Corn was mixed; cotton was down; soybeans and wheat were up for the week.
For corn and soybean producers, activity in futures markets in February is very important. For Tennessee producers, projected crop insurance prices and volatility factors are determined from February 1-28. The projected price will set revenue guarantees and potentially affect planting decisions. At the start of February 2023, December 2023 corn futures were slightly above ($5.94) last years projected crop insurance price of $5.90 per bushel and November 2023 soybean futures ($13.65) were well below last year’s futures price of $14.40. The direction of prices from now until the end of February will be key for producers when examining risk management and marketing strategies for the 2023 crop. Continue reading at Tennessee Market Highlights.