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AgDay Daily Recap -July 22, 2013

July 22, 2013
 
 

TODAY ON AGDAY

JULY 22, 2013

 

WEST COAST PORTS:

GOOD MORNING I'M CLINTON GRIFFITHS. IT'S NO SECRET THAT CHINA HAS BECOME THE LARGEST EXPORT CUSTOMER FOR U-S SOYBEANS, BUT DO YOU KNOW WHAT IMPACT THAT DEMAND IS HAVING ON SHIPPING PORTS IN THE PACIFIC NORTHWEST? WHILE WE OFTEN TALK ABOUT THE SIGNIFICANCE OF THE MISSISSIPPI RIVER FOR GRAIN SHIPMENTS, YOU CAN'T OVERLOOK THE SIGNIFICANCE OF THE PACIFIC NORTHWEST. IN RECENT YEARS, THE AMOUNT OF SOYBEAN SHIPMENTS FROM THE P-N-W TO CHINA HAVE EXPLODED. THE EXPORT LOGISTICS ARE PROVING TO BE PROFITBLE FOR FARMERS IN SOUTH DAKOT AND WESTERN MINNESOTA. THE SOUTH DAKOTA SOYBEAN COUNCIL TOURED WASHINGTON STATE ON A 'SEE FOR YOURSELF TOUR' TO LEARN MORE. AGDAY REGIONAL REPORTER MICHELLE ROOK TRAVELED WITH THE GROUP TO GAUGE THE IMPACT.

MAINSTREET INDEX:

IT APPEARS THOSE HUGE LAND PRICES WE SAW ALL LAST YEAR MAY BE TEMPERED SOMEWHAT. A NEW STUDY CONDUCTED BY CREIGHTON UNIVERSITY SAYS THE RATE OF GROWTH IN U-S LAND PRICES HAVE SLOWED. GOSS SAYS THAT RURAL BANKERS EXPECT FARM INCOME THIS YEAR TO BE DOWN BY 3 PERCENT FROM LAST YEAR. HIS MAINSTREET INDEX ALSO SAYS FARM EQUIPMENT SALES ALSO SOFTENED FOR JULY.

CROP WATCH:

FOR THOSE OF US WHO STRUGGLED THRU THE SHARP WARM-UP LAST WEEK, THE WEEKEND PROVIDED RELIEF TO SOME. LET'S CHECK IN WITH METEOROLOGIST MIKE HOFFMAN FOR YOUR MONDAY MORNIGN CROPWATCH. MIKE.

MONSANTO:

MONSANTO SAYS IT'S OFFICIALLY DROPPING ALL REQUESTS TO GROW NEW GMO CROPS IN THE EUROPEAN UNION. THE COMPANY CLAIMS IT BOILS DOWN TO A LACK OF COMMERCIAL PROSPECTS. THE SEED GIANT SAYS INSTEAD, IT WILL FOCUS ON CONVENTIONAL SEEDS AND WORK TO SECURE IMPORT APPROVALS FOR GM CROPS GROWN IN THE U.S.  BASF MADE A SIMILAR MOVE LAST YEAR.

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