If historical weather trends are true and our forecast holds, we are staring at one of the last opportunities to use moderate to warm temperatures to coax leaves off and open bolls. The long term forecast suggests low temperatures next week will consistently fall below 60F with a few nights forecast to touch the low 50s. Furthermore, rain is in the forecast over the weekend/through the beginning of next week.
GOOD YEAR FOR HAY PRODUCTION; CORN, SOYBEAN YIELDS PROMISING
Tennessee’s agricultural producers continue to cut hay, with each cutting showing promise of adequate supplies going into winter. Drier weather has returned to the Volunteer State, allowing farmers to catch up on corn harvest and begin soybean harvest but stressful for pasture conditions. There were 6.9 days suitable for field work. Topsoil moisture was 11 percent very short, 23 percent short, 65 percent adequate, and 1 percent surplus.
Subsoil moisture was 12 percent very short, 19 percent short, 67 percent adequate and 2 percent surplus. Hay and roughage supplies were 1 percent very short, 9 percent short, 75 percent adequate, and 15 percent surplus. Continue reading at TN_10_02_17. The U.S. Crop Progress report can be read at CropProg-10-02-2017.
Corn was up; soybeans and wheat were down; and cotton was mixed for the week.
Today the USDA released the September 1 Grain Stocks report. The report provides an estimated stocks carry-over from the 2016/17 marketing year for corn and soybeans. Overall, the Grain Stocks report was supportive for corn and soybeans and bearish for wheat prices. Continue reading at Tennessee Market Highlights.
The past two weeks have been excellent for defoliation. Clear skies, nighttime temperatures in excess of 65F degrees, and very few scattered showers have allowed many to shed green leaves and open bolls quickly. Unfortunately, the end of this week is forecast to bring much lower nighttime temperatures; several nights are expected to hit the low 50s. The good news- chances for rain over the next week are slim, daytime temperatures are still relatively warm, and only a few days are forecast to be partly cloudy. Still, as temperatures begin to drop, products and rates will need to be altered. Continue reading
Good Corn Yields Reported, Winter Wheat Planting Begins
Corn harvest was active last week, with some producers reporting corn for grain yields as good as or better than last year’s average. Isolated showers in southern Middle Tennessee delayed some harvest efforts. Producers are planning their last cuttings of hay, adding to their winter stocks. Some winter wheat has been planted. Crops and pastures were in mostly good to excellent condition. There were 6.4 days suitable for field work. Topsoil moisture was 8 percent very short, 5 percent short, 83 percent adequate, and 4 percent surplus. Subsoil moisture was 9 percent very short, 8 percent short, 78 percent adequate and 5 percent surplus. Continue reading at TN_09_25_17. The U.S. Crop Progress report can be read at CropProg-09-25-2017.
Corn and cotton were down; soybeans and wheat were up for the week.
December corn futures prices have moved sideways since the contract low on August 31 of $3.44 ¼, closing at $3.50 ¼ on Thursday. Mixed yield reports across the Corn Belt continue to provide some production uncertainty. Fur-ther complicating the supply picture are USDA’s projections of 2.335 billion bushels of domestic stocks versus an almost 1 billion bushel projected decrease (8.935 billion bushels to 7.971 billion bushels, an 11% year-over-year reduction) in global corn stocks from the 2016/17 marketing year end to the 2017/18 marketing year end. Corn prices are likely to establish (if the low hasn’t al-ready been set) a bottom this month. Continue reading at Tennessee Market Highlights.