Corn, soybeans, cotton, and wheat were down for the week.
Grain and oilseed market’s turned bearish this week, due in part to the USDA’s July 12 WASDE report (details of the report for corn, soybeans, cotton, and wheat can be found online at: https://ag.tennessee.edu/arec/Pages/MonthlyCropComments.aspx). The report projected 2017/18 marketing year domestic ending stocks of: corn at 2.325 billion bushels (up 215 million bushels from last month); cotton at 5.3 million bales (down 0.2 million bales from last month); soybeans at 460 million bushels (down 35 million bushels from last month); and wheat at 938 million bushels up 14 million bushels from last month). Foreign stocks (and change from the previous marketing year) were projected at: 5.58 billion bushels of corn (down 1.007 billion bushels); 83.43 million bales of cotton (down 3.64 million bales); 2.976 billion bushels of soybeans (down 96 million bush-els); and 8.637 billion bushels of wheat (up 340 million bushels). Overall, the WASDE report showed large domestic and foreign reserves for all four commodities. Continue reading at Tennessee Market Highlights.