The final numbers aren’t in on how producers finished 2016, but I suspect it will be a mixed bag with some producers doing OK based on above-average yields, good job marketing and containing production cost. Other producers may be struggling with average- to below-average yields, average prices and higher production costs. Another group may finish in between, operating around the breakeven point. Continue reading at Southeast Farm Press.

Corn, cotton, soybeans, and wheat were down for the week. The markets played the role of the Grinch this week as all four commodities were down substantially since last Friday. Continued advantageous weather in South America and a new high in the USD Index were the primary contributors to declining prices. Many analysts are predicting a bin busting harvest for Brazil and Argentina. For the South American soybean crop, January, February, and March weather will be very important as these are the critical filling and harvesting months. Additionally, if a record crop is produced concerns may arise due to inadequate infrastructure and logistics to get the crop from the principle growing regions to port. Continue reading at Tennnessee Market Highlights.

Corn, soybeans, and wheat were down; cotton was up for the week. Since July 20, March 2017 corn futures have traded between $3.25 (August 31) and $3.69 (October 20). The sluggish rebound off the contract low and tight trading range has been limited by record yields and production. Currently, there is limited news for traders to digest and act upon as last week’s USDA WASDE report was largely uneventful. Continue reading at Tennessee Market Highlights.

The USDA, NASS Tennessee Field Office has released the 2016 Wheat County Estimates for Tennessee. They can be read at wht16_tn.

Corn, soybeans, and wheat were up; cotton was down for the week. On Friday, the USDA released the December World Agricultural Supply and Demand Estimates (WASDE) report. Overall the report was pretty benign. No changes were made to the domestic balance sheets for corn, soybeans, and wheat. Only minor changes to yield – increased 18 lbs/acre, domestic use – decreased 200,000 bales, and exports – increased 200,000 bales were made for cotton. Continue reading at Tennessee Market Highlights.

This link to December 9, 2016 – USDA World Supply and Demand Estimates contains a summary of the USDA’s monthly World Agricultural Supply and Demand Estimates (WASDE) report. Domestic balance sheets for corn, soybeans, cotton, and wheat are displayed along with price reaction in futures markets for each commodity on the day of the report release. Additionally, supply and demand estimates for key importing and exporting countries are provided for the current month along with change in estimates from the previous report. The Profitability Outlook section contains estimated returns per acre for each commodity for 2017 based on Tennessee state average yield projections and estimated price offerings for 2017(note: cotton prices include a seed and hauling rebate). Variable expenses are based on the University of Tennessee Extension 2016 Row Crop Budgets. Prices are updated monthly; expenses are updated as warranted during the year and may be different than the expenses contained in the 2016 Row Crop Budgets. This section provides an estimation of the current relative profitability amongst major row crops in Tennessee.

Corn, soybeans, cotton, and wheat were down for the week. For the month of November, March 2017 corn futures closed down 14 ¼ cents, opening at $3.62 ¾ and closing at $3.48 ½; January soybeans closed up 20 ½ cents, opening at $10.11 ¾ and closing at $10.32 ¼; March cotton closed up 2.21 cents, opening at 69.37 and closing at 71.58; and March wheat closed down 31 cents, opening at $4.33 ¾ and closing at $4.02 ¾. Large gains in November occurred for the DJIA – up 981 points closing at 19,124 (up 5.4%), the Shanghai Composite Index – up 4.8%, and the USD index – up 3.2% closing at 101.54. Continue reading at Tennessee Market Highlights.

SCATTERED SHOWERS PROVIDE LITTLE RELIEF

Scattered showers across the state brought little relief to farmers desperate for rain. Livestock producers continued to have to feed hay to make up for the lack of forage. This early dependence on hay has caused concerns there may not be enough hay to carry herds through the winter. Some livestock producers are also having to haul in water to replace drying ponds. On a brighter note, winter wheat growers were busy planting ahead of anticipated rains. Continue reading Tennessee NASS report at tn_11_28_16.  The U.S. Crop Progress report can be read at cropprog-11-28-2016.