Jul 25, 2014
Home | Tools| Events| Blogs| Discussions Sign UpLogin

AgDay Daily Recap -July 10, 2014

July 10, 2014
 
 

 

TODAY ON AGDAY
JULY 10, 2014

OPEN HEADLINES:
COMING UP TODAY ON AGDAY GRAINS ARE CHEAP AND CATTLE PRICES ARE LOVING IT. WE'VE NEVER BEEN HERE BEFORE...WE'RE IN UNCHARTED WATERS. OTHERS THINK WE'RE AT A TIPPING POINT. WE'RE ON A DEMAND DESTRUCT MARKET RIGHT NOW, WHICH MEANS THE MARKET KNOWS THE SUPPLY ISN'T THERE. IN AGRIBUSINESS, INDIA'S IN TROUBLE... INDIAN MONSOONS HAVE BEEN DISAPPOINTING FOR THE LAST 5 OR 6 WEEKS. HOW THAT COULD PLAY IN THE FAVOR OF SMALL GRAINS. AND IT'S A PASSION AND PURPOSE THAT'S GOING VIRAL. WE'LL INTRODUCE YOU TO A SOUTH DAKOTA FAMILY WHO'S ADVOCACY IN CONTAGIOUS.AGDAY-BROUGHT TO YOU BY CHEVY SILVERADO-THE2014 NORTH AMERICAN TRUCK OF THE YEAR.
DERRELL PEEL:
GOOD MORNING I'M TYNE MORGAN. CLINTON GRIFFITHS IS ON ASSIGNMENT. IT'S A DOUBLE-WIN FOR BEEF PRODUCERS AS THE CORN CROP SHOWS PLENTY OF POTENTIAL FOR FEED AND DEMAND FOR BEEF ISN'T SCARED BY COST. OUR BEEF TODAY REPORT IS TODAY'S TOP STORY.
DERRELL PEEL:
FOR MANY BEEF PRODUCERS WHO WEATHERED DROUGHT IN RECENT YEARS, THEY'VE SEEM TO HIT THE BONANZA RIGHT NOW. WITH THE GOVERNMENT PROJECTING A LARGE CORN CROP THAT'S IN VERY GOOD SHAPE, FEED COSTS HAVE DROPPED. AND WITH A DROUGHT-REDUCED HERD, SUPPLY IS LIMITED. AND CONSUMER DEMAND FOR BEEF REMAINS STRONG.
BOWER ON BEEF:
NOT EVERYONE AGREES WITH PEEL. WE RECENTLY HAD JIM BOWER, A VETERAN ANALYST, IN OUR STUDIO. HE SAT DOWN WITH AL PELL TO DISCUSS HIS THOUGHTS ON CATTLE PRICES. AND HIS VIEW IS THE OPPOSITE OF PEEL'S.
FEEDLOT MARGINS:
CLINTON…MEANWHILE, FEEDLOTS AREN'T COMPLAINING ABOUT CURRENT PRICES. IN JUST THE PAST 30 DAYS, CATTLE FEEDER MARGINS HAVE IMPROVED BY NEARLY $150 PER HEAD. JUST A YEAR AGO, FEEDLOTS WERE POSTING NEARLY 195 DOLLAR LOSSES- PER HEAD. ACCORDING TO THE STERLING BEEF PROFIT TRACKER, AS OF LAST WEEK, THAT'S A SWING OF MORE THAN 514 DOLLARS.

CROP WATCH:

CLINTON…CROPWATCH TODAY SHOWCASES CORN IN THE WEATHER EXTREMES. PLUS AN IMAGE FROM THE WHEAT BELT…MIKE HOFFMAN HAS DETAILS IN CROPWATCH.
KEYSTONE UPDATE:
A NEBRASKA COURT CASE THIS FALL COULD PUSH FEDERAL OFFICALS TO MAKE A DECISION ON THE KEYSTONE X-L PIPELINE, BUT NOT UNTIL AFTER THE ELECTIONS.
RFS DECISIONS:
MEANWHILE, A LONG AWAITED DECISION ON CHANGES TO THE RENEWABLE FUELS STANDARD COULD BE COMING SOON. AT LEAST THAT'S WHAT EPA ADMINSTRATOR GINA MCCARTHY TOLD REPORTERS THIS WEEK.
TEASE:
SMALL GRAINS COULD GAIN SOME MOMENTUM IF A MAJOR WEATHER EVENT DOESN'T ARRIVE IN INDIA SOON. IT ALL DEPENDS ON TWO WORDS-- EL NINO. WE'LL HAVE DETAILS IN AGRIBUSINESS.AND IS THERE ANY RELIEF IN SIGHT FOR THESE SCORCHING GAS PRICES? WE'LL LET YOU KNOW IN FOOD AND YOUR FAMILY.
CANADA CANOLA:
IN AGRIBUSINESS, THE WORLD'S LARGEST CANOLA PRODUCER IS UNDER WATER, AND THAT IS SHRINKING WHAT WAS THOUGHT TO BE A HUGE CROP THIS YEAR.
BOWER WORLD VIEW:
WHILE PORTIONS OF THE CANADA ARE BATTLING FLOODS, OTHER PARTS OF THE WORLD ARE FIGHTING DROUGHT. AND THAT COULD HAVE A DIRECT IMPACT ON SMALL GRAIN AND FIBER PRICES IN THE U-S. AL PELL FINDS OUT WHY IN TODAY'S ANALYSIS. AL.
ANALYSIS:
FOR A FREE TWO WEEK TRIAL TO JIM'S DAILY GLOBAL MARKET LETTER, CALL BOWER TRADING TOLL FREE AT 1-800-533-8045.
PROFIT BRIEFING TEASE:
WHOA. HOW MUCH LONGER CAN THIS SLIDE IN CORN AND SOYBEAN MARKETS LAST?

WE'LL TALK ABOUT IT IN PROFARMER PROFIT BRIEFING FRIDAY ON AGDAY,

WX: WE'RE BACK NOW ON AGDAY WITH A CHECK OF WEATHER. MIKE, YOU KNOW I'M JUST WEEKS OUT FROM THIS BABY ARRIVING, AND EVERYBODY WARNED ME OF THIS BRUTAL SUMMER HEAT. WELL, I WANT TO THANK YOU BECAUSE THIS JULY SO FAR HAS BEEN SO NICE. IT REALLY HAS. AND I DON'T SEE AN END TO THAT IN THE MIDWEST. WELL, NEXT WEEK I SAW WE'RE GOING TO HAVE A BIG DIP IN TEMPERATURES AND SOMEBODY ALREADY CALLED IT THE POLAR VORTEX. SO, CAN WE CAN PUT, YOU KNOW, PUT THAT TO REST RIGHT HERE ON AGDAY. YOU KNOW, WE CAN PUT AN END TO THAT. I DIDN'T USE THE TERM LAST WINTER BECAUSE IT NEVER ACTUALLY MADE IT INTO THE UNITED STATES. IT'S BEEN IN THE TEXT BOOK ALL THESE YEARS BUT SUDDENLY, SOMEBODY COINED IT LAST YEAR NOW EVERYBODY USES IT. SO, NEXT WEEK, WHEN WE COOL DOWN, THAT'S NOT POLAR VORTEX CORRECT? NO, WELL IT IS COMING FARTHER SOUTH AND IT'S HELPING TO BRING THE COLD AIR, BUT NO, IT'S GOING TO BE NOTHING LIKE THAT. IT WILL BE COLD FOR THIS TIME OF THE YEAR THOUGH. THOUGH THE MIDDLE OF THE COUNTRY AND THAT'LL HELP KEEP YOU COOL TYNE AS WE HEAD THROUGH THE END OF YOUR PREGNANCY HERE. HERE'S THE WEATHER MAP THIS MORNING, HIGH PRESSURE SITTING OVER THE GREAT LAKES. NOW THE THUNDERSTORM ALONG THAT COLD FRONT COULD BRING SOME NICE RAINS TO SOME VERY PARCHED AREAS AS WE SAW ON THE FIRST LOOK AT WEATHER. AND HOPEFULLY THAT WILL OCCUR PARTS OF VIRGINIA AND NORTH CAROLINA. THAT'S A LOWS MOVING COLD FRONT THERE. SO, HOPEFULLY SOME OF YOU FOLKS GET SOME DESCENT RAINS OUT OF THAT. BUT HIGH PRESSURE KEEPING MOST OF THE CORN BELT DRY…THERE WILL BE SOME SHOWERS AND THUNDERSTORMS BUT MOST OF THAT WILL BE FOCUSED FARTHER NORTH WHERE THE COLD FRONT IS SWEEPING ACROSS MONTANA AND THE DAKOTAS AND THE WILL PRODUCE SOME RAIN OFF TO THE EAST OF IT AS WE MOVE THROUGH TONIGHT, AND ON INTO THE DAY TOMORROW, YOU CONTINUE TO SEE THIS FRONT IS KIND OF HANGING UP IN THE SOUTHEAST AND SO HOPEFULLY SOME OF THOSE REAL DRY AREAS ALONG THE EAST COAST GET SOME RAIN OUT OF THIS. AND YOU CAN SEE THE AFTERNOON VARIETY THUNDERSTORMS BACK INTO THE ROCKIES AS WE HEAD THOUGH TOMORROW AFTERNOON ONCE AGAIN. PRECIPITATION ESTIMATES OVER THE PAST 24 HOURS, YOU CAN SEE MOST OF IT'S BEEN FOCUSED OVER THE SOUTHERN MISISSIPPI VALLEY ON TO THE MID ATLANTICA. AND THAT'S GOING TO BE THE SAME FOCUS. WE ADD ON THE NEXT 36 HOURS AND THAT'S WHERE THE HEAVIEST RAIN WILL PROBABLY OCCUR ALONG WITH FLORIDA. THERE WILL BE A FEW POCKETS, BUT IT WON'T BE THE GENERAL RULE ACROSS EH NORTHERN CENTRAL PLAINS FOR 1 TO 2 INCHES IN SOME OF THOSE HEAVIER STORMS. THE HEAT CONTINUES FOR WEST TEXAS AND SOUTH TEXAS BUT YOU CAN SEE MOST OF THE CORN BELT VERY PLEASANT FOR THIS TIME OF YEAR. GREAT LAKES LOW 70S EVEN A FEW UPPER 60S FOR A HIGH TEMPERATURE THIS AFTERNOON. AND TONIGHT WE'RE GOING TO SEE LOTS OF LOWS IN THE EH 50 AND 60S ALL THE WAY DOWN IN THE OHIO RIVER VALLEY. EVEN A SLIGHT COOL DOWN ALMOST TO THE GULF COAST…AND THEN YOU CAN SEE THE HEAT STARTS TO BUILD BACK INTO PARTS OF OKLAHOMA AND KANSAS TOMORROW, BUT IT STAYS VERY PLEASANT FOR THE GREAT LAKES AND THE NORTHEAST. THAT'S ALL BECAUSE OF THIS TROPH THAT CONTINUES TO MOVE EASTWARD. THEN YOU SEE THE RIDGE BUILD UP. HERE'S WHAT TYNE WAS MENTIONING. AGAIN, I WOULDN'T CALL IT THE POLAR VORTEX, EVEN THOUGH IT'S APIECE OF IT. BUT IT WILL BRING A VERY GOOD TROPH TO THE EASTERN HALF OF THE COUNTRY. PROBABLY THE COOLEST AIR WE'VE SEEN IN 2 OR 3 WEEKS FOR THAT PARTS OF THE COUNTRY A WELL. AND THAT'S A LOOK ACROSS THE COUNTRY NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS. FIRST OF ALL FOR PUEBLO COLORADO TODAY PARTLY SUNNY AND HOT, A THUNDERSTORM IN SOME SPOTS…A HIGH TEMP UP TO 97…RINELANDER WISCONSIN, PARTLY SUNNY AND QUITE PLEASANT…HIGH OF 72…AND FINALLY AUGUSTA MAINE VARIABLY CLOUDY, PLEASANTLY WARM…HIGH OF 78
TEASE:
IF THESE HIGH GAS PRICES ARE TAKING A BITE OUT OF YOUR WALLET, YOU'LL WANT TO STAY TUNED. WE'LL TELL YOU WHEN YOU COULD FINALLY SEE SOME RELIEF.
ITC ADVOCATING FOR AG:
MOST AMERICANS TODAY DON'T HAVE MUCH KNOWLEDGE OF AGRICULTURE AND FOOD PRODUCTION. SO, THEY ARE SUSCEPTIBLE TO INCORRECT INFORMATION ABOUT BEEF AND HOW IT IS PRODUCED. FILLING THAT INFORMATION GAP WITH THE TRUTH ABOUT HOW PRODUCERS WORK TO PROVIDE SAFE AND NUTRITIOUS BEEF IS ONE GOAL OF THE BEEF CHECKOFF -- AND IT IS A PART OF DAILY ACTIVITY FOR ONE SOUTH DAKOTA BEEF PRODUCING FAMILY, AS BRIAN BAXTER REPORTS.
ITC TAG:
THANKS, BRIAN. THAT'S ONE PASSIONATE COUPLE. THE HADRICKS HAVE LAUNCHED THEIR OWN WEBSITE TO HELP WITH THEIR AG ADVOCACY MOVEMENT. IT'S ADVOCATES FOR AG DOT COM. DON'T GO ANYWHERE, FOOD AND YOUR FAMILY IS NEXT.
CLOSE:
CLINTON…THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR MIKE HOFFMAN, AND AL PELL. I'M TYNE MORGAN. HAVE A GREAT DAY.

See Comments

RELATED TOPICS: Daily Recap

 

MARKETS

CROPSLIVESTOCKFINANCEENERGYMETALS
Market Data provided by Barchart.com
Enter Zip Code below to view live local results:
bayer
 
 
The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by AmericanEagle.com|Site Map|Privacy Policy|Terms & Conditions