Corn, soybeans, and cotton were down; wheat was up for the week. September corn futures have stayed above the contract low established back on October 1, 2014 of $3.54 ¾. Nationally, planting and growing conditions have been excellent year-to-date, so corn futures being able to hold this key level of support is a positive. That being said, if above average growing conditions persist and acreage is affirmed at or above current USDA estimates this threshold could be breached. Continue reading at Tennessee Market Highlights.
All posts by Chuck Danehower, Extension Area Specialist - Farm Management
Crop Progress
As reported by NASS on May 18, 2015
RAINS NOW HOPED FOR
The rains that kept producers out of the fields for weeks would now be welcome as soil starts to dry out. A good general shower would help with crop development. The dry weather did allow corn producers to come within 7 points of getting their entire crop planted. Winter wheat is in mostly in good to excellent condition. Continue reading at Crop Progress 5 18 15.
Tennessee Market Highlights
Corn, cotton, and wheat were up; soybeans were down for the week. On Tuesday May 12th the USDA released the May WASDE report. The report contained initial supply and demand estimates for the 2015/2016 marketing year. So how do estimates for the 2015/16 marketing year compare to the 2104/15 marketing year? Continue reading at Tennessee Market Highlights.
TENNESSEE 2015 WHEAT FORECAST AND MAY HAY STOCKS
Tennessee farmers expect to harvest 28.3 million bushels of winter wheat during 2015 according to the Tennessee Field Office of USDA’s National Agricultural Statistics Service. The expected crop for 2015 would be down 10 percent from the previous year. Farmers seeded 470,000 acres last fall with 410,000 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 69.0 bushels per acre, up 3.0 bushels from 2014. Continue reading at USDA TN NASS News release May 12, 2015.
Comments on USDA WASDE Report & Profitability Update
May 12, 2015 – USDA World Supply and Demand Estimates
Corn
U.S. feed grain supplies for 2015/16 are projected to slightly exceed the record level of 2014/15 as larger beginning stocks more than offset lower expected production. Corn production is projected at 13.6 billion bushels, down 586 million from the record 2014/15 crop with a lower forecast area and yield. The U.S. corn yield is projected at 166.8 bushels per acre, down 4.2 bushels from the 2014/15 record based on a weather adjusted yield trend that assumes normal summer weather. Continue reading at Monthly Crop Outlook.
Crop Progress
As reported by NASS on May 11, 2015
PLANTING PROGRESS MAKES HUGE STRIDES
Weather this past week brought producers great relief in the ability to get their crops in the ground. Corn planting surpassed the 5-year average while soybeans and cotton both made great planting progress. Producers continued to cut hay. There were 6.7 days suitable for field work last week. Continue reading at Crop Progress 5 11 15.
Tennessee Market Highlights
Soybeans and wheat were up; cotton was down; and corn was mixed for the week. This past week planting conditions have been excellent throughout most of the Mid-south and Corn Belt states. While this is good news for producers, it is important to remember that planting progress is largely uncorrelated with final yields. Weather moving forward will have the ultimate say in determining final 2015 yields. Continue reading at Tennessee Market Highlights.
Crop Progress
As reported by NASS on May 4, 2015
DRIER CONDITIONS ALLOW FARMERS BACK INTO FIELDS
A mostly rain-free week allowed fields to dry out to the point that field work could resume all across the state. Corn farmers made great strides in planting and some early crop soybeans were also planted. Hay producers began the first cutting of hay. Continue reading at Crop Progress 5 4 15.