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USFR Weekly Recap - August 18-19, 2012

August 18, 2012

 

THIS WEEK ON U.S. FARM REPORT

EPISODE # 2036
AUGUST 18-19, 2012

 

JOHN’S OPEN:

Hello and welcome to U.S. Farm Report, I’m John Phipps. The drama of the drought has just about exceeded the attention span for much of America, even as many producers are still experiencing ongoing damage. For my part of the world, the anticipation of this year's harvest is closer to what you might expect for an upcoming root canal than an annual payday. In fact, the gallows humor is popping up to combat this tension. One neighbor said he was going to harvest 24 hours a day this year. When asked why on earth he would do that, he said he wanted to make sure he got one truckload a day. Ba-dump-bump. It doesn't help much, but you've got to admire the spirit.

HEADLINES:

Farmland values still remain strong despite the drought. Both the Federal Reserve Bank of Chicago and Kansas City issued the results of its most recent survey of bankers this week. With all eyes on drought-ravaged fields in the heart of the corn belt, ProFarmer's annual Midwest crop tour will be one to watch closely. While corn production is down, peanut production is having a big year. USDA pegs the crop at 5.3 billion pounds, up 46% from last year. 69% of the U.S. peanut crop is rated in good to excellent condition. USDA says record high yields are expected in Georgia and Florida

CROP WATCH:

Crop watch this week takes us to an Illinois farm where this year's corn crop is turning into an ugly one.

ROUNDTABLE:

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