Soybeans were up; corn, cotton, and wheat down for the week.
Should producers start managing price risk for the 2023 crop? Yes. On September 16, December 2023 corn futures were $6.20/bu and November 2023 soybean futures were $13.66/bu. Some producers will be looking to hedge new crop production (and this would be a prudent risk management decision for many), however given volatility and the potential for increased margin requirements a more cost-effective strategy may be bridging the price risk gap until crop insurance prices are determined in March. Continue reading at Tennessee Market Highlights.