CHARLEY MARTINEZ
KNOXVILLE, TENNESSEE
We got a lot of information this week, below covers the highlights from the planting and grain crushing report.
In the prospective plantings report, Tennessee farmers intend to plant approximately 17.1 million acres of crops in 2026, a slight decline from
2025, reflecting continued adjustments to market conditions and weather expectations. Corn acreage is projected at about 3.7 million acres, down roughly 11% from the previous year, indicating a notable pullback in corn planting across the state. In contrast, soybean acreage is expected to remain relatively stable, consistent with broader national trends supporting soybeans due to favorable pricing prospects. Wheat plantings show little change overall, while cotton acreage remains modest compared to major cotton-producing states, with Tennessee maintaining its diversified row-crop mix rather than expanding cotton significantly. Overall, Tennessee’s 2026 planting intentions point to a cautious rebalancing away from corn and toward crop diversification, aligning with regional trends in the Southeast.
According to the USDA’s Grain Crushings report released yesterday, Tennessee remains a modest but consistent participant in grain crushing activity, with operations primarily tied to corn used for fuel and industrial purposes rather than direct soybean processing. Nationally, corn consumed for production declined from the previous month and year. While Tennessee does not rank among the largest grain‐crushing states, its facilities contribute to the broader Southeast feed and livestock supply chain by producing co‐products used in animal feed markets, linking grain processing to the state’s significant poultry and cattle sectors.
Crude oil posted an exceptionally large month‐over‐month increase of 97.41%, nearly doubling from the previous month and rising 46.18% year over year. In contrast, natural gas prices fell sharply, declining 44.44% from the prior month and 18.30% from a year earlier, reflecting seasonal demand. Fertilizer markets, however, continue to strengthen across most products: urea rose 32.16% month over month and nearly 69% year over year, while UAN‐32 increased 19.49% from the previous month and 53.30% from last year, indicating sustained cost pressure for nitrogen fertilizers. Potash and DAP prices were relatively stable month to month, with increases below 1%, but still showed double‐digit annual gains, suggesting firm longer‐term pricing even as short‐run volatility moderates. Overall, highlights elevated input‐cost risks for agriculture, driven primarily by fertilizer inflation rather than uniform energy price increases.
Commodity Source Current Previous Month Previous Year % Change Month % Change Year
I hope everyone has a great holiday weekend!
Corn
Across Tennessee, average corn basis (cash price-nearby futures price) weakened from last week at West, Northwest, West-Central, North-Central, and Mississippi River elevators and barge points. Overall, basis for the week ranged from 30 cents under to 21 cents over, with an average of 5 cents over with the May futures at elevators and barge points. Ethanol production for the week ending March 27th was 1.075 million barrels, down 41,000 barrels compared to the previous week. Ethanol stocks were 25.991 million barrels, down 1,179,000 barrels compared to the previous week. Cash prices ranged from $4.26 to $4.95 at elevators and barge points. On Friday, September 2026 corn futures closed at $4.67, which is down 9 cents compared to last week. For the week, September 2026 corn futures traded between $4.61 and $4.80.
This week new crop cash contracts ranged from $4.30 to $4.90 at elevators and barge points. December corn futures closed at $4.81, down 9 cents from last week.
Soybeans
Across Tennessee average soybean basis strengthened compared to last week at West, Northwest, North-Central, West-Central, and Mississippi River elevators and barge points. Average basis ranged from 35 under to 26 over the May futures con- tract, with an average basis at the end of the week of 2 cents under. Cash soybean prices at elevators and barge points ranged from $11.25 to $11.96. September 2026 soybean futures closed at $11.53, up 9 cents compared to last week. For the week, September 2026 soybean futures traded between $11.41 and $11.64.
November 2026 soybean futures closed at $11.44, up 3 cents compared to last week.
Cotton
North Delta upland cotton spot price quotes for April 1st were up compared to last week. Prices were 68.76 cents/lb (41-4-34), and 73.51cents/lb (31-3-35), which made both up 1.3 cents compared to last week’s prices.
For the week, May 2026 cotton futures closed at 70.92 cents, up 1.46 cents compared to last week. December 2026 cotton futures closed at 74.98 cents, up .96 cents compared to last week.
Wheat
Wheat cash prices at elevators and barge points ranged from $5.83 to $6.06.
July 2026 wheat futures closed at $6.09, down 7 cents compared to last week. July 2026 wheat futures traded between $6.05 and $6.36 this week. September 2026 wheat futures closed at $6.22, down 7 cents compared to last week. ∆
CHARLEY MARTINEZ
UNIVERSITY OF TENNESSEE
The post Tennessee Remains A Modest But Consistent Participant In Grain Crushing Activity appeared first on Soybean South.
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