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AgDay Daily Recap -June 25, 2013

June 25, 2013
 
 

TODAY ON AGDAY

JUNE 25, 2013

 

CROP PROGRESS:

GOOD MORNING I'M TYNE MORGAN IN FOR CLINTON GRIFFITHS. WHILE THE MARKET PREPARES FROM SOME BIG GOVERNMENT REPORTS LATER THIS WEEK, THE ISSUE AT HAND RIGHT NOW IS THE CONDITION OF THOSE CROPS.

TEXAS WHEAT HARVEST:

GROWING WHEAT IN TEXAS THIS YEAR WAS A STRUGGLE. FARMERS FACED CHALLENGES AT EVERY TURN. SOME WON'T EVEN MAKE A CROP, BUT FOR OTHERS HARVEST BROUGHT AN UNEXPECTED GRIN. ED WOLFF WITH THE TEXAS FARM BUREAU REPORTS.

DEADZONE:

THE ABOVE AVERAGE RAINFALL THAT LED TO FLOODING THIS SPRING COULD NOW CAUSE THE DEAD ZONE IN THE GULF OF MEXICO TO GROW TO THE SIZE OF NEW JERSEY. THE FORECAST IS COMING FROM THE UNIVERSITY OF MICHIGAN AND LOUISANA STATE UNVIERSITY. RESERACHERS SAY NITROGEN AND PHOSPHORUS RUN OFF INTO THE GULF WILL CREATE GIANT ALGAE BLOOMS WHICH CAUSES THE DEAD ZONE. PRIOR TO THIS YEAR, THE LARGEST DEAD ZONE EQUALED 84-HUNDRED SQUARE MILES. THEY SAY THIS YEAR, IT COULD GET TO 85-HUNDRED SQUARE MILES. ON THE FLIP SIDE, THE RESEARCHERS FORECAST THE CHESAPEAKE BAY WILL HAVE A SMALLER-THAN-AVERAGE DEAD ZONE THIS YEAR.

CROP WATCH:

MEANWHILE PARTS OF THE MIDWEST GOT DRENCHED OVER THE WEEKEND. MIKE HOFFMAN HAS CROPWATCH FOR US. GOOD MORNIGN MIKE.

E15 RULING:

PRO-ETHANOL SUPPORTERS SCORED A BIG WIN MONDAY IN THE NATION'S HIGHEST COURT.
THE SUPREME COURT HAS REJECTED CHALLENGES TO E-P-A'S DECISIONS TO ALLOW FOR A HIGHER BLEND OF ETHANOL IN THE NATION'S GASOLINE SUPPLY. THE JUSTICES LEFT IN PLACE A FEDERAL APPEALS COURT RULING THAT DISMISSED CHALLENGES BY TRADE ASSOCIATIONS WHO FOUGHT AGAINST E-15. THOSE GROUPS REPRESENT THE OIL INDUSTRY, FOOD PRODUCERS, AND RESTAURANT GROUPS. THEY BELIEVE CORN-BASED ETHANOL HAS CAUSED THE PRICE OF FOOD TO GO UP. RIGHT NOW THE NATIONAL GASOLINE SUPPLY IS LARGELY A BLEND WITH 10 PERCENT ETHANOL.

IMMIGRATION REFORM:

A NEW AMENDMENT INTRODUCED IN THE SENATE IMMIGRATION REFORM BILL COULD BEEF UP BORDER SECURITY.

STOCK MARKET:

IN AGRIBUSINESS TODAY, CONCERNS OVER THE FEDERA'S RESERVE'S STIMULUS WINDING DOWN AND NEWS OF TIGHTER FINANCIAL CONDITIONS IN CHINA FORCED STOCKS AND COMMODITIES SHARPLY LOWER YESTERDAY MORNING. IT DID, HOWEVER, LIFT THE DOLLAR TO A 2 AND A HALF WEEK HIGH.

ANALYSIS:

IN THIS MORNING'S ANALYSIS, AL PELL TALKS TO ONE ANALYST WHO SAYS DESPITE THE INITIAL HIT TO MARKETS, HE SEES CHINA'S DEMAND FOR AGRICULTURAL GOODS ONLY GROWING IN TH FUTURE.

FLOWER SHOP:

IT'S WEDDING SEASON. AND MANY WEDDING COUPLES WILL SPARE NO EXPENSE WHEN IT COMES TO FLOWERS. FROM THE BRIDE'S BOUQUET TO THE RECEPTION TABLE, FLOWERS ARE AN IMPORTANT PART OF THE CELEBRATION. MANY OF THOSE FLOWERS ORIGINATED IN CALIFORNIA WHICH GROWS AN ESTIMATED HALF BILLION STEMS EACH YEAR. IN THIS REPORT PROVIDED BY CALIFORNIA BOUNTIFUL T-V, WE MEET A COMMERCIAL FLOWER GROWER WHO TAKES US FROM HIS FARM TO THE FLORIST.

GMO FREE:

IN FOOD AND YOUR FAMILY, THERE'S A NEW LABEL IN TOWN, AND THIS TIME IT'S FOR MEAT PRODUCTS THAT ARE GMO-FREE.

FRESH RESTAURANTS:

NEW RESEARCH FINDS NOT ONLY DO CONSUMERS WANT FRESH AT HOME, BUT THEY WANT IT WHEN DINING OUT, AS WELL.

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

CONTACT:
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