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USFR Weekly Recap - December 21-22, 2013

December 21, 2013

                                                                                                                                                                                          

THIS WEEK ON U.S. FARM REPORT

EPISODE # 2106

DECEMBER 21-22, 2013   

 

 

JOHN’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. IT HAS BEEN ALTOGETHER TOO EASY TO TO JUST ACCIDENTALLY ON PURPOSE IGNORE THE GRAIN MARKETS AND FOCUS ON CHRISTMAS STUFF THE LAST FEW WEEKS. NO FIREWORKS, BUT JUST A STEADY GRIND LOWER THAT'S BECOMING SOMETHING SIMILAR TO AN ECONOMIC TOOTHACHE. BUT AS MUCH AS WE GRUMBLE ABOUT THIS, IT'S KIND OF OUR TURN. GRAIN BUYERS ARE HAVING A MUCH MORE HEART-WARMING SEASON, AFTER ALL. HOWEVER, THE FACT THAT WE'VE FORGOTTEN WHAT BEARISH MARKETS FEEL LIKE IS NOT ANY REASON TO BELIEVE WE CAN'T MANAGE THEM. SO FRANKLY, I DON'T FEEL GUILTY ABOUT TUNING OUT.  THE MARKETS WILL STILL BE TRADING IN JANUARY. TIME NOW FOR THE HEADLINES.....HERE'S AL PELL IN FOR TYNE MORGAN.

HEADLINES:

THANKS JOHN. THE U-S ATTORNEY IN IOWA SAYS SIX MEN FROM CHINA HAVE NOW BEEN INDICTED FOR THEIR ALLEGED INVOLVEMENT IN A SCHEME TO STEAL SEED TECHNOLOGY.

THE SIX CHINESE NATIONALS ALL WORKED FOR A CHINESE SEED-COMPANY. THE U-S ATTORNEY SAYS BETWEEN SPRING OF 2011 TO DECEMBER OF LAST YEAR, THE MEN CONSPIRED TO STEAL TRADE SECRETS FROM PIONEER, MONSANTO AND L-G SEEDS. THE DEFENDANTS ARE ACCUSED OF TRYING TO STEAL 'PARENT' LINES OF SEED AND SNEAK-OUT OF THIS COUNTRY. IN A SEPARATE BUT SIMILAR CASE - THIS MAN IS ALSO ACCUSED OF CONSPIRING TO STEAL SEEDS FROM A RESEARCH FACILITY IN KANSAS AND THEN PASS THEM TO A CHINESE DELEGATION THAT TOURED THE U-S THIS YEAR. DURING A DETENTION HEARING IN KANSAS, THE JUDGE ORDERED THE DEFENDANT BE DETAINED IN FEDERAL CUSTODY FOR THE TIME BEING.  KEEPING WITH CHINA - DAIRY DEMAND IN THAT COUNTRY SHOULD KEEP DAIRY PRICES STRONG IN 2014. RABO-BANK SAYS THAT INTERNATIONAL DAIRY COMMODITY PRICES SHOULD STAY THERE AT LEAST FOR THE FIRST HALF OF 2014.  RABOBANK SAYS CHINA'S BUYING HAS LEFT THE REST OF THE BUY-SIDE OF THE INTERNATIONAL MARKET WITH LESS SUPPLY TO GO ROUND. THAT'S KEEPING THE MARKET TIGHT.  THE U.S. GRAINS COUNCIL, THE USDA AND US TRADE REPRESENTATIVE SAY THEY'VE SUCCEEDED IN KEEPING THE PANAMA MARKET OPEN FOR U.S. CORN. A FEW MONTHS AGO THE PANAMANIAN GOVERNMENT SAID IT WOULD CLOSE ITS DOOR TO CORN IMPORTS FROM JANUARY THROUGH APRIL. AFTER DISCUSSING THE ISSUE, THE NEW FREE TRADE PARTNER AGREED TO KEEP GRAIN FLOWING IN 2014. A-D-M ANNOUNCED THIS WEEK IT'S STAYING IN ILLINOIS, BUT IT WILL MOVE ITS GLOBAL HEADQUARTERS TO CHICAGO FROM DECATUR.

THE COMPANY WANTS EASIER ACCESS FROM A LARGER HUB-CITY. THE COMPANY SAYS DESPITE NOT BEING ABLE TO SECURE SPECIAL TAX INCENTIVES FROM ILLINOIS LAWMAKERS, IT WILL MOVE ABOUT 75 EXECUTIVES TO CHICAGO. 2014 COULD BRING A TURNAROUND FOR COTTON ACREAGE. JOHN ROBINSON - A COTTON SPECIALIST WITH TEXAS A-AND-M - SAYS COTTON ACRES IN 2014 COULD INCREASE TO 11 MILLION FROM THE 10-POINT-THREE MILLION ACRES THAT WE SAW THIS YEAR. ROBINSON SAYS AS PRICES FOR CORN, SORGHUM, AND WHEAT SINK, ACRES COULD SHIFT INTO COTTON AT LEAST IN TEXAS.  EACH YEAR AN ILLINOIS BASED RESEARCH FIRM - NAMED "FIRST" - ANALYZES YIELD RESULTS FROM VARIOUS SEED MAKERS. THOUSANDS OF SAMPLES ARE GATHERED FROM COUNTLESS FIELDS IN A VARIETY OF SOIL CONDITIONS. GENERAL MANAGER JOE BRUCE DISCUSSED THE RESULTS OF THEIR CORN RESEARCH WITH CLINTON GRIFFITHS.

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