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The University of Tennessee | Institute of Agriculture

Department of Agricultural and Resource Economics

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Monthly Crop Outlook

By Dr. Aaron Smith

 

Supply and Demand Estimates and Profitability Outlook

The following PDF contains a summary of the USDA's monthly World Agricultural Supply and Demand Estimates (WASDE) report. Domestic balance sheets for corn, soybeans, cotton, and wheat are displayed along with price reaction in futures markets for each commodity on the day of the report release. Additionally, supply and demand estimates for key importing and exporting countries are provided for the current month along with change in estimates from the previous report. The Profitability Outlook section contains estimated returns per acre for each commodity based  on 2014 Tennessee state average/trend yields and current price offerings (note: cotton prices include a seed and hauling rebate). Variable expenses are based on the University of Tennessee Extension 2014 Row Crop Budgets. Prices are updated monthly; expenses are updated as warranted during the year and may be different than the expenses contained in the 2014 Row Crop Budgets. This section provides an estimation of the current relative profitability amongst major row crops in Tennessee.

The report is prepared monthly by Dr. Aaron Smith and Chuck Danehower.