Corn: Yesterday the USDA released the June 30^th stocks and acreage report. This report contained a few surprises for all commodity markets. First off, ending stocks for corn totaled 4.72 billion bushels as of June 1^st. That is a 6% increase over ending stocks as of June 1, 2015. The report also indicated that 3.10 billion bushels of corn was used between March and May 2016. For the same time frame in 2015, corn usage was 3.30 billion bushels. Therefore, the June 30^th report indicated that corn stocks are higher than  last year’s levels along with corn usage being slightly lower.   Continue reading →

Corn and wheat were down; soybeans and cotton were up for the week. For the month of June, December corn closed down 41 cents at $3.67/bu. The December contract high, in June, was $4.49/bu occurring on June 17th, the low was $3.65/bu occurring on June 30th. Continue reading at Tennessee Market Highlights.

USDA Acreage and Quarterly Grain Stocks Reports

June 30, 2016

Aaron Smith and Chuck Danehower

Department of Agricultural & Resource Economics, University of Tennessee Extension

Market Reaction

On Thursday June 30th corn prices received a double hit as both the Stocks and Acreage reports provided greater estimates than anticipated, precipitating an immediate 15 cent drop in corn futures. Soybean futures reacted very positively (up 40+ cents) to the reports. Soybean acreage was up but not as much as some pre report estimates and stocks, while up from last year, still indicate excellent demand. Additionally, the report removed some uncertainty for soybean bulls that were perhaps concerned about a report surprise. Continue reading at USDA Acreage and Grain Stocks Reports. A profitability update is also included.

Cotton Acreage Rebounds

Soybeans planted in Tennessee were estimated at 1.75 million acres, unchanged from 2015. Acres harvested for grain, at 1.72 million acres, were also unchanged from a year ago. U.S. soybean planted area for 2016 was estimated at 83.7 million acres, up 1 percent from last year. Area for harvest, at 83.0 million acres, is up 1 percent from 2015.  Continue reading at JUNACR16_TN.

Good article which also applies to Tennessee producers.

Author: Arkansas Row Crops
By Nathan Slaton, Rick Norman, Trent Roberts, Jason Kelley, Jarrod Hardke, Bill Robertson, Jeremy Ross and Leo Espinoza; University of Arkansas System Division of Agriculture.

Farmers must ask at least two fundamental questions about every product they are asked to purchase and apply to their crop: What is the frequency of crop response and what is the average yield increase? The answers to these two questions should be based on an adequate amount of unbiased, reputable research. With such a large number of crop yield enhancing products and nutrient solutions formulated for foliar application available there is no way that each product can be thoroughly researched by university scientists. For the record, let’s establish that there is not a university scientist alive that does not want to discover or recommend farming practices and products that enhance grower yields and profits. Continue reading at Arkansas Row Crops.

RAIN NEEDED STATEWIDE

Hot and dry conditions in East Tennessee, combined with little rain, resulted in water shortages in ponds, creeks, and springs. Pastures continued to suffer and accelerated producer concerns that cattle will have to be fed more hay. Lack of rain stressed crops in West Tennessee, where, nonetheless, wheat harvest was wrapping up with better than average yields. Continue reading the Tennessee Crop Progress at TN_06_27_16. The U.S. Crop Progress report can be read at  CropProg-06-27-2016.