Corn, soybeans, and cotton were up; wheat was mixed for the week. This week started out with a bang as rumors regarding changes to RFS/Ethanol/ Biodiesel provided fuel for Tuesday’s rally in corn and soybean markets. For the remainder of the week markets moved sideways to lower. The final projected prices and price volatility factors for crop insurance for corn, soybeans, and cotton in Tennessee were set this week. For corn, projected price was set at $3.96 with a price volatility factor of 0.19 (compared to last year – $3.86 and 0.17). For soybeans, projected price was set at $10.19 with a price volatility factor of 0.16 (compared to last year – $8.85 and 0.12). For cotton, projected price was set at $0.74 with a price volatility factor of 0.15 (compared to last year – $0.60 and 0.14). Continue reading at Tennessee Market Highlights.

Corn, soybeans, and wheat were down; cotton was up for the week.
At this week’s USDA Agricultural Outlook Forum acreage estimates for 2017 were: 88 million acres of soybeans – up 4.6 million from last year; 90 million acres of corn – down 4.0 million from last year; and wheat 46 million acres- down 4.2 million from last year.
For corn, 2017 estimates were: yield of 170.7 bu/acre (down 3.9 bu/acre from 2016); production at 14.065 billion bushels (down 1.083 billion bushels from 2016); and ending stocks at 2.215 billion bushels (down 105 million bushels 2016). Continue reading at Tennessee Market Highlights.

The 2016 National Agricultural Statistic Service (NASS) County estimates for corn and soybeans have been released. The county corn yield estimates can be read at Corn16_TN. The county soybean yield estimates can be read at SOY16_TN.

Has the tide turned for row crop producers? Profitability is looking better for cotton, corn and soybeans.

Tennessee producers at Extension meetings appear to have a guarded optimism toward 2017 production. While there may be many reasons for that optimism, there are at least three that stick out:

No. 1 – Prices have remained stable to slightly higher. For soybeans and grain, this seems to fly in the face of large supplies and projected ending stocks. We would have to go back 10-12 years for the last time ending stocks were this high for soybeans and corn. Continue reading at Southeast Farm Press.

USDA to Collect Data on Farmland Rental Rates

NASHVILLE, Tenn. – Beginning this month, the U.S. Department of Agriculture’s
National Agricultural Statistics Service will contact Tennessee farmers to gather land
rental rate information for the Cash Rents and Leases survey. The results of this survey
will serve as a valuable decision-making tool for farmers and can be used for 2018
rental agreement negotiations. Continue reading at TN Cash Rents.

Corn, soybeans, cotton, and wheat were down for the week. Compared to last year at this time corn and soybean harvest futures are trading approximately $0.05/bu and $1.25/bu higher, respectively. This will have direct implications in planted acreage this spring. The difference in prices will also alter the revenue guarantee relationship, provided through crop insurance, which will be a key factor for many Midwest and Delta producers. Continue reading at Tennessee Market Highlights.

Corn, soybeans, and wheat were up; cotton was mixed for the week. December corn futures got very close to the psychological barrier of $4.00 bushel on Friday. If $4.00 is breached early next week, the markets will likely encounter increased producer selling. The long term trend for the December 2017 contract remains up but for how long remains to be seen. Continue reading at Tennessee Market Highlights.  Comments on the February 9, 2017 – USDA World Supply and Demand Estimates and a Profitability Update can be read at USDA WASDE.