Projected corn ending stocks are raised 50 million bushels with a reduction in expected feed and residual use reflecting December-February disappearance as indicated by March 1 stocks. The projected range for the corn season-average farm price is narrowed 5 cents on each end to $3.55 to $3.85 per bushel. Continue reading at Dr. Aaron Smith’s comments on April 10th USDA report.
The profitability outlook has been updated after the release of the April 9, 2015 USDA WASDE reports. Today’s market reaction while negative, did not change much in the profitability outlook. I would like to point out the cotton price of 70 cents that is being used in the profitability outlook. I would guess that there has been very little cotton priced for 2015. The price of 70 cents is made up of a cash price of 62 – 63 cents and gin rebates (seed & hauling) of 7-8 cents. Continue reading at Profitability Outlook April 9 2015.
As reported by NASS on April 6, 2015
WHEAT IN GOOD CONDITION; PRODUCERS ANXIOUS TO PLANT CORN
Wet weather has benefitted wheat, which is developing well ahead of last year’s crop. Fifty-eight percent of the winter wheat crop showed no freeze damage and 33 had light damage. A limited number of corn acres have been planted because of wet fields. Continue reading at Crop Progress 4 5 15.
Soybeans and wheat were up, corn was down, and cotton was mixed for the week. On March 31st the USDA released its Prospective Plantings and Quar-terly Grain Stocks reports, highlights of the reports include: Nationally, 2015 planted acreage was estimated at: 89.2 million acres of corn, down 2% from 2014; 84.6 million acres of soybeans, up 1% from 2014; 55.4 million acres of wheat, down 3%; 9.5 million acres of cotton, down 13%; and 7.9 million acres of sorghum, up 11%. Continue reading at Tennessee Market Highlights.
The profitability outlook has been updated after the release of the March 31 Planting Intentions and Quarterly Grain Stocks reports. While the market did react to those reports, there was not much change in the profitability outlook since the March 10th USDA WASDE reports. Continue reading at Profitability Outlook March 31 2015.
On Tuesday March 31st, the USDA released their Prospective Plantings and Quarterly Grain Stocks reports. Below are the futures market reaction and a summary of the reports for corn, soybeans, cotton and wheat for the U.S. and Tennessee. Continue reading at 2015 Prospective Plantings and Quarterly Grain Stocks Report Summary.
Corn and cotton were up; soybeans and wheat were down for the week. This week corn futures prices strengthened relative to soybeans. Currently, the nearby soybean to corn futures price ratio is 2.47; compared to a harvest price ratio of 2.33. The harvest price ratio has the potential to further decrease if, on March 31st, the USDA planted acreage estimates contain more than expected planted acres of soybeans and less than expected planted acres of corn. Of course the potential exists for the USDA to provide a surprise on Tuesday. Continue reading at Tennessee Market Highlights.