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

This week nearby contracts for corn ($3.61) and wheat ($4.27) set new six
month contract lows before rallying mid-week to close up for the week – as at the close of business on Thursday. Marketing year exports continue to lag well behind the pace required to meet USDA 2018/19 marketing year export  projections. Strong competition for export markets for wheat (Russia and the EU) and corn (Brazil and Ukraine) continue to persist. Stocks of wheat and corn are projected to reduce compared to the previous marketing year, however they remain near record large. Low global prices will continue to persist barring a weather event that constricts global grain production and further reduces stocks. Continue reading at Tennessee Market Highlights.

Authors: A. Shekoofa, S. Safikhan, T. Raper, and S. Butler

 For those that have cover crops, you’re likely contemplating when to terminate.  While delayed termination can increase the amount of biomass produced and prolong the length of time that biomass remains in the system, delayed termination can also bring a few challenges- one of which is allelopathic impacts on our cash crop.  This article highlights recent research at the University of Tennessee examining how termination timing might allow us to harness these chemicals for weed suppression while minimizing the impacts on our cash crop (Fig. 1).

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

On Friday, the USDA released the March WASDE report. The report was not expected to make any major revisions to domestic balance sheets for corn, cotton, soybeans, and wheat. The report met this expectation by making small modifications to corn exports and ethanol use (down 75 and 25 million bushels), soybean crush (up 10 million bushels), cotton (decreased season average farm price by 2 cents per lb), and wheat decreases for food use and exports (5 and 35 million bushels). Details of the report for corn, cotton, soybeans, and wheat are available online at Tennessee Monthly Comments and Profitability Update. Continue reading weekly comments at Tennessee Market Highlights.

The Boll Weevil referendum is March 11-22. Dr. Scott Stewart provides more details in this week’s Call of the Week. Click to listen.

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

Prices for grains and oilseeds were down across the board as low exports
remain a major concern in grain markets. As of February 22,  accumulated exports of corn, soybeans and wheat were 5% above, 25% below, and 15% below the five year average for this week in the marketing year. Similarly, total export commitments (accumulated exports plus outstanding sales) as a percent of total projected USDA marketing exports were: corn – 64% (5-year average of 71%), soybeans -76% (5-year average of 89%), and wheat – 81% (5-year average of 94%). The longer exports lag projections the more worries about higher domestic stocks will weigh on markets. Continue reading at Tennessee Market Highlights.