AgDay Daily Recap -May 12, 2014

May 12, 2014 02:57 AM
 

TODAY ON AGDAY

MAY 12, 2014

 

USDA REPORT:

GOOD MORNING I'M CLINTON GRIFFITHS. WE BEGIN A NEW WEEK WITH PLANTING PROGRESS STILL BEHIND IN MANY PARTS OF THE COUNTRY. BUT DESPITE DELAYS, THE AG DEPARTMENT KEEPS YIELD POTENTIAL THE SAME FOR THE NATION'S CORN CROP.

CORN AND BEAN:

FIRST WE'LL LOOK AT CROP PRODUCTION. USDA IS FORECASTING THE CORN CROP TO COME IN AT 13.9 BILLION BUSHELS. THAT'S BASED ON AN  AVERAGE YIELD OF 165.3 BUSHELS PER ACRE. NEW CROP SOYBEAN PRODUCTION IS ESTIMATED TO HIT 3.6 BILLION BUSHELS. THAT WOULD BE A RECORD IF IT PROVES TRUE. USDA PUTS NATIONAL SOYBEAN YIELD AT JUST OVER 45 BUSHELS AN ACRE.

ENDING STOCKS:

IN ITS FIRST SUPPLY-AND-DEMAND ESTIMATES FOR THIS NEW CROP YEAR, USDA PEGGED 2014-15 CORN ENDING STOCKS AT ONE-POINT-SEVEN BILLION BUSHELS AND SOYBEAN ENDING STOCKS AT 330 MILLION BUSHELS. AS ALWAYS OUR PARTNERS AT PROFARMER NEWSLETTER SCRUTINIZED THE GOVERNMENT REPORTS. EDITOR BRIAN GRETE JOINS US FROM PROFARMER STUDIOS WITH HIS TAKE ON THE SOYBEAN MARKET, BRIAN.

WINTER WHEAT:

WINTER WHEAT PRODUCTION IS FORECAST AT ONE-POINT-FOUR BILLION BUSHELS, DOWN 9 PERCENT FROM 2013. USDA PEGS THE NATIONAL AVERAGE YIELD AT JUST OVER 43 BUSHELS, DOWN MORE THAN TWO BUSHELS FROM LAST YEARS CROP. WHILE WHEAT TOURS IN KANSAS AND OKLAHOMA TWO WEEKS AGO REVEALED SOME VERY POOR CONDITIONS IN THE CENTRAL AND SOUTHERN PLAINS, USDA IS STILL PROJECTING HARD RED WINTER WHEAT WILL COME IN AT 746 MILLION BUSHELS...UP SLIGHTLY FROM A YEAR AGO. THE AG DEPARTMENT SEES YIELD AND ACREAGE INCREASES IN THE DAKOTAS, MONTANA AND NEBRASKA. PRODUCTION ON SOFT RED WINTER WHEAT IS ESTIMATED DOWN 21 PERCENT AT 447 MILLION BUSHELS.

VERMONT LABELING:

MEANWHILE IN OTHER NEWS, THE GROCERY MANUFACTURERS' ASSOCIATION SAYS IT WILL FILE SUIT IN FEDERAL COURT WITHIN WEEKS OVER VERMONT'S NEW GMO LABELING LAW.
VERMONT LAWMAKERS EXPECTED THESE CHALLENGES AND SAY THEY WROTE THE LAW TO WITHSTAND A LEGAL ASSULT. THE VERMONT GOVERNOR ALSO ANNOUNCING A NEW WEBSITE TO RAISE FUNDS TO HELP FIGHT COURT BATTLES.

CROP WATCH:

WHILE WE WAIT ON NEW CROP PROGRESS NUMBERS FROM USDA...THOSE COME OUT LATER TODAY...WE'LL GET A CHECK ON CONDITIONS IN THIS MORNING'S CROP WATCH. CINDI CLAWSON IS IN FOR MIKE HOFFMAN THIS MORNING. SHE JOINS US FROM THE AGDAY WEATHER CENTER.

ANALYSIS:

IN AGRIBUSINESS WE CONTINUE OUR LOOK AT FRIDAY'S SUPPLY DEMAND REPORT WITH FARM DIRECTOR AL PELL. HE WANTS TO KNOW THE MARKET YEAR IMPACTS TO SOYBEAN GRAIN MARKETS FOLLOWING USDA'S UPDATED PROJECTIONS.

MACHINERY PETE:

MACHINERY PETE JOINS US NOW FOR HIS WEEKLY LOOK AT SOME OF THE BEST DEALS AROUND FOR USED EQUIPMENT. TODAY HE SAYS YOU MIGHT BE SURPRISED AT WHAT'S AVAILABLE WHEN IT COMES TO GREEN SEEDING DRILLS.

ROVING ROOSTER:

RETAIL STORES OFTEN RELY ON HIGH TECH SECURITY SYSTEMS TO PROTECT THEIR INVENTORY. BUT A HARDWARE STORE IN DALLAS TEXAS IS GOING "OLD SCHOOL"  AND NEW CUSTOMERS OFTEN GET THEIR 'FEATHERS RUFFLED' OVER THIS MASCOT. JOHN MONE HAS DETAILS OF THE ROVING ROOSTER ON PATROL.

ORANGE PRODUCTION:

IN FOOD AND YOUR FAMILY - ORANGE GROWERS HAVE SEEN A TURNAROUND IN THEIR CROPS FROM THE APRIL GOVERNMENT ESTIMATES. BUT THEY'RE STILL WELL BELOW LAST YEARS PRODUCTION. THE AG DEPARTMENT SAYS THE NATIONAL ALL ORANGE FORECAST FOR CURRENT YEAR IS SEVEN-POINT-TWO MILLION TONS. IT'S UP SLIGHTLY FROM LAST MONTH. BUT 13-PERCENT LOWER THAN LAST YEARS CROP. IN FLORIDA - THE ALL ORANGE FORECAST IS DOWN 17-PERCENT FROM LAST YEAR.

MILLENNIAL FARMER:

LAST WEEK THE USDA ANNOUNCED PLANS TO INVEST 78 MILLION DOLLARS INTO THE LOCAL FOOD MOVEMENT.

 

 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
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