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

12 Sep 2011

Comments on USDA’s Supply & Demand Report

12 Sep 2011
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USDA released their September report today and it has been considered bullish for corn, neutral for cotton and bearish for soybeans and wheat. Outside influences may have as strong an influence on the market as this report as the Dollar is stronger at 77.57 up .27, oil is up 0.98 a barrel at 88.22 and the Dow is up 60 points right before the close at 11,048 after spending most of the day down. Profitability outlook for 2012 is at the end of these comments. Continue reading →


09 Sep 2011

Weekly Crop Marketing Comments

09 Sep 2011
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Cotton prices are up and corn, soybean and wheat prices are down for the week. The September U.S. Dollar Index was trading before the close at 77.24, up 2.42 since last Friday. The Dow Jones Industrial Average was trading down 293 points for the week at 10,947. It was down 349 points today before the close. Crude Oil was trading before the close at 87.26 a barrel, up 0.69 a barrel since last Friday.  Europe’s debt crisis continues to weigh heavy on the stock market and has led to a stronger dollar which generally has a negative effect on commodity prices. The resignation of a key official of the European Central Bank signaled a deepening disagreement over how to solve Europe’s economic problems and overshadowed President Obama’s plan to revive the U.S. job’s market. Continue reading →


06 Sep 2011

Crop Watch

06 Sep 2011
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As reported by NASS on September 6, 2011

SUNDAY EVENING RAINS BRING RELIEF!

The first significant rainfall in a month fell across many areas of Tennessee late Sunday evening. The beneficial effect of this precipitation on crops and pastures is sure to be felt and will be reflected in next Sunday evening condition ratings. As far as this week, crop condition ratings slipped as 48 percent of the soybean acres were in the good-to-excellent category compared to 54 percent a week ago. Cotton and corn ratings basically held their own and continue in predominately good-to-excellent condition. Almost half of pastures were rated in very poor-to-poor condition. Farm activities last week included shelling corn, chopping silage, cutting and feeding hay and housing tobacco. Continue reading →


02 Sep 2011

Weekly Crop Marketing Comments

02 Sep 2011
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Corn and wheat prices are down with cotton and soybean prices up for the week. The September U.S. Dollar Index was trading before the close at 74.77, up 1.00 since last Friday. The Dow Jones Industrial Average was trading down 40 points for the week at 11,245. It was down 243 points at midday. Crude Oil was trading before the close at 86.63 a barrel, up 0.84 a barrel since last Friday.  The jobs report came in today flat with no new net jobs created and unemployment left at 9.1%. An increase in jobs was expected with this report creating some concern that the economy may suffer a setback and could be at an increasing risk of recession. Continue reading →


29 Aug 2011

Crop Watch

29 Aug 2011
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As reported by NASS on August 29, 2011

 CORN FOR GRAIN HARVEST HAS BEGUN; PASTURE CONDITIONS WANING

The hot, dry weather continued last week leading to a further weakening of crop conditions. Pastures have been especially hard hit by the lack of moisture. Many livestock producers have already begun feeding hay. Despite the decline in crop conditions since mid-August, crops are still rated in mostly good-to-excellent condition. Continue reading →


26 Aug 2011

Weekly Crop Marketing Report

26 Aug 2011
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Corn, soybean and wheat prices are up with cotton prices down for the week. The Pro Farmer Midwest Tour reports came in after the market closed with shocking corn results and soybean potential that will need a strong finish to achieve yields. November soybean prices blasted through the $14 sticking point. The September U.S. Dollar Index was trading before the close at 73.85, down 0.25 since last Friday. The Dow Jones Industrial Average was trading up 448 points for the week at 11,266. Continue reading →


24 Aug 2011

Concrete Theory of Family Living Expenses

24 Aug 2011
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The August 3rd Mid-South Ag Finance Conference had a discussion by Dr. David Kohl on family living costs and their importance in the overall farm financial picture. Dr. Kohl in quoting (see complete article below) Clark Garland with UT Extension said that family living withdrawal are like concrete; once set, they are difficult to change. Continue reading →


22 Aug 2011

Crop Watch

22 Aug 2011
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As reported by NASS on August 22, 2011

RAINFALL NEEDED TO MAINTAIN CROPS

 Precipitation across Tennessee last week was sparse, leaving all areas needing a good general rain. Farmers expressed concern that conditions will deteriorate rapidly without significant rainfall, soon. Despite these dry conditions the majority of the corn, soybean, cotton, and tobacco crops remain in good-to-excellent condition. Pastures are not fairing as well, with the majority of the acreage in fair-to-good condition. Continue reading →