Last week the USDA reported 15.9 million bales of cotton production. This is down 1.1 million bales (350,000 tons of cottonseed) from the November report and 3.9 million bales (1,050,000 tons of cottonseed) less than last year. This was a surprise as the USDA had been maintaining a 17.0 Read More
Cottonseed prices are firm across all origins. Ginning is still struggling to begin. Gins are reporting disappointing yields on the first harvested cotton. Tropical Storm Zeta looks like it will make landfall Wednesday and push through the southern cotton belt where additional rain is not needed.
I don’t see any Read More
Cottonseed prices have surged higher at the East Coast, Delta and Texas regions. Soy meal is up another $5-7. Ginning is still delayed due to peanut harvest in the East and rain in the Delta. It appears the upper Mid-West dairies are buying clock cottonseed and willing to pay Read More
Cottonseed prices came off last week as Gavilon decided to put out lower offers. I have talked to many gins in each origin (TX, OK, AR, MO, MS, TN and GA) and have concluded there has been zero gin selling. We have a USDA production report this Wednesday and Read More
From the Desk of – Todd Parker – Penny-Newman Grain
Cottonseed prices are unchanged to start the week. Origin values have traded sideways for the second week. Texas is at $260 old and $250 new, The Delta States are at $225 old and $215 new, and the Eastern States are Read More
Good morning. Corn
futures are starting off the week slightly in the red, with the May contract
down 3/4 cent to $3.43. The May contract is currently a dime off its recent
low, thanks in large part to a 29.7 million-bushel sale of corn to the Chinese.
We’ve been waiting a long time Read More
COTTON estimates for 2019/20 are unchanged, except for a 1 cent-per pound reduction in the season-average upland farm price, to 62 cents, 8.3 cents lower than in 2018/19. Globally, the 2019/20 world cotton ending stocks forecasts is bumped higher by +2.5-million-bales driven by both larger production and lower consumption. Read More