Corn and wheat were up; cotton was mixed; and soybeans were down for the week. December corn opened April at $3.89 ¾ and closed at $3.85, down 4 ¾ cents for the month. The trading range for April was $3.79 ¼ to $3.95 ¾. In March, the December contract decreased 4 ¾ cents. Corn has traded mostly between $3.75 and $4.00 for the past 7 months.

November soybeans opened April at $9.54 ¾ and closed at $9.53 ¼, down 1 ½ cents for the month. The trading range for April was $9.41 ½ to $9.68 ½. This was after the major price declines in March when the November contract decreased 64 ¼ cents.

December cotton opened April at 74.05 and closed at 74.62, up 0.57 cents for the month. The trading range for April was 72.19 to 75.16 cents. Harvest cotton futures are now at a 5 cent discount compared to the nearby contract. July wheat opened April at $4.42 ¼ and closed at $4.32 ¼, down 10 cents for the month. The trading range for April was $4.49 ½ to $4.16.

Weather will be the dominant influence in markets as we move through the planting and early growing periods. Producers should remain patient and look for marketing opportunities to increase pricing. For example, in each of the past two years the December contract has had short lived rallies above $4.25/bu (July 2015 and June 2016). These marketing opportunities have been brief but it is reasonable to expect we will see a rally during this production season, so producers need to remain vigilant for opportunities to secure profitable prices. Continue reading at Tennessee Market Highlights.