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AgDay Daily Recap -June 16, 2014

June 16, 2014
 
 

TODAY ON AGDAY

JUNE 16, 2014

 

EUROPE GMO:

MEANWHILE USE OF GMO CROPS IN EUROPE HAS BEEN CENTER OF MUCH DEBATE IN THE EUROPEAN UNION. BUT NOW THAT COULD BE CHANGING. THE EUROPEAN COMMISSION'S ENVIRONMENTAL COUNCIL IS NOW RECOMMENDING THAT THE PLANTING OF GENE-ALTERED CROPS BE LEFT UP TO EACH GOVERNMENT OF THE 28 MEMBER STATES. THIS MOVE - IF APPROVED BY EUROPEAN PARLIAMENT - WOULD ENDS YEARS OF LEGISLATIVE DEBATE. PUSH FOR A TRADE DEAL WITH EUROPE....AND THAT'S OUR TOP STORY ON AGDAY. TAX EXTENDERS: MANY IN AGRICULTURE GOT USED TO HIGH SECTION 179 LEVELS IN RECENT YEARS. BUT ONCE THE CALENDAR ROLLED OVER INTO THE NEW YEAR, THE TAX PROVISION FELL OFF. BUT IT'S NOT DEAD AS CONGRESS HAS TAKEN A STEP TO REVIVE THE MEASURE. STILL TO COME - CHINA'S STATED OPPOSITION TO SOME GMO CORN IS HAVING AN IMPACT ON THE DDG MARKET. AL PELL WILL DISCUSS THE IMPACT WITH ANDY SHISSLER OF ROACH AG MARKETING. LANDVALUES: MEANWHILE, LAND PRICES AREN'T BACKING OFF. THAT'S ACCORDING TO FARMERS NATIONAL, A FARM AND RANCH REAL ESTATE COMPANY A RECENT REPORT SHOWS GOOD INCOME FOR FARMERS COMBINED WITH A TIGHT SUPPLY OF AVAILABLE LAND, MEANS MANY ECONOMISTS' PROJECTIONS HAVEN'T HELD TRUE AND WE HAVNE'T SEEN A DROP IN FARMLAND VALUES AS WE FIRST REPORTED LAST WEEK, CHINA IS EFFECTIVELY PUTTING A BAN ON DRIED DISTILLERS GRAINS FROM ENTERING THEIR PORTS. THEY CLAIM IT'S BECAUSE OF GMO'S IN THE CORN USED TO MAKE ETHANOL. DDGS ARE, OF COURSE, THE LEFTOVER PRODUCT. PRIOR TO THIS BAN, CHINA IMPORTED ABOUT HALF OF ALL DDGS EXPORTED FROM THE U-S. WHAT DOES THIS MEAN TO THE MARKET? FARM DIRECTOR AL PELL TAKES A CLOSER LOOK IN ANALYSIS. ANALYSIS: ANDY SHISHLER FROM ROACH AG MARKETING IS OUR GUEST HERE AT THE AGRIBUSINESS DESK. ANDY, I HAVE A QUESTION FOR YOU AND THAT QUESTION IS CHINA HAS ACTUALLY LIMITED AMOUNT OF THE DDGS THAT THEY ARE GOING TO BUY AND DON'T WANT THEM FOR ONE REASON OR THE OTHER SO WHAT'S THE WHOLE STORY ABOUT THAT? WELL CHINA BUYS ABOUT 35 TO 40% OF OUR DDGS OUT OF THIS COUNTRY SO IT'S A VERY BIG DEAL YES. AND THIS STORY GOES BACK PROBABLY 10 MONTHS AND I THINK IT'S MORE ABOUT LICENSING THAN INITIALLY THE GMO ISSUE. THE GMO ISSUE HAS CAUGHT TRACTION IN CHINA AND WILL CONTINUE TO CATCH TRACTION EVERYWHERE BUT IT'S GETTING MORE BUT THESE ARE TWO SEPARATE ISSUES BUT THESE ARE TWO SEPARATE ISSUES AND WHAT THEY FOUND IS THEY'VE GOT A PRICING PROBLEM WITH CORN. THEY'VE GOT CORN IN A NINE DOLLAR RANGE AND WE'VE GOT CORN OVER HERE IN THE FOURS. YES AND BEANS HAVE ALWAYS BEEN UNLIMITED BASICALLY ON WHAT THEY WILL LET YOU LICENSE AND BRING IN THE COUNTRY AND THEY OPEN THE LICENSE FOR CORN BECAUSE OF A PROBLEM AREA IN SOUTH CHINA. THEY NEEDED TO BUY CORN FOR SO THEY WENT IN THERE AND BOUGHT CORN THE SAME GUYS ARE BUYING BEANS ENROLLING THOSE IN THE COUNTRY THEN THEY'RE ROLLING THROUGH DDGS BUT WHAT HAPPENED WAS THERE WAS TOO MANY CARGOES OF EVERYTHING BOUGHT SO ONE WAY TO SLOW DOWN IS POLITICALLY UNTIL WE CAN FIGURE OUT HOW WE WANT TO HANDLE THE LICENSING AND THE PRICING IN WHAT GOES INTO GOVERNMENT STORAGE AND WHAT GETS SOLD OUT OF THE AUCTION. THESE ARE VERY COMPLICATED THINGS THAT ARE GOING TO TAKE A YEAR PLUS TO GET IRONED OUT FOR THE FIRST THING THAT WENT DOWN WAS WITH A REJECTED CORN CARGOES SO THE CORN CARGOES GET REJECTED THEY DO AN AUDIT THEY LOOK INTO THINGS HEADS FALL AND NEW PEOPLE COME IN THERE'S GOING TO BE NEW QUOTA SYSTEMS IN NEW LICENSES THATS HOW IT WORKS AND SO SAME THING HAPPENED IN SOYBEANS…OVERBOOKED ON BEANS. LETTERS OF CREDIT GOT STOPPED NOW WE'RE INTO DDGS IT'S REALLY THE SAME THING AND SO THE DDGS ARE OVERBOOKED AND THEY GOTTA FIGURE OUT HOW TO LICENSE IT THEY WANNA BUY DDGS. THEY REALLY DO SOMETHING THATS NOT GOING TO STOP BUT IN THE TIME BEING THEY HAVE TO FIGURE OUT HOW TO LICENSE IT AND HOW TO WORK IT AND SO IT WILL GET RESOLVED BUT ITS GONNA TAKE TIME. SO THE BOTTOM LINE IS IT WILL BE RESOLVED IT'LL BE RESOLVED ITS JUST GOING TO TAKE TIME AND IF THEIR CROP IS SHORT THEY'LL BUY MORE CORN AND DDGS NEXT YEAR THAN THEY DID THIS YEAR. SO THATS THE WAY I LOOK AT IT. ANDY SHISSLER ROACH AG MARKETING OUR GUEST HERE AT AGDAY BACK WITH MORE IN A MOMENT. WEATHER: WELCOME BACK TO AGDAY. A CHECK NOW OF WEATHER WITH METEOROLOGIST CINDI CLAWSON. CINDI I SEE YOU HAVE THE DROUGHT MONITOR UP. NOT BIG IMPROVEMENTS FROM LAST WEEK, BUT LOOKING AT THREE WEEKS AGO, WE'RE REALLY EATING AWAY ATT HIS DROUGHT IN SOME AREAS. IN SOME AREAS. YEAH, YOU KNOW SOME FOLKS ARE LIKE WOW WE HAVEN'T SEEN RAIN LIKE THIS IN YEARS FOR SOME OTHER METEOROLOGISTS IN THE SOUTHERN PLAINS SAY THAT IT'S STILL LOOKS BAD WHEN YOU LOOK AT THE MAP OF COURSE BUT WE HAVE CHIPPED AWAY AT SOME OF THIS. UNFORTUNATELY THE LONGTERM OUTLOOKS AREN'T REALLY THAT GREAT FOR MOST OF THE AREAS THAT ARE SEEING THE WORST OF THE DROUGHT. SO THIS IS WHAT IT LOOKS LIKE THIS WEEK OBVIOUSLY. STILL PRETTY BAD. IT'S GOING TO TAKE A LOT OF RAIN TO GET OUT OF DROUGHT IN MUCH OF THE SOUTHERN PLAINS AND OUT INTO THE WESTERN UNITED STATES AS WELL. LET'S TAKE A LOOK AT WHAT WE CAN EXPECT. WE'RE GOING TO START OFF WITH SOME PRETTY WARM TEMPERATURES ESPECIALLY IN THE HEE ASTERN PART OF THE COUNTRY. BUT WE'RE GOING TO HAVE AT TROPH AS IT MOVES ACROSS THE NATION'S MIDSECTION. SO THAT IT'LL BRING A WAVE OF SOME COOLER AIR AND SOME WET WEATHER ALL THE WAY ACROSS THE UPPER MIDWEST AND INTO THE CORNBELT AND EVENTUALLY ENDING OFF IN THE EAST. AND WE'LL END WITH SOME FAIRLY WARM WEATHER IN THE NATION'S MIDSECTION AS WE GET TO A WEEK FROM TODAY. ALRIGHT LET'S TAKE A LOOK AS FAR AS TEMPS, WITH THAT TROPH WE'LL CALL IT BELOW NORMAL OVERALL FOR MUCH OF THE NORTH CENTRAL UNITED STATES INTO PARTS OF THE PLAINS ON THE WARM SIDE ESPECIALLY EARLY IN THE WEEK FOR THE EAST. A LITTLE BIT ON THE WARM SIDE IN PARTS OF TEXAS AND INTO THE PACIFIC NORTHWEST. NOW AS FAR AS PRECIP IS CONCERNED WE'LL SEE THAT TROPH MOVING THROUGH THE EASTERN AND NORTHERN PARTS OF THE COUNTRY WHEN IT PICKS UP THAT GULF MOISTURE, THAT'S WHEN WE'LL REALLY SEE THAT ABOVE NORMAL RAINFALL ALL THE WAY FROM PARTS OF NORTHERN PLAINS RIGHT ON THROUGH THE NORTHEASTERN UNITED STATS. AND UNFORUTNAITELY MORE OF THE SAME FOR THE DRY AREAS WE'RE GOING TO SEE BELOW NORMAL PRECIP FOR YOU THIS WEEK. WIDENING IT OUT TO THE 30 DAY TEMPERATURES, ON THE COOL SIDE OVERALL FROM THE GREAT LAKES ALL THE WAY THROUGH THE UPPER MIDWEST AN INTO MOST OF THE PLAINS STATES. ON THE WARM SIDE IN EH SOUTHEAST AND FLORIDA. LOOKS LIKE WE'RE GOING TO BE ON THE WARM SIDE AS WE GET INTO MUCH OF THE WESTERN UNITED STATES AS WELL. AS FAR AS PRECIP IS CONCERNED WET FROM THE SOUTHEAST THROUGH PARTS OF THE MISSISSIPPI VALLEY AND THEN ON UP INTO SOME OF THE NORTHERN ROCKIES DRY IN SOUTHERN TEXAS AND IN MUCH OF THE WEST. THAT'S A LOOK AT YOUR NATIONAL FORECAST. NOW LET'S CHECK ON SOME LOCAL CITIES. CENTRALIA WASHINGTON, MOSTLY CLOUDY FOR YOU WITH A HIGH TEMPERATURES OF 66 DEGREES. GREEN CASTLE INDIANA, LOOK FOR SOME SHOWERS AND THUNDERSTORMS, A HIGH OF 84 DEGREES. AND SALISBURY MARYLAND, MOSTLY SUNNY WITH A HIGH OF 86.> ITC-TEXAS CRAWFISH: NOTHING BRINGS A SOUTHEAST TEXAS FAMILY TOGETHER LIKE A GOOD OLD FASHIONED CRAWFISH BOIL. WE TOOK A TRIP TO HAMPSHIRE, TEXAS AND MET ONE FARMER BEHIND THESE TASTY TAILS. ED WOLFF WITH THE TEXAS FARM BUREAU HAS MORE. A SURVEY FOUND THE U-S PER PERSON CONSUMPTION OF CRAWFISH IS AROUND A QUARTER OF A POUND. BUT IN CRAWFISH COUNRTRY, OR LOUISIANA, THE AVERAGE RESIDENT EATS 10 POINT 4 POUNDS. CRAWFISH MAY BE A STAPLE FOR FOLKS IN LOUISIANA, BUT IN OTHER PARTS, IT'S CAMEL'S MILK GROWING IN POPULARITY. WE'LL TELL YOU WHY NEXT IN FOOD AND YOUR FAMILY. VERMONT GMO: IN FOOD AND YOUR FAMILY, THE VERMONT G-M-O LABELING LAW ISN'T A DONE DEAL. SEVERAL GROUPS HAVE NOW COME OUT CHALLENGING THE LAW IN THE COURTS IF YOU HAVE STICKER SHOCK WHEN BUYING A GALLON OF MILK, BE THANKFUL IT'S NOT CAMEL'S MILK. DUE TO THE CLAIMED NUTRITIONAL BENEFITS, THE MILK IS LIKE GOLD, DRAWING A PRETTY PENNY PER PINT.

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