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AgDay Daily Recap -May 16, 2014

May 16, 2014
 
 

TODAY ON AGDAY

MAY 16, 2014

 

LAND VALUES:

GOOD MORNING I'M CLINTON GRIFFITHS. IT'S SIMPLE ECONOMICS - THE LESS FARM INCOME YOU HAVE, THE LOWER THE LAND VALUES. AND THAT LESSON IS PROVING TRUE IN SOME OF THE KEY AG REGIONS OF THE COUNTRY.

CHICAGO:

BREAKING IT DOWN - IN THE CHICAGO DISTRICT, WHICH COVERS THE HEART OF THE CORNBELT, FARMLAND VALUES IN THE DISTRICT EDGED DOWN ONE PERCENT IN THE FIRST QUARTER OF 2014 RELATIVE TO THE FOURTH QUARTER OF 2013. EVEN WITH THE FIRST QUARTERLY DECREASE IN FIVE YEARS, THE YEAR-OVER-YEAR CHANGE IN DISTRICT AGRICULTURAL LAND VALUES MANAGED TO STAY POSITIVE. BUT AT ONE PERCENT, IT'S THE SMALLEST INCREASE SINCE 2009.

ST. LOUIS:

IN THE ST LOUIS DISTRICT - COVERING SOUTHERN ILLINOIS TO NORTHERN MISSISSIPPI - QUALITY FARMLAND PRICES SLIPPED IN THE FIRST QUARTER FROM THE END OF LAST YEAR. BUT COMPARING YEAR TO YEAR, THERE WAS A SEVEN-AND-A-HALF PERCENT GAIN. A MAJORITY OF AG BANKERS IN THIS DISTRICT CONTINUE TO EXPECT FARM INCOME AND FARMLAND VALUES TO DECLINE OVER THE NEXT THREE MONTHS.

KANSAS CITY:

AND IN THE KANSAS CITY DISTRICT - WHICH COVERS THE CENTRAL PLAINS - . EXPECTATIONS OF LOWER PROFITS FOR CROP PRODUCERS HAVE GENERALLY HALTED THE RISE IN CROPLAND PRICES. FOR INSTANCE NON-IRRIGATED FARMLAND DIPPED ONE AND A HALF PERCENT FROM THE PREVIOUS QUARTER. AND IRRIGATED FARMLAND ONLY FIVE A HALF POINT. FOR OUR PARTNERS AT LANDOWNER NEWSLETTER, THE SURVEY RESULTS FROM THE THREE DISTRICTS COME AS NO SURPRISE.

DROUGHT:

NOAA JUST RELEASED ITS SEASONAL DROUGHT OUTLOOK. THIS RUNS FROM JUNE THROUGH AUGUST.  IT SHOWS DROUGHT PERSISTING OR INTENSIFYING FROM WESTERN ARIZONA WESTWARD ALL THE WAY INTO PARTS OF WASHINGTON STATE. THE SAME IS TRUE FOR PARTS OF NEW MEXICO, MOST OF TEXAS, HALF OF OKLAHOMA AND KANSAS. WHILE SHOWING DROUGHT HANGING ON THROUGH THE SOUTHWEST, INTO COLORADO AND NEBRASKA...WITH SOME AREAS IMPROVING.

CROP WATCH:

FROM DROUGHT IN THE WEST TO DAMP IN THE MIDWEST, MIKE HOFFMAN HAS YOUR FRIDAY MORNING CROPWATCH, MIKE.

AFRICANIZED BEES:

AFRICANIZED HONEY BEES CONTINUE TO MOVE NORTHWARD.

HONEY BEES:

MEANWHILE THERE IS SOME GOOD NEWS PERTAINING TO HONEY BEE SURVIVAL DURING THIS PAST WINTER. USDA SAYS TOTAL LOSSES OF MANAGED HONEYBEE COLONIES FROM ALL CAUSES WERE 23-PERCENT NATIONWIDE. THAT'S A NOTICEABLE DROP FROM THE 31-PERCENT LOSSES FROM THE WINTER OF 2012-13. THE EIGHT YEAR AVERAGE IS ABOUT 30-PERCENT. WHILE LOWER THAN PREVIOUS YEARS, THOSE LOSSES ARE STILL HIGHER THAN WHAT BEEKEEPERS CONSIDER AS "ECONOMICALLY SUSTAINABLE". ONE CO-AUTHOR OF THE STUDY SAYS THE UNSTABLE RESULTS SHOW THERE'S NOT A SINGLE CAUSE OR SOLUTION TO BEE COLONY LOSSES.

SOYBEAN MOTOR OIL:

AFTER RUNNING A MILLION MILES IN LAS VEGAS TAXICABS--HIGH OLEIC SOYBEAN MOTOR OIL IS ON ITS WAY TO COMMERCIALIZAITON. THAT'S ACCORDING TO THE UNITED SOYBEAN BOARD. HIGH OLEIC BEAN OIL IS MORE STABLE AT HIGH HEAT--AND DOESN'T EVAPORATE. THE OIL HAS NOW BEEN CERTIFIED BY THE AMERICAN PETROLEUM INSTITUTE . THE MOTOR OIL MARKET USES ABOUT 1 BILLION GALLONS OF OIL A YEAR.

LABELING COSTS:

A NEW STUDY BY CORNELL UNIVERSITY SAYS LABELING GMO FOODS WILL END UP COSTING A FAMILY OF FOUR BETWEEN 500 AND 800 DOLLARS EXTRA A YEAR. THE STUDY ALSO SAYS A STATE LIKE NEW YORK WOULD SPEND MILLIONS OF DOLLARS TO IMPLEMENT AND MONITOR THESE LABELS.  THIS FOLLOWS ON THE HEELS OF VERMONT'S RECENTLY APPROVED GMO LABELING LAW.

PROFIT BRIEFING:

AS WE REPORTED EARLIER THIS WEEK, U-S CORN GROWERS MADE BIG GAINS IN GETTING THAT CROP INTO THE GROUND. NATIONALLY IT JUMPED 30 POINTS AND IS NOW AHEAD OF THE FIVE YEAR AVERAGE. IOWA FARMERS PLANTED SIX AND A HALF MILLION ACRES OF CORN IN JUST ONE WEEK.

CANINE DONATIONS:

EVERYONE KNOWS ABOUT BLOOD-DRIVES AND BLOODMOBILES FOR HUMANS. BUT A BLOODMOBILE FOR DOGS? THE UNIVERSITY OF PENNSYLVANIA'S VETERINARY SCHOOL OPERATES ONE THAT COLLECTS BLOOD FROM PETS AROUND PHILADELPHIA. FROM THE ASSOCIATED PRESS, NED BARKER - AND WE'RE NOT KIDDING THERE - NED BARKER TELLS US ABOUT CANINES WHO CARE.

RECIPE:

TODAY'S "FROM THE FARM FAVORITE" RECIPE COMES FROM A COUPLE OF FAITHFUL VIEWERS IN GARFIELD, MINNESOTA. KEITH AND KAREN SCHULTZ WATCH US EVERY MORNING WHILE EATING BREAKFAST. SO GOOD MORNING TO YOU.

GREAT AMERICAN BARNS:

IF YOU HAVE EVER TRAVELED TO DOOR COUNTY, WISCONSIN TO ENJOY ITS SPECTACULAR SCENERY, CHANCES ARE YOU SAW TODAY'S GREAT AMERICAN BARN. DOOR COUNTY IS A POPULAR MIDWEST VACATION SPOT.

 

 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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