Announcement from USDA-FSA website.

America’s cotton producers have now faced four years of financial stress, just like the rest of the major commodities, but with a weaker safety net. In particular, cotton producers confront high input and infrastructure costs, which leaves them more financially leveraged than most of their colleagues. That economic burden has been felt by the entire cotton market, including the gins, cooperatives, marketers, cottonseed crushers, and the rural communities that depend upon their success. To help these farmers, USDA’s Farm Service Agency (FSA) is taking action to assist cotton producers through the Cotton Ginning Cost Share (CGCS) program. Continue reading →

Corn, soybeans, cotton, and wheat were up for the week. This week saw significant improvements in futures prices for all four commodities. Corn closed up 7-11 cents; soybeans closed up 9-24 cents; wheat closed up 33-36 cents; and cotton closed up 0.28-0.75 cents. The rally was fueled primarily by four factors: 1) continued dry weather concerns in Argentina, 2) continued buying by managed money, 3) strong export sales, and 4) drought concerns in the Southern and Northcentral Plains in the US. All four factors will continue to influence prices next week.

Improved futures prices are a welcome sight by producers looking to price crop prior to planting, however, a potential fly-in-theointment of commodity prices could emerge from this week’s announcement by President Trump of potential tariffs on steel (25%)
and aluminum (10%). These tariffs could result in retaliatory action from trade partners that could have a detrimental impact on agricultural exports, particularly China. Continue reading at Tennessee Market Highlights.

Corn and wheat were down; soybeans and cotton were up for the week. On Thursday and Friday, the USDA held its 94th annual Outlook Conference. The conference provides USDA’s initial estimates for the forth coming marketing year (2018/19).

The USDA currently projects corn acres planted at 90.0 million acres and harvested
acres at 82.7 million acres. Yield is a trend line estimate of 174 bu/acre. Total production is projected at 14.39 billion bushels, down 1.5% from 2017. Total use is projected at 14.52 billion bushels resulting in a decrease in ending stocks from 2.352 to 2.272 billion bushels. Continue reading at Tennessee Market Highlights.

Corn, soybeans, and wheat were up; and cotton was mixed for the week.

This week corn continued its upward trend. Since December 15, 2017, De-cember 2018 corn futures have increased from $3.79 ¼ to $3.97, up 17 ¾ cents. The rally has been fueled by recent strong export sales and weather concerns in Argentina. The increase in harvest futures prices is a welcome development as we are in the spring crop insurance price determination period – higher crop insurance prices will increase the revenue guarantees for producers. Continue reading at Tennessee Market Highlights.

Seed Cotton has recently been designated as a covered commodity eligible for Price Loss Coverage (PLC) and Agriculture Risk Coverage (ARC) programs in the 2014 Farm Bill beginning with the 2018 crop. Additional information can be found in this 2018 Seed-Cotton-Summary  from the National Cotton Council. Landowners with a generic base on their farm will have decisions to make within the next few months. The National Cotton Council is sponsoring a webinar on the 2018 Seed Cotton Program on Monday, February 19th from 1:00 p.m. – 2:30 p.m. UT Extension has  3 locations currently set up for producers and landowners to view, discuss, and learn about this new program. These locations are :

Veterans Museum, 100 Veterans Dr. Halls, TN 38040 Contact Chuck Danehower 731-635-9551. Co-sponsored by Tennessee Farm Bureau

UT Research & Education Center Ag Museum,  3 Ledbetter Rd, Milan, TN 38358 Contact Danny Morris 731-855-7656. Co-sponsored by Tennessee Farm Bureau

Haywood County Extension Office, 100 S. Wilson Ave., Brownsville, TN 38012 Contact Lindsay Griffin 731-772-2861. Co-sponsored by Nunn Cotton Company and Tennessee Farm Bureau.

Make plans to attend one of these webinars and learn how this new program will affect your farm operation. Additional information and decision aids will be coming out and available in the weeks ahead.

The National Cotton Council released their annual cotton acreage survey results on February 10, 2018. Tennessee cotton acreage for 2018 was estimated at 350,000 acres up 5,000 acres or 1.5% from 2017. Nationwide, all cotton acres are expected up 3.7% to 13.078 million acres. Additional information can be found at this Delta Farm Press article with individual state’s planting intentions for 2018 in this NCC Report.

Corn, soybeans, and wheat were up; and cotton was mixed for the week. This week corn, soybean, cotton, and wheat prices moved mostly sideways with a narrow trading range. This is contrary to the dramatic swings seen in the stock markets over the past ten days.

March corn futures have traded in a 22 cent range from $3.45 ½ to $3.67 ¾. As of Friday, the market closed near the high end of the trading range. December corn has continued a two month uptrend that has seen prices rise modestly from $3.80 on December 15th to $3.92 ¼ on February 9th. Small but positive gains for those looking to price 2018 production. Continue reading at Tennessee Market Highlights.