FALL WEATHER CONTINUES TO CHALLENGE TENNESSEE FARMERS

Tennessee farmers took advantage of rare breaks in the wet weather last week to continue harvesting row crops, primarily soybeans. Not only are there crops to be harvested, producers are also planting winter wheat. There are reports of equipment getting stuck in muddy fields. To date, emerged winter wheat looks good. Cattle producers are starting to feed hay. There were 3.6 days suitable for fieldwork last week. Topsoil moisture rated 1 percent short, 57 percent adequate, and 42 percent surplus. Subsoil moisture rated 1 percent short, 60 percent adequate, and 39 percent surplus.  Continue reading at TN_11_26_18. The U.S. Crop Progress report can be read at CropProg-11-26-2018.  This is the last weekly Crop Progress report issued for the 2018 season. The first weekly report for 2019 will be released on Monday, April 1, 2019.

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

All four commodities were down across the board for an abbreviated Thanksgiving trading week. Limited news will emerge as we enter the Holiday trading season, however trade news will be closely monitored next week with the highly anticipated G20 summit. Agricultural markets will focus on any news from President Xi or Trump regarding tariffs and/or a resolution to the current trade disruption. As information is revealed anticipate further volatility in soybeans. Continue reading at Tennessee Market Highlights.

RAINS CONTINUE TO DELAY HARVEST

The rains that fell last week continued to keep farmers out of their fields and again delayed progress on the harvesting of soybeans and cotton. The excessive moisture has also caused quality issues with these crops. Wheat planting was also put on hold by the rains. There were 2.2 days suitable for fieldwork last week. Topsoil moisture rated 1 percent short, 42 percent adequate, and 57 percent surplus. Subsoil moisture rated 1 percent short, 45 percent adequate, and 54 percent surplus. Continue reading at TN_11_19_18.  The U.S. Crop Progress report can be read at CropProg-11-19-2018.

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

Since early October, March corn futures have traded between $3.70 and $3.90. Continued trading in this range seems likely as we move into December. Record U.S. yield and delays in the remaining harvest, due to adverse weather, continue to influence the market. Export sales pace will be watched closely as global stocks are projected to shrink for the second consecutive year.

January soybean futures have shown strength in recent weeks and are now approaching the upper end of the 3 month trading range of $8.25 to $9.05. A great deal of insecurity remains in soybean markets due to continued trade uncertainty. Markets will be looking for additional trade information leading up to a key meeting November 30 between President Trump and Xi. Continued volatility based on news reports and Twitter remains likely as we approach the meeting date. Continue reading at Tennessee Market Highlights.

Corn: December futures closed at $3.67, up only half a cent from the market open. For the week, corn futures have declined approximately two cents from the market’s open on Monday. The USDA’s latest World Agricultural Supply and Demand Estimate (WASDE) showed that ending stocks to continue to be drawn down due to steady demand for corn. Domestic consumption is estimated to be above 2016 and 2017 levels. However, the WASDE report did indicate that global corn production is expected to be higher due to increase production in China. Continue reading →

There has been an increasing amount of interest in Tennessee on raising industrial hemp. The Haywood County Extension office is sponsoring an Industrial Hemp Production meeting on November 29th, 6 p.m.  at the Haywood County Justice Complex, 100 South Dupree Avenue, Brownsville, TN.  Please see the attached flyer.