Throughout the year, I receive calls from both producers and landowners on what is a fair rent for either the land owned or what is being leased. The commonality in these calls is they want to either receive a fair rent or pay a fair rent. Continue reading at Southeast Farm Press.
As reported by NASS on November 17, 2014
CORN HARVEST WINDS DOWN
Despite showers midweek in advance of a cold front, farmers managed to make good progress harvesting corn, cotton and soybeans. Drastically cooler temperatures affected the emergence of newly planted wheat and caused some livestock producers to start feeding hay. There were 4.9 days suitable for field work. Continue reading at Crop Progress 11 16 14 .
Corn and wheat were up; cotton and soybeans were down for the week. Estimated domestic corn yields were dropped 0.8 bpa to 173.4 bpa in the latest USDA-WASDE report surprising many analysts, as most thought that the USDA would increase corn yields. At this point, minor revisions to corn yield will not substantially change the estimated 2 billion bushel carryover into the next marketing year. As such, there is limited upside in corn futures prices for this marketing year, until new information is revealed. Continue reading at Tennessee Market Highlights.
Corn production is forecast 68 million bushels lower, but still a record at 14,407 million bushels. The national average corn yield is reduced 0.8 bushels per acre to 173.4 bushels. U.S. corn use for 2014/15 is projected slightly higher with a 5-million-bushel increase in expected food, seed, and industrial (FSI) use. Corn used in ethanol production is projected 25 million bushels higher. Continue reading at November 10th Comments .
As reported by NASS on November 10, 2014
RAIN SLOWS CROP HARVEST, AIDS NEWLY SEEDED PASTURES
Between rains, producers made progress with planting and harvesting crops in the 4.1 days suitable for field work. Even though rains kept producers out of their fields, the rains were beneficial to pastures, which are in mostly good condition. Topsoil moisture was 6 percent short, 78 percent adequate and 16 percent surplus. Subsoil moisture levels were 1 percent very short, 11 percent short, 81 percent adequate, and 7 percent surplus. Continue reading at Crop Progress 11 9 14 .
November Tennessee Crop Production Forecast
Corn production in Tennessee is forecast at 135 million bushels, up 3 percent from the October forecast and up 6 percent from the previous crop. Yield was estimated at 165 bushels per acre, up 5 bushels from last month and up 9 bushels from the 2013 level. Acres for harvest as grain were estimated at 820 thousand acres, unchanged from 2013. The U.S. corn production is forecast at 14.4 billion bushels, down slightly from the October forecast, but up 3 percent from 2013. Based on conditions as of November 1, yields are expected to average 173.4 bushels per acre, down 0.8 bushels from last month but up 14.6 bushels from 2013. Continue reading at November TN Crop Production .
Corn, soybeans, cotton, and wheat were down for the week. Since July 21, December corn futures have traded between $3.18 and $3.81 and March corn futures from $3.30 to $3.94. Without any major weather disruptions in South America or surprises on the November WASDE report it is very likely that we will continue to trade within these ranges for the next few months. As such, producers with unpriced production should look for opportunities at the higher end of this trading range to price unsold production. Continue reading at Tennessee Market Highlights .
As 2014 winds down and producers prepare for 2015, it is time to review and evaluate farm leases. In most cases, farm leases are signed in the December – January time period. This is especially true for renewals on annual leases, and also the time frame for securing land that is coming up for rent. Continue reading at Southeast Farm Press .