WEATHER BRINGS CHALLENGES FOR LIVESTOCK, CROP PRODUCERS

Widespread showers, while helping tremendously with development of crops already in the ground, also limited some producer’s ability to get back into the field to bale hay that had been cut. Rain also forced some producers to delay applying weed control applications and finish planting crops. There were also reports of pink eye in cattle. There were 3.8 days suitable for field work, compared to 4.8 last week. Topsoil moisture was 11 percent short, 69 percent adequate, and 20 percent surplus. Subsoil moisture was 1 percent very short, 9 percent short, 76 percent adequate, and 14 percent surplus. Hay and Roughage supplies were 12 percent short, 78 percent adequate, and 10 percent surplus.  Continue reading at TN_07_02_18. The U.S. Crop Progress report can be read at  CropProg-07-02-2018

RELEASED: June 29, 2018

Tennessee Farmers Planting More Corn, Soybeans, Cotton

NASHVILLE, Tenn. – The U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) released its Acreage and Grain Stocks reports today, based on the June Area and June Agricultural Surveys conducted earlier this month. “Tennessee producers plan for increased acreages of corn, soybeans, cotton and hay in 2018,” said Debra Kenerson, Tennessee State Statistician. “All types of tobacco acreages are expected to decline, with burley taking the largest impact, decreasing 3,000 acres from 2017 and even showing a 500-acre decrease from producers’ March 2018 expectations.” Continue reading at June 29 Acreage Report.

Corn, cotton, and soybeans were down; wheat was mixed for the week. For one day, weather and trade took a temporarily back seat for corn, soy-bean, cotton, and wheat markets as today’s focus was the release of two USDA reports – the Acreage and Grain Stocks. Markets reacted quickly with cotton, wheat, and corn up for the day and soybeans down. Highlights of the reports included: Corn acres planted in 2018 were estimated at 89.128 million acres, down 1.039 million from 2017 and up 1.102 million acres from the March 2018 Prospective Planting report. The increase from the Prospective Planting report was expected as strong corn prices and good weather during the planting season brought in additional corn acres. Continue reading at Tennessee Market Highlights.

The annual Mid-South Agricultural Finance Conference is scheduled for August 8 on the campus of UT Martin in the Ed Boling University Center. The Mid-South Agricultural Finance Conference serves the lender/producer team by providing the most up-to-date and relevant information needed to grow farm operations’ bottom lines. The mission of the conference is to deliver high-quality, timely, and practical financial tools and economic information to Mid-South lenders and producers. Toward that end, the conference hosts the most renowned and respected agricultural finance and economic experts in the U.S. Registration information can be found at Mid-South Ag Finance Conference. A  special Financial & Management Boot Camp workshop will be held the day before on August 7.  Information on this pre-conference event can be found at Financial & Management Boot Camp.  Make plans to attend these informative sessions.  The agenda for the conference is listed below. Early registration by July 6 is encouraged, after July 6 registration goes up $25. Continue reading →

CROPS IN GOOD CONDITION; ADDITIONAL RAINS STILL NEEDED

Timely showers in some areas allowed both crop progress and condition to flourish. Additional rains are still needed to stimulate pasture growth and to aid producers in making progress in planting soybeans behind wheat harvest. There were 4.8 days suitable for field work. Topsoil moisture was 1 percent very short, 15 percent short, 74 percent adequate, and 10 percent surplus. Subsoil moisture was 1 percent very short, 13 percent short, 76 percent adequate, and 10 percent surplus. Continue reading at  TN_06_25_18.   The U.S. Crop Progress report can be read at CropProg-06-25-2018.

Corn, cotton, soybeans, and wheat were down for the week. Early this week commodity prices continued the three week sell off before stabilizing by the end of the week. From June 1, corn, soybean, wheat, and cotton harvest futures are down 35 ½, 118 ½, 33 ¼, and 6 .32 cents. The decrease in prices have been sudden and deep. The reasons for the decline are three fold 1) great growing conditions to date; 2) the escalation of trade tensions with China and other countries; and 3) the liquidation of long positions in corn and soybeans by investment money. All three are intertwined in the price decline as without 1 and 2, 3 wouldn’t have occurred (or would at the least been muted to a large extent. Continue reading at Tennessee Market Highlights.