Sep 22, 2014
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USFR Weekly Recap - August 16-17, 2014, 2014

August 16, 2014

 

TODAY ON USFR
AUGUST 16-17, 2014
 
OPEN HEADLINES:
TODAY ON U-S FARM REPORT...THE BIG AUGUST CROP REPORT WAS NOT REALLY A BOMBSHELL. OUR PROFARMER COLLEAGUES GET SET TO MAKE THEIR ESTIMATE OF CORN AND SOY CROPS
AND LOW CROP PRICES HAVE A MAJOR MANUFACTURER PREPARING FOR SOFT SALES. U.S. FARM REPORT BROUGHT TO YOU BY THE ALL-NEW CHEVY SILVERADO. 2014 NORTH AMERICAN TRUCK OF THE YEAR...
JOHN OPEN:
HELLO AND WELCOME TO U-S FARM REPORT...WE MIGHT AS WELL GET THIS OVER WITH SINCE MOST OF YOU LOYAL VIEWERS ARE ALREADY NOTICING TYNE IS NOT BEHIND THE DESK THIS WEEK. AS SHE PREDICTED LAST WEEK, SHE DID NOT STAY PREGNANT FOREVER AS SHE WAS BEGINNING TO FEAR. IN FACT, ON SATURDAY, AUGUST NINTH, TYNE AND HUSBAND JAMES BECOME THE PROUD PARENTS OF KINSLER RENAE. SHE ARRIVED WITH THE FOLLOWING DIMENSIONS: 7 POUNDS, 12 OUNCES AND 20 INCHES LONG, THESE ARE EVEN MORE IMPRESSIVE IN METRIC, BY THE WAY. INTERESTINGLY, SHE WAS BORN ON THE SAME DAY AS HER FATHER, WHICH SUGGESTS ABOUT TWO DECADES UNTIL HIS BIRTHDAY RECEIVES MUCH NOTICE AGAIN. ACCORDING TO JAN, TYNE'S DELIVERY PROCESS WAS REMARKABLY BRIEF AND BUSINESS-LIKE, BUT THEN WE EXPECTED NOTHING LESS. EVERYONE INVOLVED IS DOING WELL, ALTHOUGH I HAD A FEW QUEASY MOMENTS DURING THE LABOR. WE WILL SOLDIER ON UNTIL SHE CAN RETURN TO DUTY. I'LL BE HANDLING THE ROUNDTABLES, SO I REALLY HOPE THE BOTTOM IS IN THE MARKETS. WE ARE HAPPY TO WELCOME A LONG-TIME FRIEND, TRISHA SLOMA AT THE NEWS DESK TO ADD SOME GROWN-UP SUPERVISION UNTIL TYNE RETURNS. HERE SHE IS NOW WITH THE HEADLINES.
PRODUCTION MEMBERS:
BY THE TIME HARVEST IS COMPLETED THIS FALL AND CORN AND BEAN CROPS ARE SAFELY STORED AWAY, PRODUCTION RECORDS COULD BE SHATTERED.
BRAIN GRETE:
EVEN THOUGH THE CORN CROP NEEDS SOME RAIN IN SOME AREAS TO FINISH STRONG, THE EXPECTATION IS THE EAR WEIGHTS COULD INCREASE FROM WHERE THEY WERE HERE IN AUGUST. ON THE SOYBEAN SIDE, THERE'S STILL A LOT OF WEATHER THAT WILL DETERMINE HOW THIS CROP WILL FINISH. AS THAT PLAYS OUT IT'LL DETERMINE IF THIS BIG SOYBEAN CROP GETS BIGGER.
CROP TOUR:
MEANWHILE THE PROFARMER MIDWEST CROP TOUR BEGINS THIS MONDAY. SCOUTS WILL COVER SEVEN STATES TO COLLECT THOUSANDS OF CORN AND SOYBEAN SAMPLES TO COME-UP WITH PROFARMER'S OFFICIAL CROP SIZE ESTIMATE.
GRAIN STOCKS:
AS FAR AS THE CORN SUPPLY - USDA PUTS OLD CROP CARRYOVER AT JUST UNDER ONE-POINT-TWO BILLION BUSHELS AND NEW CROP CAME IN AT ONE-POINT-EIGHT BILLION BUSHELS. OLD CROP SOYBEANS REMAIN THE SAME, BUT NEW CROP WAS BOOSTED A BIT. WITH THE LOW PRICE OF CORN, ONE ECONOMIST EXPECTS DEMAND TO BE HIGHER THAN USDA'S ESTIMATE.
DARREL GOOD:
THE GOOD PROFIT MARGINS WE'RE SEEING IN ALL SECTORS THAT USED CORN THAT THESE LOW PRICES WOULD BEGIN TO GENERATE A FASTER RATE OF CONSUMPTION.
JD LOWER FORECAST:
DECLINING GRAIN PRICES ARE BEING FELT AT DEERE HEADQUARTERS. THE FARM EQUIPMENT MAKER EXPECTS NET INCOME OF TWO-POINT-FIVE BILLION, COMPARED TO TWO-POINT SEVEN BILLION A YEAR AGO. HOWEVER, WITH THOSE LOWER GRAIN PRICES, DEERE SAYS DEMAND BY THE LIVESTOCK SECTOR FOR SMALLER TRACTORS IS HELPING TO OFFSET THE WEAKNESS FROM THE GRAINS SECTOR.
PITCH TO MIKE:
THOSE ARE THE HEADLINES...METEOROLOGIST MIKE HOFFMAN JOINS US NOW WITH CROP WATCH.
CROP WATCH:
PART OF THE REASON FOR USDA'S PROJECTIONS OF A RECORD CORN CROP IS DUE TO STRONG CROPS IN REGIONS THAT ARE OUTSIDE OF THE CORNBELT.
IN TEXAS, FOR EXAMPLE, 65-PERCENT OF THE CORN CROP IS CALLED GOOD TO EXCELLENT. 17-PERCENT IS HARVESTED WHICH IS BEHIND NORMAL. TEXAS PLANTED ABOUT TWO MILLION ACRES. IN ARKANSAS AND LOUISIANA, THE AVERAGE YIELD IS 180 BUSHELS. IN MISSISSIPPI, USDA IS PROJECTING 178 BUSHELS AN ACRE. OF COURSE THOSE A MUCH FEWER THAN ACRES THAN THE BIG CORN STATES IN THE MIDWEST...    BY THE WAY, THE LARGEST STATE YIELD AVERAGE WAS WASHINGTON WITH 210 BUSHELS AN ACRE.
MARKET RALLY BILLBOARD:
WHERE CAN YOU TALK MARKETS TODAY? JOIN CHIP FLORY FIVE DAYS A WEEK FOR MARKET RALLY RADIO- ALL MARKETS, ALL THE TIME.
JOHN’S WORLD:
HERE'S FAMILIAR STORY. SCIENTISTS HAVE EXPANDED EFFORTS TO CREATE INNOVATIVE AND ECONOMICALLY USEFUL GENETICALLY MODIFIED CROPS BUT THE GOVERNMENT WON'T APPROVE THEM, OR AT LEAST DOES SO SLOWLY. MEANWHILE, GROWING NUMBERS OF CONSUMERS ARE OBJECTING TO GMO'S IN THEIR FOOD.
WELCOME TO CHINA. CHINESE EFFORTS IN GENETIC RESEARCH COULD SOON ECLIPSE OURS, BUT THE ACTUAL RELEASE OF GM STRAINS OF CROPS LIKE RICE ARE HELD IN POLITICAL LIMBO. I WAS SURPRISED NOT JUST BY THE SIMILARITY OF THE ISSUE BUT THE RELATIVE OPENNESS OF THE COVERAGE OF THIS DEBATE. EVEN AS CHINA SCRAMBLES TO COVER THEIR FOOD DEMAND, THE DOMESTIC PUSHBACK ON GMO'S IS CONSIDERABLE AT THE CONSUMER LEVEL. CHINA IS MOVING STRONGLY TO ADDRESS THE ISSUE BY DEVELOPING GENOME EDITING, WHICH SIDESTEPS THE TRIGGER ISSUE OF INSERTING GENES FROM OTHER SPECIES INTO CROPS. WHILE THIS ADDRESSES ONE FEAR FACTOR FOR GMO'S IT REMAINS TO BE SEEN HOW ACCEPTABLE IT IS TO THE PUBLIC. BUT IF THE SEED IS BUG AND HERBICIDE RESISTANT, AND DOESN'T MAKE THE GMO TEST STRIP TURN COLOR, I THINK THEY MIGHT HAVE A WINNER. BUT SUPPOSE THE U-S IS THE ONLY LOCATION WHERE THE GMO SEED MARKET IS ENORMOUSLY LUCRATIVE. AND SUPPOSE CHINESE SCIENTISTS COME UP WITH SOME GOOD ENOUGH HYBRIDS. WHY NOT SELL THEM OVER HERE? AT A BREATH-TAKING DISCOUNT TO THE COMPETITION? WOULD YOU GROW CHINESE CORN? I THINK WE'D ALL PLANT SOME TEST STRIPS, AND FROM THAT POINT ON IT WILL BE A RACE TO FIND THE PRICE POINT. IT WORKED FOR THOUSANDS OF OTHER PRODUCTS.
CONTACT:
LET US KNOW WHAT YOU THINK.... SEND EMAILS TO MAILBAG-AT-U-S-FARM-REPORT-DOT-COM OR CHECK US OUT ON FACEBOOK AND TWITTER.
TAG AND CLOSE:
COMING UP IN OUR NEXT HALF HOUR - A SPECIAL COMPETITOR TAKES TO THE SHOW RING IN INDIANA. STAY WITH US - THE SECOND HALF OF U-S FARM REPORT IS COMING RIGHT UP.
RFD PROMO:
THIS WEEKEND ON US FARM REPORT - GOVERNMENT GRAIN REPORTS BARELY NUDGE THE MARKET. WHAT DOES IT MEAN TO FARMERS? WE'LL HEAD TO A SPECIAL COMPETITION IN THE INDIANA SHOW-RING. AND GREAT WEATHER - IF IT WAS SEPTEMBER! JOIN US THIS WEEKEND ON RFD.
OPEN HEADLINES:
TODAY ON U-S FARM REPORT...DIVERGENT WEATHER PATTERNS ARE SETTING OPPOSING RECORDS IN THE EAST AND WEST. DESPITE THE OFFICIAL PREDICTIONS, NOT EVERYONE IS LOOKING AT FIELDS OF THEIR DREAMS. AND WE GO INTO THE SHOW RING WITH A SPECIAL HOOSIER COMPETITOR. U.S. FARM REPORT - BROUGHT TO YOU BY THE ALL-NEW CHEVY SILVERADO... 2014 NORTH AMERICAN TRUCK OF THE YEAR...
JOHN OPEN:
HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. IF YOU ARE BRACING FOR THE DAY WITH A HOT CUP OF COFFEE, I HAVE SOME DISQUIETING NEWS. BRAZILIAN SCIENTISTS THINK THEY HAVE DISCOVERED WHY IT MAY A HAVE A SOMEWHAT DISAPPOINTING FLAVOR. IT SEEMS PRODUCTION PROBLEMS AND STRONG DEMAND HAVE PUSHED COFFEE PRICES SO HIGH THAT SOME COMPANIES ARE ADDING WHAT IS INNOCENTLY CALLED FILLER TO GROUND COFFEE. SO YOU MAY HAVE SOYBEANS, WHEAT, BARLEY, RYE, ACAI SEEDS - WHATEVER THEY ARE - OR JUST A FEW TWIGS AND HUSKS. THE PROBLEM HAS GOTTEN THE ATTENTION THE COFFEE INDUSTRY AND THEY ARE DEVELOPING NEW TESTS TO DETECT THE ADULTERATION. IT MAY BE TIME TO SWITCH TO WHOLE BEANS AND GRIND YOUR OWN. MEANWHILE, WHO WANTS A SECOND CUP?
TRICIA SLOMA HAS THE NEWS...
NOAA JULY:
ALRIGHT THANKS JOHN. METEOROLOGISTS HAVE FINISHED THEIR TABULATIONS. AND ONE THING IS CERTAIN. THE MONTH OF JULY WAS FAR FROM ORDINARY.
CROP SIZE:
THOSE COOLER THAN NORMAL TEMPS IN THE MIDWEST IS ONE REASON WHY THE DEPARTMENT OF AGRICULTURE IS FORECASTING A RECORD-SIZED CORN AND SOYBEAN CROP THIS YEAR. USDA IS PROJECTING A 14-BILLION BUSHEL CORN CROP. ELEVEN STATES COULD BREAK YIELD RECORDS THIS YEAR. ONE STATE THAT 'IS' STRUGGLING IS MINNESOTA. IT'S BEEN A SATURATED SPRING AND SUMMER.
FRUIT PRODUCTION:
IN ADDITION TO THOSE GRAIN REPORTS, THE AG DEPARTMENT ALSO RELEASED ITS ESTIMATE FOR THE TREE-FRUIT CROP. THE U-S APPLE CROP IS FORCAST AT NEARLY 11 BILLION POUNDS. THAT'S UP ABOUT 8 PERCENT COMPARED TO LAST YEAR. WHILE WESTERN GROWERS WITH IRRIGATION EXPECT BUMPER PRODUCTION, GROWERS IN THE MIDWEST INCLUDING PARTS OF MICHIGAN WILL SEE DECREASES IN FRUIT - DOWN ROUGHLY 12 PERCENT DUE TO HARSH WINTER AND SPRING CONDITIONS. THE PEACH CROP WAS ALSO HAMPERED IN MICHIGAN. NATIONWIDE IT'S DOWN FOUR PERCENT.
PNW STRIKE:
A BITTER TWO YEAR LABOR STRIKE AT GRAIN TERMINALS IN THE PACIFIC NORTHWEST APPEARS TO BE RESOLVED. THIS SHOULD EASE FEARS OF DELAYED GRAIN EXPORTS AS THE COUNTRY RACES TOWARDS HARVEST. MORE THAN A QUARTER OF ALL U-S GRAIN EXPORTS GO THROUGH NINE TERINALS IN WASHINGTON STATE.    THE UNION REPRESENTING LONG-SHOREMAN HAVE REACHED A TENTATIVE AGREEMENT WITH THE GRAIN COMPANY OWNERS. THE UNION WORKERS MUST STILL APPROVE THE DEAL. A FEDERAL MEDIATOR WAS CALLED IN TO RESOLVE THE DISPUTE WHICH BEGAN IN SEPTEMBER 2012.
BPI REOPEN:
MEANWHILE, BEEF PRODUCTS INCORPORATED HAS ANNOUNCED IT WILL OPEN THE DOORS OF ITS GARDEN CITY KANSAS FACILITY NEXT WEEK. YOU MAY REMEMBER B-P-I CLOSED THE DOORS ON THE PLANT, AS WELL AS TWO OTHERS, AFTER DEMAND FOR ITS "LEAN, FINELY TEXTURED BEEF" DROPPED SEVERELY. L-F-T-B WAS NICKNAMED "PINK SLIME' IN SOCIAL MEDIA CIRCLES AND A-B-C NEWS. THE COMPANY SHUT-DOWN THREE PLANTS IN 2012 INCLUDING THE KANSAS SITE.
PITCH TO WEATHER:
THAT'S IT FOR NEWS...MIKE HOFFMAN JOINS US NOW WITH THE NATIONAL FORECAST.
USFR REOPEN:
"YOU'RE WATCHING US FARM REPORT, WITH HOST JOHN PHIPPS, FARM DIRECTOR AL PELL, NATIONAL REPORTER TYNE MORGAN AND METEOROLOGIST MIKE HOFFMAN. US FARM REPORT, THE SPIRIT OF THE COUNTRYSIDE."
HEARTLAND REOPEN:
SPIRIT OF THE HEARTLAND IS BROUGHT TO YOU BY THE ALL NEW YAMAHA VIKING SIDE BY SIDE. YAMAHA REAL WORLD TOUGH... NEXT WEEK: NEXT WEEK WE'RE HEADED TO TEXAS FOR A UNIQUE LOOK AT A FAMILY LEGACY. AND IT'S ALL CENTERED ON PICKLES. THAT'S NEXT WEEK ON U-S FARM REPORT.
USFR FACT:
MISS ANY OF TODAY'S SHOW? HEAD TO USFARMREPORT.COM TO WATCH THE PROGRAM ONLINE. U.S. FARM REPORT, THE SPIRIT OF COUNTRYSIDE.
BAXTER BLACK:
WELCOME BACK...TIME NOW FOR OUR BI-WEEKLY VISIT FROM BAXTER BLACK. BAXTER LOVES LIFE ON HIS ARIZONA RANCH - ESPECIALLY WHEN THE NIGHT SHINES BRIGHT.  
TRACTOR TALES:
AL, WHAT ARE WE LOOKING AT THIS WEEK?" JOHN WE'RE TAKING A TRIP BACK TO THE 50'S WITH A CLASSIC FERGUSON. THIS T-O 20 WAS A CHILDHOOD FAVORITE OF OUR NEXT ENTHUSIAST. AND HE LOVES SHARING THOSE MEMORIES WITH HIS GRANDKIDS.
CHURCH SALUTE:
THIS WEEK'S COUNTRY CHURCH SALUTE GOES TO THE HAWLEY ALLIANCE CHURCH IN HAWLEY, MINNESOTA. FOUNDED IN JULY OF 1936 WITH MEETINGS HELD IN A TENT, THE CHURCH TODAY BOASTS AN AVERAGE WEEKLY ATTENDANCE OF NEARLY 270 WORSHIPERS. THE CURRENT SANCTUARY WAS DEDICATED IN 2001 - THE CHURCH CELEBRATED ITS 78TH ANNIVERSARY EARLIER THIS SUMMER. OUR THANKS TO MARLYS LATHROP FOR TELLING US ALL ABOUT THE HAWLEY ALLIANCE CHURCH IN HAWLEY, MINNESOTA.
CHURCH BILLBOARD:
COUNTRY CHURCH SALUTE IS BROUGHT TO YOU BY FARMERS FEEDING THE WORLD- AGRICULTURE LEADING THE WAY IN FEEDING A HUNGRY PLANET. LEARN MORE. GIVE GENEROUSLY. DREAM HUGE WITH US.
MAILBAG:
TIME NOW FOR OUR WEEKLY LOOK INSIDE THE FARM REPORT MAILBAG....LEIGH MAYE IS CONCERNED ABOUT FALLOUT FROM THE TOLEDO DRINKING WATER PROBLEM. "TOLEDO, OHIO IS BLAMING FARMERS AGAIN FOR THEIR WATER TROUBLES LAST WEEK FROM ALGAE IN THE LAKE"
LEIGH, YOU ARE CORRECT. EVEN BEFORE THE ALGAE BLOOM THIS SUMMER IN LAKE ERIE, THE INTERNATIONAL JOINT COMMISSION HAD SOUNDED AN ALARM IN FEBRUARY POINTING OUT THE PROBLEM FROM DRP - DISSOLVED REACTIVE PHOSPHORUS. THEIR REPORT STATED BLUNTLY "THE MAJOR PHOSPHORUS LOADINGS IN LAKE ERIE ARE FROM NON-POINT SOURCES, ESPECIALLY AGRICULTURE." I HAVE BEEN FOLLOWING THE DEAD ZONE ISSUE IN THE GULF OF MEXICO BECAUSE THAT IS WHERE MY RUNOFF ENDS UP. THE FINDINGS THERE ARE SIMILARLY BLEAK - ANYWHERE FROM 70 TO 90 PERCENT OF THE NUTRIENT RUNOFF IS ATTRIBUTABLE TO AGRICULTURE. THE ISSUE IN LAKE ERIE COULD BE MORE IMPORTANT FOR AG, HOWEVER. IT'S ONE THING TO KILL PLANKTON A THOUSAND MILES AWAY. FORCING NEIGHBORS IN YOUR OWN STATE TO BUY BOTTLED WATER IS A MUCH BIGGER CALAMITY. FARMERS WHO THINK THEY ARE BEING UNFAIRLY BLAMED HAVE NOT SEEN THE RESEARCH NUMBERS.
OR HAD THERE OWN RUNOFF SAMPLED. THE EVIDENCE IS OVERWHELMING THE BIGGEST FACTORS IN NUTRIENT POLLUTION ARE PHOSPHATE FERTILIZER AND MANURE. EVEN WORSE, THE BEST RESEARCH TO DATE, SUCH AS THE IOWA'S, SUGGESTS REDUCING OUR RUNOFF WILL REQUIRE NEW CROPPING SYSTEMS, CROPS AND UNIVERSAL PARTICIPATION. THIS IS WHY I BELIEVE NUTRIENT MANAGEMENT WILL BE THE PRODUCTION ISSUE FOR MY SON'S CAREER.
CONTACT:
AS ALWAYS, WE WANT TO HEAR FROM YOU, SEND COMMENTS TO MAILBAG-AT-U-S-FARM-REPORT-DOT-COM OR CHECK US OUT ON FACEBOOK AND TWITTER.
 GOODBYE:
FOR AL, TRICIA, AND MIKE, I'M JOHN PHIPPS SAYING THANK YOU FOR WATCHING U-S FARM REPORT. BE SURE TO JOIN US AGAIN NEXT WEEK, WE'LL BE WORKING TO DO EVEN BETTER..
 
 
 
 
 
 
 
 
 
 

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