Corn is higher this week with Greenville cash corn currently trading $0.16 higher than a week ago and $0.16 higher than a year ago at $4.00/bu on Friday. May futures contracts are also $0.18 higher on the week at $3.90/bu. Mississippi producers have 89% of the state’s corn crop in the ground, slightly ahead of last year’s pace but in line with the 5-year average of 89%. Mississippi’s corn crop looks good so far this year with 62% of the state’s crop rated in good or excellent condition. Favorable planting conditions have put U.S. producers well ahead of average, with 45% of the U.S. corn crop in the ground compared to a 5-year average of 30%.
Soybean markets are trading higher this week, with Greenville soybeans trading $0.33 higher at $10.27/bu on Friday. A year ago, Greenville soybeans were trading for $10.14/bu. Nearby May soybean futures are trading $0.34 higher than a week ago. Mississippi producers are ahead of the normal planting pace on soybeans with 46% of the state’s crop in the ground compared to a 5-year average of 37%. Producers across the U.S. are slightly ahead of average in planting soybeans with 8% of the crop in the ground nationally compared to a 5-year average of 6%.
May wheat futures are up $0.11 from a week ago at $4.78 while Greenville wheat prices are also up $0.12 on the week at $4.64/bu on Friday. A year ago, Greenville cash wheat was selling for $4.82/bu. Mississippi’s wheat crop is in mixed condition so far this year with 12% rated poor or very poor and 48% rated good or excellent. So far about 75% of the state’s wheat crop is headed out, slightly behind the 5-year average of 79%. Nationally, the wheat crop is in relatively good condition with 61% of the U.S crop rated good or excellent, much better than last year when 43% of the U.S. crop was rated good or excellent.
Cotton prices finished the week down slightly with South Delta cash prices trading $0.17/cwt higher than a week ago at $64.02/cwt and $1.57/cwt lower than a year ago. Nearby cotton futures are higher with May Cotton futures closing at $63.76, up $0.68/cwt from last week. Mississippi producers have currently planted about 21% of the state’s cotton crop, well ahead of a year ago and ahead of the 5-year average of 16%. Nationally, 16% of the cotton crop has been planted compared to a 5-year average of 18%.
For more detail on crop futures and Mississippi local cash prices click here.