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AgDay Daily Recap -March 28, 2013

March 28, 2013
 
 

TODAY ON AGDAY

MARCH 28, 2013

 

PLANTING INTENTIONS:

GOOD MORNING I'M CLINTON GRIFFITHS. THE INDUSTRY WILL BE WATCHING CLOSELY THIS MORNING AS THE DEPARTMENT OF AGRICULTURE RELEASES A HOST OF KEY REPORTS THAT COULD SHAKE-UP THE MARKET.

SEED SUPPLY:

PLANTING IS UNDERWAY IN THE SOUTH. IN THE SOUTHEAST FIELDWORK IS DELAYED DUE TO EXCESSIVE MOISTURE, WHILE TEXAS IS REPORTING ABOUT HALF OF THE CORN PLANTED. BUT ALL OF IT TAKES SEED. REGIONAL REPORTER MICHELLE ROOK LOOKS AT THE STATUS OF SEED CORN SUPPLIES AND SOME OF THE NEW QUALITY ISSUES EMERGING OVER THE WINTER IN SOYBEAN SEED. WHEN THAT SEEDS HITS THE GROUND IT LOOKS LIKE PRODUCERS ARE WORKING TO PROTECT IT. LINDSAY CORPORATION SAYS ITS IRRIGATION EQUIPMENT REVENUES ARE UP 41 PERCENT HERE IN THE U.S. THEY SAY HIGHER COMMODITY PRICES, RECORD FARM INCOMES AND HISTORIC DROUGHT CONDITIONS ARE DRIVING SALES. SOME LOCAL UTILITY COMPANIES SAY THEY'RE HAVING A HARD TIME KEEPING UP WITH INSTALLATIONS. LINDSAY'S SECOND QUARTER REVENUES SET A NEW RECORD FOR THE COMPANY.

WHEAT QUOTA:

IN RELATED NOTE, THE USDA SAYS THERE WILL BE NO MARKETING QUOTA FOR THE 2014 WHEAT CROP. MARKETING QUOTAS GO BACK TO 1938 FARM LAW-- THAT REQUIRED THE AG SECRETARY TO SET GOALS OR LIMITS FOR WHEAT PRODUCTION FOR NEXT SEASON BY MID APRIL. USDA SAYS IT'S BEING PROACTIVE AND MAKING THE ANNOUNCEMENT IN CASE A NEW FARM BILL ISN'T PASSED BY CONGRESS THIS YEAR. THE CURRENT EXTENSION RUNS OUT IN SEPTEMBER.

CROP WATCH:

SOME PLANTING IS NOW ON DELAY WHILE SOME IS YET TO START. MIKE HOFFMAN HAS A LOOK AT FIELDWORK AROUND FARM COUNTRY IN THIS MORNING'S CROP WATCH. GOOD MORNING MIKE.

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