AgDay Daily Recap -September 23, 2013

September 23, 2013 04:57 AM
 

TODAY ON AGDAY

SEPTEMBER 23, 2013

 

NUTRITION BILL:

CAN WASHINGTON LAWMAKERS SETTLE ON A NEW FIVE YEAR FARM BILL BEFORE THE SEPTEMBER 30TH DEADLINE.

RABOBANK:

U-S FARMLAND IS STILL AN ATTRACTIVE INVESTMENT, EVEN IF THE EXTREMELY LOW INTEREST RATES AND THE HIGH COMMODITY PRICES DISAPPEAR. THAT'S THE OUTLOOK FROM RESEARCHERS AT RABO-BANK. ANALYSTS FOR THE COMPANY EXPECT LOWER GRAIN PRICES WILL CONTINUE THIS YEAR. BUT THEY WON'T BE LOW ENOUGH, LONG ENOUGH, TO SUBSTANTIALLY IMPACT LAND VALUES OVER THE COMING YEAR OR SO. BUT AFTER THAT, IT'S NOT SO CLEAR.

CALIFORNIA:

ROBO-BANK SAYS WESTERN U-S AGRICULTURAL LAND VALUES ARE EXPECTED TO MOVE IN THE SAME DIRECTION AS THOSE IN THE MIDWEST. THIS IS DUE IN LARGE PART TO THE DIVERSITY OF CROPS GROWN IN THE REGION. ORCHARDS, VINEYARDS AND IRRIGATED LAND IN THE WESTERN U.S. HAVE SEEN EXTREME INCREASES IN LAND VALUES DUE TO STRONG MARKET PRICES AND GROWING EXPORT DEMAND.
MAINSTREET:

THE MONTHLY RURAL MAINSTREET INDEX - AS COMPILED BY ECONOMIST ERNIE GOSS AT CREIGHTON UNIVERSITY - SHOWS THE RURAL ECONOMY IS ADVANCING AT A SLOWER PACE.
BASED ON SURVEYS WITH RURAL BANKERS, FARMLAND CASH RENTS EXPANDED BY NEARLY TEN PERCENT OVER THE PAST YEAR. BUT THE FARMLAND PRICE INDEX DECLINE, AS DID FARM EQUIPMENT SALES. LOWER GRAIN PRICES ARE KEY. HE SAYS MANY FARMERS ARE STORING GRAIN OFF THE COMBINE, WAITING FOR STRONGER PRICES.

APPLE CROP:

MICHIGAN IS THE THIRD LARGEST APPLE PRODUCER IN THE COUNTRY - AFTER WASHINGTON AND NEW YORK. LAST YEAR, MOTHER NATURE DIDN'T HAND MICHIGAN GROWERS ANY FAVORS, BUT THIS YEAR'S IT'S A MUCH DIFFERENT STORY. THE MICHIGAN APPLE COMMITTEE SAYS THIS YEAR'S CROP could PUMP UP TO 900 MILLION DOLLARS INTO THE STATE'S ECONOMY. NATIONAL REPORTER TYNE MORGAN TAKES US TO THE ORCHARD WHERE THE CROP IS BLOSSOMING INTO A BIN BUSTER.

CROP WATCH:

FARMERS IN OHIO AND NORTH CAROLINA ARE VERY HAPPY WITH WHAT THEY'RE SEEING ON THE YIELD MONITOR. MIKE HOFFMAN TELLS US WHY IN CROPWATCH. GOOD MRONIGN MIKE.

MACHINERY PETE:

TODAY WE'RE INTRODUCING A NEW SERIES. WE CALL IT MONDAY'S WITH MACHINERY PETE.
FOR THOSE OF YOU NOT FAMILIAR WITH GREG PETERSON, KNOWN AS MACHINERY PETE, HE'S THE WHO'S WHO OF USED EQUIPMENT. MACHINERY PETE HAS BEEN TRACKING FARM AND CONSTRUCTION EQUIPMENT PRICES SINCE 1989. SO, HIS DATA BASE IS IMPRESSIVE, AND SO IS HIS KNOWLEDGE ON USED EQUIPMENT. WE CAUGHT UP WITH HIM AT FARM PROGRESS SHOW A COUPLE WEEKS AGO TO GET HIS INPUT ON THE LATEST USED EQUIPMENT NEWS.

SMITHFIELD:

IN AGRIBUSINESS TODAY - THE LARGEST SHAREHOLDER OF SMITHFIELD FOODS SAYS IT WILL VOTE YES ON A PROPOSED TAKEOVER BY CHINESE FIRM SHUNG-WAY INTERNATIONAL. STARBOARD VALUE LP HAS BEEN LOOKING FOR ANOTHER BIDDER TO OFFER A BETTER DEAL.
THE GROUP HOWEVER, SAYS IT CAME UP EMPTY. IT'S NOW PREPARED TO ACCEPT SCHUNGWAY'S OFFER OF 34 DOLLARS PER SHARE.

ANALYSIS:

IN ANALYSIS THIS MORNING FARM DIRECTOR AL PELL DISCUSSES THE WHEAT CROP AND WHEAT MARKETS FROM A PACIFIC PERSPECTIVE.

PRISON HORSES:

FOR THE THIRD YEAR IN A ROW, THE ARKANSAS PRISON SYSTEM WILL AUCTION OFF DOZENS OF ITS HORSES NEXT MONTH. A SPOKESPERSON SAYS THE AUCTION IS AIMED AT FINDING GOOD HOMES FOR THE RETIRED HORSES WHILE RAISING MONEY, TOO. KELLY DASCHLE HAS OUR STORY.

ITALY WINE:

PICKING GRAPES BY HAND IS HARD WORK. BUT FOR MANY WINE MAKERS - ESPECIALLY IN ITALY - THERE 'IS' NO OTHER WAY.

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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