Category Archives: Cotton

Tennessee Market Highlights

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

Announcement of Chinese purchases of soybeans was welcome news early in the week, however the magnitude of the purchases remains to be seen. As such, entering the weekend soybeans retreated from mid-week highs. Next week, markets will pay close attention to the USDA export sales numbers (numbers are always lagged), hints of additional/future purchases, and progress on the resolution of the China-US trade dispute.

In December, the 2019 (2018) new crop harvest futures contract for: corn has averaged $4.03/bu ($3.84/bu); soybeans have averaged $9.58/bu ($9.91/bu); wheat has averaged $5.35/bu ($4.50/bu); and cotton has averaged 77.84 cents (72.74 cents). So far in December, new crop: corn is up 19 cents, soybeans are down 33 cents, wheat is up 85 cents, and cotton is up 5.1 cents. Continue reading at Tennessee Market Highlights.

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2019 Cotton Variety Guide

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The 2019 Cotton Variety Guide is now available  online. This document summarizes results from the 2018 University of Tennessee Cotton Agronomy program and serves as a precursor to a full release of trial results in PB 1742 to come within the next few weeks.  Summary tables from the 2018 season were calculated from six Official Variety Trials (OVTs) and eight County Standard Trials (CSTs) scattered throughout TN’s cotton producing counties.  To access the document click the adjacent image or the hyperlinks above or below.

 

Special thanks to all those who participated and/or contributed to the program during the 2018 growing season.

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Supply and Demand Estimates and Profitability Outlook

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Supply and Demand Estimates and Profitability Outlook

Monthly Crop Outlook 12 11 18 is a summary of the USDA’s monthly 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 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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Tennessee Market Highlights

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

For the month of November, March 2019 corn futures were up 2 cents  (opened at $3.75 ¾ and closed at $3.77 ¾) with a trading range of $3.67 ¼ to $3.90; December 2019 corn futures were up 1 ¾ cents (opened at $3.98 and closed at $3.99 ¾) with a trading range of $3.91 ¼ to $4.06 ¾; January 2019 soybean futures were up 44 ½ cents (opened at $8.50 ¼ and closed at $8.94 ¾) with a trading range of $8.45 ¾ to $9.00 ¾; November 2019 soybean futures were up 37 cents (opened at $9.02 ¼  and closed at $9.39 ¼) with a trading range of $8.98 to $9.48; March 2019 wheat futures were unchanged for the month (opened and closed at $5.15 ¾) with a trading range of $5.03 ¼ to $5.29; July 2019 wheat futures were down 6 ¼ cents (opened at $5.33 ½ and closed at $5.27 ¼) with a trading range of $5.17 to $5.47 ¾; March 2019 cotton futures were up 0.61 cents (opened at 78.3 and closed at 78.91) with a trading range of 77.18 to 82; and December 2019 cotton futures were up 0.08 cents (opened at 76.95 and closed at 77.03) with a trading range of 76.24 to 79.

Commodities were up across the board this week. Looking toward to the 2019 crop, producers may want to consider pricing some production with December corn futures currently above $4 and November soybean futures above $9.50. This early in the 2019 production season it is not advisable to get too aggressive with pricing but starting to consider price offering when futures prices are near these level is warranted. Pricing 10-20% should be considered given the large amount of trade, political, and global economic uncertainty. Continue reading at Tennessee Market Highlights.

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2018 Soybean Variety Tests in Tennessee – Prelim Report

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Our 2018 Tennessee Soybean Variety Trials report is nearly complete!   Results for yield and agronomic traits are now available – 2018 Soybean Variety Tests in Tennessee – PRELIM. Disease data will be updated early next week.  In the next week or so, these results will also be posted as mobile-friendly, searchable, sortable tables at search.utcrops.com.

Thank you for your patience this year.  We pride ourselves on getting data to you as quickly as possible, but, as most of you are aware, this has been a challenging harvest season for soybeans. Persistent rains delayed harvest for many of our variety trial locations, with the county standard tests seeing the worst of these delays. Fewer county locations are reported this year due to issues related to weather delays. In spite of the delayed harvest, yields for the majority of tests were good, averaging 54.8 bu/ac in the research center tests and 53.7 bu/ac in the county tests. Several varieties with average yields exceeding 60 bu/ac were observed.

Be sure to check back next week for updated disease data and excel tables.

 

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Commodity Market Update – 11/30/2018

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Corn: December corn futures traded $0.07 for the week. Corn futures were higher due to good export sales as indicated by the USDA. For the year, corn exports are 16% higher to date when compared to the previous year. The trade agreement between the United States, Mexico, and Canada (USMCA) was signed by all three nations’ leaders. However, the agreement will have to ratified by each nation’s legislatures. Also, the G20 trade summit will take place this weekend and the markets reflected a sense of optimism that these meetings will bode well for U.S. agriculture. Market analysts are predicting that the size of the Brazilian corn crop will be 1.1 billion bushels, which is 3.6% higher than the previous year. For producers with corn either in storage or on a deferred pricing contract, the increase in futures for the week is a sign of hope. Continue reading

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