Corn: For the week, December corn futures have traded sideways within a $0.08 price range. Farmer selling is reportedly slow this week and is partially evidenced by the increase in local basis. Corn harvest is continuing to progress at a steady pace. As of November 12, 83% of the national corn crop was harvested. In Tennessee, the USDA reported that 99% of all corn has been harvested. Continue reading
Corn: For the week, December corn futures have traded mostly sideways. Corn futures increased slightly yesterday following the USDA World Agricultural Supply and Demand Estimate (WASDE). The USDA raised the national corn yield to 171.8 BPA, up from 169.9 BPA September estimate. The increase is mostly attributed to abundant rainfall nationwide along with milder temperatures. Although ending stocks are projected to increase, the bullish news from the soybean market has spilled over into the corn market, pulling corn futures higher. Continue reading
Corn: Over the last 30 days, December corn futures have decreased by $0.07. The decrease can be attributed to harvest pressure. Locally, corn yields have been phenomenal. Yields have ranged between 170 to 230 bushels per acre on dry land acres. It may indeed be a record year for corn yields in Tennessee. On a national scale, only 17% of the crop had been harvested as of Monday. The USDA reported that the corn crop is in good shape. Continue reading
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.
The Mid-South’s cotton crop is rapidly maturing and many of our acres will receive a harvest aid application soon after Hurricane Irma moves through the area. There are many factors to consider in determining timing, products and rates. In an effort to outline these decisions and provide harvest aid recommendations for the Mid-South, the 2017 Mid-South Cotton Defoliation Guide has just been updated by the MidSouth Cotton Specialists’ Working Group and is now available online. To access the guide, click the image above or the included link. Please keep in mind that this was compiled as a regional guide and should be used in conjunction with your previous experiences.
Corn: September corn futures closed $0.11 lower for the week. The decline in futures can be attributed to high global stocks and the USDA’s projected yield of 169.5 bushels per acre. If the projected yield is realized, then we will only add to the large supply that we currently have. Over the next few weeks, we will begin to see harvest pressure surface as combines begin to enter the fields. Locally, we have begun to see farmers shell some of their earlier planted corn. Moisture is averaging 18% in Northwest Tennessee with farmers being pleased with yields so far. Some producers are even reporting yields as high as 190 bushels on dry land corn. Continue reading
Heat unit accumulation has been the big question over the past week. Mild temperatures settled over Tennessee during early August and there is some concern that the crop may not be maturing as quickly as noted in years past. While I agree the weather has been quite comfortable, we are currently very close to the 30 year average heat unit accumulation trend noted from 1980-2010.
Corn: September corn futures have traded $0.08 lower so far this week. The decline in corn futures can be attributed to a lack of a weather scare for the Midwest. Key growing states like Iowa and Illinois continue to receive extended weather forecasts with normal temperatures and normal precipitation. The USDA released the latest crop progress report on Monday. This report indicated that 97% of the corn crop is silking while 61% of the crop has reached the dough stage. The USDA rated 62% of the corn crop as being good-to-excellent, which is a 2% increase from last week’s report. Continue reading