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USFR Weekly Recap - June 15-16, 2013

June 15, 2013

                                                                                                                                                                                             

THIS WEEK ON U.S. FARM REPORT

EPISODE # 2079

JUNE 15-16, 2013   

 

JOHN’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. THE OLDEST MAN IN HISTORY DIED THIS WEEK AT 116. AND TO MY EMBARASSMENT, MY FIRST THOUGHT WAS - "WHOA, THAT GUY SURE WON BIG ON SOCIAL SECURITY". OF COURSE, HE WAS JAPANESE, AS ARE MANY OF THE 50-ODD PEOPLE IN THE WORLD OVER 110, SO IT DIDN'T MATTER. BUT JUST LIKE THE OLDEST WOMAN IN HISTORY WHO DIED A FEW YEARS AGO AT 122, CENTENARIANS ARE THE FASTEST GROWING DEMOGRAPHIC GROUP IN THE WORLD. AND GET THIS, AT AGE ONE HUNDRED, YOU ARE STILL LIKELY TO LIVE ANOTHER TWO YEARS ACCORDING TO ACTUARIAL TABLES. BETTER DIET, MEDICAL ADVANCES, AND MORE PEACE IN THE WORLD MEANS MOST OF US WILL LIVE LONGER THAN WE THINK. AND MORE THAN A FEW OF US, UNFORTUNATELY, WILL LIVE LONGER THAN WE WANT.

HEADLINES:

THANK YOU, JOHN AND HELLO, EVERYONE. USDA RELEASED ITS JUNE GRAIN STOCKS AND SUPPLY AND DEMAND REPORT THIS WEEK. WE'VE HEARD FROM MANY ANALYSTS WHO SAY IT HAD LITTLE VALUE, AS MANY AREAS DIDN'T SEE A LOT OF CHANGE. USDA LEFT DOMESTIC SOYBEAN ESTIMATES UNCHANGED FROM MAY WITH TOTAL PRODUCTION AT JUST UNDER THREE-POINT-FOUR BILLION BUSHELS. DESPITE WEATHER CHALLENGES IN THE SOUTHERN PLAINS, USDA INCREASED WINTER WHEAT PRODUCTION BY TWO PERCENT FROM ITS ESTIMATES IN MAY. USDA IS NOW FORECASTING AT ONE-AND-A HALF BILLION BUSHEL CROP. WHILE UP FROM MAY, IT'S DOWN EIGHT PERCENT FROM A YEAR AGO. WHILE THE USDA REPORT DIDN'T SHOW AN ACREAGE SHIFT, ROACH AG MARKETING SURVEYED ITS CUSTOMERS FROM SIX OF THE BIGGER CORN-GROWING STATES, INCLUDING IOWA, ILLINOIS AND MINNESOTA. THEIR ESTIMATES PUT LOST CORN ACRES - EITHER DUE TO PREVENTED PLANT OR THOSE FARMERS WHO SWITCHED TO SOYBEANS - AT JUST OVER THREE-POINT-SEVEN MILLION ACRES. OF THOSE SIX STATES, MINNESOTA HAD THE BIGGEST LOSS WITH MORE THAN A MILLION ACRES. TO LOOK AT IT ANOTHER WAY, ROACH AG ESTIMATES THAT'S A LOSS OF A HALF BILLION BUSHEL OF CORN.

CROP WATCH:

CROP WATCH THIS WEEK BEGINS IN THE MIDWEST. PARTS OF NORTHWEST INDIANA GOT DUMPED ON WEDNESDAY NIGHT. THAT'S WHEN THOSE POWERFUL STORMS CHARGED ACROSS IOWA, ILLINOIS AND INDIANA, BEFORE HEADING TO THE EAST COAST. THIS PHOTO IS TAKEN IN PULASKI COUNTY, INDIANA.THAT COUNTY WAS DRENCHED FROM THE STORMS. IN ATKINSON COUNTY, GEORGIA, A CROP REPORTER SAYS MUCH OF CORN CROP IS TASSELING. THEY'VE HAD AN ABUNDANCE OF RAIN WHICH HAS SLOWED-DOWN DOUBLE-CROPPING AFTER WHEAT.

ROUNDTABLE:

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