Corn, soybeans, cotton, and wheat were up for the week. December corn is now trading above $4.00 for the first time since April 23rd; November soybeans rallied over 45 cents this week to close at $9.86, its highest level since March 2nd; July wheat traded above $5.60 for the first time since early January; and December cotton breached its 13 week high of 66.99 cents, closing at 67.16. Weather provided the primary fuel for the futures market rallies in corn, soybeans, and wheat. Continue reading at Tennessee Market Highlights.
Soybeans were up; cotton and wheat were down; and corn was mixed for the week. November soybean futures closed the week up 35 cents from last Friday, closing at $9.39. The rally was partially driven by concerns over wet conditions on the western edge of the Corn Belt. Soybean planting progress in Kansas and Missouri were estimated at 57% and 42%, well behind their 5- year average paces of 85% and 79%, respectively. At this point there is still time to get the remaining crop planted/replanted in these two states however drier conditions in the next two weeks will be required. Continue reading at Tennessee Market Highlights.
Corn and wheat were down; cotton and soybeans were mixed for the week. The June WASDE, released on Wednesday provided additional bearish news for corn and wheat, moderate support for soybeans, and was neutral for cotton. Domestic and foreign corn ending stocks were increased 25 million and 103 million bushels, respectively. Greater estimated beginning stocks for 2015/16 resulted in the increase in domestic stocks, while greater estimated production from Brazil led foreign stocks upward. Continue reading at Tennessee Market Highlights.
June 10, 2015 – USDA World Supply and Demand Estimates
Corn The outlook for 2015/16 U.S. feed grain supplies is raised slightly this month with increases in corn and oats beginning stocks outweighing a decline for barley. Projected corn production for 2015/16 is unchanged at 13,630 million bushels, 4 percent below last year’s record level. Continue reading at Monthly Crop Outlook and Profitability Update.
Corn, soybeans, and wheat were up; cotton was mixed for the week. Decem-ber corn futures came close to contract lows getting as low as $3.65 at the beginning of the week before rallying to a high of $3.84 ½ on Friday (closing at $3.78). Harvest soybean futures set a new contract low Monday at $8.96 ¾ before rebounding to a high of $9.27 on Friday (closing at $9.14). Unless ad-verse weather conditions materialize in larger production regions it is likely that this rally will be short lived as the majority of the Corn Belt has had above average growing conditions year-to-date. Continue reading at Tennessee Market Highlights.
Corn and wheat were down; cotton was up; and soybeans were mixed for the week. September corn and November soybeans established new contract lows this week. For the month of May: September corn decreased 15 ½ cents ($3.72 ¾ to $3.57 ¼); November soybeans decreased 46 ¾ cents ($9.52 ½ to $9.05 ¾); July wheat increased 1 cent ($4.76 to $4.77); and December cotton decreased 2 cents (66.64 to 64.64 cents). Corn and soybeans moved lower this month due to larger estimated global and domestic ending stocks, excellent planting and growing conditions year-to-date, a stronger US dollar, and a record South American harvest. Continue reading at Tennessee Market Highlights.
Corn, soybeans, and cotton were down; wheat was up for the week. September corn futures have stayed above the contract low established back on October 1, 2014 of $3.54 ¾. Nationally, planting and growing conditions have been excellent year-to-date, so corn futures being able to hold this key level of support is a positive. That being said, if above average growing conditions persist and acreage is affirmed at or above current USDA estimates this threshold could be breached. Continue reading at Tennessee Market Highlights.
Corn, cotton, and wheat were up; soybeans were down for the week. On Tuesday May 12th the USDA released the May WASDE report. The report contained initial supply and demand estimates for the 2015/2016 marketing year. So how do estimates for the 2015/16 marketing year compare to the 2104/15 marketing year? Continue reading at Tennessee Market Highlights.