Tennessee Market Highlights

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Corn and wheat were up; cotton and soybeans were down for the week. Estimated domestic corn yields were dropped 0.8 bpa to 173.4 bpa in the latest USDA-WASDE report surprising many analysts, as most thought that the USDA would increase corn yields. At this point, minor revisions to corn yield will not substantially change the estimated 2 billion bushel carryover into the next marketing year. As such, there is limited upside in corn futures prices for this marketing year, until new information is revealed. Continue reading at Tennessee Market Highlights.