Tag: Crop Markets

Corn was up slightly last week with Greenville cash corn currently trading $0.15 higher than a week ago and $0.16 lower than a year ago at $3.60/bu on Friday. September futures contracts are unchanged on the week at $3.35/bu. Mississippi producers have 72% of the state’s corn crop denting, ahead of last year’s pace and slightly behind the 5-year average of 76%. Mississippi’s corn crop condition improves slightly with 64% of the state’s crop rated in good or excellent condition. Nationally, about 30% of the U.S. corn crop is in the dough state, ahead of a year ago as well as the five year average. Favorable growing conditions have the U.S. corn crop looking good with 76% of the crop rated in good or excellent condition.

Soybean markets are trading higher this week, with Greenville soybeans trading $0.26 higher at $10.33/bu on Friday. A year ago, Greenville soybeans were trading for $9.55/bu. Nearby August soybean futures are trading $0.26 lower than a week ago. Mississippi’s soybean crop development is slightly ahead of the 5-year average as well as ahead of a year ago with 79% of the crop setting pods compared to 72% a year ago and a five year average of 70%. Mississippi’s soybean crop condition improved some with 70% of the state’s crop rated in good or excellent condition. The U.S. soybean crop is ahead of schedule with 54% of the crop setting pods compared to a 5-year average of 44%. Nationally, the soybean crop looks good overall with 72% of the nation’s soybean crop rated in good or excellent condition.

September wheat futures are down $0.18 from a week ago at $4.08 while Greenville wheat prices are down $0.32 on the week at $3.73/bu on Friday, the lowest price in more than seven years. The U.S. winter wheat harvest is slightly ahead of schedule with 89% of the U.S. wheat crop harvested compared to a 5-year average of 86%. The U.S. spring wheat crop is rated 68% good or excellent condition, slightly worse than last year when the crop was rated 70% good or excellent.

Cotton prices finished the week higher with South Delta cash prices trading $1.64/cwt higher than a week ago at $73.66/cwt and $11.90/cwt higher than a year ago. Nearby cotton futures are lower with October cotton futures closing at $74.16, up $1.64/cwt from last week. Mississippi producers currently have about 78% of the state’s cotton crop setting bolls, right on pace with a year ago and the 5-year average of 78%. This week 57% of Mississippi’s cotton crop is rated in good or excellent condition while 50% of the U.S. crop is in good or excellent condition. Nationally, 54% of the cotton crop is setting bolls, slightly behind the 5-year average of 57%.

For more detail on crop futures and Mississippi local cash prices click here.

Corn is down this week with Greenville cash corn currently trading $0.17 lower than a week ago and $0.58 lower than a year ago at $3.45/bu on Friday. September futures contracts are $0.17 lower on the week at $3.35/bu. Mississippi producers have 60% of the state’s corn crop denting, ahead of last year’s pace and right at the 5-year average of 60%. Mississippi’s corn crop condition remains steady with 61% of the state’s crop rated in good or excellent condition. Nationally, about 13% of the U.S. corn crop is in the dough state, right on pace with a year ago as well as the five year average. Favorable growing conditions have the U.S. corn crop looking good with 76% of the crop rated in good or excellent condition.

Soybean markets are trading lower this week, with Greenville soybeans trading $0.66 lower at $10.07/bu on Friday. A year ago, Greenville soybeans were trading for $10.06/bu. Nearby August soybean futures are trading $0.66 lower than a week ago. Mississippi’s soybean crop development is slightly ahead of the 5-year average as well as ahead of a year ago with 65% of the crop setting pods compared to 59% a year ago and a five year average of 60%. Mississippi’s soybean crop condition is steady with 65% of the state’s crop rated in good or excellent condition. The U.S. soybean crop is ahead of schedule with 35% of the crop setting pods compared to a 5-year average of 26%. Nationally, the soybean crop looks good overall with 71% of the nation’s soybean crop rated in good or excellent condition.

September wheat futures are up $0.01 from a week ago at $4.25 while Greenville wheat prices are unchanged on the week at $4.05/bu on Friday. The U.S. winter wheat harvest is slightly ahead of schedule with 83% of the U.S. wheat crop harvested compared to a 5-year average of 79%. The U.S. spring wheat crop is rated 73% good or excellent condition, slightly better than last year when the crop was rated 69% good or excellent.

Cotton prices finished the week lower with South Delta cash prices trading $1.34/cwt lower than a week ago at $72.02/cwt and $8.43/cwt higher than a year ago. Nearby cotton futures are lower with October cotton futures closing at $72.52, down $1.34/cwt from last week. Mississippi producers currently have about 72% of the state’s cotton crop setting bolls, ahead of a year ago and ahead of the 5-year average of 64%. This week 55% of Mississippi’s cotton crop is rated in good or excellent condition while 52% of the U.S. crop is in good or excellent condition. Nationally, 46% of the cotton crop is setting bolls, slightly ahead of the 5-year average of 43%.

For more detail on crop futures and Mississippi local cash prices click here.

The United States Department of Agriculture’s National Agricultural Statistics Service (USDA, NASS) released its June 30 Acreage Report and the Quarterly Grain Stocks Report Thursday morning (June 30, 2016). Corn acres planted in the U.S. were revised up by more than 500,000 acres from March’s prospective plantings report with 94.148 million acres of corn estimated to have been planted this spring. Pre-report estimates were expecting a decrease in planted aces with an average expectation of 92.9 million acres. The USDA estimate came in higher than even the highest analyst expectation. Mississippi producers are estimated to have planted 720,000 acres of corn this year, a 41% increase from a year ago but about 80,000 acres fewer than the March estimate. Corn stocks on June 1 totaled 4.72 billion bushels, a 6% increase from a year ago and well above pre-report expectations of 4.528 billion bushels.

Soybean acres were also revised up by just over 800,000 acres from March’s estimates with U.S. producers estimated to have planted 83.037 million acres of soybeans. This came in well below the average pre-report estimate, but was still well within the range of expectations. Mississippi producers are estimated to have planted 2.05 million acres of soybeans this year, an 11% decrease from a year ago but about 50,000 acres more than the March estimate. Soybean stocks on June 1 totaled 870 million bushels, a 39% increase from a year ago and again well above pre-report expectations of 829 million bushels.

Wheat acres were also revised up by more than 1.2 million acres from March’s estimates with U.S. producers estimated to have planted 50.816 million acres of wheat. This came in well above the average pre-report estimate, but was still well within the range of expectations. Mississippi producers are estimated to have planted 80,000 acres of wheat this year, a 47% decrease from a year ago and 10,000 fewer acres than the March estimate. Wheat stocks on June 1 totaled 981 million bushels, a 30% increase from a year ago and very close to expectations.

Cotton acres were revised up by 461,000 acres from March’s estimates with U.S. producers estimated to have planted 10.023 million acres of cotton, a 17% increase from a year ago. Mississippi producers are estimated to have planted 450,000 acres of cotton this year, a 41% increase from a year ago and unchanged from the March estimate.

Rice acres were revised up by 148,000 acres from March’s estimates with U.S. producers estimated to have planted 3.212 million acres of rice, a 23% increase from a year ago. Mississippi producers are estimated to have planted 200,000 acres of rice this year, a 33% increase from a year ago and 20,000 fewer acres than the March estimate.

Corn is down sharply this week with Greenville cash corn currently trading $0.53 lower than a week ago and $0.15 lower than a year ago at $3.93/bu on Friday. July futures contracts are $0.53 lower on the week at $3.85/bu. Mississippi producers have 85% of the state’s corn crop silking, ahead of last year’s pace and ahead of the 5-year average of 78%. Mississippi’s corn crop condition remains steady with 64% of the state’s crop rated in good or excellent condition. Favorable growing conditions have the U.S. corn crop looking good with 75% of the crop rated in good or excellent condition.

Soybean markets are trading lower this week, with Greenville soybeans trading $0.57 lower at $10.95/bu on Friday. A year ago, Greenville soybeans were trading for $10.32/bu. Nearby July soybean futures are trading $0.51 lower than a week ago. Mississippi’s soybean crop condition is steady with 66% of the state’s crop rated in good or excellent condition, a 1% decrease from last week. The U.S. soybean crop looks good overall with 72% of the nation’s soybean crop rated in good or excellent condition.

July wheat futures are down $0.27 from a week ago at $4.54 while Greenville wheat prices are also down $0.26 on the week at $4.45/bu on Friday. A year ago, Greenville cash wheat was selling for $5.52/bu. Mississippi’s wheat harvest is wrapping up with 95% of the state’s wheat crop harvested, right at last year’s pace and the 5-year average of 95%. 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 41% of the U.S. crop was rated good or excellent. The U.S. winter wheat harvest is slightly ahead of schedule with 45% of the U.S. wheat crop harvested compared to a 5-year average of 41%.

Cotton prices finished the week lower with South Delta cash prices trading $1.42/cwt lower than a week ago at $64.33/cwt and $1.63/cwt lower than a year ago. Nearby cotton futures are lower with July Cotton futures closing at $64.50, down $0.07/cwt from last week. Mississippi producers currently have about 54% of the state’s cotton crop squaring, ahead of a year ago and ahead of the 5-year average of 51%. This week 57% of Mississippi’s cotton crop is rated in good or excellent condition while 56% of the U.S. crop is in good or excellent condition. Nationally, 29% of the cotton crop is squaring, slightly behind the 5-year average of 33%.

For more detail on crop futures and Mississippi local cash prices click here.

Corn is higher this week with Greenville cash corn currently trading $0.15 higher than a week ago and $0.73 higher than a year ago at $4.46/bu on Friday. July futures contracts are $0.15 higher on the week at $4.38/bu. Mississippi producers have 71% of the state’s corn crop silking, ahead of last year’s pace and ahead of the 5-year average of 62%. Rains are improving Mississippi’s corn crop condition with 64% of the state’s crop rated in good or excellent condition, up 5% from last week. Favorable growing conditions have the U.S. corn crop looking good with 75% of the crop rated in good or excellent condition.

Soybean markets are trading lower this week, with Greenville soybeans trading $0.18 lower at $11.52/bu on Friday. A year ago, Greenville soybeans were trading for $9.83/bu. Nearby July soybean futures are trading $0.19 lower than a week ago. Mississippi’s soybean crop condition is also improving with 67% of the state’s crop rated in good or excellent condition, a 2% improvement from last week. Producers across the U.S. are slightly ahead of schedule in planting soybeans with 96% of the crop in the ground nationally compared to a 5-year average of 93%. The U.S. soybean crop looks good overall with 73% of the nation’s soybean crop rated in good or excellent condition.

July wheat futures are down $0.14 from a week ago at $4.81 while Greenville wheat prices are also down $0.14 on the week at $4.71/bu on Friday. A year ago, Greenville cash wheat was selling for $4.60/bu. Mississippi’s wheat crop is continuing to progress with 84% of the state’s wheat crop harvested, slightly behind last year’s pace and slightly ahead of the 5-year average of 82%. 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 41% of the U.S. crop was rated good or excellent. The U.S. winter wheat harvest is slightly behind schedule with 25% of the U.S. wheat crop harvested compared to a 5-year average of 28%.

Cotton prices finished the week higher with South Delta cash prices trading $0.75/cwt higher than a week ago at $65.00/cwt and $2.12/cwt higher than a year ago. Nearby cotton futures are lower with July Cotton futures closing at $64.75, up $0.18/cwt from last week while more distant futures contracts are all higher. Mississippi producers currently have about 35% of the state’s cotton crop squaring, ahead of a year ago and ahead of the 5-year average of 32%. This week 60% of Mississippi’s cotton crop is rated in good or excellent condition while 54% of the U.S. crop is in good or excellent condition. Nationally, 22% of the cotton crop is squaring, right on pace with the 5-year average of 21%.

For more detail on crop futures and Mississippi local cash prices click here.

Corn is higher this week with Greenville cash corn currently trading $0.12 higher than a week ago and $0.49 higher than a year ago at $4.33/bu on Friday. July futures contracts are $0.05 higher on the week at $4.18/bu. Mississippi producers have 21% of the state’s corn crop silking, ahead of last year’s pace and behind the 5-year average of 27%. Mississippi’s corn crop is showing some signs of stress with 62% of the state’s crop rated in good or excellent condition. Favorable growing conditions have the U.S. corn crop looking good with 75% of the crop rated in good or excellent condition.

Soybean markets are trading higher this week, with Greenville soybeans trading $0.45 higher at $11.24/bu on Friday. A year ago, Greenville soybeans were trading for $9.68/bu. Nearby July soybean futures are trading $0.45 higher than a week ago. Mississippi’s soybean crop is also showing some stress due to the dry conditions last week with just 64% of the state’s crop rated in good or excellent condition. Producers across the U.S. are slightly ahead of schedule in planting soybeans with 83% of the crop in the ground nationally compared to a 5-year average of 77%. The U.S. soybean crop looks good overall with 72% of the nation’s soybean crop rated in good or excellent condition

July wheat futures are up $0.15 from a week ago at $4.97 while Greenville wheat prices are also up $0.15 on the week at $4.97/bu on Friday. A year ago, Greenville cash wheat was selling for $5.34/bu. Mississippi’s wheat crop is in mixed condition so far this year with just 47% rated good or excellent. Harvest is underway in Mississippi with 17% of the state’s wheat crop harvested, well behind last year’s pace as well as the 5-year average of 39%. 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 43% of the U.S. crop was rated good or excellent.

Cotton prices finished the week lower with South Delta cash prices trading $0.36/cwt lower than a week ago at $64.17/cwt and $1.66/cwt higher than a year ago. Nearby cotton futures are lower with July Cotton futures closing at $63.92, down $0.36/cwt from last week. Mississippi producers have currently planted about 94% of the state’s cotton crop, slightly ahead of a year ago and ahead of the 5-year average of 93%. This week 55% of Mississippi’s cotton crop is rated in good or excellent condition. Nationally, 75% of the cotton crop has been planted, behind the 5-year average of 84%.

For more detail on crop futures and Mississippi local cash prices click here.

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.

The corn balance sheet for the 2015/16 crop saw a few changes in disappearance from the April release. Feed use was and ethanol were both left unchanged while exports were increased by 75 million bushels. Corn imports were increased by 5 million bushels while production was left unchanged for the 2015/16 crop. Ending stocks for the 2015/16 crop were estimated to be 1.803 billion bushels, down 59 million bushels from last month’s estimate. The first estimates for the 2016/17 crop year were also released. The USDA is projecting 93.6 million acres of corn to be planted this year, and of that 85.9 million acres are expected to be harvested. The planted acres number was also reported in the March 31 Prospective Plantings report while harvested acres are projected based on historical abandonment and silage harvest. Corn yield for the 2016/17 crop year is projected at 168 bu/acre and represents a weather-adjusted trend yield. If the acreage and yield hold true, U.S. producers are expected to produce a record 14.43 billion bushels of corn. This number comes in about 279 million bushels higher than the average trade expectation. Feed and residual use is expected to be about 300 million bushels higher in the 2016/17 crop year than a year ago, which is a reflection of increased production from beef, poultry, and pork. Ethanol use is expected to increase by 50 million bushels while exports are expected to be up 175 million bushels. Despite the year-over-year increase in demand in all major categories, 2016/17 ending stocks are expected to be 350 million bushels higher than the 2015/16 stocks at an estimated 2,153 million bushels. This comes in about 141 million bushels below the average trade expectation.

 The 2015/16 soybean balance sheet also a few changes from the April WASDE report. Soybean harvested acres and yields were left unchanged at 81.8 million acres and 48 bu/acre, respectively. Soybean crush was up 10 million bushels from a month ago while exports are up 35 million bushels from last month’s estimates. Ending stocks for 2015/16 were down 45 million bushels 400 million bushels. The USDA is projecting 82.7 million acres of soybeans to be planted this year, and of that 81.8 million acres are expected to be harvested. The planted acres number was also reported in the March 31 Prospective Plantings report while harvested acres are projected based on historical abandonment. Soybean yield for the 2016/17 crop year is projected at 46.7 bu/acre and represents a weather-adjusted trend yield. U.S. producers are expected to produce 3.8 billion bushels of soybeans. This number comes in very close to the average trade expectation. Soybean crush is expected to be about 35 million bushels higher in the 2016/17 crop year than a year ago, while exports are expected to be up 145 million bushels. With the year-over-year increase in demand in all major categories as well as slightly lower production, 2016/17 ending stocks are expected to be 95 million bushels lower than 2015/16 stocks at an estimated 305 million bushels. This comes in well below the 405 million bushels that traders were expecting.

 The 2015/16 wheat crop balance sheet saw only a few minor changes. Food use was lowered by 7 million bushels, while exports were increased by 5 million bushels. Ending stocks for wheat came in at 978 million bushels, up 2 million bushels from a month ago. The USDA is projecting 49.6 million acres of wheat to be planted this year, and of that 42.8 million acres are expected to be harvested. The planted acres number was also reported in the March 31 Prospective Plantings report while harvested acres are reported in the May USDA Crop Production Report. Wheat yield for the 2016/17 crop year is projected at 46.7 bu/acre and is also reported in the May USDA Crop Production Report. U.S. producers are expected to produce 1.998 billion bushels of wheat. This number comes in 17 million bushels below the average trade expectation. Wheat food use as well as seed use are both expected to be about 3 million bushels higher in the 2016/17 crop year than a year ago, while exports are expected to be up 95 million bushels. Wheat feed use is expected to be 30 million bushels higher. Despite the year-over-year increase in demand, 2016/17 ending stocks are expected to be 51 million bushels higher than 2015/16 stocks at an estimated 1.029 billion bushels. Mississippi yields are expected to be 55 bu/acre, up 7 bu/acre from a year ago, while production in the state is projected to be 1.91 million bushels lower at 3.85 million bushels.

 The cotton balance sheet saw a few minor revisions this month. Cotton production was up slightly at 12.89 million bales as a result of a slight increase in harvested acres. Domestic use was unchanged from last month, while exports were reduced by 500,000 bales. Ending stocks for 2015/16 are up 500,000 bales at 4 million bales. The USDA is projecting 9.56 million acres of cotton to be planted this year, and of that 8.8 million acres are expected to be harvested. The planted acres number was also reported in the March 31 Prospective Plantings report while harvested acres are projected based on historical abandonment. Cotton yield for the 2016/17 crop year is projected at 807 lbs/acre and represents a 3-year average weighted by region. U.S. producers are expected to produce 14.8 million bales of cotton, up 1.91 million bales from a year ago. Domestic cotton use is expected to be the same as a year ago, while exports are expected to be up 1.5 million bales. Cotton ending stocks are expected to be 700,000 bales higher than 2015/16 stocks at an estimated 4.7 million bales.

Corn is lower this week with Greenville cash corn currently trading $0.14 lower than a week ago and $0.01 lower than a year ago at $3.86/bu on Friday. July futures contracts are also $0.14 lower on the week at $3.78/bu. Mississippi producers have 94% 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 95%. 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 64% of the U.S. corn crop in the ground compared to a 5-year average of 50%.

Soybean markets are trading higher this week, with Greenville soybeans trading $0.45 higher at $10.72/bu on Friday. A year ago, Greenville soybeans were trading for $10.08/bu. Nearby July soybean futures are trading $0.05 higher than a week ago. Mississippi producers are ahead of the normal planting pace on soybeans with 57% of the state’s crop in the ground compared to a 5-year average of 50%. Producers across the U.S. are slightly ahead of schedule in planting soybeans with 23% of the crop in the ground nationally compared to a 5-year average of 16%.

July wheat futures are down $0.25 from a week ago at $4.64 while Greenville wheat prices are also down $0.25 on the week at $4.39/bu on Friday. A year ago, Greenville cash wheat was selling for $4.89/bu. Mississippi’s wheat crop is in mixed condition so far this year with 12% rated poor or very poor and 50% rated good or excellent. So far about 88% of the state’s wheat crop is headed out, slightly behind the 5-year average of 91%. 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 44% of the U.S. crop was rated good or excellent.

Cotton prices finished the week lower with South Delta cash prices trading $1.94/cwt lower than a week ago at $62.08/cwt and $2.28/cwt lower than a year ago. Nearby cotton futures are lower with July Cotton futures closing at $61.83, down $1.94/cwt from last week. Mississippi producers have currently planted about 35% of the state’s cotton crop, slightly behind a year ago and ahead of the 5-year average of 33%. Nationally, 26% of the cotton crop has been planted, right on pace with the 5-year average of 26%.

For more detail on crop futures and Mississippi local cash prices click here.

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.