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USFR Weekly Recap - March 15-16, 2014

March 15, 2014

                                                                                                                                                                                          

THIS WEEK ON U.S. FARM REPORT

EPISODE # 2118

MARCH 15-16, 2014   

 

JOHN’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. PERHAPS YOU HAVE A NEIGHBOR LIKE THIS. HE IS A VERY GOOD FARMER AND A SURPRISINGLY GOOD NEIGHBOR. HE HAS BEEN SUCCESSFUL BY VIRTUE OF HARD WORK AND GOOD DECISION, BUT ALSO BENEFITS FROM A FAMILY OPERATION THAT GAVE HIM A SECURE START. YOU LIKE AND ADMIRE HIM. BUT...HIS MARKETING PLAN ABSOLUTLEY DRIVES YOU CRAZY. HE IS STRICTLY A CASH MARKETER AND ALMOST NEVER SELLS UNTIL IT'S IN THE BIN. WHILE YOU ARE FLAILING HE WAITS. AND WAITS. AND THIS DO-NOTHING MARKETING PLAN, WHICH IS ROUNDLY DISCOUNTED BY EXPERTS HAS WORKED BRILLIANTLY FOR SEVERAL YEARS. I AGREE WITH OUR MARKET GURUS, BUT SUCCESS IS HARD TO ARGUE WITH.

HEADLINES:

IT WASN'T A VERY FAVORABLE WEEK FOR SOYBEAN PRICES. IT ALL STARTED MONDAY WITH THE USDA WORLD SUPPLY AND DEMAND REPORT. THE MARCH REPORT IS TYPICALLY A NON-MARKET MOVER. BUT THIS ONE CAUGHT MANY ANALYSTS OFF GUARD. ALLENDALE INCORPORATED RELEASED THE RESULTS OF ITS ANNUAL PLANTING INTENTIONS SURVEY. THE FIRM EXPECTS U-S FARMERS WILL PLANT THREE MILLION FEWER CORN ACRES THAN LAST YEAR. SOYBEAN ACREAGE WILL JUMP BY SIX MILLION. AND ON WHEAT - ALLENDALE SEES AN 800-THOUSAND ACRE DECLINE. ALLENDALE'S BILL BIEDERMANN WILL BE IN THE MARKETING DISCUSSION IN JUST A FEW MINUTES. WITH THE CURRENT BATTLE OVER BIG DATA, THE FORMATION OF A NEW GROUP CALLED "THE OPEN AGRICULTURE DATA ALLIANCE" WAS ANNOUNCED THIS WEEK. THE U-S COULD BE ON THE VERGE OF A BIG OIL BOOM.
NEW DEPOSIT DISCOVERIES AND THE USE OF FRACKING HAS THE U.S. ON PACE TO OVERTAKE SAUDI ARABIA AS THE WORLDS TOP OIL PRODUCER. THE CHANGE COULD HAVE BIG IMPACTS ON THINGS LIKE FOREIGN POLICY AND ETHANOL ECONOMICS.

CROP WATCH:

CROP WATCH THIS WEEK

ROUNDTABLE:

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