All posts by Chuck Danehower, Extension Area Specialist - Farm Management

18 Jun 2012

Crop Progress

18 Jun 2012
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As reported by NASS on June 18, 2012

RAIN PROVIDED RELIEF IN SOME AREAS; CONTINUED DRY IN OTHERS

The weather pattern of scattered showers continued last week leaving 46 percent of Tennessee farmland short of soil moisture at week’s end. Crops continued to hold in mostly good condition. Forty-seven percent of the corn crop is in the critical pollination stage. Wheat harvest, soybean planting and tobacco transplanting are now about finished. Full-season soybeans are beginning to bloom and almost a third of the cotton crop is entering the squaring stage of development. As the hot Continue reading →


15 Jun 2012

Weekly Crop Marketing Comments

15 Jun 2012
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Cotton prices are up while corn, soybean, and wheat prices are down for the week. The June U.S. Dollar Index before the close was at 81.59, down 0.97 for the week. The Dow Jones Industrial Average traded before the close at 12,759, up 205 points since last Friday. Crude Oil before the close traded at 83.99 a barrel, down 0.35 a barrel for the week. Although USDA released their monthly report June 12, most of this week’s market focus has been on weather forecasts, the European financial situation and whether the Federal Reserve will take action in the coming week or weeks to stimulate the economy. Continue reading →


12 Jun 2012

Comments on the July 12 USDA Supply & Demand Report

12 Jun 2012
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Corn

This is somewhat an historic day in the annuls of USDA reports and the futures market as today marked the first day that the markets were trading as the USDA Supply & Demand reports were released. Trading opened up at the CME Group at 7:20 a.m. in anticipation of the 7:30 a.m. report release. There were not a lot of surprises in today’s report, so this probably was a good day for it to start. Continue reading →


11 Jun 2012

Crop Progress

11 Jun 2012
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As reported by NASS on June 11, 2012

WHEAT HARVEST GOING STRONG; PLANTERS CHASING COMBINES

Wheat harvest is going strong with many farmers reporting excellent yields, except for some spotty areas that were hurt by the late April frost. Taking advantage of moisture received early in the week, planters have been chasing combines to plant double crop soybeans. Corn has entered a critical growth stage as it begins to silk and tassel, but more moisture is needed in some areas for proper development. Vegetable crops were reported as starting to show signs of stress from dry conditions. Many crops continue to be rated in mostly good condition after temporary relief was provided by rain showers across most of the state. Continue reading →


08 Jun 2012

Weekly Crop Marketing Comments

08 Jun 2012
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Corn, cotton, soybean, and wheat prices are all up for the week. The June U.S. Dollar Index before the close was at 82.58, down 0.40 for the week but up 0.46 for the day. The Dow Jones Industrial Average traded before the close at 12,526, up 407 points since last Friday. Crude Oil before the close traded at 84.39 a barrel, up 1.15 a barrel for the week. Contributing to the markets rally this week has been weather concerns in the Midwest, mixed financial news from Europe, interest rate drop in China , and most likely positioning ahead of the June 12 USDA Supply & Demand report. The CME Group announced that starting June 25 they will extend the close of open outcry or pit trading to 2 p.m. to coincide with electronic trading. Continue reading →


04 Jun 2012

Crop Progress

04 Jun 2012
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As reported by NASS on June 4, 2012

 

EXCELLENT WHEAT HARVEST PROGRESS

Wheat harvest was the main story last week as farmers made excellent progress with over fifty percent harvested. Cotton planting was almost wrapped-up by week’s end. Good progress was also made planting soybeans and transplanting tobacco. Late week rains helped replenish soil moisture levels and were especially beneficial to corn. Cotton, soybeans and tobacco were progressing well ahead of the norm and rated in mostly good condition. The majority of pastures were reported in mostly fair-to-good condition. Other field activities included pesticide and herbicide applications. Continue reading →


01 Jun 2012

Weekly Crop Marketing Comments

01 Jun 2012
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Corn, cotton, soybean, and wheat prices are all down for the week. The June U.S. Dollar Index before the close was at 82.98, up 0.46 for the week and around a two year high. Strength in the Dollar or more appropriately the weakness of the Euro is tied directly to Europe’s financial instability. Weaker commodity prices have been a direct result. The Dow Jones Industrial Average traded before the close at 12,129, down 322 points since last Friday. Crude Oil before the close traded at 83.36 a barrel, down 8.17 a barrel for the week. Continue reading →