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AgDay Daily Recap -February 8, 2013

February 8, 2013
 
 

TODAY ON AGDAY
FEBRUARY 8, 2013

WASDE REPORT:

GOOD MORNING I'M TYNE MORGAN. CLINTON'S ON ASSIGNMENT. THE MARKET PREPARES FOR THE LATEST GRAIN SUPPLY DATA FROM THE FEDERAL GOVERNMENT.

SOY SUPPLY:

MEANWHILE, DRY WEATHER IS HAMPERING SOUTH AMERICAN SOYBEAN PRODUCTION.THIS IS CREATING MORE DEMAND FOR U-S SOYBEANS, ALREADY TIGHT FROM LAST YEAR'S DROUGHT. THIS COULD CREATE THE TIGHTEST U-S SUPPLY SITUATION IN ALMOST FIVE DECADES. WHILE USDA WILL RELEASE ITS LATEST NUMBERS IN TODAY'S STOCKS REPORT, PROJECTIONS POINT TO A NINE-YEAR LOW OF SOYBEAN STOCKS BY THE END OF AUGUST.
THIS COULD HELP SHOOT SOYBEAN PRICES HIGHER. EVEN WITH FORECASTS FOR A LOWER SOYBEAN HARVEST IN PARTS OF SOUTH AMERICA, REPORTS RIGHT NOW ARE STILL FORECAST TO BE THE HIGHEST EVER.

CORN EXPORTS:

IN ADVANCE OF TODAY'S SUPPLY-DEMAND REPORTS, USDA RELEASED SOME NEW DATA ABOUT CORN EXPORTS.
IT SEEMS OUTSIDE COMPETITION COULD CONTINUE TO BE ON THE RISE.
USDA SAYS THE REDUCTION IN U-S CORN MARKET SHARE IS DIRECTLY TIED TO THE INCREASE NEED FOR CORN IN THE U-S, INCLUDING ETHANOL PRODUCTION.
THIS HAS OPENED THE DOOR FOR OTHER COUNTRIES TO EXPORT MORE CORN.
THE USDA SAYS BRAZIL HAS BEEN EXPORTING CORN AT A RECORD PACE.
THE DEPARTMENT ALSO FORECAST U-S CORN EXPORTS TO FALL THIS YEAR TO THE LOWEST LEVELS SINCE 1971 AND 1972, LARGELY DUE TO THE DROUGHT.

DROUGHT MONITOR:

LOOKING AT THE LATEST DROUGHT MONITOR, WHILE IMPROVEMENT CONTINUES IN THE EASTERN PORTION OF THE U-S, MANY FARMERS AND RANCHERS ARE STRUGGLING TO FIND MOISTURE IN THE WESTERN HALF. THE MONITOR SHOWS A SLIGHT IMPROVEMENT IN THE MODERATE TO SEVERE DROUGHT CATEGORIES FROM MISSOURI, THROUGH THE EASTERN PORTIONS OF THE I STATES AND INTO OHIO. EXCEPTIONAL DROUGHT EXPANDED IN COLORADO. AS YOU JUST SAW, IT SEEMS TO BE THE TALE OF TWO REGIONS WHEN TALKING ABOUT DROUGHT. I SPOKE TO TWO FARMERS WHO SAYS THE ROAD TO RECOVERY MAY BE EASIER IN THE EAST THANKS TO A MAJOR FACTOR-- MOISTURE.

CROP WATCH:

WE'LL CONTINUE OUR COVERAGE OF THE DROUGHT TOMORROW ON AGDAY. MICHELLE ROOK WILL LOOK AT POTENTIAL IMPACT ON NET FARM INCOME WITH THE PROSPECTS OF A LINGERING DROUGHT? BUT NOW, LET'S CHECK IN WITH MIKE HOFFMAN WHO HAS YOUR FIRST LOOK AT FARM COUNTRY WEATHER.

NCBA:

IMPACT OF THE DROUGHT IS ALSO ON THE MINDS OF PEOPLE ATTENDING THE CATTLE INDUSTRY CONVENTION IN TAMPA, FLORIDA. FOR THE BIGGEST BEEF PRODUCING STATES, THE DROUGHT IS A TWO-TO-THREE YEAR LONG ORDEAL. CLINTON GRIFFITHS IS TALKING TO RANCHERS ABOUT DROUGHT AND OTHER ISSUES FACING THE INDUSTRY.

ANALYSIS:

IN AGRIBUSINESS, AS MUCH AS THEY WANT, FARMERS MAY FIND IT DIFFICULT TO FORGET ABOUT LAST YEARS SEVERE DRYNESS. AND AS THEY DEVELOP THEIR MARKETING PLANS FOR 2013, WHAT ROLE SHOULD THE DROUGHT PLAY IN THIS YEARS MARKETING PLAN?
I TALKED WITH BRIAN BASTING OF ADVANCE TRADING ABOUT IT.

CSA GARDENS:

HOW ARE YOUR NEW YEAR RESOLUTIONS COMING ALONG? HAVE YOU GIVEN UP, OR ARE YOU STILL ON GOAL? WE OFTEN VOW TO EXERCISE MORE AND EAT HEALTHIER. TO HELP YOU FULFILL THAT GOAL OF CONSUMING BETTER FOODS, YOU COULD PLANT YOUR OWN GARDEN.
IF SPACE IS A PROBLEM, HOW ABOUT JOINING A COMMUNITY GARDEN? NORM HYDE FROM THE VIRGINIA FARM BUREAU HAS DETAILS. THANKS NORM. THE CONCEPT OF C-S-A'S BEGAN IN EUROPE IN THE 1960'S. THEY STARTED TO TAKE ROOT IN THIS COUNTRY IN THE 1980'S.

BABY BOOMER HEALTH:

IN FOOD AND YOUR FAMILY, AS A WHOLE, BABY BOOMERS HAVE HAD BRAGGING RIGHTS AS THE HEALTHIEST AND MOST ACTIVE GENERATION. BUT THAT'S ABOUT TO CHANGE.

ALCOHOL PRICE HIKES:

WHEN LOOKING FOR A FIX TO OVERCONSUMPTION OF ALCOHOL, SOME COUNTRIES ARE LOOKING HIKING UP PRICES. AND IT SEEMS TO BE WORKING.

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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