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AgDay Daily Recap -November 05, 2013

November 5, 2013
 
 

TODAY ON AGDAY

NOVEMBER 05, 2013

 

                          
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                                
 

CORN PRICES DOWN:

GOOD MORNING I'M CLINTON GRIFFITHS. CORN HITS A THREE YEAR LOW ON CONTINUING NEWS OF AN ABUNDANT CORN CROP AND STRONG HARVEST CONDITIONS.

REPORT ESTIMATE:

USDA WILL RELEASE ITS NEXT CROP PRODUCTION REPORT THIS FRIDAY. INTEREST IS HIGH IN THIS REPORT SINCE THE AG DEPARTMENT CANCELLED ITS OCTOBER REPORT DUE TO THE LIMITED GOVERNMENT SHUTDOWN. IN ADVANCE OF THAT GOVERNMENT REPORT, REUTERS NEWS SERVICE COMPILED PRE-REPORT ESTIMATES FROM NEARLY 30 GRAIN ANALYSTS AND MARKETING FIRMS, SUCH AS INFORMA ECONOMICS, ALLENDALEN AND WATER STREET SOLUTIONS. THE HIGHEST TRADE ESTIMATE ON CORN PRODUCTION IS 14-POINT-THREE BILLION BUSHELS. ON THE LOW END IT'S 13-POINT-FOUR BILLION BUSHELS. ON CORN YIELD THE HIGHEST ESTIMATE IS 163-THREE. THE LOWEST IS 155-SIX.

CROP PROGRESS:

THIS WEEK'S CROP PROGRESS REPORT SHOWS CORN HARVESTED MOVES AHEAD OF THE FIVE YEAR AVERAGE. 73-PERCENT IS IN THE BIN, TWO POINTS AHEAD OF AVERAGE. IT'S A 14 POINT JUMP FROM THE PREVIOUS WEEK. SOYBEAN HARVEST ALSO PUSHED AHEAD OF THE AVERAGE MARK. 86-PERCENT IS NOW COMPLETED, A POINT AHEAD OF AVERAGE.
AND NINE POINTS AHEAD OF LAST WEEK. COTTON PICKING CONTINUES TO LAG BEHIND WITH 43-PERCENT AT THE GIN. IT'S 11 POINTS BEHIND AVERAGE. STATE BY STATE, TENNESSEE HAS THE BIGGEST DELAYS. IT'S BEHIND BY 53 POINTS. WINTER WHEAT PLANTING IS NEARLY ALL SEEDED. IT'S AT 91-PERCENT.

ORGANIC ACRES:

THE USDA'S ERS TEAM SAYS ORGANIC ACRES TICKED BACK UP. THE LATEST DATA COMES FROM 2011. THE U.S. HAD MORE THAN 3 MILLION ACRES OF CERTIFED ORGANIC CROPLAND...RECLAIMING THE ACRES IT LOST DURING THE ECONOMICALLY SLUGGISH 2008 TO 2010 CROP YEARS.

CROP WATCH:

LET'S SEE HOW THINGS ARE SHAPING-UP TODAY WEATHER-WISE. MIKE HOFFMAN HAS YOUR FIRST FARM COUNTRY WEATHER. GOOD MORNING MIKE.

HORSE SLAUGHTER:

THE FIGHT OVER WHETHER OR NOT RESTART THE SLAUGHTER OF HORSES IN THIS COUNTRY CONTINUES. OWNERS OF PLANTS IN NEW MEXICO, MISSOURI AND IOWA SAY THEY'RE PREPARING TO GO TO WORK AFTER A U.S. DISCTRICT JUDGE THREW OUT A LAWSUIT FILED BY THE HUMANE SOCIETY OF THE UNITED STATES. THE JUDGE SAID THE PROCESSORS WERE PROPERLY ISSUED THEIR GRANTS OF INSPECTION. THE HSUS ALLEGES THE USDA FAILED TO CONDUCT THE PROPER ENVIRONMENTAL REVIEWS BEFORE ISSUING THOSE GRANTS OF INSPECTION. THE DECISION IS EXPECTED TO BE APPEALED. THE OWNERS OF VALLEY MEAT TOLD OUR PARTNERS AT AGRI-TALK THAT THEYE EXPECT TO BE OPERATIONAL IN SEVEN-TO-TEN DAYS. BUT THEY STILL WONDER IF USDA INSPECTORS WILL SHOW-UP.

MILK PRODUCTION:

IN NEWS FROM OUR PARTNERS AT DAIRY TODAY - THE LATEST MILK PRODUCTION NUMBERS SHOWS PRODUCTION IS UP FROM SEPTEMBER LAST YEAR. THE 23 MAJOR PRODUCING STATES MILKED NEARLY 15 BILLION POUNDS UP ABOUT 1 PERCENT YEAR OVER YEAR. THE PER COW AVERAGE CAME IN AT 17-HUNDRED 41 POUNDS PER COW.

ALFALFA:

HOW LATE IN THE SEASON CAN YOU HARVEST THAT LAST CUTTING OF ALFALFA? OBVIOUSLY, IT DEPENDS ON WHICH REGION OF THE COUNTRY YOU FARM. IN THIS REPORT FROM AGDAY AFFILIATE KVLY, MICK CARE SAYS YOU MIGHT BE SURPRISED HOW LATE YOU CAN GO...EVEN IN THE NORTH.

RIVER NITRATES:

IN AGRIBUSINESS TODAY - A NEW STUDY FROM THE U-S GEOLOGICAL SURVEY SHOWS SOME ENCOURAGING NEWS WHEN IT COMES TO NITRATE LEVELS IN RIVERS THAT FLOW THROUGH THE CORN BELT. NITRATES ARE OFTEN ASSOCIATED WITH THE SO-CALLED "DEAD ZONE" IN THE GULF OF MEXICO. THE U-S-G-S DATA SHOWS NITRATE LEVELS IN THE ILLINOIS RIVER HAVE DECREASED 21-PERCENT SINCE 2000. THAT RIVER STARTS NEAR CHICAGO AND CUTS THRU THE STATE TOWARDS ST. LOUIS WHERE IT DUMPS INTO THE MISSISSIPPI. HOWEVER, U-S-G-S SAYS THE NITRATES CONTINUE TO RISE ON THE MISSISSIPPI AND THE MISSOURI RIVERS. THERE HAVE BEEN NO MULTI-YEAR DECREASES. NITRATE LEVELS ON THE OHIO HAVE REMAINED CONSISTENT DURING THE SAME TEN YEAR STUDY PERIOD.

ANALYSIS:

IN AGRIBUSINESS THIS MORNING, AS CROPS COME IN MANY PRODUCERS ARE WEIGHING THEIR OPTIONS...INCLUDING WHETHER TO STORE THE GRAIN OR SELL IT OFF THE COMBINE.
FARM DIRECTOR AL PELL JOINS US FROM THE AGRIBUSINESS DESK WITH A LOOK AT WHAT MARKETING FACTORS FARMERS SHOULD BE CONSIDERING RIGHT NOW.

YOGURT RESEARCH:

WHETHER IT'S BREAKFAST, LUNCH OR SNACK, IT APPEARS AMERICAN'S APPETITE FOR YOGURT IS NOT WANING. YOGURT PRODUCTION IN THIS COUNTRY HAS GROWN BY THREE-AND-A-HALF BILLION POUNDS SINCE THE LATE 1980'S. AND MOST OF THAT GROWTH CAME IN THE PAST FIVE YEARS DUE TO THE SUCCESS OF GREEK YOGURT. AND EVEN WITH THAT SUCCESS, RESEARCHERS ARE LOOKING AT WAYS TO MAKE YOGURT EVEN HEALTHIER. IN THIS REPORT PROVIDED BY THE LSU AGCENTER, TOBIE BLANCHARD VISITED THE DAIRY SCIENCE LABS TO LEARN MORE ABOUT EFFORTS TO MAKE "GOOD" EVEN BETTER.
GMO VOTE WASHINGTON:

ON THIS ELECTION DAY THE FOOD AND AGRICULTURE INDUSTRIES WILL BE WATCHING THE STATE OF WASHINGTON VERY CLOSELY.

KELLOGGS DEAL:

CEREAL MAKER, KELLOGG COMPANY SAYS IT'S REDUCING ITS GLOBAL WORKFORCE BY 7 PERCENT. IT'S PART OF A FOUR YEAR COST SAVING PLAN...THAT'S SLATED TO SAVE MORE THAN A BILLION DOLLARS. IT'S ALSO PLANNING CUT CAPACITY. KELLOG'S SALES FELL MORE THAN 2 PERCENT IN THE THIRD QUARTER...MOSTLY DUE TO INCREASED COMPETITION FROM STORE BRAND CEREALS, YOGURTS AND FROZEN BREAKFAST FOODS. THE MICHIGAN BASED COMPANY SAYS IT'S A DIFFICULT DECISION BUT ENABLES KELLOGG TO INCREASE INVESTMENT ELSEWHERE.

 

 

 

                                 

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