There have been a lot of phone calls in the past few days with folks concerned about POST applied herbicide tankmix burn on cotton and soybeans. We see burn from POST applied tankmixtures every spring but the crop response from applications over the past 10 days has been more pronounced. Continue reading
GREAT PROGRESS ON FIRST CUTTINGS OF HAY, WHEAT HARVEST
Overall, weather conditions were advantageous to both crop development and harvest, with both showing considerable progress over last week and year. Producers made pronounced progress with first cuttings of hay and wheat harvest under favorable conditions for both crops. Also on a positive note, both cattle and pastures were reported to be in mostly good to excellent condition. There were 5.4 days suitable for field work. Topsoil moisture was 1 percent very short, 9 percent short, 80 percent adequate and 10 percent surplus. Subsoil moisture was 1 percent very short, 4 percent short, 83 percent adequate and 12 percent surplus. Continue reading at TN_06_12_17. The U.S. Crop Progress report can be read at CropProg-06-12-2017.
Corn, soybeans, and wheat were up; cotton was down for the week. Today the USDA released its monthly World Agricultural Supply and Demand Estimates (WASDE) and Crop Production reports. A full summary of the reports for corn, cotton, soybeans, and wheat can be found at: http://economics.ag.utk.edu/outlook.html.
Corn: No changes were made to the domestic balance sheet this month. 2017/18 foreign stocks were decreased by 37 million bushels from the previous month. The USDA is projecting a decrease in global corn stocks of 1.192 billion bushels from the 2016/17 marketing year to the 2017/18 marketing year. Continue reading at Tennessee Market Highlights.
June 9, 2017 – USDA World Supply and Demand Estimates
Market Reaction: July 2017 corn futures closed up 2 cents at $3.87 ¾ with a trading range for the day of $3.80 ¾ to $3.89 ½. December 2017 corn futures closed up 2 ¼ cents at $4.06 with a trading range for the day of $3.98 ½ to $4.07. USDA is currently projecting global corn ending stocks to contract over 1 billion bushels from 2016/17 to 2017/18. This is positive to long term price prospects; however US growing conditions and production will be important if this reduction is to materialize. Continue reading at June 9, 2017 USDA World Supply & Demand Estimates.
WET CONDITIONS SLOW FIELD WORK
Hit-and-miss showers and thunderstorms kept some farmers from their fields this past week. Those farmers who were able to get into their fields made good progress wrapping up corn and cotton planting and getting soybeans planted. The winter wheat crop was heading toward harvest. Some producers were able to cut hay between rains. Livestock producers reported pastures were in mostly good shape. There were 4.5 days suitable for field work. Topsoil moisture was 4 percent short, 75 percent adequate and 21 percent surplus. Subsoil moisture was 1 percent very short, 3 percent short, 77 percent adequate and 19 percent surplus. Continue reading at TN_06_05_17. The U.S. Crop Progress report can be read at CropProg-06-05-2017.