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USFR Weekly Recap - September 8-9, 2012

September 8, 2012

 

THIS WEEK ON U.S. FARM REPORT

EPISODE # 2039
SEPTEMBER 8-9, 2012

 

 

 

JOHNS OPEN:

Hello and welcome to U.S. Farm Report, I’m John Phipps. As many of you have noted, I haven't been a bundle of laughs this summer as, like many of you, I watched a crop off to a great start wither in the drought. So I thought I would mention a curious phenomenon that has perked up life in the Phipps household. We harvested the field around our house even though it was August and a little high in moisture. Not only were the frail stalks lodging but scarce ears were falling to the ground. Waking up each morning now to look out on an empty field instead of a looming disaster has been positively uplifting. It dawns on me that we won't be harvesting this crop - we will be putting it out of our misery.

HEADLINES:

Thanks John. A leading industry forecasters has further reduced the projected size of this year’s corn and soybean crops. Allendale’s annual yield survey shows widely varied numbers for corn and soybeans and point to further reductions in crop size. Another major firm, fc stone, also came out with its estimates, which pegged corn yields a three bushels lower than its original estimates and soybean yields a half a bushel higher. Meanwhile, USDA just released its latest crop progress report which shows a sizeable jump in corn harvest. It now sits at 10% nationwide. The five year average is 3%. Kansas, Kentucky, Missouri and Texas are all 25-to-35% points ahead of average. This year's drought could cause a shift in cotton acres next year. Economists in Texas say the drought-induced high grain prices are the reason. Dr. John Robinson from Texas Agri-life extension says he could easily see Texas cotton acres down to five million next year. The state typically plants six-to-seven million acres. And it's not just corn. Robinson says some Texas producers are attracted to higher sorghum prices as well. A new tool to help cattle producers reduce heat-related losses could soon be in the palm of your hand.

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