Corn, soybeans, and wheat were up; cotton was down for the week.

Corn and soybean planting progress has outpaced last year and the five-year average while
cotton is slightly behind. Getting the crop planted in a timely manner is beneficial but it does not necessarily translate into above average yields. Weather from June-August will dictate if the U.S. achieves above or below trend line yield. Currently, the USDA projects weather adjusted trendline yield at 181.5 bu/acre for corn, 52 bu/acre for soybeans, and 854 lbs/acre for cotton. Moving forward, weather will determine price direction. As such, for those with limited 2023 production priced, rallies should be viewed as opportunities to establish a price or price floor on some production. Continue reading at Tennessee Market Highlights.