CROPS IN GOOD CONDITION; ADDITIONAL RAINS STILL NEEDED

Timely showers in some areas allowed both crop progress and condition to flourish. Additional rains are still needed to stimulate pasture growth and to aid producers in making progress in planting soybeans behind wheat harvest. There were 4.8 days suitable for field work. Topsoil moisture was 1 percent very short, 15 percent short, 74 percent adequate, and 10 percent surplus. Subsoil moisture was 1 percent very short, 13 percent short, 76 percent adequate, and 10 percent surplus. Continue reading at  TN_06_25_18.   The U.S. Crop Progress report can be read at CropProg-06-25-2018.

Corn, cotton, soybeans, and wheat were down for the week. Early this week commodity prices continued the three week sell off before stabilizing by the end of the week. From June 1, corn, soybean, wheat, and cotton harvest futures are down 35 ½, 118 ½, 33 ¼, and 6 .32 cents. The decrease in prices have been sudden and deep. The reasons for the decline are three fold 1) great growing conditions to date; 2) the escalation of trade tensions with China and other countries; and 3) the liquidation of long positions in corn and soybeans by investment money. All three are intertwined in the price decline as without 1 and 2, 3 wouldn’t have occurred (or would at the least been muted to a large extent. Continue reading at Tennessee Market Highlights.

Dr. Aaron Smith with UT Extension will present a webinar in conjunction with The University of Arkansas on Thursday June 21 at 3 p.m. central time. To register for this free webinar go to http://bit.ly/UAEX-Marketing-Corn-Soybeans-Smith

 Title: Marketing Corn and Soybeans during the Growing Season: 2018 Outlook and Pricing Opportunities

Time: June 21, 2018 3:00 PM in Central Time (US and Canada)

 Presenter: Dr. Aaron Smith, Assistant Professor, Department of Agricultural and Resource Economics, University of Tennessee – Recipient 2015 Premier Forecaster Award by the Agricultural & Applied Economics Association Extension Section

 Description: The presentation will examine the current market outlook for corn and soybeans including an overview of global and domestic supply and demand. In-season marketing and risk management strategies and opportunities for corn and soybean producers will be discussed. Lastly, 2018 and 2019 price projections and factors that could influence corn and soybean prices will be presented.

Registration Link: http://bit.ly/UAEX-Marketing-Corn-Soybeans-Smith

WHEAT HARVEST IN FULL SWING

Spotty showers caused slight delays in wheat and hay harvest, but did not keep farmers from making significant progress. Cotton and soybean producers were busy spraying their crops. High temperatures and humidity continued to put stress on livestock. There were 5.5 days suitable for field work. Topsoil moisture was 1 percent very short, 16 percent short, 78 percent adequate, and 5 percent surplus. Subsoil moisture was 2 percent
very short, 14 percent short, 76 percent adequate, and 8 percent surplus. Continue reading at TN_06_18_18. The U.S. Crop Progress report can be read at CropProg-06-18-2018.

What do you consider the breakeven price to be for a bushel of soybeans?

This was a question posed to candidates at a Tennessee gubernatorial forum in early May in the heart of soybean country in Northwest Tennessee.

Realistically, there is no correct answer but a range of acceptable answers depending on a farmer’s individual situation. Considering there are farmers in Tennessee and the U.S. that may struggle with answering the question, expecting gubernatorial candidates to be on top of such an answer may be a stretch. Regardless, most acquitted themselves well with their answers and did show they realize the importance of soybeans and agriculture in Tennessee. Continue reading at Southeast Free Press.

USDA, NASS, Tennessee Field Office
Debra Kenerson, State Statistician

Released: June 12, 2018

Tennessee Wheat Growers Expect a Record High Yield

 Tennessee farmers expect to harvest 22.5 million bushels of winter wheat during 2018 according to the Tennessee field office of USDA’s National Agricultural Statistics Service. The expected crop for 2018 would be up 17 percent from the previous year. The forecast was based on crop conditions as of June 1 and increased 4 percent from the May forecast. Growers expect a yield of 75.0 bushels per acre, up 5.0 bushels from 2017 and up 3.0  bushels from May. Continue reading →

FARMERS RETURN TO THEIR FIELDS

Dry weather prevailed over the state last week, allowing farmers to get back into the field. Corn planting wrapped up, while significant progress was made on cotton and soybean planting. Hay producers put up a lot of hay last week, but some were reporting their hay was of poorer quality than usual due to the lateness of the first cutting. A few livestock producers reported that the higher temperatures and humidity were putting stress on their animals. There were 6.5 days suitable for field work. Topsoil moisture was 2 percent very short, 14 percent short, 78 percent adequate, and 6 percent surplus. Subsoil moisture was 2 percent very short, 10 percent short, 79 percent adequate, and 9 percent surplus. Continue reading at  TN_06_11_18.  The U.S. Crop Progress report can be read at  CropProg-06-11-2018.