Harvest of corn and grain sorghum continued, with good yields being reported. Dry weather reduced moisture content in corn and caused some early soybeans to drop leaves. Late soybeans and pastures began to show signs of drought stress. Dry conditions allowed some producers to squeeze in another hay cutting. Continue reading at Crop Progress 9 6 15.
Corn, soybeans, cotton, and wheat were down for the week. Prices continued to slide lower this week as harvest progressed across the South. Compared to last year at this time, corn and cotton futures are about the same while soybean and wheat futures are substantially lower. In 2014, the December corn contract low was $3.18 ¼ on October 1; the November soybeans contract low was $9.04 on October 1; the December cotton contract low was 57.84 on November 20; and the December wheat contract low was $4.66 ¼ on September 25. For 2015, the current contract lows are: corn ($3.57 ½); soybeans ($8.55); wheat ($4.63); and cotton 61.20. Given the estimated size of this year’s crop, current global economic conditions, the strength of the USD relative to our competitors, and the abundance of grain, oilseed, and cotton stocks worldwide, it is very unlikely that we have seen the contract lows for 2015. Continue reading at Tennessee Market Highlights.
As reported by NASS on August 31, 2015
CORN HARVEST, HAY CUTTING PICKS UP
Producers took advantage of the dry weather last week to harvest grain sorghum and corn. Corn yields are, so far, meeting earlier expectations of a good crop. Farmers are unsure of how the presence of sugarcane aphids will affect their grain sorghum harvest. Producers took advantage of dry weather during the week to make another hay cutting. There were 6.3 days suitable for field work last week. Continue reading at Crop Progress 8 30 15.
Corn, soybeans, cotton, and wheat were down for the week. This week we saw a tremendous amount of volatility in the Dow Jones Industrial Average (DJIA) and crude oil. The DJIA reached a 565-day low of 15,666 on Tuesday August 25th and October WTI Crude Oil futures established a new low of 37.75 on Monday August 24th. The DJIA bounced back and erased all of the week’s losses with rallies on Wednesday and Thursday closing close to where the week began. Continue reading at Tennessee Market Highlights.
A quick yield and price assessment to estimate income along with examination of remaining outflows for the year can prevent problems before they occur. Include in the outflows- operating loan, equipment & land loans, cash rent, and an estimate of remaining expenses. Continue reading at Southeast Farm Press.
Article by Danny Morris, UT Extension Area Specialist – Farm Management
With commodity prices trending lower over the course of the past two years, producers are looking at alternative crops to potentially increase their net farm income. An example of this would be producers planting more grain sorghum, or milo, as they have done here in Tennessee for this crop year. Some West Tennessee growers are contemplating planting canola this year due to a canola processing facility in Kentucky and a few local grain elevators expecting to be buying stations in 2016. Continue reading at Profitability of Canola for West Tennessee Growers.
As reported by NASS on August 24, 2015
LIMITED CORN HARVEST BEGINS; RAIN WELCOMED
Limited corn harvest began between rains last week. Producers welcomed the rain which boosted pastures, thus improving cattle condition. The rains also helped bring a good finish to crops. Producers are cautiously optimistic about yields this season. Continue reading at Crop Progress 8 23 15.
While prices have declined for grains, they are not that far off from when the crop was planted. Grains and soybean prices for harvest delivery have dropped 2 percent to 5 percent since mid-May. Prices have been volatile in between with some opportunities for pricing. Still, further declines in prices even at record or close-to record yields are not needed. Continue reading at Southeast Farm Press.