Corn is lower this week with Greenville cash corn currently trading $0.01 lower than a week ago and $0.18 higher than a year ago at $3.98/bu on Friday. July futures contracts are $0.04 higher on the week at $3.95/bu. Mississippi producers have 98% of the state’s corn crop in the ground, in line with last year’s pace and slightly behind the 5-year average of 99%. Mississippi’s corn crop looks good so far this year with 69% of the state’s crop rated in good or excellent condition. Favorable planting conditions have put U.S. producers ahead of average, with 86% of the U.S. corn crop in the ground compared to a 5-year average of 85%.
Soybean markets are trading higher this week, with Greenville soybeans trading $0.07 higher at $10.64/bu on Friday. A year ago, Greenville soybeans were trading for $9.66/bu. Nearby July soybean futures are trading $0.09 higher than a week ago. Mississippi producers are ahead of the normal planting pace on soybeans with 82% of the state’s crop in the ground compared to a 5-year average of 74%. Producers across the U.S. are slightly ahead of schedule in planting soybeans with 56% of the crop in the ground nationally compared to a 5-year average of 52%.
July wheat futures are down $0.07 from a week ago at $4.68 while Greenville wheat prices are also down $0.06 on the week at $4.44/bu on Friday. A year ago, Greenville cash wheat was selling for $5.23/bu. Mississippi’s wheat crop is in mixed condition so far this year with 10% rated poor or very poor and 50% rated good or excellent. So far about 95% of the state’s wheat crop is headed out, slightly behind the 5-year average of 99%. Nationally, the wheat crop is in relatively good condition with 62% of the U.S crop rated good or excellent, much better than last year when 45% of the U.S. crop was rated good or excellent.
Cotton prices finished the week higher with South Delta cash prices trading $1.05/cwt higher than a week ago at $61.92/cwt and $0.73/cwt lower than a year ago. Nearby cotton futures are lower with July Cotton futures closing at $61.67, down $1.05/cwt from last week. Mississippi producers have currently planted about 81% of the state’s cotton crop, slightly ahead of a year ago and ahead of the 5-year average of 71%. Nationally, 46% of the cotton crop has been planted, behind the 5-year average of 54%.
For more detail on crop futures and Mississippi local cash prices click here.
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