Released: November 9, 2017

November 1 Tennessee Crop Production Forecast

Corn production in Tennessee is forecast at 121 million bushels, up 1 percent from the October forecast but down 4 percent from the previous crop. Yield was estimated at 171.0 bushels per acre, up 1.0 bushel from last month and up 20.0 bushels from the 2016 level. Acres for harvest as grain were estimated at 705,000 acres, down 125,000 acres from 2016. The U.S. corn production is forecast at 14.6 billion bushels, up 2 percent from the October forecast but down 4 percent from 2016. Based on conditions as of November 1, yields are expected to average 175.4 bushels per acre, up 3.6 bushels from last month and up 0.8 bushel from 2016. Area harvested for grain is forecast at 83.1 million acres, unchanged from the October forecast and down 4 percent from 2016. Continue reading at NovCrop17_TN.

RAIN CONTINUES TO DELAY HARVEST

Rain continued to delay harvest of field crops, leaving producers hoping for drier conditions. These same rains gave a boost to pasture and forage conditions, making livestock producers optimistic about winter feed supplies. There were 3.6 days suitable for field work, down from 4.4 the previous week. Topsoil moisture was 1 percent very short, 6 percent short, 75 percent adequate, and 18 percent surplus. Subsoil moisture was 2 percent very short, 10 percent short, 80 percent adequate and 8 percent surplus.  Continue reading at TN_11_06_17. The U.S. Crop Progress report can be read at CropProg-11-06-2017.

Cotton was up; wheat was down; and corn and soybeans were mixed for the week.

For the month of October, December 2017 corn futures traded mostly flat opening at $3.54 ¾ and closing at $3.45 ¾, down 9 cents. Better than projected national yields have increased supply estimates and will likely keep cash prices in Tennessee well under $4.00 for the remainder of 2017. However, a 10 to 40 cent seasonal price appreciation in most locations should be realized as we move towards the New Year. Continue reading at Tennessee Market Highlights.

For farmers including Tennessee’s farmers to grow crops, they need good – or at least decent  weather, including nourishing rain. But sometimes producers must deal with water deficit and drought (especially in West Tennessee, approximately 95% of soybean production is rainfed). If so why not go for a variety that still can survive, still can give you the benefits of growth and yield compared to the one that after a while is gone, the one cannot handle the drought conditions.

RAIN LAST WEEK IMPROVED PASTURE CONDITION; DELAYED HARVEST 

Livestock producers got a boost in the form of improved pastures as rains fell across the State last week. This, along with ample hay supplies, have producers optimistic about feed supplies going into winter. The rain delayed harvest of field crops but improved both topsoil and subsoil moisture. There were 4.4 days suitable for field work, down from 6.1 the previous week. Topsoil moisture was 1 percent very short, 7 percent short, 84
percent adequate, and 8 percent surplus. Subsoil moisture was 3 percent very short, 21 percent short, 71 percent adequate and 5 percent surplus. Continue reading at TN_10_29_17. The U.S. Crop Progress report can be read at  CropProg-10-30-2017.

Corn, cotton, and wheat were up; soybeans were down for the week.

This week the U.S. dollar (USD) continued to strengthen. On September 8,
the USD index (Dec futures) set a one year low at 90.795, since then the USD
index has strengthened 4.4%. A strengthening USD provides headwinds for
agricultural exports. Continue reading at Tennessee Market Highlights.

Corn: For the week, corn futures traded $0.05 higher. Corn futures have traded mostly sideways since we have entered into harvest season. Corn prices continue to receive bearish news in the form of larger ending stocks and a stronger dollar. Large global supplies will be a hindrance to higher corn prices for the foreseeable future. Unfortunately, a higher dollar is making U.S. corn less competitive in the export market. This week, the USDA rated the corn crop as being 66% good-to-excellent with 38% of the crop already harvested. Continue reading →