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

After last week’s dramatic decline, from $5.94 to $4.94 ¾, December corn futures moved mostly sideways trading between $4.85 ½ and $5.09 ½. The dramatic increase in corn planted acreage (94 million acres planted nationally) limits the upside in corn markets and opens the potential for further declines. National average yield and the potential for weather induced acreage losses will provide the direction. The US drought monitor continues to indicate drought concerns in a large portion of the Corn Belt, however recent rain events have partially mitigated the impact on crops and the 5–7-day precipitation forecast has 1 to 5 inches of projected rainfall over a large area. If widespread rainfall is realized markets could easily move 25 to 50 cents lower. Continue reading at Tennessee Market Highlights.