Corn and wheat were down; cotton and soybeans were up for the week.

Domestic corn production/yield will drive prices for the next couple of months.
Currently, the USDA projects U.S. corn production at 14.153 billion bushels,
down 995 million bushels from last year. Harvested acres are projected at 83.5
million acres, down 3.2 million acres compared to last year and yield is projected at 169.5 bu/acre, down 5.1 bu/acre compared to last year. At this time of year, acreage estimates are generally agreed upon, however, national and state average yields are often hotly debated. Continue reading at Tennessee Market Highlights.

Along with harvest planning, this is a critical time of the year for farmers to take a good look at their marketing and financial situation.

Generally this time of year, crops are either in preharvest condition for corn or in a layby state for cotton. Soybeans are usually somewhere in between, depending if they are early planted or late planted. Continue reading at Southeast Farm Press.

PRODUCERS READYING FOR CORN HARVEST

Corn producers are checking equipment in anticipation of the start of harvest. The crop looks promising and good yields are expected. Additionally, last week’s soaking rains improved crop conditions, particularly late planted corn and soybeans. Pasture conditions also showed improvement. There were 4.4 days suitable for field work. Topsoil moisture was 5 percent very short, 9 percent short, 79 percent adequate and 7 percent surplus.
Subsoil moisture was 5 percent very short, 13 percent short, 77 percent adequate and 5 percent surplus. Continue reading at TN_08_21_17. The U.S. Crop Progress report can be read at  CropProg-08-21-2017.

Corn, cotton, soybeans, and wheat were down for the week.

Cash corn prices moved lower this week. In Tennessee, cash corn prices typically
achieve the marketing year low in August or September. In eight of the last
eleven years, the lowest monthly average price occurred in August or September
(four times each). From 2006 to 2016, monthly average corn prices were 48 cents lower than the marketing year average (the corn marketing year is Sept 1 to Aug 31). In Tennessee, the monthly average high typically occurs in July – on average 58 cents per bushel more than the final marketing year average price. From September to January, average monthly prices typically strengthen, relative to the marketing year average (Sept -$0.48, Oct -$0.44, Nov -$0.24, Dec -$0.18, & Jan -$0.13). On farm or commercial storage allows producers to take advantage of “typical” price improvements. Continue reading at Tennessee Market Highlights.

THUNDERSHOWERS SLOW FIELD WORK

Spotty thundershowers, some heavy, returned to the state last week, slowing field work but bringing welcome moisture. Corn producers were getting ready for harvest, while other row crop producers were busy with weed control. Hay producers were working on their second or third cuttings. Some Bermuda grass pastures were showing signs of stem maggot infestation. There were 5.0 days suitable for field work. Topsoil moisture was 9 percent very short, 12 percent short, 70 percent adequate and 9 percent surplus. Subsoil moisture was 7 percent very short, 13 percent short, 72 percent adequate and 8 percent surplus. Continue reading at TN_08_14_17. The U.S. Crop Progress report can be read at  CropProg-08-14-2017.

Corn, cotton, soybeans, and wheat were down for the week.

The big news this week was the release of the USDA’s August WASDE report. Full details of the report for corn, soybeans, cotton, and wheat can be found online at: Monthly Crop Comments.

Overall the report had a bearish market reaction for all four commodities with 2017/18 contracts down across the board: corn futures were down 12-15 cents; soybeans down 24-33 cents; wheat down 15-19 cents; and cotton down 2.24-3 cents. The primary driver was higher domestic yields than anticipated. National yields (the first for this crop year estimated by survey data) were: 169.5 bu/acre for corn; 49.4 bu/acre for soybeans; 45.6 bu/acre for wheat; and 892 lbs/acre for cotton. Continue reading at Tennessee Market Highlights.

Released: August 10, 2017

Tennessee cotton production forecast up 18 percent

NASHVILLE, Tenn. – The U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) released the August Crop Production report today, showing Tennessee’s cotton production continuing to rebound. This month’s report is the first of the season to forecast row crop production.

“Tennessee’s cotton crop acreage continues its steady rise from record lows over the past few seasons, and tobacco yields are expected to rise from last season’s weather-plagued crop,” said Debra Kenerson, Tennessee State Statistician. Continue reading  at PRAUG17_TN.

HAY STOCKS PROMISING, CATTLE IN GOOD CONDITION

Mostly dry weather provided ideal conditions for producers to cut hay, with average to better than average yields reported. This is seen as a positive sign that hay stocks will be adequate going into winter. Moderate temperatures combined with good pasture conditions contributed to improved cattle condition. Crops are in mostly good condition but could use a soaking rain. There were 6.1 days suitable for field work. Topsoil moisture was 14 percent very short, 22 percent short, 60 percent adequate and 4 percent surplus. Subsoil moisture was 11 percent very short, 21 percent short, 64 percent adequate and 4 percent surplus. Continue reading at TN_08_07_17. The U.S. Crop Progress report can be read at CropProg-08-07-2017.