As reported by NASS on July 23, 2012
WARM WEATHER AND MODERATE RAINS AID GROWTH. High temperatures and moderate rains stimulated crop growth last week. Crops continued to develop at a faster rate than usual. All crops remained in fair-to-good condition, with the exception of corn. Pastures were rated in poor-to-fair condition, but have improved Continue reading
Prices and comments are through Thursday, July 19, 2012. Corn, soybean, and wheat prices are an up while cotton is slightly down for the week through Thursday. Prices today reached record levels in corn and soybeans. The September U.S. Dollar Index closed at 82.98, down 0.49 for the week. The Dow Jones Industrial Average closed at 12,943, up 166 points since last Friday. Crude Oil closed at 92.66 a barrel, up 5.56 a barrel for the week. It should be noted that the September 2013 corn, November 2013 soybeans, and July 2013 wheat are all down for the week. Continue reading
As reported by NASS on July 16, 2012
DROUGHT NOT OVER BUT WIDESPREAD, PLENTIFUL PRECIPATATION RECEIVED! Soaking rainfall and lower temperatures characterized the conditions which greeted farmers last week. The drought is not broken as some areas of the state experienced only light-to-moderate precipitation. Overall, state crop condition ratings improved, especially for soybeans. However, the corn condition rating, although improved, continued to point to a season with over half the acreage in a heavy or extreme loss of yield situation. Some renewed optimism now exists for soybeans, cotton and tobacco which are rated in mostly fair or good condition. Continue reading
Corn, cotton, soybean, and wheat prices are all up for the week. The September U.S. Dollar Index traded before the close at 83.47, down 0.09 for the week. The Dow Jones Industrial Average at mid-day traded at 12,745, up 171 points today but down 27 points since last Friday. Crude Oil traded at 87.30 a barrel mid-day, up 2.85 a barrel for the week. USDA released their supply & demand report on July 11 and made several adjustments to the monthly numbers. Continue reading
This table should be used as a guide as yields, prices, and expenses will vary among producers and locations. This table looks at crop prices as of July 11, 2012 for 2012 and can give a glimpse of what crop profitability is in Tennessee as of this date. Adjustments downward have been made to yields and I would expect quite a bit of variation among producers in Tennessee. These adjustments represent a guess and are not based on surveys. Those will come in August. Continue reading
Corn
Corn market trading has been volatile as September futures have traded in a 64 cent range from top to bottom today as the market soared higher on the release of the monthly USDA data but then closed lower. Continue reading
The Mid-South Agricultural Finance Conference is set for August 1 at the UT Martin Boling University Center in Martin, Tennessee. Registration begins at 8:00 a.m. with the program to kick off shortly thereafter. This informative program will wrap up at 3:00 p.m. with door prizes and does include break refreshments and lunch. Registration is $75 for farmers and producers and $150 for lenders and ag service providers. A special session on Strategic Planning for Farm Operations will be July 31 at 5:30 p.m. Continue reading
As reported by NASS on July 9, 2012
SCATTERED SHOWERS PROVIDE A LITTLE RELIEF. A slight break from record setting temperatures came at weeks’ end and was due to several rounds of scattered showers and thunderstorms. Soil moisture levels are still extremely short and more rain will be needed for crops and pastures to rebound from the prolonged drought conditions. Crop conditions continued to decline last week. Pastures have been the hardest hit by the high temps and short moisture supplies with three quarters of the acreage rated in very poor-to-poor condition. Continue reading