Sep 23, 2014
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AgDay Daily Recap -June 23, 2014

June 23, 2014
 
 

 

TODAY ON AGDAY
JUNE 23, 201
 
OPEN HEADLINES:

COMING UP TODAY ON AGDAY - IT MAY BE RAINY WEATHER IN THE NORTHERN PLAINS BUT DROUGHT IS HANGING TOUGH OUT WEST. PLUS, OIL AND GAS PRICES ARE ON THE RISE. SO WE SAW A BIG MOVE AGAIN THIS WEEK IN CRUDE OIL GOLD SILVER AND I THINK AT THE END OF THE WEEK YOU KNOW THAT THAT'S WHAT AFFECTED OUR GRAINS FIRMING UP AND MEET A TEXAS WOMAN GETTING RECOGNIZED FOR HER WORK ON THE FARM. THE FARM MOM OF THE YEAR TODAY ON IN THE COUNTRY AGDAY-BROUGHT TO YOU BY THE CHEVY SILVERADO 2014 NORTH AMERICAN TRUCK OF THE YEAR.

IOWA FLOODING:

FLOOD WATERS ARE STARTING TO GO DOWN IN A SATURATED REGION OF THE NORTHWEST CORNBELT. FLOODING IN SOUTH DAKOTA AND IOWA INUNDATED THE BIG SIOUX RIVER LAST WEEK. IT CRESTED FRIDAY MORNING. IT WAS TWO FEET BELOW A RECORD LEVEL, BUT IT STILL FLOODED THOUSANDS OF ACRES OF FARMLAND. INTERSTATE 29 WAS SHUTDOWN FOR AWHILE. THE AREA GOT TEN INCHES OF RAIN LAST WEEK. SOUTHERN MINNESOTA WAS ALSO HEAVILY HIT WITH LARGE AMOUNTS OF RAIN.

 MACH PETE TEASE:
WELL I'M NOT TALKING HIGH AUCTION PRICES ON LARGE TRACTORS THIS WEEK FOLKS I'M TALKING HIGH AUCTION PRICES ON GARDEN TRACTORS STAY TUNED YOUR NOT GOING TO WANT TO MISS THESE PICTURES AND PRICES.)
ANALYSIS:

OUR GUEST TOMMY GRISAFI ADVANCE TRADING HERE AT THE AGRIBUSINESS DESK TOMMY YOU'VE BEEN A SPECULATOR FOR A LONG TIME SINCE YOU GOT INTO BUSINESS AND YOU KIND OF LOOK AT WHAT MOVES PRICES AND WHAT GOES AND I WOULD LIKE IF YOU DO IS TO SHARE WHAT HAS HAPPENED IN THE LAST WEEK ON THE PRICES OTHER THAN COMMODITY PRICES THAT CAN AFFECT US AND WHY. ABSOLUTELY AL WELL WE EXCITING WEEK AND THINGS LOOKED DOOM AND GLOOM AND THEY STILL DO FOR SOME MARKETS BUT PARTICULARLY CORN AND BEANS WE SAW SOME BIG UPDATES IN NOVEMBER BEANS AND DEC. CORN AND THERE MIGHT BE A MUCH BIGGER PICTURE THAN WHAT IT IT MAY NOT BE ABOUT THE FLOOD IT MAY BE ABOUT MONEY AND THE AMERICAN DOLLAR WAS WEAK TOGETHER FOREIGN CURRENCIES WERE STRONG OUR FED CAME OUT ONCE AGAIN CHAIRMAN YELLEN AND SHE SAID THAT WE ARE TO KEEP INTEREST RATES LOW FOR A LONG TIME THAT MEANS IF YOU GIVE THE GOVERNMENT HUNDRED THOUSAND DOLLARS IF YOU LET THEM HOLD IT FOR 10 YEARS THEY'LL GIVE YOU BACK 2.5 PERCENT THAT DOESN'T EXCITE PEOPLE AL THAT BARELY KEEPS UP WITH INFLATION SO PEOPLE ARE LOOKING TO MAKE YIELD THE AMERICAN FARMER KNOWS ABOUT YIELD AND THEY WANT TO MAKE MONEY THEY LOOK AT WHAT THERE WHAT PERCENT THEIR LAND MAKES OR WHAT PERCENT YOU KNOW IF THEY INVEST MILLIONS DOLLARS IN GROWING A CROP THEY WANT TO GET BACK MORE THAN $1 MILLION SO WITH EXTREMELY LOW YIELDS IN THE 30 YEAR AND 10 YEAR IT'S STARTING THE FED GAVE THE GREEN LIGHT TO GIVE COMMODITIES A LITTLE BOOST SO WE SAW A BIG MOVE AGAIN THIS WEEK IN CRUDE OIL GOLD SILVER AND I THINK AT THE END OF THE WEEK YOU KNOW THAT THAT'S WHAT AFFECTED OUR GRAINS FIRMING UP IS YOU KNOW A FIREMAN MIGHT LOOK AND SAY YEA I KNEW THE FLOODING IN MINNESOTA THAT'S WHAT DID IT IT MIGHT BE MUCH BIGGER PICTURE AND THAT NET MONEY FLOW BUT THAT CHEAP DOLLAR HAS PEOPLE SEARCHING TO INVEST IN THINGS AND GRAINS MIGHT LOOK CHEAP RIGHT NOW. AND THEY INVEST AS A FUND WE TALK ABOUT THE FUNDS AND THEY ARE GROWING AND ONE OF THE REASONS IS THAT THEY CAN MAKE MONEY INVESTING IN GRAIN AT THIS POINT OF TIME IS THAT RIGHT. THEY THINK SO THEIR SPECULATING THAT THEY COULD AND THAT'S WORTH A SHOT BECAUSE THEY KNOW FOR SURE IF THEY INVEST IT IN THE BOND THERE'S JUST NOT MUCH REWARD THERE. SO AS A SPECULATOR YOU LOOK AT IT THAT WAY BUT AS A PRODUCER NOW AND PUT YOUR SHOE ON HERE FOR 20 SECONDS OR SO. YEA. WHAT DO YOU THINK ABOUT THERE. I THINK THE AMERICAN FARMERS GROWING A CROP AND THEY NEED TO TAKE ITS FUNDS COMING TO BUY VICIOUSLY THE FUNDS CAME IN BY THE WHEAT AND THE UKRAINE THING THAT WAS AN OPPORTUNITY TO TAKE OFF RISK AND THE AMERICAN FARMER TAKES ENOUGH RISK THEY DON'T NEED TO TAKE ANY MORE SO WHEN YOU GET A CHANCE TAKE OFFERS THE ALWAYS LOOK AT THAT OPTION. TOMMY GRISAFI HERE AT AGDAY BACK WITH MORE IN A MOMENT.)

MACHINERY PETE:

THANKS, GREG. GREAT INFO AS ALWAYS .YOU CAN STAY UP TO DATE WITH THE LATEST DEALS BY FOLLOWING PETE ON TWITTER OR LIKING HIM ON FACEBOOK. HE'S ALSO FEATURED EVERY WEEK ON AGRITALK AND AGWEB DOT COM.

RFD PROMO:

MONDAY ON AGDAY, DROUGHT SUBSIDES IN THE HEARTLAND BUT CONTINUES TO INTENSIFY OUT WEST. OIL PRICES ARE ON THE RISE AND MEET THE FARM MOM OF THE YEAR. JOIN ME MONDAY MORNING 8 EASTERN ON RFD.

 

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