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AgDay Daily Recap -March 13, 2013

March 13, 2013
 
 

TODAY ON AGDAY

MARCH 13, 2013

 

WHEAT CONDITIONS:

GOOD MORNING I'M CLINTON GRIFFITHS. THE U.S. WINTER WHEAT CROP IS GETTING CLOSE TO BREAKING DORMANCY BUT THE MAJORITY OF THE ACRES WENT INTO THE FALL IN POOR TO VERY POOR CONDITION. MANY AREAS OF KANSAS CONTINUED TO RECEIVE MUCH NEEDED MOISTURE ACCORDING TO THE KANSAS "NASS" OFFICE. THE KANSAS WHEAT CROP HAS STARTED TO GREEN UP AND OPERATORS ARE TOP DRESSING FIELDS WHERE CONDITIONS PERMIT. ABOUT A THIRD OF THE KANSAS WINTER WHEAT CROP IS CALLED POOR TO VERY POOR...A THREE POINT IMPROVEMENT OVER LAST WEEK. 40-PERCENT IS FAIR. IN OKLAHOMA - THE RAINFALL AND SNOW FROM THE PAST FEW WEEKS HAVE IMPROVED WHEAT CONDITIONS, BUT 41 PERCENT OF WHEAT IS STILL RATED POOR TO VERY POOR... A SIX POINT IMPROVEMENT. 39-PERCENT IS FAIR IN OKLAHOMA. TEXAS WHEAT IS IN A SIMILAR SITUATION WITH 44-PERCENT RATED AS POOR TO VERY POOR, AN IMPROVEMENT OF JUST ONE PERCENTAGE POINTS. 38-PERCENT IS FAIR. HOWEVER, THE JURY IS STILL OUT ON WHETHER THIS IS ENOUGH OF AN IMPROVEMENT TO SAVE THE CROP. AT COMMODITY CLASSIC AGDAY'S MICHELLE ROOK TALKED TO PRODUCERS FROM VARIOUS PARTS OF THE COUNTRY TO FIND OUT WHAT THE PROSPECTS ARE IN THEIR AREA.

NASS REPORTS:
USDA'S NATIONAL AGRICULTURAL STATISTICS SERVICE IS SUSPENDING A NUMBER OF STATISTICAL SURVEYS AND REPORTS FOR THE REMAINDER OF THE FISCAL YEAR. "NASS" SAYS IT'S DUE TO REDUCED FUNDING CAUSED BY SEQUESTRATION. THE AGENCY SAYS IT SELECTED THE TEN REPORTS BASED, IN PART, ON HOW MUCH TIME IS LEFT IN THE MARKETING YEAR FOR THE SPECIFIC COMMODITY. AMONG THE LIST - MILK PRODUCTION REPORTS, THE JULY CATTLE REPORT, AS WELL AS CATFISH, POTATO AND RICE STOCKS.

CROP WATCH:

CORN PLANTERS ARE ROLLING IN THE SOUTH. CINDI CLAWSON HAS DETAILS IN THIS MORNING'S CROPWATCH. GOOD MORNING CINDI.

FARM LAND FUNDS:

IN AGRIBUSINESS..ACCORDING THE FARMLAND INVESTOR LETTER--THERE'S BIG MONEY WAITING IN THE WINGS TO BUY FARMLAND. ACCORDING TO MURRAY WISE-- A SPEAKER AT THE CHICAGO FED LAST WEEK,---HE SPECULATES AS MUCH AS 10 BILLION DOLLARS IN INSTITUTATIONAL CAPITAL IS NOW SEARCHING FOR A HOME U.S. AGRICULTURAL LAND. WISE SAYS SEVERAL GOOD YEARS FOR FARMERS IS KEEPING MUCH OF THAT MONEY LOCKED OUT OF THE MIDWEST...MOSTLY DUE TO HIGH LAND PRICES AND HIGH CASH RENTS. BUT OVERALL, INVESTER DEMAND IS GROWING.

AEM FLASH REPORT:

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