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AgDay Daily Recap -May 1, 2013

May 1, 2013
 
 

TODAY ON AGDAY

MAY 1, 2013

 

PLANTING DELAYS:

GOOD MORNING I'M CLINTON GRIFFITHS. USDA MAY NEED TO RE-CONSIDER RE-NAMING ITS CROP PROGRESS REPORT AFTER ANOTHER SLOW WEEK IN THE NATION'S CORNBELT.

I-80 TOUR:

WE ARE MORE THAN HALF WAY ACROSS OUR INTERSTATE 80 PLANTING TOUR, AND NATIONAL REPORTER TYNE MORGAN HAS YET TO SEE PLANTING TAKE PLACE DURING HER FOUR PREVIOUS STOPS. HER NEXT STOP - NORTHERN INDIANA. WITH TEMPERATURES ON THE RISE, AREA FARMERS MAY GET A SMALL WINDOW TO PLANT TODAY AND TOMORROW.. BUT WITH RAIN IN THE FORECAST THE REST OF THE WEEK, IT LOOKS LIKE PROGRESS COULD BE LIMITED. WHILE CORN AND SOYBEAN FUTURES RALLIED MONDAY ON WEATHER CONCERNS. PROFARMER EDITOR CHIP FLORY SAYS THE MARKET WILL ADJUST, AS IT UNDERSTANDs AT SOME POINT THIS YEAR, THE PLANTING REPORT WILL SHOW 100 PERCENT PLANTED.  BUT LATER PLANTING COULD MEAN FEWER CORN ACRES.

CATTLE PRICES:

CATTLE FUTURES FOUND A SLIGHT FOOTING ON TUESDAY....RISING FOR THE FIRST TIME IN THREE SESSIONS. THE DRIVER, A SLOWLY IMPROVING DEMAND FOR U.S. BEEF. WHOLESALE BEEF PRICES HIT A SIX WEEK HIGH ABOVE 1-94 A POUND AND ITS ON TRACK FOR THE BIGGEST MONTH GAIN SINCE OCTOBER. THE CHANCE OF WARMER WEATHER AND UPCOMING MEMORIAL HOLDAY SHOULD BOOST MEAT DEMAND.

CROP WATCH:

WHILE IT'S BEEN A LOT OF WAITING FOR FARMERS THIS SPRING, THERE ARE FEW POCKETS OF PROGRESS. MIKE HOFFMAN HAS DETAILS FROM THE LUCKY ONE'S IN THIS MORNING'S CROP WATCH.

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