{"id":55,"date":"2019-05-15T20:13:37","date_gmt":"2019-05-15T20:13:37","guid":{"rendered":"https:\/\/amarillo.tamu.eduagecon\/?p=55"},"modified":"2026-04-03T09:00:27","modified_gmt":"2026-04-03T14:00:27","slug":"high-plains-ag-week-5-10-2019","status":"publish","type":"post","link":"https:\/\/agrilife.org\/agecon\/high-plains-ag-week-5-10-2019\/","title":{"rendered":"High Plains Ag Week – 5\/10\/2019"},"content":{"rendered":"

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Lots of red in the contracts of interest section this week. Markets plunged quite a bit this week, largely in response to poor planting progress and the announcement of new reenacted\/new tariffs on Chinese goods, which we\u2019ll talk about in \u2018It Depends\u2019. Dec. Corn is down approximately 1.22% <\/strong><\/span>from the week opening and down 7.92%<\/strong><\/span> from its four-month high of $4.04\/bu. on February 25. Seasonal trends have corn rising around 70% of years during this period, and slowed planting would normally support that, however high carryover and continued trade tensions seem to be dampening those fundamental signals.<\/p>\n

August and May Feeder contracts have fallen over the last three weeks. The Aug. Feeder contract fell from a recent peak of $161.35\/cwt. to close today at $144.30\/cwt. a three-week decline of 10.55%.<\/p>\n

Production report forecasts vary widely, so this last bit of trading in the post-production report period prior to trading close could be volatile depending on where those actual reported numbers wind up. High frequency trading on these numbers could lead to big swings.<\/p>\n

Next Week:\u00a0<\/strong>Next week does not hold many reports that are typical \u2018market movers\u2019, however the Census: Congressional District Rankings from NASS will be published on Friday. This report is just what it sounds like; a ranking of U.S. Congressional districts in different categories by their production amount, receipts, land area devoted to cropping, etc.<\/p>\n

Important Dates:\u00a0<\/strong><\/p>\n