Corn, soybeans, and wheat prices are up with cotton prices down for the shortened Thanksgiving trading week. The U.S. Dollar Index closed at 80.24, down 1.07 for the week. The Dow Jones Industrial Average closed at 13,010 up 422 points for the week. Crude Oil closed at 88.28 a barrel, up 1.30 a barrel for the week. Commodity prices with the exception of cotton responded well to strong export sales and a weaker dollar at the end of the week. Trading volume was thin due to the Thanksgiving Holiday. Continue reading
All posts by Chuck Danehower, Extension Area Specialist - Farm Management
Crop Progress
As reported by NASS on November 19, 2012
END OF CROP SEASON DRAWS NEAR
The 2012 crop season in Tennessee is almost complete. Given just a few more sunny days, farmers will wrap-up row crop harvest and fall seeding. Ninety-eight percent of the cotton acreage has been harvested and only three percent of the soybean acreage still remains. Farmers also made notable progress seeding winter wheat last week. More than two-thirds of the winter wheat has emerged with over 80 percent rated in good-to-excellent condition. Continue reading
Weekly Crop Marketing Comments
Cotton prices are up with corn, soybeans, and wheat prices down for the week. The U.S. Dollar Index traded at 81.23 before the close, up 0.13 for the week. The Dow Jones Industrial Average before the close was 12,589 down 226 points for the week. Crude Oil was trading at 87.06 a barrel, up 0.51 a barrel for the week. Better weather in South America has put pressure on prices as the market deals with the bearish November 9 USDA report. Continue reading
Crop Progress
As reported by NASS on November 13, 2012
HARVEST WINDING DOWN… SHOULD BE COMPLETED BY THANKSGIVING
Soybean and cotton harvest are coming to an end and should be finishing up within the next couple weeks. Wheat planting is approaching completion, with less than 15 percent of the crop left to be seeded. Over 80 percent of the wheat was rated in good-to-excellent condition, as over half has emerged. Some farmers have started feeding hay. They also saw a brief break in the recent cold temperatures as the weekend brought warmer days. Continue reading
Weekly Crop Marketing Comments
Wheat prices are up with corn, cotton and soybean prices down for the week. The U.S. Dollar Index traded at 81.09 before the close, up 0.41 for the week. The Dow Jones Industrial Average before the close was 12,793 down 300 points for the week. Crude Oil was trading at 86.08 a barrel, up 1.22 a barrel for the week. USDA released a bearish monthly supply and demand report today. A stronger Dollar and weak stock market also played into the overall negative effect on commodities. Continue reading
Profitability Outlook
This table should be used as a guide as yields, prices, and expenses will vary among producers and locations. This table is a look at the start of the 2013 planning process as wheat has been planted. Yields are average yields for Tennessee with prices adjusted for the 2013 production year. Continue reading
Comments on the USDA Supply & Demand Report
Corn
In today’s report, a few adjustments were made to the old crop numbers more or less squaring them up as ending stocks were left at 988 million bushels. For the current marketing year of 2012/13, planted and harvested acreage were unchanged as adjustments there will be made in the January 11, 2013 report. There is some speculation that harvested acreage will be reduced to reflect corn that went to silage. Continue reading
Crop Progress
As reported by NASS on November 5, 2012
GREAT WEATHER FOR FARM ACTIVITIES
Farmers made a great deal of progress harvesting cotton and soybeans last week as they took advantage of the excellent weather. Growers also accomplished a considerable amount of wheat seeding, with about three-quarters of the acreage seeded at week’s end. Continue reading