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USFR Weekly Recap - February 2-3, 2013

February 2, 2013

                                                                                                                                                                                             

THIS WEEK ON U.S. FARM REPORT

EPISODE # 2060

FEBRUARY 2-3, 2013  

JOHN’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. IT'S HIGH MEETING SEASON FOR MANY FARMERS, AS YOU CAN TELL FROM OUR COVERAGE IN THE LAST FEW WEEKS. MY IMPRESSION IS THEY ARE PRETTY LIVELY EVENTS THIS YEAR.  2013 IS BECOMING VERY HARD TO PREDICT MUCH OF ANYTHING ABOUT. WEATHER IS CERTAINLY A WILD CARD, GLOBAL ECONOMIES HAVE PROVIDED SURPRISES. DEMAND FOR COMMODITIES SURPRISES ALMOST DAILY. BUT I THINK WE'RE DISCOVERING AS AN INDUSTRY THAT A LITTLE FACE TIME WITH COLLEAGUES AND CONTACTS HELPS US COPE WITH THESE UNCERTAINTIES. THERE ARE STILL PLENTY OF MEETINGS TO GO. I SUGGEST YOU CONSIDER MAKING SOME NEW FRIENDS BY ATTENDING. TYNE MORGAN IS HERE WITH HEADLINES.

HEADLINES:

JAPAN IS RELAXING RESTRICTIONS ON U-S BEEF IMPORTS WHICH COULD PUT FURTHER DEMAND ON AN ALREADY SHRINKING HERD. JAPAN BANNED U-S BEEF IMPORTS IN 2003 AFTER THE BRAIN DISEASE KNOWN AS B-S-E WAS DISCOVERED IN THIS COUNTRY. THE OWNER OF THE CHICAGO BOARD OF TRADE APPEARS READY TO REDUCE THE LENGTH OF THE TRADING DAY FOR ITS GRAIN AND OILSEED MARKETS. FOR THREE BIG WINTER-WHEAT GROWING STATES, JANUARY WEATHER WAS LITTLE HELP. MUCH OF THE AREA THROUGH NEBRASKA, KANSAS, OKLAHOMA AND TEXAS SAW BELOW NORMAL PRECIPITATION AND RAINFALL.

CROP WATCH:
KEEPING WITH THE WHEAT THEME....

ROUNDTABLE:

IT'S TIME TO TALK MARKETS AS OUR ROUND-TABLE GATHERS AT THE 20-13 TOP PRODUCER SEMINAR. MORE THAN ONE THOUSAND PEOPLE FLOODED CHICAGO FOR THE 2013 TOP PRODUCER SEMINAR.  TOPICS RANGED FROM POLICY CHANGES TO THE BOOMING LAND PRICES AMONG PRODUCERS AND SPEAKERS. WE ALSO TALKED TRENDS DURING THIS WEEK'S ROUND-TABLE. JOINING ME ON STAGE WERE THREE LONG-TIME FAVORITES...MARK GOLD, BRIAN BASTING, AND GREGG HUNT.

JOHN’S WORLD:

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