AgDay Daily Recap -May 14, 2014

May 14, 2014 02:57 AM
 

TODAY ON AGDAY

MAY 14, 2014

 

IMMIGRATION REFORM:

GOOD MORNING I'M CLINTON GRIFFITHS. THE WHITE HOUSE PRESSES CONGRESS TO TAKE ACTION NOW ON IMMIGRATION BEFORE THE LAWMAKERS GET CAUGHT-UP IN THE NEXT ROUND OF ELECTIONS.

PLANTING PROGRESS:

PLANTING MAY SLOW DOWN A BIT THIS WEEK IN PARTS OF THE MIDWEST BECAUSE OF SPRING SHOWERS. BUT FEARS OF A LATE CROP ARE SUBSIDING AFTER A VERY BUSY STRETCH OF PLANTING LAST WEEK. USDA'S CROP PROGRESS REPORT SHOWS 59% OF THE NATION'S CORN CROP IS PLANTED, PUSHING IT AHEAD OF THE FIVE YEAR AVERAGE.
THAT'S A 30-POINT GAIN FROM THE PREVIOUS WEEK.

PLANTING DELAYS:

SOME STATES ARE STILL STRUGGLING TO GET MUCH TRACTION IN THEIR FIELDS. FOR INSTANCE, MINNESOTA - THE FIFTH BIGGEST CORN PRODUCER - SITS AT 31-PERCENT PLANTED. THAT'S HALF OF THE AVERAGE. NORTH DAKOTA CORN IS JUST THREE PERCENT COMPARED TO THE FIVE YEAR AVERAGE OF 33 PERCENT. WISCONSIN AND MICHIGAN ARE 20-PERCENT PLANTED, 21 POINTS BEHIND AVERAGE.

ABANDONED WHEAT:

MEANWHILE, KANSAS IS EXPECTED TO PRODUCE ITS SMALLEST WHEAT CROP IN NEARLY TWO DECADES. DROUGHT AND DRY WEATHER HOLDING THE WHEAT BELT TO ITS TOUGHEST SEASON SINCE 1996. NASS ESTIMATES KANSAS WILL PRODUCE 260 MILLION BUSHELS OF WINTER WHEAT--ALMOST 20 PERCENT BELOW LAST YEAR. ALTHOUGH SOME ANALYSTS SAY EVEN THAT IS OPTIMISTIC...AS TRIPLE DIGIT HEAT AND HIGH WINDS CONTINUE TO ERODE YIELD POTENTIAL.

CROP WATCH:

IT'S A MIXED BAG OF WEATHER RIGHT NOW. BUT ONE THING IS CLEAR, IT'S SLOW GOING IN THE UPPER MIDWEST. MIKE HOFFMAN HAS DETAILS, MIKE.

TRADING:

IT WAS BLUNT CONVERSATION TUESDAY AT THE SENATE AG COMMITTEE. LEADERS FROM THE CME GROUP TELLING LEGISLATORS THAT THE FINANCIAL MARKETS ARE NOT RIGGED.
THE HEARING LOOKING AT THE WORLD OF HIGH FREQUENCY TRADING AND WHETHER APPROPORIATE REGULATIONS ARE IN PLACE TO KEEP MARKETS FAIR. THE CFTC'S FORMER CHIEF ECONOMIST TOLD SENATORS THAT ONE IDEA IS TO HAVE HIGH SPEED TRADERS REGISTER WITH REGULATORS--SIMILAR TO WHAT FLOOR BROKERS OR TRADERS MUST DO.

ANALYSIS:

CATTLE MARKET'S CONTINUE TO HOLD IN RECORD TERRITORY...AND THAT'S MAKING FOR SOME INTERESTING DECISIONS THIS SPRING FOR THE NATION'S CATTLEMEN AND WOMEN. FARM DIRECTOR AL PELL HAS MORE IN ANALYSIS.

TRUE BEEF:

CULINARY STUDENTS AT ONE TEXAS HIGH SCHOOL ARE DOING MORE THAN JUST COOKING BEEF. THEY ARE LEARNING ABOUT CATTLE AND RANCHERS. IN THIS REPORT PROVIDED BY THE TEXAS FARM BUREAU, GARY JOINER TAKES US TO COOKING CLASS WHERE STUDENTS ARE FINDING OUT FIRST HAND ABOUT TRUE BEEF.

CITRUS GREENING:

IN FOOD AND YOUR FAMILY - USDA SAYS IT WILL PUT SOME FUNDS TOWARDS THE FIGHT AGAINST CITRUS GREENING.

FOOD STAMPS:

AND NEW NUMBERS OUT REGARDING THE FEDERAL SUPPLEMENT NUTRITIONAL ASSISTANCE PROGRAM OR SNAP.

 

 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
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