Tennessee Market Highlights- 1/20/2023

Cotton was up; wheat and soybeans were down; and corn was mixed for the week.

Compared to the previous five years, 2021 and 2022 corn and soybean harvest futures prices experienced increased trading ranges. December 2022 corn futures, from December 1, 2021 to contract expiration, had a trading range of $2.23 ($5.43 to $7.66). November 2022 soybean futures, from November 1, 2021 to contract expiration, had a trading range of $3.81 ($12.02 to $15.81). Tight U.S. stocks, the Russia-Ukraine conflict, global inflation, supply chain disruptions, and drought in the U.S. and South America have propelled prices higher but have also increased volatility. The 2021 and 2022 December contracts had 49 and 65 trading days with moves of more than 10 cents up or down. The previous five years had a total of 54 trading days with a greater than 10-cent move. Similarly, in 2021 and 2022, the November soybean contract had 45 and 74 trading days with a greater than 20-cent up or down move. For the previous five years, the November soybean contract had a total of 64 days with a greater than 20-cent up or down move. Continue reading at Tennessee Market Highlights.

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