Corn and soybeans were down; cotton and wheat were mixed for the week.

The major news this week was USDA’s updated yield estimates. Nationally, corn, soybean, and upland cotton yields were estimated at 181.3 bu/acre, 52.8 bu/acre, and 881 lb/acre. Corn and soybean estimates were revised up 2.9 bu/acre and 1.2 bu acre from last month – if realized both would be all-time records. Upland cotton yield was decreased 14 lb/ acre from last month.

The larger than anticipated, corn and soybean yields contributed to December corn and November soybeans setting new contract lows of $3.48/bu and $8.21/bu. With the large crop headed towards market and no foreseeable end to trade disruptions a further leg down in futures prices cannot be ruled out at this time. Continue reading at Tennessee Market Highlights. Comment on the September 12th USDA WASDE report and a Profitability Update looking to 2019 can be found at Monthly Crop Comments.