by Andrew Griffith, Livestock Marketing Specialist
November 6, 2026
Overview
Corn, Soybean, and Wheat down, Cotton up for the week.
Fuel
It is a sad day when a seven cent decline in diesel price week-over-week is the talking point or when the month-over-month decline is 15 cents per gallon. Thus, this must be a sad day, because that is the one small bit of relief that can be talked about. If a person wanted to make the day even worse, that person should just talk about diesel prices one year ago, which were $2.50 per gallon lower than they are today. Old timers have always said, “I remember when the price of ‘insert name of good here’ was only so and so price. Well nearly everyone can say they remember when diesel prices were $3.38, because that is what they were one year ago. What will they be one year from now?
| Fuel | Regular | Mid-Grade | Premium | Diesel |
|---|---|---|---|---|
| Current Avg. | $3.65 | $4.13 | $4.55 | $5.88 |
| Yesterday Avg. | $3.68 | $4.15 | $4.56 | $5.90 |
| Week Ago Avg. | $3.75 | $4.21 | $4.62 | $5.95 |
| Month Ago Avg. | $3.97 | $4.44 | $4.84 | $6.03 |
| Year Ago Avg. | $2.61 | $3.08 | $3.48 | $3.38 |
| Indicator | Previous | Current | Change |
|---|---|---|---|
| USD Index | 101.90 | 102.28 | 0.38 |
| Crude Oil | 104.09 | 91.04 | -13.05 |
| DJIA | 51600 | 51447 | -154 |
Corn
Across Tennessee, average corn basis (cash price-nearby futures price) increased 10 cents from last week at West, Northwest, West-Central, North-Central, and Mississippi River elevators and barge points. Overall, basis for the week ranged from 28 cents under to 33 cents over, with an average of 7 cents under the December futures at elevators and barge points. Ethanol production for the week ending October 30th was 1.143 million barrels per day, up 25,000 barrels per day compared to the previous week. Ethanol stocks were 24,434 million barrels, down 89,000 barrels compared to the previous week. Cash prices ranged from $4.13 to $4.79 at elevators and barge points.On Friday, December 2026 corn futures closed at $4.42, down 6 cents compared to last week. For the week, December 2026 corn futures traded between $4.39 and $4.52.
Nationally, the Crop Progress report estimated corn harvested to be 74% compared to 60% last week, NA last year, and a 5-year average of 77%. In Tennessee, corn harvested to be 100% compared to 98% last week, NA last year, and a 5-year average of 94%. For the week of October 23-October 29, 2026, net sales of 1,294,600 MT for 2026/2027 were down 1 percent from the previous week, but up 10 percent from the prior 4-week average. Increases primarily for Mexico (381,300 MT), unknown destinations (253,500 MT), Colombia (201,900 MT), Japan (173,800 MT), and Spain (72,500 MT). Exports of 1,029,000 MT were up 86 percent from the previous week, but down 4 percent from the prior 4-week average.
Soybeans
Across Tennessee average soybean basis increased 10 cents compared to last week at West, Northwest, North-Central, West-Central, and Mississippi River elevators and barge points. Average basis ranged from 32 under to 44 over with the November futures contract, with an average basis of 4 cents over at the end of the week. Cash soybean prices at elevators and barge points ranged from $11.57 to $12.63. November 2026 soybean futures closed at $11.89, down 33 cents compared to last week. For the week, November 2026 soybean futures traded between $11.78 and $12.26.
Nationally, the Crop Progress report estimated soybean harvested to be 88% compared to 79% last week, NA last year, and a 5-year average of 84%. In Tennessee, soybeans harvested to be 88% compared to 81% last week, NA last year, and a 5-year average of 72%. For the week of October 23-October 29, 2026, net sales of 1,456,100 MT for 2026/2027 were down 44 percent from the previous week and 11 percent from the prior 4-week average. Increases primarily for China (873,900 MT), Algeria (132,000 MT), Turkey (115,000 MT), Spain (95,700 MT), and Pakistan (60,600 MT). Exports of 2,530,900 MT–a marketing-year high–were up 6 percent from the previous week and 46 percent from the prior 4-week average.
Cotton
North Delta upland cotton spot price quotes for November 5th were up compared to last week. Prices were 80.71 cents/lb (41-4-34), and 76.46 cents/lb (31-3-35), which made both up 0.21 cents compared to last week’s prices.
Nationally, the Crop Progress report estimated cotton harvested to be 63% compared to 52% last week, NA% last year, and a 5-year average of 54%. In Tennessee, the Crop Progress report estimated cotton harvested to be 80% compared to 67% last week, NA% last year, and a 5-year average of 64%. For the week October 23-October 29, 2026, net sales of Upland totaling 277,500 RB for 2026/2027 were up 28 percent from the previous week and 53 percent from the prior 4-week average. Increases primarily for Vietnam (200,500 RB), Pakistan (30,700 RB), Turkey (18,300 RB), Peru (7,700 RB), and India (5,100 RB). Exports of 137,800 RB–a marketing-year low–were down 14 percent from the previous week and 16 percent from the prior 4-week average. On Thursday, December 2026 cotton futures settled at 78.71 cents, up 0.21 cents compared to last week. December 2027 cotton futures settled at 77.62 cents, down 0.14 cents compared to last week.
Wheat
Wheat cash prices at elevators and barge points ranged from $5.24 to $5.34. July 2027 wheat futures closed at $6.15, down 15 cents compared to last week.
Nationally, the Crop Progress report estimated winter wheat planted to be 83% compared to 76% last week, NA last year, and a 5-year average of 84%. The Crop Progress report estimated winter wheat emerged to be 65% compared to 53% last week, NA last year, and a 5-year average of 65%. For the week of October 23-October 29, net sales of 538,000 metric tons (MT) for 2026/2027 were down 37 percent from the previous week, but up 16 percent from the prior 4-week average. Increases primarily for the Philippines (119,000 MT), South Korea (100,000 MT), Indonesia (70,000 MT), Thailand (57,500 MT), and unknown destinations (57,000 MT). Net sales of 19,200 MT for 2027/2028 were reported for Peru (16,000 MT) and Mexico (3,200 MT). Exports of 149,200 MT–a marketing-year low–were down 44 percent from the previous week and 43 percent from the prior 4-week average.
Additional Information
Links for data presented:
U.S. Export Sales – https://apps.fas.usda.gov/export-sales/esrd1.html
USDA FAS: Weekly Export Performance Indicator – https://apps.fas.usda.gov/esrquery/esrpi.aspx
EIA: Weekly ethanol Plant Production – https://www.eia.gov/dnav/pet/pet_pnp_wprode_s1_w.htm
EIA: Weekly Supply Estimates – https://www.eia.gov/dnav/pet/pet_sum_sndw_a_EPOOXE_sae_mbbl_w.htm
Upland Cotton Reports – https://www.fsa.usda.gov/FSA/epasReports?area=home&subject=ecpa&topic=fta-uc
Tennessee Crop Progress – https://www.nass.usda.gov/Statistics_by_State/Tennessee/Publications/Crop_Progress_&_Condition/
U.S. Crop Progress – http://usda.mannlib.cornell.edu/MannUsda/viewDocumentInfo.do?documentID=1048
USDA AMS: Market News – https://www.ams.usda.gov/market-news/search-market-news
If you would like further information or clarification on topics discussed in the crop comments section or would like to be added to our free email list please contact me at agriff14@utk.edu.