Category Archives: Cotton

Tennessee Market Highlights

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

Soybean prices continue to whipsaw based on news/speculation regarding three issues: 1) China-U.S. trade negotiations; 2) Brazilian weather – specifically dry conditions in the northeast; and 3) export sales (1 and 2 are driving 3). Availability of export data has been reduced due to the partial government shutdown leading to a greater divergence in export sales estimates. USDA reports can be viewed as a type of baseline line that provides market participants with a common estimate to base trading decisions on. This is not to say that the USDA estimates are correct or more accurate than estimates provided through other market sources, however the USDA estimates provide an equal starting point for market participants. Individual opinions, about the accuracy of the USDA’s estimates, will deviate substantially and allow traders to roll the dice one way or the other. Continue reading at Tennessee Market Highlights.

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Upcoming Events

January 22, 2019 – Fayette/Hardeman County Extension Crop Production (Lone Oaks Farm, Middleton, TN) 10AM-12PM (Contact Jeff Via or Josh German for details)

January 23, 2019 – Tipton County Extension Crop Production (Farm Bureau Office, Covington, TN) 9AM-12PM (Contact Becky Muller for details)

January 25, 2019 – Gibson County Extension Crop Production (1252 Manufacturers Row Trenton, TN 38382) 8AM-2PM (Contact Philip Shelby for details)

January 28, 2019 – Haywood County Extension Crop Production (H&R Agripower, Brownsville, TN) 10AM-12PM (Contact Lindsay Griffin for details)

January 29, 2019 – Crockett County Extension Crop Production (Gibson Electric, Alamo, TN) 7:30AM-11AM (Contact Richard Buntin for details)

February 5, 2019 – Middle Tennessee Grain Conference (Coffee County Fairgrounds, Manchester, TN)

February 7, 2019 – West Tennessee Grain and Soybean Conference (Dyersburg, TN)

February 15, 2019 – Cotton Focus (West Tennessee Research and Education Center, Jackson, TN) … 8 AM-12PM (lunch provided, pre-registration is not required)

February 20, 2019 – Tennessee Agricultural Production Association Winter Agronomic Workshop (DoubleTree Hotel, Jackson, Tennessee)

 

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Tennessee Market Highlights

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

The partial government shutdown has resulted in several key reports (WASDE, Crop Production, and Grain Stocks being delayed. Reports will be released, however the USDA will determine the release schedule after the government resumes normal operations. An addition consequence of the partial shutdown is the inability for producers to complete paper work at FSA for Market Facilitation Program (MFP) payments. The payments were provided to producers to help mitigate the impact of retaliatory tariffs on commodity prices. The application dead-line was initially set as January 15, 2019, however USDA Secretary of Agriculture Sonny Perdue extended the deadline indicating: “We will therefore extend the application deadline for a period of time equal to the number of business days FSA offices were closed, once the government shutdown ends…”. This should allow producers time to complete the required paper work to obtain payments for 2018 production. Continue reading at Tennessee Market Highlights.

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Enlist Soybean Gains China Approval: Some Thoughts

The news this week was the China approval of Enlist E3 soybeans (soybeans tolerant to glufosinate, glyphosate and 2,4-D) for import.  China also approved the import of Syngenta’s MGI soybeans.  Those soybeans are tolerant to Callisto, glufosinate and Balance herbicides. My understanding is this MGI trait in soybeans still needs EU approval so unlike the Enlist E3 soybeans they will not be offered for sale this year. Continue reading

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2018 TN Cotton Variety Trial Results now available (PB1742)

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The 2018 TN Cotton Variety Trial Results Publication (PB1742) is now available online. This document contains detailed results from all harvested trails in the 2018 University of Tennessee Cotton Variety Testing Program.  This expanded publication follows the recently published summary publication, the 2019 TN Cotton Variety Guide (W285) which was released a few weeks ago.

 

The tech-trait diversity in the top performers again highlights the excellent yield potential, stability and fiber quality currently available in commercial cultivars regardless of tech platform. Trial results reported from the 2018 season include 58 varieties entered into 7 Official Variety Trials (OVTs) and 18 varieties entered into 10 County Standard Trials (CSTs).  Both OVTs and CSTs were scattered throughout TN’s cotton producing counties.  Additionally, in-season plant measurements and multi-year yield averages were reported for the OVTs.

We will be releasing results from a June planted OVT later this winter, so keep an eye out for those results on this blog.

Special thanks to all those who participated and/or contributed to the program during the 2018 growing season, and look forward to seeing many of you during our 2019 meetings.

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Tennessee Market Highlights

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

2018 was an eventful year in corn, cotton, soybean, and wheat markets.
Trade, domestic policy, global economic growth, large yields, and poor harvest conditions all had substantial impacts on commodity prices. As always, supply and demand played an important role in commodity markets however, 2018 will likely be remembered for the many external influences – trade disruptions, Market Facilitation Program payments, a New Farm Bill, and government shut down to name a few – that inserted
tremendous volatility into commodity prices and producer profitability.

Looking out to the 2019 crop some price prospects have improved, compared to 2018, others have deteriorated. Last year at this time the new crop harvest contracts (2018 crop year) for the month of December (2017) averaged: $3.84/bu for corn; $9.91/bu for soybeans; 72.74 cents/lb for cotton; and $4.50/bu for wheat. In 2018, the new crop harvest contract (2019 crop year) for the month of December (2018) averaged: $4.01/bu for corn; $9.48/bu for soybeans; 76.25 cents/lb for cotton; and $5.34/bu for wheat. So the good news is corn, cotton and wheat were up 17 cents, 3.51 cents, and 84 cents (soybean prices were down 43 cents form a year ago). Continue reading at Tennessee Market Highlights.

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Tennessee Market Highlights

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

On Monday, the USDA confirmed that a second round of payments under the Market Facilitation Program (MFP) would be provided to several commodities, including: corn, cotton, soybeans, and wheat. Previously payments were announced on 50% of 2018 production. This week’s announcement provided payments on the remaining 50% of 2018 production. The MFP payments were implemented to assist producers that were adversely affected by retaliatory tariffs. Producers are required to complete the MFP application (Form CCC-910) at USDA-FSA prior to January 15, 2019, however they have until May 1 to certify production. MFP payment rates are: $0.06/lb for cotton; $0.01/bu for corn; $1.65/bu for soybeans; and $0.14/bu for wheat. Combined payment limits of  $125,000 for corn, cotton, soybeans, and wheat are capped per person or legal entity. It is important to note that production is certified by the producer, however it is important that appropriate records are  maintained for verification purposes (including any quality  adjustments). Continue reading at Tennessee Market Highlights.

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