All posts by Chuck Danehower, Extension Area Specialist - Farm Management

23 May 2016

Tennessee Market Highlights

23 May 2016
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Corn and cotton were up; soybeans were mixed; and wheat was down for the week. Since May 3rd the USD index has appreciated 3.8%. A stronger USD is detrimental to US agricultural exports because it makes our products more expensive to foreign buyers (simply put, it takes more of the foreign currency to buy a USD). The USD index is still down 3.5% from the beginning of the year (98.76 to 95.343). The value of the USD will be an important factor if corn, soybean, wheat, and cotton exports are to meet the USDA’s recent projections for the upcoming marketing year. Continue reading at Tennessee Market Highlights.


19 May 2016

USDA SEEKS FEEDBACK FROM GROWERS ABOUT 2016 CROPS, STOCKS, INVENTORIES, VALUES

19 May 2016
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USDA SEEKS FEEDBACK FROM GROWERS ABOUT 2016 CROPS, STOCKS,
INVENTORIES, VALUES

NASHVILLE, TN – During the next several weeks, the U.S. Department of Agriculture’s
National Agricultural Statistics Service (NASS) will conduct two major mid-year surveys,
the June Agricultural Survey and the June Area Survey. The agency will survey more
than 2,600 farms across Tennessee to determine crop production and supplies levels in
2016. Continue reading at 2016 June Surveys News Release TN.


17 May 2016

Crop Progress – NASS Tennessee

17 May 2016
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WET WEATHER, HAIL DAMAGING TO CROPS

Wet weather and hail brought unfavorable consequences, primarily to Tennessee’s spring planted crops. Several thousand acres of soybeans, corn, and cotton were replanted because of wet soils that prevented seed emergence or caused seed to rot in the ground. Several tobacco growers had hail damage to their newly set tobacco plants. Pastures responded well to recent rains. Spring calving is at a steady pace. Topsoil moisture was 1 percent very short, 14 percent short, 66 percent adequate and 19 percent surplus. Subsoil moisture levels were 2 percent very short, 12 percent short, 75 percent adequate, and 11 percent surplus. Continue reading at TN_05_16_16.


10 May 2016

May 10th Supply and Demand Estimates and Profitability Outlook

10 May 2016
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May 10th Supply and Demand Estimates and Profitability Outlook 

This link to Supply & Demand Estimates & Profitability Outlook 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 based  on 2015 Tennessee state average/trend yields and current price offerings (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.

The report is prepared monthly by Dr. Aaron Smith and Chuck Danehower.


10 May 2016

Tennessee 2016 Wheat Forecast and May Hay Stocks

10 May 2016
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Tennessee farmers expect to harvest 27.4 million bushels of winter wheat during 2016 according to the Tennessee Field Office of USDA’s National Agricultural Statistics Service. The expected crop for 2016 would be up 2 percent from the previous year. Farmers seeded 440,000 acres last fall with 380,000 acres to be harvested for grain. Based on crop conditions as of May 1 and assuming a normal growing season, farmers expect a yield of 72.0 bushels per acre, up 4.0 bushels from 2015. Acres for other uses totaled 60,000 acres and will be used as cover crop or cut as silage or hay. Continue reading at PR_MAY16_TN.