As reported by NASS on September 10, 2012
TOPSOIL MOISTURE SUPPLIES GREATLY IMPROVED
Plentiful rain fell across the state last week benefitting crops and boosting soil moisture supplies. The condition of cotton, soybeans, and tobacco crops improved and were rated in mostly good condition. Corn harvest continued at a rapid pace two weeks ahead of normal. Continue reading
Wheat prices are up; corn about even with cotton and soybean prices down for the week. The September U.S. Dollar Index before the close was 80.24 down 0.98 for the week. The Dow Jones Industrial Average before the close was 13,286 up 195 points since last Friday. Crude Oil before the close was 96.34 a barrel, down 0.23 a barrel for the week. A weak jobs report has led to some speculation that the Fed may come in with another round of some form of a stimulus program to bolster the economy. The unemployment rate was reduced from 8.3% to 8.1% as the labor force participation rate fell to 63.5%, the lowest in over 30 years. Continue reading
As reported by NASS on September 4, 2012
HURRICANE REMNANTS BOOST SOIL MOISTURE SUPPLIES
The remnants of Hurricane Isaac dropped significant rainfall in many areas last week which boosted soil moisture supplies. The effects of this rainfall are likely to improve soil moisture ratings as well as cotton, soybean and pasture conditions in these areas. At week’s end it was too early to fully measure the impact. Crops remained in mostly fair-to-good condition. Continue reading
Cotton, soybean and wheat prices are up while corn prices are mixed for the week. The September U.S. Dollar Index before the close was 81.24 down 0.36 for the week. A weaker Dollar is generally supportive for commodity prices. The Dow Jones Industrial Average before the close was 13,102 up 102 points today but down 56 points since last Friday. Crude Oil before the close was 96.55 a barrel, up 0.45 a barrel for the week. Comments today from Fed Chairman Ben Bernanke while not unleashing an additional stimulus program did not rule out that one might be needed in the future. Continue reading
As reported by NASS on August 27, 2012
SOYBEANS AND COTTON COULD USE A RAIN. The weather is turning seasonally dry as some concerns are being expressed in major cotton and soybean areas about proper development. However, at week’s end, topsoil moisture supplies were rated 57 percent adequate or surplus, a level much better than the 29 percent five year average and last year’s 44 percent. A good general rain throughout the state is needed to maintain or improve the cotton and soybean crops from their current standing of fair-to-good condition. The corn for grain harvest picked-up momentum and was proceeding at a pace just shy of two weeks ahead of normal. Pastures look good, but armyworms are reported to be a problem. Continue reading
Corn, cotton and soybean prices are up with wheat prices down for the week. The September U.S. Dollar Index before the close was 81.51 down 1.15 for the week. The Dow Jones Industrial Average before the close was 13,145 down 130 points since last Friday. Crude Oil before the close was 96.22 a barrel, down 0.31 a barrel for the week. Results from the much watched Pro Farmer Crop Tour this week were released Friday afternoon with the national corn average yield pegged at 120.25 bushels per acre in a range of 119.05 to 121.45 bushels per acre. USDA in the August 10 report projected corn yields at 123.4 bushels per acre. Soybean yields were estimated at 34.8 bushels per acre nationwide in a range of 34.1 to 35.5 bushels per acre. Continue reading
As reported by NASS on August 20, 2012
CORN, HAY, AND TOBACCO HARVEST MAIN FARM ACTIVITIES
Farmers continued harvesting hay and topping tobacco last week between showers and stepped-up their efforts at corn harvest. Activities in the tobacco fields were delayed slightly by rainfall. The crops, except corn, continued to be rated in fair to good condition. The cotton crop is opening and early planted soybeans are beginning to shed leaves. The corn crop is maturing rapidly. Pastures look good for this time of the year but with some reports of weeds. Continue reading
Cotton and soybean prices are up; corn and wheat prices are down for the week. The September U.S. Dollar Index before the close was 82.69 up 0.06 for the week. The Dow Jones Industrial Average before the close was 13,265, up 58 points since last Friday. Crude Oil before the close was 96.10 a barrel, up 2.78 a barrel for the week. Farm Service Agency certified acres were released this week and by my preliminary review compared to the USDA June 30 report were 1.4 million acres higher for corn; 821,000 acres less for cotton; 1 million acres less for soybeans; and 3.7 million acres less for wheat. Continue reading