Corn, cotton, and wheat were up; soybeans were down for the week. On Thursday, the USDA released updated tables with long-term projections for key agricultural commodities (2014-2024). Highlights of the report for each commodity are: Corn: In 2015, planted acreage was estimated at 88 million acres down 2.9 million acres from 2014. Marketing year average farm price for the next five years was estimated from a low of $3.40 (2015) to a high of $3.55 (2019). Continue reading at Tennessee Market Highlights.
All posts by Chuck Danehower, Extension Area Specialist - Farm Management
Flexible lease: Let’s talk about the advantages and disadvantages
As commodity prices increased since 2008 there has been an interest among producers and landowners to explore the flexible lease concept. Flexible crop leases have been more in place in the Midwest, but within the last few years have seen increased interest in the Southeast and Mid-South. Continue reading at Southeast Farm Press.
Tennessee Market Highlights
Corn, cotton, soybeans, and wheat were up for the week. Corn producers may want to consider pricing some of their 2015 production as December corn is currently at $4.31/bu, which is the highest price since early July and above many breakevens. The December WASDE released on Wednesday contained limited new information and no major surprises. U.S. corn ending stocks were decreased 10 million bushels to 1.998 billion for the 2014/15 marketing year. Continue reading at Tennessee Market Highlights.
December 10, 2014 – USDA World Supply and Demand Estimates & Profitability Update
Corn
U.S. feed grain supply and use projections for 2014/15 are mostly unchanged as a small increase in projected corn food, seed, and industrial (FSI) use reduces ending stocks slightly. Expected corn use for sweeteners is raised 10 million bushels dropping projected corn ending stocks just below 2.0 billion bushels. Supply and use projections for the other feed grains are unchanged. The projected range for the season-average corn farm price is unchanged at $3.20 to $3.80 per bushel. Continue reading at December 10th USDA WASDE report
Tennessee Market Highlights
Corn, soybeans, and wheat were up; cotton was down for the week. March corn futures have traded flat since October 28th in a range of $3.71 to $4.01. Due to record production and the 2 billion plus bushel carry over, producers should be cautious carrying unpriced corn into 2015 as it is likely we will see the market trade flat to down in early 2015. Soybean export sales continue to provide price support as net sales commitments year-to-date are near 1.46 billion bushels for the 2014/15 marketing year com-pared to the USDA estimated marketing year total of 1.72 billion bushels (2014/15 marketing year is from September 1, 2014 to August 31, 2015). Continue reading at Tennessee Market Highlights
Tennessee Market Highlights
Corn, cotton, and wheat were up; soybeans were down for the week. Since October 27th, March corn futures have traded between $3.70 and $4.01; it is likely that this trading range will persist as we conclude the 2014 calendar year. Moving into 2015, corn prices are likely to have more downside price pressure as farmers bring the record crop to market. Producers should be cautious about carrying unpriced corn into 2015 as limited upside potential exists. Continue reading at Tennessee Market Highlights .
Crop Progress
Through rains and light snow during the week, some producers were able to finish harvesting their crops, while others may not finish until after Thanksgiving. Cooler temperatures have led to feeding cattle more hay. Some pastures are holding water or experiencing hard freezes, negatively affecting condition. Continue reading at Crop Progress 11 23 14 .
Tennessee Market Highlights
Corn, cotton, and wheat were down; soybeans were up for the week. December 2014 corn started the week at $3.81 per bushel decreased 19 cents before rebounding on Thursday from strong export sales numbers, closing down 9 cents for the week. As we move through the holiday season, it is likely that we will see March corn continue trading between $3.50 and $4.00, however as we move into the new year prices may turn lower as the record crop moves to market. Continue reading at Tennessee Market Highlights.