Corn, cotton, and wheat were up; soybeans were mixed for the week. De-cember 2015 corn futures set a new 150 day low on Wednesday before re-bounding on Thursday and Friday to close up for the week. November soy-bean futures establish new 150 day lows this week at $9.39 per bushel. Soy-bean futures remain somewhat of a quagmire. Strong export and domestic demand provide bullish news, while large domestic and global ending stocks for the 2014/15 marketing year and the potential for increased planted acreage in 2015 fuel the bears. Continue reading at Tennessee Market Highlights.
Please note that crop comments will be posted online Monday, March 16th at http://economics.ag.utk.edu/cropcomm.html.
FED CATTLE: Fed cattle traded steady on a live basis compared to a week ago based on limited numbers. Live prices were primarily $160 to $161 while dressed trade was mainly $259 to $260. The 5-area weighted average prices thru Thursday were $160.78 live, up $2.91 from last week and $259.09 dressed, up $9.09 from a week ago. A year ago prices were $147.92 live and $239.80 dressed. Continue reading at Tennessee Market Highlights.
Corn U.S. feed grain ending stocks for 2014/15 are projected lower with reductions for corn and barley. Corn use in ethanol production is projected 50 million bushels lower based on the new Grain Crushings and Co-Products Production report recently released by the National Agricultural Statistics Service (NASS). Reported corn use for ethanol for October through January implies a higher conversion rate than previously assumed. Continue reading comments on the march 10th USDA reports and an Profitability Update at Monthly Crop Outlook.
Corn, cotton, soybeans, and wheat were down for the week. Nearby corn continues to trade between $3.80/bu and $4.00/bu. This week soybeans reversed trend and are now poised to test market lows established in late January. May cotton futures dropped 3.5 cents from last week’s high of over 66 cents/lb. Wheat continues to fall as lack of price competitiveness on the global market continues to hurt exports. Since highs in late December wheat futures are down nearly $2.00/bu. Continue reading at Tennessee Market Highlights.
Corn and wheat were down; cotton and soybeans were up for the week. On Thursday and Friday the USDA hosted their 91st annual Agricultural Outlook Forum in Arlington, Virginia. The conference provided preliminary estimates for the 2015/16 marketing year. Domestic planted acreage for wheat, corn, and soybeans was estimated to decrease 3.1 million acres to 228 million. Planted acreage for wheat was estimated to decrease from 56.8 million to 55.5 million. Continue reading at Tennessee Market Highlights.
Corn, soybeans, cotton, and wheat were up for the week. On Tuesday February 10th, the USDA released its monthly World Agricultural Supply and Demand Estimates (WASDE) report. As expected, the report did not contain any major revisions and overall was not a major market mover. Continue reading at Tennessee Market Highlights.
U.S. feed grain ending stocks for 2014/15 are projected lower with reductions for corn, sorghum, and barley. Corn accounts for most of the reduction with projected use in ethanol production raised 75 million bushels on higher forecast 2015 gasoline consumption by the Energy Information Administration. Continue reading at USDA S & D Report Comments and Profitability Update.
Corn, soybeans, cotton, and wheat were up for the week. As we move through February and March, producers and landowners will be faced with several important decisions. First, landowners have a onetime decision whether to reallocate base acres and update program yields on their FSA farms by February 27, 2015. Continue reading at Tennessee Market Highlights.