Category Archives: Farm Management

Tennessee Market Highlights – 08/18/2023

Author:  Comments Off on Tennessee Market Highlights – 08/18/2023

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

This week the December corn contract established a new low at $4.73 ½, before closing up the last three trading days of the week. US yield estimates remain a hot topic of debate between market analysts, as rains at the end of July through August have improved crop conditions across a large portion of the growing area. As of August 15th, corn production in drought is estimated at 42%, with 5% in extreme drought, 15% in severe drought, and 22% in moderate drought. Currently, the USDA estimates the national average corn yield at 175.1 bu acre. Most analysts have a national yield closer to 177 bu/acre. Based on USDA’s current harvested acre projection of 86.322 million acres, a 1.9 bu/acre increase in national average yield would increase US production by 164 million bushels. Continue reading at Tennessee Market Highlights.

Print Friendly, PDF & Email

Tennessee Market Highlights – 08/11/2023

Author:  Comments Off on Tennessee Market Highlights – 08/11/2023

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

On Friday, August 11, the USDA released FSA Crop Acreage Data and Crop Production and WASDE reports. Overall, the reports were neutral to bearish for corn, soybean, and wheat prices and bullish for cotton prices. Continue reading at Tennessee Market Highlights.

Print Friendly, PDF & Email

Base Acres Should Be Addressed Before Reference Prices

Author:  Comments Off on Base Acres Should Be Addressed Before Reference Prices

The most common refrain from crop producers and agricultural stakeholders during the current Farm Bill listening sessions is the need to increase reference prices to reflect changes in input costs for row crops over the past five years. Although an important factor in Farm Bill negotiations, Dr. Aaron Smith discusses the need to address base acres before reference price changes.

Base Acres Should Be Addressed Before Reference Prices

Print Friendly, PDF & Email

Tennessee Market Highlights – 07/28/2023

Author:  Comments Off on Tennessee Market Highlights – 07/28/2023

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

Drought remains at the forefront of US corn and soybean markets. As of July 25, 59% of the US corn crop was estimated to be in drought (1% exceptional drought, 7% extreme drought, 14% severe drought, and 36% moderate drought) and 53% of the soybean crop was in drought (1% exceptional drought, 7% extreme drought, 13% severe drought, and 33% moderate drought). With limited precipitation (less than 1 inch in most locations) in the seven-day NOAA forecast and high temperatures, further crop stress is likely to occur. The weather uncertainty and sporadic rainfall has contributed to price volatility. Over, the past ten trading days, December corn has closed the day: -7 ¾, +28 ½, +18 ½, -6 ¾, -10, +32, -3, -17, -6, and -12 cents. The net move over the ten-day period was +11 cents but the daily price volatility has the perception of a larger overall move. Continue reading at Tennessee Market Highlights.

Print Friendly, PDF & Email

Tennessee Market Highlights- 07/21/2023

Author:  Comments Off on Tennessee Market Highlights- 07/21/2023

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

Many factors are influencing commodity prices. Recently, movements in corn, soybeans, wheat, and cotton prices have been driven by the Russia/Ukraine conflict, US acreage estimates, and weather concerns across a large portion of the Corn Belt, and this is likely to remain the principal focus of markets into August. As of July 18, 2023, the percentage of soybeans in Moderate Drought (D1), Severe Drought (D2), Extreme Drought (D3), and Exceptional Drought (D4) was 1%, 6%, 13%, and 30% (USDA-Ag in Drought). Continue reading at Tennessee Market Highlights.

Print Friendly, PDF & Email

Tennessee Market Highlights -06/23/2023

Author:  Comments Off on Tennessee Market Highlights -06/23/2023

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

Weather provided wild swings in commodity markets this week. December corn had daily movements of unchanged, +31 ¼, -8, and -32 ¾ cents; November soybeans moved +½, +34 ¼, – 37 ½, and -29 ½ cents; July wheat moved +7 ¾, +38 ¾, +4 ½, and -5 ¾ cents; and December cotton moved +0.60, -0.18, -0.37, and -1.48 cents. Precipitation forecasts continue to be the dominant factor in markets with changes met with large price swings. The volatility in markets can be unnerving for even the most seasoned commodity marketer. Continue reading at Tennessee Market Highlights.

Print Friendly, PDF & Email

Tennessee Market Highlights – 06/16/2023

Author:  Comments Off on Tennessee Market Highlights – 06/16/2023

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

Dry conditions pushed corn and soybean futures higher this week. December corn closed the week up $0.67/bu at $5.97 ½ per bushel and November soybean futures closed up $1.38/bu at $13.42 ¼ per bushel. December corn futures are up 106 ¾ cents since the May 18 low of $4.90 ¾. November soybean futures have closed up seven consecutive trading days with gains of 10 ½, 15 ¼, 4 ¾, 30 ½, ½, 52 ¼, and 50 cents from June 8 to June 16. Dryer forecasts will continue to propel corn and soybean prices higher. Continue reading at Tennessee Market Highlights.

Print Friendly, PDF & Email

Tennessee Market Highlights – 06/09/23

Author:  Comments Off on Tennessee Market Highlights – 06/09/23

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

Dryness has crept into Tennessee. As of June 8th, the U.S. drought monitor indicated that 49% of Tennessee was abnormally dry and 9% was in moderate drought. However, the NOAA precipitation forecast for June 10 to June 17 projects 2 to 5 inches of rain in the next seven days for most of Tennessee. Additionally, rain in the seven-day forecast is projected for a large portion of the Corn Belt, with greater quantities in the southern portions. If realized, the rains should help alleviate the abnormally dry or moderate drought conditions, that currently cover a large portion of the primary US corn and soybean producing regions. Continue reading at Tennessee Market Highlights.

Print Friendly, PDF & Email