by Andrew Griffith, Livestock Marketing Specialist
August 21, 2026
Overview
Corn, Soybean, Wheat, Cotton up for the week
Fuel
Gas prices in Tennessee were relatively unchanged from a week ago and only slightly higher than a month ago whereas diesel prices have inched higher over the past several weeks. Understanding on road and off-road diesel are important to farming operations, one would hope farmers had already filled up bulk tanks prior to harvest as both products will be in high demand from combines, cotton pickers, tractors pulling grain carts, and trucks hauling to on farm storage, the elevator or the gin. If this was not the course of action, farmers should keep their eyes open for an opportunity.
| Fuel | Regular | Mid-Grade | Premium | Diesel |
|---|---|---|---|---|
| Current Avg. | $3.67 | $4.14 | $4.54 | $5.28 |
| Yesterday Avg. | $3.66 | $4.13 | $4.54 | $5.26 |
| Week Ago Avg. | $3.67 | $4.15 | $4.55 | $5.08 |
| Month Ago Avg. | $3.62 | $4.09 | $4.50 | $4.85 |
| Year Ago Avg. | $2.78 | $3.25 | $3.65 | $3.41 |
| Indicator | Previous | Current | Change |
|---|---|---|---|
| USD Index | 99.58 | 98.80 | -0.78 |
| Crude Oil | 80.96 | 87.23 | 6.27 |
| DJIA | 53775 | 53173 | -602 |
Corn
Across Tennessee, average corn basis (cash price-nearby futures price) decreased 2 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 13 cents under to 10 cents over, with an average of 2 cents under the September futures at elevators and barge points. Ethanol production for the week ending August 14th was 1.089 million barrels, down 28,000 barrels compared to the previous week. Ethanol stocks were 25.121 million barrels, up 323,000 barrels compared to the previous week. Cash prices ranged from $4.51 to $4.91 at elevators and barge points.On Friday, September 2026 corn futures closed at $4.84, which is up 25 cents compared to last week. For the week, September 2026 corn futures traded between $4.63 and $4.84.
Nationally, the Crop Progress report estimated corn condition at 60% good-to-excellent (down 1% from last week) and 15% poor-to-very poor (up 1% from last week); corn dough to be 76% compared to 61% last week, 70% last year, and a 5-year average of 70%. In Tennessee, corn condition was estimated at 80% good-to-excellent (no change from last week) and 4% poor-to-very poor (up 1% from last week). This week new crop cash contracts ranged from $4.51 to $4.91 at elevators and barge points.For the week of August 7- August 13, 2026, net sales of 232,900 MT for 2025/2026 were down 43 percent from the previous week and 24 percent from the prior 4-week average. Net sales of 816,100 MT for 2026/2027 primarily for Mexico (305,400 MT), Japan (184,000 MT), unknown destinations (121,600 MT), Taiwan (74,500 MT), and Colombia (61,400 MT). Exports of 1,975,500 MT were up 12 percent from the previous week and 13 percent from the prior 4-week average. December corn futures closed at $5.09, up 26 cents from last week.
Soybeans
Across Tennessee average soybean basis increased 8 cents compared to last week at West, Northwest, North-Central, West-Central, and Mississippi River elevators and barge points. Average basis ranged from 28 under to 33 cents over the September futures contract, with an average basis of 4 cents under at the end of the week. Cash soybean prices at elevators and barge points ranged from $11.43 to $12.71. September 2026 soybean futures closed at $12.25, up 47 cents compared to last week. For the week, September 2026 soybean futures traded between $12.01 and $12.25.
Nationally, the Crop Progress report estimated soybean condition at 61% good-to-excellent (down 1% from last week) and 10% poor-to-very poor (no change from last week); soybean setting pods to be 85% compared to 74% last week, 80% last year, and a 5-year average of 80%. In Tennessee, soybean condition was estimated at 73% good-to-excellent (down 3% from last week) compared to 5% poor-to-very poor (no change from last week); setting pods to be 91% compared to 85% last week, 80% last year, and a 5-year average of 76%. For the week of August 7- August 13, 2026, net sales of 85,000 MT for 2025/2026 were up 13 percent from the previous week, but down 27 percent from the prior 4-week average. Net sales of 1,723,000 MT for 2026/2027 primarily for China (1,131,000 MT), unknown destinations (222,000 MT), Mexico (161,500 MT), Japan (100,000 MT), and Venezuela (45,000 MT), were offset by reductions for the Philippines (100 MT). Exports of 405,100 MT were up 50 percent from the previous week and 15 percent from the prior 4-week average. November 2026 soybean futures closed at $12.40, up 47 cents compared to last week.
Cotton
North Delta upland cotton spot price quotes for August 20th were up compared to last week. Prices were 83.27 cents/lb (41-4-34), and 88.02 cents/lb (31-3-35), which made both up 4.66 cents compared to last week’s prices.
Nationally, the Crop Progress report estimated cotton condition at 38% good-to-excellent (down 2% from last week) and 26% poor-to-very poor (up 4% from last week); setting bolls to be 74% compared to 65% last week, 72% last year, and a 5-year average of 77%. In Tennessee, the Crop Progress report estimated cotton condition at 65% good-to-excellent (down 3% from last week) and 13% poor-to-very poor (down 1% from last week); cotton setting bolls to be 95% compared to 90% last week, 82% last year, and a 5-year average of 86%. For the week August 7-August 13, 2026, net sales of Upland totaling 209,400 RB for 2026/2027 primarily for Vietnam (55,400 RB), Pakistan (51,900 RB), El Salvador (40,100 RB), Honduras (27,600 RB), and India (16,500 RB). Net sales of 64,900 RB for 2027/2028 were reported for El Salvador (35,100 RB), Guatemala (15,400 RB), and Honduras (14,300 RB). Exports of 222,000 RB were primarily to Vietnam (66,800 RB), Pakistan (30,200 RB), India (28,200 RB), Bangladesh (22,400 RB), and Turkey (21,500 RB). For the week, December 2026 cotton futures closed at 88.35 cents, up 4.85 cents compared to last week. December 2027 cotton futures closed at 88.35 cents, up 5.55 cents compared to last week.
Wheat
Wheat cash prices at elevators and barge points ranged from $5.92 to $6.33. July 2027 wheat closed at $7.22, up 12 cents compared to last week.
Nationally, the Crop Progress report estimated spring wheat harvested to be 41% compared to 24% last week, 33% last year, and a 5-year average of 34%. The report estimated winter wheat harvested to be 96% compared to 91% last week, 93% last year, and a 5-year average of 94%. For the week of August 7-August 13, net sales of 393,700 metric tons (MT) for 2026/2027 were up 54 percent from the previous week and 40 percent from the prior 4-week average. Increases primarily for Mexico (105,000 MT), Taiwan (97,200 MT), Thailand (61,200 MT), Italy (29,300 MT), and South Korea (24,700 MT), were offset by reductions for Japan (5,700 MT). Exports of 524,300 MT–a marketing-year high–were up 7 percent from the previous week and 46 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.