Soybeans and wheat were up; cotton was down; and corn was mixed for the week. This past week planting conditions have been excellent throughout most of the Mid-south and Corn Belt states. While this is good news for producers, it is important to remember that planting progress is largely uncorrelated with final yields. Weather moving forward will have the ultimate say in determining final 2015 yields. Continue reading at Tennessee Market Highlights.
Cotton was up; corn was down; and Soybeans and wheat were mixed for the week. This week, December 2015 corn futures established new lows for 2015. The December 2015 corn contract low was $3.64/bu set back on Oct 1, 2014. Despite strong export sales this week, USDA estimated corn exports still lag behind the needed pace to meet their marketing year estimates. Reduced export sales could push 2014-15 marketing year ending stocks close to 2 billion bushels (currently estimated at 1.8 billion) and continue to provide downward price pressure. Corn planting progress is a story of two regions. Continue reading at Tennessee Market Highlights.
Cotton was up; corn was down; and Soybeans and wheat were mixed for the week. This week, December 2015 corn futures established new lows for 2015. The December 2015 corn contract low was $3.64/bu set back on Oct 1, 2014. Despite strong export sales this week, USDA estimated corn exports still lag behind the needed pace to meet their marketing year estimates. Reduced export sales could push 2014-15 marketing year ending stocks close to 2 billion bushels (currently estimated at 1.8 billion) and continue to provide downward price pressure. Continue reading at Tennessee Market Highlights.
Corn and soybeans were up; cotton and wheat were down for the week. 2015 harvest corn and soybean futures have traded in a reasonably consistent range for most of 2015. December corn futures have traded from $3.92 to $4.32, while November soybeans have traded from $9.33 to $10.31. Both commodities were at the high end of the range to start January and have subsequently moved lower as we have progressed through 2015. At this point in the marketing year, it is unlikely that we will get back to those early year highs unless a weather event occurs. Continue reading at Tennessee Market Highlights.
Cotton was up; corn, soybeans, and wheat were down for the week. Currently, two major obstacles exists that will prevent sustained price rallies for grains, oilseeds, and cotton. First, global and domestic stocks of corn, soybeans, cotton, and wheat are at or near record levels. Second, the strength of the US dollar will continue to reduce the competitiveness of US agricultural products in the global market place, thus reducing the potential for US exports. Continue reading at Tennessee Market Highlights.
Projected corn ending stocks are raised 50 million bushels with a reduction in expected feed and residual use reflecting December-February disappearance as indicated by March 1 stocks. The projected range for the corn season-average farm price is narrowed 5 cents on each end to $3.55 to $3.85 per bushel. Continue reading at Dr. Aaron Smith’s comments on April 10th USDA report.
Soybeans and wheat were up, corn was down, and cotton was mixed for the week. On March 31st the USDA released its Prospective Plantings and Quar-terly Grain Stocks reports, highlights of the reports include: Nationally, 2015 planted acreage was estimated at: 89.2 million acres of corn, down 2% from 2014; 84.6 million acres of soybeans, up 1% from 2014; 55.4 million acres of wheat, down 3%; 9.5 million acres of cotton, down 13%; and 7.9 million acres of sorghum, up 11%. Continue reading at Tennessee Market Highlights.
On Tuesday March 31st, the USDA released their Prospective Plantings and Quarterly Grain Stocks reports. Below are the futures market reaction and a summary of the reports for corn, soybeans, cotton and wheat for the U.S. and Tennessee. Continue reading at 2015 Prospective Plantings and Quarterly Grain Stocks Report Summary.