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.

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.

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.

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.