Corn
In today’s report, old crop corn ending stocks were lowered 193 million bushels from last month to 988 million bushels and reflect the September 29 Grain Stocks report. Feed/residual use was increased 162 million bushels; food, seed, and industrial uses increased 31 million bushels; and imports and exports offset each other with 3 million bushel increase for imports and the same for exports. The stocks to use ratio dropped from 9.6% to 7.9%. Continue reading
As reported by NASS on October 9, 2012
RAINS SLOW HARVESTING
Rains continued to slow harvest and other fall activities last week. Farmers, with four and a half days suitable for field work, made the most of these conditions as they were active harvesting corn, cotton, tobacco, soybeans, and hay. In addition, cotton defoliation and wheat seeding occupied their time. Continue reading
Prices are reported through Thursday, October 4, 2012. Cotton prices are up; corn mixed with soybean and wheat prices down for the week through Thursday. The U.S. Dollar Index traded at 79.28 early Friday down 0.74 for the week. The Dow Jones Industrial Average in early trading Friday was 13,640 up 198 points for the week. Crude Oil was trading at 90.27 a barrel, down 1.92 a barrel for the week. A greater than expected jobs report Friday morning put unemployment at 7.8%, the lowest in 44 months and could be suggesting that the economy is gaining some momentum. Continue reading
A recent article in the Southeast Farm Press by Ron Smith entitled Estate planning crucial by year-end highlighted estate planning information that producers and landowners might want to consider before year end. There are many unknowns on what legislation will get enacted and the impact it can have on estate planning. Check this article out and if it is something you need to consider, then start acting on it now – http://southeastfarmpress.com/management/estate-planning-crucial-year-end Continue reading
As reported by NASS on October 1, 2012
MILD AUTUMN WEATHER GOOD FOR HARVEST
Despite scattered showers last week, corn harvest was coming to a close and farmers have turned their focus to harvesting cotton and soybeans. Cotton, soybean, and burley tobacco harvest was progressing at a near normal pace, while dark fire and dark air-cured tobacco harvest continued to lag behind, reportedly because of labor shortages. Many farmers wrapped-up the fall hay harvest last week. A few wheat growers have begun seeding. Continue reading
Corn prices are up, wheat mixed and cotton and soybean prices down for the week. The U.S. Dollar Index before the close was 80.06 up 0.66 for the week. The Dow Jones Industrial Average before the close was 13,417 down 162 points since last Friday. Crude Oil before the close was 91.93 a barrel, down 1.05 a barrel for the week. USDA released its Grain Stocks report reflecting stocks as of September 1st. Continue reading
If you are planning on planting wheat this fall you will want to evaluate crop insurance on your wheat crop. The deadline to take out crop insurance for wheat is fast approaching. A colleague from University of Missouri Extension- David Reinbott, Ag Business Specialist in Benton, MO put the following information together on wheat crop insurance. For the most part, it is applicable for Tennessee. Please look it over. The deadline to sign up for crop insurance for wheat is September 30. With the potential of lower commodity prices next summer, a farmer should take a close look at the revenue based crop insurance products Revenue Protection (RP) and Revenue Protection with Harvest Price Exclusion (RP-HPE). Continue reading
In Tennessee and much of the Mid-South, the months of September and October are generally the times producers finalize their decision on whether to plant wheat. Certainly, there are many other decisions occurring during this harvest period, but producers interested in wheat should have already developed their wheat production plan. There are normally several factors that are examined when developing a wheat production plan. The factor I most look at is the profitability factor. Continue reading