Dollar Strength, World Economic Concerns CONTINUED FROM PAGE 3
week, and 69 percent last year. Favor- able growing weather has attributed to price weakness. I am currently priced 50 percent for 2011 and would hold off pricing more. Currently, buying a No- vember $13.00 Put option would cost $0.64 a bushel and set a $12.36 fu- tures floor. That compares to a $12.96 floor available two weeks ago. Wheat: Current Crop: July futures contract
closed at $6.35 ¾ a bushel, down $0.37 a bushel since Friday. Support is at $6.25 with resistance at $6.67 a bushel. Technical indicators have a strong sell bias. Weekly exports were slightly above expectations at 24.3 million bushels for 2011/12. Nation- wide, 31% of the winter wheat crop has been harvested compared to 22 percent last week, 17 percent last year and the five year average of 22 percent. Winter wheat crop condition ratings as of June 19 were 36 percent good to excellent compared to 35 per- cent last week and 65 percent last year. Poor to very poor ratings are 41 percent compared to 42 percent last week and 9 percent a year ago. With a stronger dollar, U.S. wheat is priced higher in the world market and may struggle to compete. I am currently at 50 percent priced and would look to
sell the remainder either off the com- bine at harvest or hold in storage, if available. Currently, there is carry in the futures market favoring storage to December. Producers with un-priced wheat in storage who want to set a floor under their wheat price may want to look at December Put options. A December $7.10 Put would cost $0.59 a bushel and set a $6.51 fu- tures floor. Deferred: December wheat closed at
$7.05 ½ a bushel, down $0.48 since last week. Support is at $6.92 with re- sistance at $7.30 a bushel. Technical indicators have a strong sell bias. Spring wheat as of June 19 is 91 per- cent planted compared to 88 percent last week, 100 percent a year ago and the five year average of 100 percent. Spring wheat emergence is 83 percent compared to 73 percent last week, 99 percent last year and the five year av- erage of 99 percent. Spring wheat crop condition ratings as of June 19 were 72 percent good to excellent compared to 68 percent last week, and 84 percent last year. July 2012 wheat closed at $7.62 a bushel.
∆ CHUCK DANEHOWER: Extension
Area Specialist/Farm Management, University of Tennessee
Would You Know A Cotton Fleahopper If You Saw One?
CONTINUED FROM PAGE 7
to reduce square retention below ac- ceptable levels. The good news is that cotton fleahopper infestations should be controlled by the typical rates of Car- bine, Centric, Intruder imidacloprid rec- ommended for tarnished plant bug. ∆ DR. SCOTT STEWART: IPM Extension Specialist, University of Tennessee
Some Corn Showing Signs
CONTINUED FROM PAGE 5 he said. “Rains moisten the soil, making it easier for plants to penetrate the com- pacted wall.” In contrast, dry conditions could exac-
erbate the problem. “If it dries off, recovery will be really
slow, if at all,” he said. He noted, in a few cases, the soil com-
paction may be too severe and the plants may not recover, even with timely rainfall.
AGEQUIPMENT
New & Used • We Have It All!
www.mafg.net
∆
Tri County Farmers Equip. Co.
Newbern, TN (731) 627-2541 James Hendrix Bart Hendrix Darrell Gillon Trenton, TN (731) 855-2232 Rocky Elliott
TRACTORS
MX285 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$90,000 MX255 3000 hrs. . . . . . . . . . . . . . . . . . . . . . . . .$75,000 MX240 1230 hrs. . . . . . . . . . . . . . . . . . . . . . . .$135,000 NH TS110 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$36,500
COMBINES
MidAmerica Farmer Grower 573-547-2244
www.mafg.net 10• MidAmerica Farmer Grower / July 1, 2011
‘10 7120 combine 345 hrs. w/2163 30’ . . . . . .$255,000 7010 combine . . . . . . . . . . . . . . . . . . . . . . . . . .$195,000 ‘07 8010 900 hrs. . . . . . . . . . . . . . . . . . . . . . . .$195,000 8010 combine w/30’ header . . . . . . . . . . . . . . .$195,000 6088 CIH combine, 394 hrs. . . . . . . . . . . . . . .$220,000 6088 combine . . . . . . . . . . . . . . . . . . . . . . . . . .$220,000 7088 combine . . . . . . . . . . . . . . . . . . . . . . . . . .$220,000 ‘00 2388 2,234 hrs. w/draper . . . . . . . . . . . . . . .$95,000
COTTON PICKERS
‘07 625 cotton picker . . . . . . . . . . . . . . . . . . . .$350,000 CORNHEADS
2212 12 row . . . . . . . . . . . . . . . . . . . . . . . . . . . .$43,000 2212 12 row, 30” . . . . . . . . . . . . . . . . . . . . . . . .$38,500 2212 12 row, 30” . . . . . . . . . . . . . . . . . . . . . . . .$38,000 2208 8 row, 30” . . . . . . . . . . . . . . . . . . . . . . . . .$30,000 2206 corn header . . . . . . . . . . . . . . . . . . . . . . . .$20,000 1083 corn head . . . . . . . . . . . . . . . . . . . . . . . . . .$6,500 1064 corn header . . . . . . . . . . . . . . . . . . . . . . . . .$6,500 1063 corn header . . . . . . . . . . . . . . . . . . . . . . . . .$6,500 1044 4 row, 38” . . . . . . . . . . . . . . . . . . . . . . . . . . .CALL
PLANTERS
12/23 planter two yrs. old . . . . . . . . . . . . . . . . . . .CALL 16/81 planter two yrs. old . . . . . . . . . . . . . . . . . . .CALL 2- 1200 8 row 38” . . . . . . . . . . . . . . . . . . . . . . . . .CALL
Newbern, TN (731) 627-2541 • Trenton, TN (731) 855-2232 • E-Mail @
CASEIH@USIT.NET Tri County Farmers Equip. Co.
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