by Andrew Griffith, Livestock Marketing Specialist
August 14, 2026
Overview
Corn, Soybean, Wheat, Cotton up for the week
Fuel
Tennessee fuel prices were largely lower compared to last week. Current average prices stand at $3.60 per gallon for regular gasoline, $4.06 for mid-grade, $4.47 for premium, and $5.01 for diesel. Compared with one week ago, prices declined $0.10 per gallon for gasoline products and were unchanged for diesel, while current prices are $0.21 to $0.22 per gallon higher than one month ago for gas and $0.57 per gallon higher for diesel. The most significant changes are evident in the year-over-year comparison, with gasoline increasing $0.79 to $0.80 per gallon and diesel increasing $1.56 per gallon.
| Fuel | Regular | Mid-Grade | Premium | Diesel |
|---|---|---|---|---|
| Current Avg. | $3.67 | $4.15 | $4.55 | $5.08 |
| Yesterday Avg. | $3.66 | $4.14 | $4.54 | $5.05 |
| Week Ago Avg. | $3.60 | $4.06 | $4.47 | $5.01 |
| Month Ago Avg. | $3.48 | $3.95 | $4.35 | $4.61 |
| Year Ago Avg. | $2.76 | $3.22 | $3.61 | $3.43 |
| Indicator | Previous | Current | Change |
|---|---|---|---|
| USD Index | 99.95 | 99.58 | -0.37 |
| Crude Oil | 843.64 | 80.96 | -2.68 |
| DJIA | 53885 | 53775 | -110 |
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 7 cents over, with an average of 4 cents under the September futures at elevators and
barge points. Ethanol production for the week ending August 7th was 1.117 million barrels, up 10,000 barrels compared to
the previous week. Ethanol stocks were 24.798 million barrels, up 274,000 barrels compared to the previous week. Cash
prices ranged from $4.24 to $4.73 at elevators and barge points. On Friday, September 2026 corn futures closed at $4.59,
which is up 20 cents compared to last week. For the week, September 2026 corn futures traded between $4.37 and $4.59.
Nationally, the Crop Progress report estimated corn condition at 61% good-to-excellent (no change from last week) and
14% poor-to-very poor (no change from last week); corn dough to be 61% compared to 43% last week, 56% last year, and
a 5-year average of 55%. In Tennessee, corn condition was estimated at 80% good-to-excellent (down 1% from last week)
and 3% poor-to-very poor (down 1% from last week). This week new crop cash contracts ranged from $4.23 to $4.81 at
elevators and barge points. For the week of July 31- August 6, 2026, 410,700 MT for 2025/2026 were up noticeably from
the previous week and up 46 percent from the prior 4-week average. Net sales of 924,500 MT for 2026/2027 primarily for
Mexico (416,400 MT), unknown destinations (253,700 MT), Colombia (129,200 MT), South Korea (55,000 MT), and El
Salvador (31,000 MT), were offset by reductions for Costa Rica (22,900 MT). Exports of 1,767,300 MT were down 8 percent
from the previous week, but up 4 percent from the prior 4-week average. December corn futures closed at $4.83, up 21
cents from last week.
Soybeans
Across Tennessee average soybean basis was unchanged compared to last week at West, Northwest, North-Central, West-
Central, and Mississippi River elevators and barge points. Average basis ranged from 34 under to 11 cents over the
September futures contract, with an average basis of 11 cents under at the end of the week. Cash soybean prices at
elevators and barge points ranged from $11.22 to $12.13. September 2026 soybean futures closed at $11.78, up 19 cents
compared to last week. For the week, September 2026 soybean futures traded between $11.52 and $11.78.
Nationally, the Crop Progress report estimated soybean condition at 62% good-to-excellent (down 1% from last week) and
10% poor-to-very poor (up 1% from last week); soybean setting pods to be 74% compared to 62% last week, 69% last
year, and a 5-year average of 69%. In Tennessee, soybean condition was estimated at 76% good-to-excellent (up 1% from
last week) compared to 5% poor-to-very poor (down 4% from last week); setting pods to be 85% compared to 78% last
week, 66% last year, and a 5-year average of 64%. For the week of July 31- August 6, 2026, net sales of 75,100 MT for
2025/2026 were up noticeably from the previous week, but down 48 percent from the prior 4-week average. Net sales of
1,759,900 MT for 2026/2027 primarily for China (1,446,000 MT), unknown destinations (272,000 MT), Taiwan (16,500
MT), Mexico (15,200 MT), and Vietnam (5,800 MT), were offset by reductions for Thailand (1,100 MT). Exports of 269,700
MT were down 22 percent from the previous week and 32 percent from the prior 4-week average. November 2026
soybean futures closed at $11.93, up 17 cents compared to last week.
Cotton
North Delta upland cotton spot price quotes for August 13th were up compared to last week. Prices were 78.61 cents/lb
(41-4-34), and 83.36 cents/lb (31-3-35), which made both up 0.40 cents compared to last week’s prices.
Nationally, the Crop Progress report estimated cotton condition at 40% good-to-excellent (down 2% from last week) and
22% poor-to-very poor (up 2% from last week); setting bolls to be 65% compared to 55% last week, 64% last year, and a
5-year average of 67%. In Tennessee, the Crop Progress report estimated cotton condition at 68% good-to-excellent (up
11% from last week) and 14% poor-to-very poor (down 2% from last week); cotton setting bolls to be 65% compared to
55% last week, 64% last year, and a 5-year average of 67%. Net sales of Upland totaling 905,000 RB for 2026/2027
marketing year, which began August 1, were primarily for Vietnam (222,500 RB, including 4,000 RB switched South Korea,
400 RB switched from Japan, 100 RB switched from Hong Kong, and decreases 1,200 RB), Pakistan (164,200 RB),
Bangladesh (81,100 RB), Mexico (67,300 RB), and India (67,200 RB). For the week, December 2026 cotton futures closed
at 83.50 cents, up 0.34 cents compared to last week. March 2027 cotton futures closed at 85.42 cents, up 0.19 cents
compared to last week.
Wheat
Wheat cash prices at elevators and barge points ranged from $5.58 to $6.03.
Nationally, the Crop Progress report estimated spring wheat harvested to be 24% compared to 5% last week, 14% last year,
and a 5-year average of 19%. The report estimated winter wheat harvested to be 91% compared to 86% last week, 89% last
year, and a 5-year average of 91%. For the week of July 31-August 6, net sales of 255,900 metric tons (MT) for 2026/2027
were down 14 percent from the previous week and 8 percent from the prior 4-week average. Increases primarily for
Mexico (101,100 MT), South Korea (87,700 MT), Indonesia (66,500 MT), Japan (47,200 MT), and Peru (40,600 MT). Exports
of 490,600 MT–a marketing-year high–were up 17 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.