sideways with trade, South American weather, and U.S. planting intentions providing the potential to push prices out of the range. 2019 harvest soybean futures have started to plateau, moving sideways the past month and a half. Trade news between China will likely jolt the market lower or higher before the end of the month. Mixed soybean production reports for Argentina (up) and Brazil (down) provide potential offsets to current estimates. On Monday and Tuesday, December cotton futures dropped nearly 2 cents and then moved sideways for the rest of the week. Continue reading at Tennessee Market Highlights.


Farmland Legacy Workshop-Feb 21 Ripley

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The University of Tennessee Extension is sponsoring a Farmland Legacy program on Thursday, February 21 at the UT Martin Ripley Center, 315 Washington St. in Ripley. The program will start promptly at 9 a.m. and conclude by 3 p.m. Lunch and workshop materials are included.

This informative program will provide farmers and landowners with tools for estate and succession planning, wealth protection, farm management, and how to use this information to plan for the future.  Many changes in estate tax law have occurred the last few years and it is important for producers and landowners to update or initiate their estate and succession plan.

Planning the future of your farm can be a difficult and emotional task. The Farmland Legacy Workshop will help in the planning process by providing valuable resources for all generations. Let the workshop help you start the dialogue with your family and plan today for the future of your farm. For additional information or to reserve your spot please call the UT Extension office at 731-221-1800.


Tennessee Grain Stocks (NASS report)

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Released: February 11, 2019

TENNESSEE GRAIN STOCKS

Tennessee corn stocks stored in off-farm facilities on December 1, 2018 totaled 29.7 million bushels, compared to 33.7 million bushels stored off-farm on December 1, 2017 according to USDA’s National Agricultural Statistics Service. Soybean stocks stored off the farm totaled 14.5 million bushels on December 1, 2018 compared to 13.4 million bushels stored off the farm the previous year. Tennessee wheat stocks stored off the farm totaled 8.6 million bushels on December 1, 2018 compared to 13.6 million bushels stored off the farm on December 1, 2017. Oat stocks stored off the farm on December 1, 2018 totaled 36,000 bushels, up 5,000 bushels from off-farm stocks this time last year. Continue reading at GrainsStocks1218_TN.


Tennessee Market Highlights

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

On Friday, the USDA released several reports that were delayed due to the partial government shut down. Highlights of key reports are presented be-low. Additional WASDE report details and analysis can be found at:  Monthly Crop Comments.

Winter Wheat and Canola Seedings

Nationally, winter wheat planted acres were estimated at 31.29 million acres, down 3.8% compared to 2018. U.S. winter wheat acres planted were estimated to be the lowest since 1909. In Tennessee, winter wheat planted was estimated at 330,000 acres, down 50,000 from 2018. Lower planted acres in Tennessee was largely due to wet conditions that delayed soybean harvest and limited fall/winter field work. Continue reading at Tennessee Market Highlights.