Corn
USDA in this month’s report raised ending stocks 150 million bushels from June to 880 million bushels for the 2010/11 marketing year on 145 million bushel decrease in usage and a 5 million bushel increase in imports. Feed and residual use was lowered 150 million bushels, corn for sweeteners was reduced 20 million bushels, exports lowered 25 million bushels and corn for ethanol was raised 50 million bushels. Continue reading
As reported by NASS on July 11, 2011
SCATTERED SHOWERS PROVIDED SOME MUCH NEEDED RAINS
A stalled cold front covered much of the state early in the week providing the conditions for scattered showers. A second cold front mid-week brought additional showers. However, by week’s end much of the state had returned to dry weather and hot temperatures. Most areas received enough rain to keep soil moisture levels healthy while still providing farmers with enough dry time to conduct fieldwork. The majority of Tennessee’s crops are rated in good condition. This year’s corn crop is doing quite well, with over a third of the crop rated in excellent condition. Wheat harvest is nearly complete and yields are excellent. Almost all of the soybeans are planted and emerged with over a quarter of the crop already blooming.
Corn, soybean, and wheat prices are up with cotton prices down since last Friday. The September U.S. Dollar Index was trading before the close at 75.51, up 0.93 since last Friday. The Dow Jones Industrial Average before the close was 12,620; down 100 points today but up 37 points for the week. Crude Oil was Continue reading
As reported by NASS on July 5, 2011
CROPS IN GOOD SHAPE ENTERING MONTH OF JULY. Last week’s mix of scattered rain and sunshine left most of Tennessee’s crops rated in good condition. The corn crop, in particular, has thrived so far this season, with over a quarter of the crop in excellent condition. Most areas received sufficient rain to keep soil moisture levels healthy while still providing farmers with enough dry days to conduct fieldwork. Wheat harvest and soybean planting were virtually complete across the state by week’s end. Continue reading
Corn, cotton, and wheat prices are down with soybean prices up since last Friday. Markets will be closed Monday in observance of 4th of July. The September U.S. Dollar Index was trading before the close at 74.68, down 1.44 since last Friday. The Dow Jones Industrial Average before the close was 12,557; up 623 points for the week. Crude Oil was trading before the close at 95.25 a barrel, up 4.09 a barrel since last Friday. Continue reading
Mark your calendar for two upcoming meetings that will provide pertinent farm and financial management and marketing information. The first is the July 11 Decisions 2011 Seminar in Memphis sponsored by Brock Associates and others. The second is the annual Mid-South Agricultural Finance Conference on August 3 at UT Martin. Continue reading
USDA released the June 30 Acreage Report and Quarterly Grain Stocks Report today. Both of these reports are based on conditions as of June 1.The acreage report has been called bearish for corn, cotton, and wheat and neutral to bullish for soybeans. At least from an initial glance, there were several surprises in this report. Corn acreage at 92.3 million acres was 1.6 million acres higher than the average trade guess and higher than the highest estimate, but close to the March 31 planting intentions. This would be the second highest acreage since 1944, only 2007 would be higher. Continue reading
As reported by NASS on June 27, 2011
GOOD WEATHER CONTINUES FOR TENNESSEE’S CROPS
Tennessee farmers received another week of favorable weather for crop growth. Scattered thunderstorms moved across the state and most areas recorded some amount of measurable precipitation. Several weeks of normal to above-average rainfall have replenished soil moisture levels. However, there were still enough dry days last week for farmers across the state to make some progress wrapping up wheat harvest, hay cutting, and soybean planting. As of the end of last week, Tennessee’s corn, cotton, soybean and tobacco crops were all rated in mostly good condition. Continue reading