If you managed to get a good stand of wheat, make sure you scout closely for aphids. There’s a good bet we will have more aphids than usual this fall because of the warm weather. It you are managing for high yielding wheat, then protecting wheat from transmission of barley yellow dwarf virus (BYD) is important. Below are a couple of points to consider. Continue reading
CONTINUED DRY CONDITIONS CAUSE WORRIES
The trace of rain received last week was not enough to relieve dry conditions that have dominated the State for months. Pasture conditions continued to decline and many producers are having to feed hay and haul water for their livestock. Wheat farmers who have already planted are worried about their crops, while those who have not planted are waiting for more favorable conditions. On a brighter note, the dry conditions have helped with soybean and cotton harvests. There were 6.9 days suitable for field work. Topsoil moisture was 42 percent very short, 36 percent short, 21 percent adequate, and 1 percent surplus. Subsoil moisture levels were 37 percent very short, 39 percent short, and 24 percent adequate. Continue reading Tennessee NASS report at tn_10_31_16. The U.S. Crop Progress report can be read at cropprog-10-31-2016.
Corn: December corn futures ended the week $0.04 higher than where it began on Monday morning. Harvest is continuing at a very strong pace due to dry harvest conditions. Farmers across the Midwest continue to report large yields. The expectations of a very large corn crop is bearish for corn futures. However, corn futures increased this week by riding the coattails of the soybean market. In West Tennessee, the local basis on cash bids for corn increased by $0.04 this week. Export demand continues to remain strong and contributed to the increase in basis that we have seen this week in West Tennessee. Continue reading
Corn, cotton, and soybeans were up; wheat was down for the week. Compared to last year at this time December corn futures are 20-30 cents lower, November soybean futures are 80-125 cents higher, December cotton futures are 5-8 cents higher, and July wheat futures are 40-60 cents lower. Global production of corn, soybeans, and wheat are projected to be at alltime highs for the 2016/17 marketing year, however, so is global consumption of all three commodities. Continue reading at Tennessee Market Highlights .
Many producers have struggled to completely pay the last two years’ financial obligation and had to extend them forward in their financial plan. They are not only working to satisfy this year’s cash flow but have to also account for previous year’s shortfall or at least some amortized version of those shortfalls.
Will yields and prices be enough to put producers back into the positive side of their cash flow? Discussions and review of producer’s operations prior to harvest indicated that it was going to be close. Continue reading at Southeast Farm Press.
DRY CONDITIONS PERSIST OVER MOST OF THE STATE
Though the State received light and scattered showers last week, it was not enough to relieve dry conditions that have stressed most of the State for months. Pastures are predominately parched and producers are still feeding hay and hauling water, causing deep concerns about shortages heading into the winter months. The dry conditions have helped farmers get their row crops out of the field but are all but halting winter wheat seedings. Continue reading Tennessee NASS report at tn_10_24_16. The U.S. Crop Progress report can be read at cropprog-10-24-2016.
Corn: December corn futures ended the week one penny lower than where it began on Monday morning. This week has been light as far as trading news goes for the grains. Last week, the USDA released their latest estimate on the global supply of all commodities along with the projected demand for all commodities. Harvest is advancing across most of the Midwest. As we begin to get a better feel on the overall size of the corn crop, we can expect to see the market reflect the yield data into future prices. Basis for corn is starting to weaken as the new supplies from harvest are hitting the supply chain. Futures have been increasing since August. Continue reading
Corn, cotton, and wheat were down; soybeans were up for the week. December corn traded mostly sideways for the week in a 10 cent range ($3.50- $3.60). Since the contract low of $3.14 3/4 on August 31, corn prices are up almost 40 cents. Strong global demand and reduced yield estimates (the national average will still be a record) have helped to provide support for corn prices. As we move through the remainder of harvest, futures prices will likely trade between $3.40 and $3.70. Continue reading at Tennessee Market Highlights.