Corn was down last week with Greenville cash corn currently trading $0.04 lower than a week ago and $0.36 lower than a year ago at $3.34/bu on Friday. December futures contracts are $0.04 lower on the week at $3.37/bu. Harvest is progressing well in Mississippi with 91% of the state’s corn crop harvested, slightly last year’s pace and ahead of the 5-year average of 90%. Nationally, about 9% of the U.S. corn crop is harvested, on pace with a year ago and ahead of the five year average of 12%. Favorable growing conditions have the U.S. corn crop looking good with 74% of the crop rated in good or excellent condition.
Soybean are trading lower this week, with Greenville soybeans trading $0.21 lower at $9.96/bu on Friday. A year ago, Greenville soybeans were trading for $9.16/bu. Nearby September soybean futures are trading $0.14 lower than a week ago. Mississippi’s soybean crop development is slightly behind the 5-year average as well as a year ago with 34% of the crop harvested compared to 43% a year ago and a five year average of 35%. Mississippi’s soybean crop condition remained steady with 70% of the state’s crop rated in good or excellent condition. The U.S. soybean crop is just starting to be harvested with 4% of the crop in the bins compared to a 5-year average of 5%. Nationally, the soybean crop looks good overall with 73% of the nation’s soybean crop rated in good or excellent condition.
December wheat futures are down $0.01 from a week ago at $4.03 while Greenville wheat prices are down $0.01 on the week at $3.64/bu on Friday. The U.S. winter wheat crop is starting to go into the ground with 17% planted, slightly ahead of last year and the 5-year average of 16%.
Cotton prices finished the week lower with South Delta cash prices trading $1.14/cwt lower than a week ago at $67.24/cwt and $7.94/cwt higher than a year ago. Nearby cotton futures are higher with October cotton futures closing at $67.74, down $1.14/cwt from last week. Mississippi producers currently have about 4% of the state’s cotton crop harvested, behind a year ago and the 5-year average of 6%. This week 60% of Mississippi’s cotton crop is rated in good or excellent condition while 48% of the U.S. crop is in good or excellent condition. Nationally, 6% of the cotton crop is harvested, slightly ahead of the 5-year average of 7%.
For more detail on crop futures and Mississippi local cash prices click here.