Corn: The latest WASDE report was released this week along with the Crop Production report. The USDA has decreased the national corn yield by 1 bushel per acre from 174.4 to 173.4. If the final yield does equate to this value, then this will be the largest corn crop on record. Despite the expectations of a very large corn crop, December corn futures have increased by $0.15 since the market’s open on Monday. In fact, corn closed at a three-month high, which is uncommon, especially during harvest. Local corn basis has continued to remain stable over the past week.
As people start considering planting wheat, there are a few things to keep in mind that will save you some unnecessary insect problems. Below are a few bullet points for your consideration. Continue reading
The Plant Management Network has released another online presentation in their “Focus on Cotton” series. This new 10 minute video offers suggestions on the steps that growers, pesticide applicators, and beekeepers can take to reduce any negative effects of pesticide applications on honey bees and other pollinators. Link below to watch this presentation narrated by yours truly.
Corn: Since the market’s open on Monday, December corn futures have increased by $0.18. Corn prices have rallied on the expectation that the USDA will be forced to cut back their national yield projections. USDA is scheduled to release their monthly report and the trade is anticipating that report will include news of a lower corn production forecast. USDA currently has the corn harvest at 15.15 billion bushels. However, Reuters took a survey of analysts that indicated that the average trade estimate for the corn crop is 15.027 billion bushels. Corn harvest is underway in Kentucky, Tennessee, and parts of Illinois. Continue reading
Corn: Corn futures have traded $0.29 lower since the market’s open on Monday morning. Farm Journal has just released the results of the Pro Farmer 2016 Crop Tour. Their estimated national yield for corn is 170.2 bushels per acres. That is less than the USDA August 12th estimate of a national yield of 175.1 bushels per acre. Illinois was projected to have an average yield of 194 bushels per acre for the corn crop planted there. Currently, the USDA estimates the average yield for Illinois to be 200 bushels per acre. Continue reading
Corn: Corn futures have traded $0.13 higher since the market’s open on Monday morning. Corn futures have closed higher for six days straight. The USDA report from last week left room for the market to become more bearish with a projected national yield of 175.1 bushels per acre. However, after sifting through the report, it appeared that the trade was already trading the expectations of a high national yield. Some analysts are beginning to question the methods that USDA used to come up with their yield figures. Many are pointing to the fact that the estimate is based on a record ear size that excludes a kernel count.
The final report of the Tennessee Wheat Variety Performance Tests is now available. Link to the 2016-Wheat-Variety-Report.
You can also visit UTcrops.com at http://utcrops.com/wheat/wheat_pdf/2016-Wheat-Variety-Report.pdf to access this report.
Corn: So far this week, September corn futures have traded lower by $0.11. Corn futures have traded lower for the past 15 trading days. Weather forecasts for the Midwest are indicating higher temperatures with adequate rain. The rainfall could offset any potential damage caused by the increase in temperatures. Private estimates of the national corn yield are ranging between 169 to 175 bushels per acre. Continue reading