AgDay Daily Recap -April 15, 2014

April 15, 2014 02:57 AM
 

TODAY ON AGDAY

APRIL 15, 2014

 

WILD WEATHER:

GOOD MORNING I'M CLINTON GRIFFITHS. IT MAY BE SPRING ON THE CALENDAR BUT TEMPERATURES MANY PLACES IN THE U.S. FEEL MORE LIKE WINTER THIS MORNING.

WHEAT PRICES:

WITH WINTER WHEAT JOINTING A HARD FREEZE OR TEMPERATURES IN THE LOW TO MID TWENTIES COULD DAMAGE THE CROP. WHEAT PRICES REACTED TO THE NEWS MONDAY. WHEAT FUTURES CLIMBED ABOUT 20 CENTS IN CHICAGO AND KANSAS CITY. RISING TENSIONS IN THE UKRAINE OVER THE WEEKEND ALSO HELPED TO PUSH PRICES HIGHER.
BACK HOME, AGRONOMISTS SAY IT COULD BE A COUPLE OF WEEKS BEFORE THE EXTENT OF ANY COLD WEATHER DAMAGE IS KNOWN.

CROP PROGRESS:

WINTER WHEAT THAT'S JOINTING OR ALREADY HEADED OUT IS MOST VULNERABLE TO THE COLD. USDA ROLLED OUT ITS WEEKLY CROP PROGRESS REPORT LATE MONDAY AFTERNOON.

SOYBEAN SALES:

SOYBEANS ARE BACK UP IN EARLY TRADE, AFTER A COUPLE OF DOWN DAYS. CHINA IS EXPECTED TO START CANCELING CARGOS AS CRUSH MARGINS NEAR BREAK EVEN. THE U.S. SOYBEAN EXPORT COUNCIL SAYS, IMPORTERS COULD DEFAULT ON AS MUCH AS 2 MILLION METRIC TONS OF SHIPMENTS.

CROP WATCH:

AS PRODUCERS WAIT TO GET IN THE FIELDS, MIKE HOFFMAN HAS OUR FIRST LOOK AT FARM COUNTRY WEATHER.

MILK PRICE OUTLOOK:

DESPITE DAIRY FARMERS PRODUCING MORE MILK, DAIRY PRICES REMAIN REALLY STRONG.
AND THE U-S DEPARTMENT OF AGRICULTURE DOESN'T SEE THAT CHANGING ANYTIME SOON.

DAIRY EXPORTS:

AND THOSE DAIRY EXPORTS REMAIN SOLID. THE U-S DAIRY EXPORT COUNCIL SAYS FEBRUARY'S EXPORTS JUMPED UP 37 PERCENT FROM A YEAR AGO.  THAT'S THE BIGGEST INCREASE EVER.  THE PRICETAG OF THOSE GOODS CAME IN AT 585 MILLION DOLLARS, WHICH IS THE HIGHEST IN SIX MONTHS. THE INCREASE WAS LED BY STRONG CHEESE, WHEY AND BUTTERFAT SALES.  CHINA REMAINS A TOP CUSTOMER.

CORN SHIP:

AS WE REPORTED LAST WEEK, LATER THIS MONTH CHINA WILL BEGIN SOURCING GRAIN OUT OF BRAZIL. HOWEVER, NEW EXPORT NUMBERS SHOW THE U.S. SHIPPED 57 MILLION BUSHELS OF CORN TO EXPORT CUSTOMERS LAST WEEK. THAT IS THE LARGEST WEEKLY TOTAL SINCE JANUARY 2008.

BEES PESTICIDE:

THERE IS CONCERN WORLDWIDE ABOUT HONEY BEES DISAPPEARING, AND HOW IT COULD AFFECT THE ENVIRONMENT AND THE ABILITY TO GROW FOOD. AGRICULTURE IS IMPACTED AS FARMERS NEED BEES TO POLLINATE CROPS. BUT PESTICIDES USED ON HARMFUL INSECTS MAY BE ONE OF SEVERAL REASONS BEES ARE DYING.  IN THIS REPORT PROVIDED BY THE UNIVERSITY OF TENNESSEE, CHUCK DENNEY TELLS US ABOUT NEW EFFORTS TO FIND A WAY FOR BEE PRODUCTION AND CROP PRODUCTION TO CO-EXIST.

BIOFUELS:

NEW DATA OF GLOBAL BIOFUEL PRODUCTION SHOWS ETHANOL AND BIODIESEL FELL FOR THE FIRST TIME SINCE 2000. THESE NUMBERS ARE FROM 2012. PRODUCTION AS DOWN ABOUT A HALF OF PERCENTAGE POINT FROM THE PREVIOUS YEAR. THE U.S. AND BRAZIL MAKE UP 87 PERCENT OF THE WORLD'S ETHANOL PRODUCTION.

CME LAWSUIT:

A GROUP OF TRADERS IS SUING CME GROUP OVER WHAT IT CALLS UNFAIR DATA ACCESS FOR HIGH FREQUENCY TRADERS.  THE SUIT ALLEGES THAT SINCE 2007, THE CME HAS BEEN SELLING MARKET DATA TO ELECTRONIC TRADERS CHEATING OTHER INVESTORS WHO DIDN'T HAVE THAT INFORMATION. IN A STATEMENT THE CME SAYS THE CASE IS DEVOID OF ANY FACTS SUPPORTING THE ALLEGATION AND DEMONSTRATES A FUNDAMENTAL MISUNDERSTAING OF HOW THE MARKETS OPERATE. THE COMPLAINT WAS FILED FRIDAY IN THE U.S. DISTRICT COURT IN CHICAGO.

ANALYSIS:

A WEEK AGO TODAY, CME'S ELECTRONIC TRADING SHUT DOWN MID AFTERNOON. AND THE CLOSING NUMBERS RELIED SOLEY ON THE PIT FLOOR.  BUT IS THE PIT A GOOD BACK UP PLAN?  FARM DIRECTOR AL PELL TALKS ABOUT THAT AND THE WORLD OF ELECTRONIC TRADE IN THIS MORNING'S ANALYSIS.

REDWOOD TREES:

GIANT REDWOOD TREES HAVE WITHSTOOD THE TEST OF TIME. THEY'VE SURVIVED WILD WEATHER AND WILD FIRES. BUT DESPITE THE MIGHTY NAME, GIANT REDWOODS ARE AT RISK. CALIFORNIA FOREST MANAGERS ARE TRYING TO STOP CHAINSAW-WIELDING POACHERS WHO ARE TARGETING THE ANCIENT TREES IN NATIONAL AND STATE PARKS. THE THIEVES ARE CUTTING OFF THE TREES' BURLS - THE KNOBBY GROWTHS PRIZED FOR THEIR RICH WOOD GRAINS. TERRY CHEA HAS DETAILS OF THE TREES AT RISK.

SWEET GENES:

DO YOU STRUGGLE CONTROLLING THE AMOUNT OF SWEETS YOU EAT? LIKE MANY HEALTH PROBLEMS, IT COULD BE IN THE FAMILY GENES. AN ARTICLE ON FOODNAVIGATOR.COM SAYS FIFTY PERCENT OF OUR PREFERENCES FOR SWEET FOODS AND DRINKS CAN BE ATTRIBUTED TO GENETICS. A RESEARCHER AT THE UNIVERSITY OF HELSINKI, FINLAND SAYS LAWMAKERS COULD BE FIGHTING A LOSING BATTLE IF THEY HOPE PEOPLE WILL REDUCE THE CONSUMPTION OF SOFT DRINKS AND SWEET SNACKS JUST BY WRITING A NEW LAW. THE FINNISH RESEARCHER SAYS THIS SHOULD NOT BE MIS-CONSTRUED AS A REASON TO OVER-INDULGE ON SWEETS.

FLOAT FOR FOOD:

IN FOOD AND YOUR FAMILY - ABOUT 50 CARDBOARD BOATS AND CREWS TOOK TO THE WATER THIS PAST WEEKEND TO HELP A FOOD BANK WHICH SERVES PEOPLE IN NEED. IT'S A FUNDRAISER PUT ON BY THE UNIVERSITY OF MISSOURI'S COLLEGE OF AGRICULTURE, FOOD AND NATURAL RESOURCES.

 

 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
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