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USFR Weekly Recap - April 20-21, 2013

April 20, 2013

                                                                                                                                                                                             

THIS WEEK ON U.S. FARM REPORT

EPISODE # 2071

APRIL 20-21, 2013   

 

JOHN’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. WHILE IT WAS OVERSHADOWED BY THE DOUBLE TRAGEDIES OF THIS WEEK, THE NOSEDIVE IN GOLD RIVETED WALL STREET ON MONDAY. IT MAY NOT BE OVER YET BUT THERE SEEMS TO BE ONE CONSISTENT EXPLANATION WITH ECONOMISTS: AS LACKLUSTER AS THE GLOBAL ECONOMY IS, IT IS NOT HOPELESS. GOLD IS AN INVESTMENT BASED ON FEAR. IT HAS VALUE ONLY BECAUSE WE THINK IT DOES, CERTAINLY NOT BECAUSE IT CAN GENERATE INCOME. I'M SURE MANY OTHER REASONS WILL BE OFFERED FOR ITS PRICE DROP. MINE IS SIMPLER. I THINK PEOPLE JUST GOT BORED WITH BEING AFRAID OF THE FUTURE.
HEADLINES:

THANK YOU JOHN. OFFICIALS ARE STILL SIFTING THRU THE RUBBLE OF A WEST TEXAS FERTILIZER PLANT AFTER IT EXPLODED THIS WEEK. ANOTHER WEEK, ANOTHER BIG WEATHER CHALLENGE FOR MANY FOLKS ACROSS THE NATION'S MIDSECTION. FROM RECORD SNOW IN THE DAKOTAS TO TORNADOES IN THE PLAINS. AND THE CORNBELT IS SATURATED RIGHT NOW. THE NATIONAL WEATHER SERVICE ISSUED WATCHES AND WARNINGS ACROSS THE REGION THURSDAY AS RAIN FELL AT THE RATE OF ONE INCH AN HOUR. DOWNPOURS ARE CAUSING RIVERS TO TOP THEIR BANKS IN MISSOURI, IOWA AND ILLINOIS. FIELD TILES ARE RUNNING FULL FOR MANY FARMERS. MIKE HOFFMAN WILL TAKE A CLOSER LOOK IN WEATHER. IN THE LATEST USDA CROP PROGRESS REPORT REITERATES WHAT MANY PRODUCERS ACROSS THE COUNTRY ALREADY KNOW. WE'RE FALLING BEHIND IN PLANTING THIS SPRING. COTTON WORLD ENDING STOCKS COULD REACH A NEW RECORD. THAT'S ACCORDING TO THE LATEST U-S DEPARTMENT OF AG COTTON PROJECTIONS. THE AGENCY SAYS STOCKS COULD REACH MORE THAN 82 MILLION BALES. THAT'S NEARLY 20 PERCENT HIGHER THAN LAST YEAR AND A 77 PERCENT SPIKE IN THREE YEARS. TWO LEADING AG ECONOMISTS AT THE UNIVERSITY OF ILLINOIS THINK THE GOVERNMENT SHOULD CONSIDER TEMPORARILY FREEZING THE RENEWABLE FUELS STANDARD.

CROP WTACH:

CROPWATCH THIS WEEK BEGINS IN COLORADO WHERE ONCE AGAIN SNOW IS NOT GIVING-UP. COLORADO HAD MORE THAN 15 INCHES EARLIER THIS WEEK. THERE WAS A SIMILAR STORM TWO WEEKS AGO. "NASS" SAYS COLORADO ROW CROPS - LIKE ONIONS AND SUGARBEETS - ARE STARTING TO GET BEHIND IN PROGRESS. FROM DOUGLAS COUNTY, MINNESOTA, A FARMER POSTED ON AGWEB THAT THERE IS VERY LITTLE BARE GROUND AROUND HERE. MOST OF THE DITCHES ARE AT LEAST HALF FULL. THERE IS STILL A LOT OF ICE ON AREA LAKES AND NO SIGN OF A THAW.

ROUNDTABLE:

GREGG HUNT AND BILL BIEDERMANN JOIN AL AT THE MARKETING ROUNDTABLE.

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