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Futures
@CT - COTTON #2 - ICEFU
Month Open High Low Last Change Close Time More
Mar 17 75.97 75.99 75.90 75.90 0.40 75.42s 01:23P Chart for @CT7H Options for @CT7H
May 17 76.15 77.19 76.10 76.58 0.47 76.57s 01:23P Chart for @CT7K Options for @CT7K
Jul 17 76.98 77.96 76.94 77.50 0.58 77.50s 01:23P Chart for @CT7N Options for @CT7N
Oct 17 74.68 0.22 74.24s 01:23P Chart for @CT7V Options for @CT7V
Dec 17 73.65 74.10 73.65 73.98 0.09 73.98s 01:23P Chart for @CT7Z Options for @CT7Z
Mar 18 74.18 74.38 74.16 74.27 0.07 74.29s 01:23P Chart for @CT8H Options for @CT8H
May 18 74.19 74.40 74.16 74.28 0.05 74.33s 01:23P Chart for @CT8K Options for @CT8K
@S - SOYBEANS - CBOT
Month Open High Low Last Change Close Time More
Mar 17 1012'2 1016'2 1009'2 1014'0 2'0 1013'4s 02:33P Chart for @S7H Options for @S7H
May 17 1023'0 1027'2 1020'0 1025'0 1'6 1024'2s 03:21P Chart for @S7K Options for @S7K
Jul 17 1032'4 1036'2 1029'2 1034'0 1'6 1033'2s 03:37P Chart for @S7N Options for @S7N
@W - WHEAT - CBOT
Month Open High Low Last Change Close Time More
Mar 17 438'2 438'4 430'0 431'0 -6'6 431'2s 03:48P Chart for @W7H Options for @W7H
May 17 453'4 454'0 445'6 447'6 -5'4 448'0s 02:36P Chart for @W7K Options for @W7K
Jul 17 467'0 467'4 460'2 461'6 -5'0 462'0s 02:32P Chart for @W7N Options for @W7N
@C - CORN - CBOT
Month Open High Low Last Change Close Time More
Mar 17 365'6 366'6 362'4 364'4 -1'4 364'0s 03:28P Chart for @C7H Options for @C7H
May 17 372'4 373'4 369'2 371'4 -1'6 370'6s 03:57P Chart for @C7K Options for @C7K
Jul 17 380'4 381'0 376'6 379'0 -1'4 378'2s 02:33P Chart for @C7N Options for @C7N
My Custom Markets
Symbol Open High Low Last Change Close Time More

Johnny's Blog
Cotton good option for Good times and Bad times.
2-24-17
The Virginia state wide cotton meeting yesterday sponsored by the Virginia Cotton Growers Association was well attended and the program was well worth the total investment of a full day. It’s clear that if we are headed for a good growing season, then 2017 is just going to be a good year.  Joe Outlaw, our morning key note speaker helped us remember that Agriculture is in a vulnerable financial situation as the current prices for some of the commodities are not providing stabilizing income unless we make above average yields.  Grain is the best example for this which predominately focuses on corn which for the nation is the number one crop.  However for our little spot on the map, with both peanuts and cotton up over 20% in price, we will make good profits with just average yields on both of these commodities.
 
We are still in the Insurance Sign Up period ending next week in North Carolina and March 15 in Virginia, so I am continuously focused on how we maintain agricultural stability even in a bad year.  This actually is where cotton moves to the best option for our farms.  With county yields in our core counties ranging from 987 pounds per acre in Southampton to 1038 in Isle of White and a price of around 74 cents, STAX is going to support county average revenue at $657 to $690.  Northampton, Sussex, and Surry are in the middle and Suffolk & Hertford is only slightly lower.  Crop revenue Insurance does the best job at supporting personal risk, so you need both for the best defense.  If prices move up in the fall, all of these numbers just get better.  If prices move lower, then it can get better as well because you could make a good yield and still trigger a STAX payment.  If STAX triggers, then it looks like the best safety net for 2017. If it does not trigger, then that means we maintained prices and yield and it will all be good in the end.

Cool Fun Fact - Cotton does not have a break even yield this year because STAX and Insurance combined offer support around $100/acre above production cost and overhead.  The exception would be an isolated disaster that did not happen to the county on a farm that had a personal insurance much below average.

NEXT TIME - Warm spring weather making the weeds grow.  Implications for Burndown.



DISCLAIMER: The data contained herein is for informational, conversational, and philosophical thinking and is for general purposes only. Ideas expressed apply to the Upper Southeast growing region. Although the information was obtained from various sources, which we believe to be reliable, we do not in any way guarantee its accuracy or completeness. Comments are influenced by past experiences, personal bias and hypothetical speculation by the writer and are not always accurate predictors of future events. Specific references to Agricultural Products and Rates are used for examples and do not reflect specific endorsement or recommendations for use. Always read and follow all label directions and precautions for use. We disclaim any responsibility for any errors or omissions contained herein. FULL DISCLOSURE: There is no compensation received by Johnny to promote any product referenced with in this blog. Johnny is a paid employee of Commonwealth Gin


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Did You Know?

In 1869 the first transcontinental railroad was completed


Fact courtesy of the USDA



Cotton News

 


Local Radar
Windsor, VA
Chg Zip Code: 
 
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Local Forecast
Windsor, VA
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High: 78°F
Low: 52°F
Precip: 54%
High: 58°F
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High: 65°F
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High: 75°F
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Precip: 74%
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Windsor, VA
Chg Zip Code: 
Temp: 64oF Feels Like: 64oF
Humid: 83% Dew Pt: 58oF
Barom: 29.86 Wind Dir: SSE
Cond: N/A Wind Spd: 3 mph
Sunrise: 6:41 Sunset: 5:57
As reported at SUFFOLK, VA at 9:00 PM
View complete Local Weather

Quote Ticker
  • COTTON #2 (Mar 17) 75.90 0.40 2/24/17   1:23 PM CST
  • COTTON #2 (May 17) 76.58 0.47 2/24/17   1:23 PM CST
  • COTTON #2 (Jul 17) 77.50 0.58 2/24/17   1:23 PM CST
  • COTTON #2 (Oct 17) 74.68 0.22 2/24/17   1:23 PM CST
  • COTTON #2 (Dec 17) 73.98 0.09 2/24/17   1:23 PM CST
  • COTTON #2 (Mar 18) 74.27 0.07 2/24/17   1:23 PM CST
  • COTTON #2 (May 18) 74.28 0.05 2/24/17   1:23 PM CST
  • SOYBEANS (Mar 17) 1014'0 2'0 2/24/17   1:19 PM CST
  • SOYBEANS (May 17) 1025'0 1'6 2/24/17   1:19 PM CST
  • SOYBEANS (Jul 17) 1034'0 1'6 2/24/17   1:19 PM CST
  • WHEAT (Mar 17) 431'0 -6'6 2/24/17   1:19 PM CST
  • WHEAT (May 17) 447'6 -5'4 2/24/17   1:19 PM CST
  • WHEAT (Jul 17) 461'6 -5'0 2/24/17   1:19 PM CST
  • CORN (Mar 17) 364'4 -1'4 2/24/17   1:19 PM CST
  • CORN (May 17) 371'4 -1'6 2/24/17   1:20 PM CST
  • CORN (Jul 17) 379'0 -1'4 2/24/17   1:19 PM CST

 
 
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