Corn, soybeans, and cotton were up; wheat was down for the week.
2022 brings drastically different prices than one year ago for many row crops. At the start of
January, December corn closed at $5.47 ½, up 26% compared to last year; November soybeans closed at $12.83 ¾, up 14.5% compared to last year; December cotton closed at 92.95, up 23.3% compared to last year; and July wheat closed at $7.55, up 20% compared to last year. High commodity prices are positive for farmers; however, input prices and availability continue to challenge producers planning the 2022 crop. Fertilizer prices are double or triple last year’s prices and availability of crop protection products are providing planning issues and creating headaches for producers and ag retailers alike. Even if high prices hold, producer profitability is projected to be lower than 2021. Continue reading at Tennessee Market Highlights.