Category Archives: Cotton

Tennessee Weekly Crop & Weather Report

RAINS CONTINUE TO DELAY HARVEST

The rains that fell last week continued to keep farmers out of their fields and again delayed progress on the harvesting of soybeans and cotton. The excessive moisture has also caused quality issues with these crops. Wheat planting was also put on hold by the rains. There were 2.2 days suitable for fieldwork last week. Topsoil moisture rated 1 percent short, 42 percent adequate, and 57 percent surplus. Subsoil moisture rated 1 percent short, 45 percent adequate, and 54 percent surplus. Continue reading at TN_11_19_18.  The U.S. Crop Progress report can be read at CropProg-11-19-2018.

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Tennessee Market Highlights

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

Since early October, March corn futures have traded between $3.70 and $3.90. Continued trading in this range seems likely as we move into December. Record U.S. yield and delays in the remaining harvest, due to adverse weather, continue to influence the market. Export sales pace will be watched closely as global stocks are projected to shrink for the second consecutive year.

January soybean futures have shown strength in recent weeks and are now approaching the upper end of the 3 month trading range of $8.25 to $9.05. A great deal of insecurity remains in soybean markets due to continued trade uncertainty. Markets will be looking for additional trade information leading up to a key meeting November 30 between President Trump and Xi. Continued volatility based on news reports and Twitter remains likely as we approach the meeting date. Continue reading at Tennessee Market Highlights.

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Commodity Market Update – 11/15/2018

Corn: December futures closed at $3.67, up only half a cent from the market open. For the week, corn futures have declined approximately two cents from the market’s open on Monday. The USDA’s latest World Agricultural Supply and Demand Estimate (WASDE) showed that ending stocks to continue to be drawn down due to steady demand for corn. Domestic consumption is estimated to be above 2016 and 2017 levels. However, the WASDE report did indicate that global corn production is expected to be higher due to increase production in China. Continue reading

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Tennessee Weekly Crop & Weather Report

FIELD WORK AND CROP DEVELOPMENT SLOWED BY COOL,
WET WEATHER CONDITIONS

Row crops and small grains are still being harvested at a slow pace, and small grains continue to develop gradually. There were 2.6 days suitable for fieldwork last week, nearly a full day less than the previous week.
Topsoil moisture rated 1 percent very short, 1 percent short, 56 percent adequate, and 42 percent surplus. Subsoil moisture rated 1 percent very short, 1 percent short, 59 percent adequate, and 39 percent surplus.  Continue reading at TN_11_13_18.  The U.S. Crop Progress report can be read at CropProg-11-13-2018.

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Tennessee Market Highlights

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

This week the USDA released the November WASDE and Crop Production re-ports. Details of the WASDE report for corn, soybeans, cotton, and wheat are available at: Supply & Demand Estimates and Profitability Outlook.

The Crop Production report estimated 2018 National (Tennessee) corn, soybean, and cotton yields at: 178.9 bu/acre; down 1.8 bu/acre (173 bu/acre; down 1 bu/acre), 52.1 bu/acre; down 1 bu/acre (48 bu/acre down 2 bu/acre), and 836 lb/acre; down 51 lb/acre (1,048 lb/acre; up 14 lb/acre).

For the week, markets moved mostly sideways to down. The yield revisions for corn, soybeans, and cotton, were viewed as positive for prices, however the markets were anticipating yield decreases so the price response was muted. Continue reading at Tennessee Market Highlights.

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Supply and Demand Estimates and Profitability Outlook

This link  Supply & Demand Estimates & Profitability Outlook is a summary of the USDA’s November 8th, 2018 World Agricultural Supply and Demand Estimates (WASDE) report. Domestic balance sheets for corn, soybeans, cotton, and wheat are displayed along with price reaction in futures markets for each commodity on the day of the report release. Additionally, supply and demand estimates for key importing and exporting countries are provided for the current month along with change in estimates from the previous report. The Profitability Outlook section contains estimated returns per acre for 2019 for each commodity based  on 2018 Tennessee state average/trend yields and current price offerings (note: cotton prices include a seed and hauling rebate). Variable expenses are based on the University of Tennessee Extension 2018 Row Crop Budgets. Prices are updated monthly; expenses are updated as warranted during the year and may be different than the expenses contained in the 2018 Row Crop Budgets. This section provides an estimation of the current relative profitability amongst major row crops in Tennessee.
The report is prepared monthly by Dr. Aaron Smith and Chuck Danehower.
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