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USFR Weekly Recap - August 3-4, 2013

August 3, 2013

                                                                                                                                                                                          

THIS WEEK ON U.S. FARM REPORT

EPISODE # 2086

AUGUST 3-4, 2013   

 

 

JOHN’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. IT WAS A GREAT WEEK IN THE GRAIN MARKETS - FOR USERS, ANYWAY. PRICES CONTINUE TO LOOK FOR A LEVEL THAT WILL ENTICE SOME DEMAND HERE AND ABROAD. BUT STEADILY FALLING PRICES DO NOT ENOURAGE BUYING. AFTER ALL, IT COULD BE EVEN CHEAPER TOMORROW. DEEP IN OUR HEARTS GRAIN PRODUCERS KNOW WE HAVE A HARD ROAD TO REBUILD DEMAND, AND THE ONLY HELP FOR THAT WILL PRICES THAT ENABLE OUR CUSTOMERS TO MAKE MONEY. THAT ROAD COULD BE LONGER AND SLOWER THAN WE THINK, AS IT LOOKS LIKE GLOBAL GROWTH HAS SETTLED INTO A LOW GRIND. WHEN 2% GROWTH LOOKS LIKE AN AMBITIOUS HOPE, YOU KNOW THIS IS NOT YOUR TYPICAL RECOVERY.

HEADLINES:

STOCK IN FERTILIZER MAKERS TUMBLED THIS WEEK ON CONCERNS A RUSSIAN POTASH MAKER COULD FLOOD THE MARKET WITH THE INPUT. AFTER THE RECENT STRING OF CHEMICAL PLANT EXPLOSIONS, LIKE THE ONE IN WEST, TEXAS, HAS THE PRESIDENT'S ATTENTION. PRESIDENT OBAMA ISSUED AN EXECUTIVE ORDER TO THE DEPARTMENTS OF HOMELAND SECURITY, LABOR AND THE E-P-A. HE'S ORDERING THE AGENCIES FOR AN EXTENSIVE REVIEW OF U-S CHEMICAL PLANTS, SPECIFICALLY SAFETY AND SECURITY PROCEDURES, OVER THE NEXT NINE MONTHS. JAPAN HAS LIFTED ITS BAN ON U-S WESTERN WHITE WHEAT. THE COUNTRY HALTED SHIPMENTS AFTER G-M-O WHEAT MYSTERIOUSLY SHOWED-UP IN AN OREGON FIELD. JAPANESE OFFICIALS SAY TESTS SHOWED NO PRESENCE OF THE WHEAT IN SHIPMENTS FROM THE U-S. MEANWHILE, USDA SAYS THEY'VE DETERMINED IT'S MON71-800, A STRAIN DEVELOPED BY MONSANTO. IT'S YET TO BE DETERMINED ON HOW THAT SPECIFIC GENETICALLY ENGINEERED WHEAT VARIETY GOT IN THE FIELD. MEANWHILE, CANADA MAY HAVE ITS OWN PROBLEM WITH UN-APPROVED G-M-O WHEAT. AND CANADA GEESE COULD BE TO BLAME. CANADIAN AG OFFICIALS ARE INVESTIGATING WHETHER GEESE FED ON SOME TEST PLOTS OF OF G-M O WHEAT AT A CANADIAN EXPERIMENTAL FARM. THEY BELIEVE GEESE MAY HAVE GRAZED LAST SUMMER. AND THE GEESE DROPPINGS CONTAINED SEED. GMO WHEAT IS NOT APPROVED FOR COMMERCIAL USE IN CANADA. NEW YORK IS BEING SUED OVER POLICY'S DESIGNED TO HELP GROW THE STATE'S DAIRY INDUSTRY. SEVERAL ENVIRONOMENTAL GROUPS SAY NEW WASTE HANDLING RULES VIOLATE THE CLEAN WATER ACT.

CROP WATCH:

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