NCC’s annual Cotton Planting Intentions survey estimates total 2016 US cotton acreage at 9.1 million acres, up 6.2% from 2015. Tennessee is estimated at 193,000 acres and if realized would be up 25% from 2015. Continue reading at NCC Survey Results.
Corn, soybeans, cotton, and wheat were down for the week. Commodity prices moved sideways at the beginning of the week and down on Friday. Reports this week out of South America should be considered neutral to bearish for corn and soybean prices. The further we move into February and March, the more production uncertainty will be removed from the Argentine and Brazilian crop – this will be negative for prices if the record large crop is realized. Harvest has already commenced on early planted soybeans in South America, but the majority of their soybeans will not be harvested until late February or March. Continue reading at Tennessee Market Highlights
Corn, soybeans, and wheat were up; cotton was down for the week. March corn futures have moved sideways for the past two weeks. Producers that have corn in storage should consider additional sales at the top end of the current futures range ($3.70-$3.72), particularly in areas where a beneficial basis currently exists. Currently, many locations in Tennessee have a strong positive basis (10 to 35 over the March contract). Cash prices near/above $4.00 are very good selling opportunities that should not be allowed to pass idly by. December 2016 corn futures are up almost 20 cents from the contract low of $3.74 ½ on January 7th. Continue reading at Tennessee Market Highlights.
Where am I? Where am I going? How do I get there? Sounds like I need a GPS. But a good farm financial plan can also answer these questions and serve as a map to your farm finances. Farm financial planning is used to evaluate the overall health of the farm business and determine the direction the business is going. Continue reading at Southeast Farm Press.
Corn, cotton, and wheat were up; soybeans were down for the week. March corn has rallied almost 20 cents since establishing a new contract low of $3.48 ½ on January 7th. March soybeans are up about 15 cents since the start of the year. However, significant resistance appears to be forming near $8.90. March cotton remains trapped in a 3 cent trading range (61-64 cents). March wheat has moved sideways since the USDA’s Winter Wheat Seedings report indicated domestic acreage was down 2.85 million acres. Continue reading at Tennessee Market Highlights.
Corn and soybeans were up; cotton was mixed; and wheat was down for the week. How do current harvest futures prices compare to the same time last year? On January 14: December 2015 corn futures were trading at $4.08 ½, 26 ½ cents higher than December 2016 corn futures ($3.82); November 2015 soybean futures were trading at $9.91 ¼, $1.01 higher than November 2016 soybean futures ($8.90 ¼); December 2015 cotton futures were trading at 63.01, 0.3 cents higher than December 2016 cotton futures (62.71); and July 2015 wheat futures were trading at $5.45 ¼, 64 ¾ cents higher than July 2016 wheat futures ($4.80 ½). Continue reading at Tennessee Market Highlights.
Corn production in Tennessee is estimated at 117 million bushels, up 3 percent from the November forecast and down 17 percent from the previous crop. Yield was estimated at 160 bushels per acre, unchanged from the previous forecast and down 8 bushels from the 2014 level. Acres for harvest as grain were estimated at 730,000 acres, down 110,000 acres from 2014. Continue reading at AnnualCrop15_TN.
U.S. feed grain supplies for 2015/16 are lowered as small increases in corn and sorghum imports and sorghum production are more than offset by a reduction in corn production. Harvested area for corn is raised slightly, but the national average yield is estimated 0.9 bushel per acre lower than the previous forecast at 168.4 bushels per acre. Corn production for 2015/16 is estimated 53 million bushels lower, but remains the third largest crop on record at 13.6 billion. Continue reading at Monthly Crop Comments & Profitability Update.