Corn, soybeans, cotton, and wheat were down for the week. This week, December corn and November soybean futures continued price declines that started after last week’s highs as weather remained favorable in most major production areas. Currently, the markets are approaching key resistance lev-els in December corn and November soybean futures at $4.00 and $9.60, respectively. Failure to hold prices above these thresholds could facilitate an additional futures price decline. Continue reading at Tennessee Market Highlights.
Corn was up; soybeans, cotton, and wheat were down for the week. Year-todate, the 2015 Tennessee soybean and corn crop has experienced many challenges. Wet conditions persisted in many counties during the planting season. As a result, several acres have not been planted, have been flooded, or have experienced production problems (timely chemical application to control weeds, loss of nitrogen etc.). That being said, at this point in the production year, compared to other regions of the country, we are in a better situation than most. Continue reading at Tennessee Market Highlights.
Corn Projected 2015/16 U.S. feed grain supplies are lowered this month with reductions in corn beginning stocks and production. Corn beginning stocks for 2015/16 are down 97 million bushels as increases in 2014/15 feed and residual use, use in ethanol production, and exports more than offset a small increase in imports. Corn production for 2015/16 is projected down 100 million bushels reflecting the lower planted and harvested areas from the June 30 Acreage. Continue reading at Comments on the July 10, 2015 WASDE report.
Corn, soybeans, and wheat were up; cotton was mixed for the week. In the past three weeks, December corn futures have rallied nearly 70 cents and are currently higher than last year at $4.37. During the same time, November soybean futures are up $1.30 closing on Thursday at $10.30. Continue reading at Tennessee Market Highlights.
On Tuesday June 30th the USDA surprised the market releasing decidedly bullish estimates for corn, soybeans, cotton, and wheat. The Acreage report provided the primary catalyst for corn and cotton price increases. The Quarterly Stocks report keyed the increase in soybean futures. Weather remains on everyone’s mind as excessive rain in many areas has: delayed wheat harvest; prevented corn, soybean, and cotton plantings; and adversely affected crop conditions. As we move forward, weather will be the primary market driver. The question to be determined is which direction will the market (and weather) go from here? Continue reading at USDA Acreage & Quarterly Grain Stocks Report. This includes an Profitability Outlook update.
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.