Corn was up last week with Greenville cash corn currently trading $0.16 higher than a week ago and $0.33 lower than a year ago at $3.49/bu on Friday. December futures contracts are $0.14 higehr on the week at $3.54/bu. Nationally, about 46% of the U.S. corn crop is harvested, behind a year ago and behind the five year average of 49%. Favorable growing conditions this summer have the U.S. corn crop looking good with 74% of the crop rated in good or excellent condition compared to 68% a year ago.
Soybean are trading lower this week, with Greenville soybeans trading $0.08 lower at $9.52/bu on Friday. A year ago, Greenville soybeans were trading for $9.23/bu. Nearby November soybean futures are trading $0.06 higher than a week ago. Mississippi’s soybean harvest is ahead of the 5-year average as well as a year ago with 87% of the crop harvested compared to 83% a year ago and a five year average of 82%. The U.S. soybean harvest is right on pace with 62% of the crop harvested compared to a 5-year average of 63%. Nationally, the soybean crop looks good overall with 74% of the nation’s soybean crop rated in good or excellent condition.
December wheat futures are up $0.26 from a week ago at $4.21 while Greenville wheat prices are also up $0.26 on the week at $3.81/bu on Friday. The U.S. winter wheat crop is progressing well with 72% planted, slightly behind last year and the 5-year average of 73%.
Cotton prices finished the week higher with South Delta cash prices trading $2.49/cwt higher than a week ago at $70.07/cwt and $6.97/cwt higher than a year ago. Nearby cotton futures are higher with December cotton futures closing at $70.57, up $3.59/cwt from last week. Mississippi producers currently have about 69% of the state’s cotton crop harvested, ahead of a year ago and the 5-year average of 57%. Nationally, 30% of the cotton crop is harvested, slightly ahead of the 5-year average of 27%.
For more detail on crop futures and Mississippi local cash prices click here.
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