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USFR Weekly Recap - August 4-5, 2012

August 4, 2012

 

THIS WEEK ON U.S. FARM REPORT

EPISODE # 2034
AUGUST 4-5, 2012

 

JOHN’S OPEN:

Hello and welcome to U.S. Farm Report, I’m John Phipps. Perhaps it is the Olympics or politics or empathy fatigue, but the drought is fading from media popularity. I suspect since food prices didn't double overnight, we all just moved on, as we say these days. Even on our farms, despite crops continuing to go downhill, many of us have switched from anxiety over the next rain to simple damage control mode. Combines began to roll this week in my area as the worst fields were scavenged for what little could be saved. Public attention is fickle. Unless we discover even more catastrophic yields than we now imagine, as withered crops disappear, so will headlines.

HEADLINES:

With the clock ticking before the August recess for Congress, the House passed a disaster relief bill. In a patent infringement case between Monsanto and DuPont Pioneer, Monsanto walked away with a victory. Monsanto sued Pioneer for what they called unauthorized use of Monsanto’s Roundup Ready Technology. Monsanto says pioneer illegally used the Roundup technology to patch problems with DuPont’s own Optimum Gat technology. The court awarded Monsanto 1 billion dollars, although DuPont Pioneer is appealing the judgment. With most of the cornbelt suffering from drought conditions, one major analytical firm has dropped its production forecast.

ROUNDTABLE:

Our round-table comes to us from Farm Journal's Soybean College held this week in Coldwater, Michigan.  Joining Al on stage - Mike Florez, Mike North and Brian Basting.  Al takes it from here...

JOHN’S WORLD:

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