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AgDay Daily Recap -July 22, 2013

July 22, 2013
 
 

TODAY ON AGDAY

JULY 22, 2013

 

WEST COAST PORTS:

GOOD MORNING I'M CLINTON GRIFFITHS. IT'S NO SECRET THAT CHINA HAS BECOME THE LARGEST EXPORT CUSTOMER FOR U-S SOYBEANS, BUT DO YOU KNOW WHAT IMPACT THAT DEMAND IS HAVING ON SHIPPING PORTS IN THE PACIFIC NORTHWEST? WHILE WE OFTEN TALK ABOUT THE SIGNIFICANCE OF THE MISSISSIPPI RIVER FOR GRAIN SHIPMENTS, YOU CAN'T OVERLOOK THE SIGNIFICANCE OF THE PACIFIC NORTHWEST. IN RECENT YEARS, THE AMOUNT OF SOYBEAN SHIPMENTS FROM THE P-N-W TO CHINA HAVE EXPLODED. THE EXPORT LOGISTICS ARE PROVING TO BE PROFITBLE FOR FARMERS IN SOUTH DAKOT AND WESTERN MINNESOTA. THE SOUTH DAKOTA SOYBEAN COUNCIL TOURED WASHINGTON STATE ON A 'SEE FOR YOURSELF TOUR' TO LEARN MORE. AGDAY REGIONAL REPORTER MICHELLE ROOK TRAVELED WITH THE GROUP TO GAUGE THE IMPACT.

MAINSTREET INDEX:

IT APPEARS THOSE HUGE LAND PRICES WE SAW ALL LAST YEAR MAY BE TEMPERED SOMEWHAT. A NEW STUDY CONDUCTED BY CREIGHTON UNIVERSITY SAYS THE RATE OF GROWTH IN U-S LAND PRICES HAVE SLOWED. GOSS SAYS THAT RURAL BANKERS EXPECT FARM INCOME THIS YEAR TO BE DOWN BY 3 PERCENT FROM LAST YEAR. HIS MAINSTREET INDEX ALSO SAYS FARM EQUIPMENT SALES ALSO SOFTENED FOR JULY.

CROP WATCH:

FOR THOSE OF US WHO STRUGGLED THRU THE SHARP WARM-UP LAST WEEK, THE WEEKEND PROVIDED RELIEF TO SOME. LET'S CHECK IN WITH METEOROLOGIST MIKE HOFFMAN FOR YOUR MONDAY MORNIGN CROPWATCH. MIKE.

MONSANTO:

MONSANTO SAYS IT'S OFFICIALLY DROPPING ALL REQUESTS TO GROW NEW GMO CROPS IN THE EUROPEAN UNION. THE COMPANY CLAIMS IT BOILS DOWN TO A LACK OF COMMERCIAL PROSPECTS. THE SEED GIANT SAYS INSTEAD, IT WILL FOCUS ON CONVENTIONAL SEEDS AND WORK TO SECURE IMPORT APPROVALS FOR GM CROPS GROWN IN THE U.S.  BASF MADE A SIMILAR MOVE LAST YEAR.

CATTLE DEMAND:

FEEDER CATTLE FUTURES ENDED THE WEEK CLIMBING ON SIGNS OF RECOVERING DEMAND.
EXPORT SALES OF BEEF WERE UP 5% THE WEEK OF JULY 11TH. THAT'S COMPARED TO THE PREVIOUS WEEK. WHAT'S CHANGED? SEVERAL THINGS INCLUDING, WHOLESALE BEEF PRICES HAVE FALLEN FROM THEIR RECORD HIGHS IN MAY-- AND NOW DOWN ABOUT 10%.

CATTLE ON FEED:

ACCORDING TO USDA'S LATEST CATTLE ON FEED NUMBERS. FEEDLOTS WITH A CAPACITY OF ONE THOUSAND HEAD OR MORE TOTALED 10.4 MILLION HEAD AS OF JULY 1. THAT'S ABOUT 3% BELOW LAST YEAR. NUMBERS OF HEIFERS WERE DOWN MORE THAN STEERS. PLACEMENTS WERE DOWN 5 PERCENT AND MARKETING OF FED CATTLER WERE OFF 4. FEEDER CATTLE PRICES HAVE SEEN A RUN UP IN THE LAST 3-4 WEEKS. ANALYSTS EXPECT THAT TO CONTINUE INTO THE SECOND HALF OF THE YEAR.

MEXICAN BEEF IMPORTS:

DERRELL ALSO SAYS, HE EXPECTS BEEF IMPORTS FROM MEXICO TO SLOW FOR THE FIRST TIME IN 4 YEARS. MEXICO HAS GROWN TO THE FOURTH LARGEST SOURCE OF U-S BEEF IMPORTS.  PEEL SAYS THE MEXICAN CATTLE INDUSTRY IS UNDER GOING RAPID AND DYNAMIC CHANGE. THIS IS IMPACTING BEEF FLOWS BETWEEN THE TWO COUNTIES.

CRUDE OIL:

IN AGRIBUSINESS CRUDE OIL IS ON THE RISE ADDING TO THE LIKELIHOOD OF HIGHER PRICES AT THE PUMP.

ANALYSIS:

AFTER A COUPLE OF YEARS WITH SHORT CROPS AND HIGH PRICES, DOWNWARD PRESSURE IS ALREADY STARTING TO FIND ITS WAY INTO GRAIN MARKETS. IN ANALYSIS THIS MORNING, FARM DIRECTOR AL PELL DISCUSSES MARKETING STRATEGIES FOR 2013 AND BEYOND.

TRAVELING SPRAYER:

WHEN YOU'RE SPRAYING YOUR FIELDS WITH FERTILIZER OR PESTICIDES, HOW MANY ACRES DO YOU COVER IN A SINGLE DAY? THEN IMAGINE - JUST HOW LONG IT WOULD TAKE TO SPRAY A MILLION ACRES OF FARM LAND. GLEN SLABAUGH DOESN'T HAVE TO IMAGINE. HE'S REACHED THAT MILESTONE. HE'S BEEN COVERING CORN AND SOYBEAN FIELDS IN INDIANA FOR MORE THAN 37 YEARS. THIS YEAR, HE WAS NAMED NATIONAL "OPERATOR OF THE YEAR" BY AGCO APPLICATION EQUIPMENT. WE CAUGHT UP WITH GLEN WHILE HE WAS WORKING THE FIELDS NEAR LEESBURG, INDIANA.

CITRUS FREEZER:

IN THE MIDST OF A INDUSTRY THREATENING DISEASE OUTBREAK, THE USDA SAYS ITS PLANNING TO STORE CITRUS GERMPLASM IN HOPES OF PRESERVING PLANT MATERIAL LONG TERM.

TEXAS FOOD BORN ILLNESS:

HEALTH OFFICIALS IN THREE STATES ARE LOOKING FOR THE SOURCE OF AN INTESTINAL INFECTION THAT'S SICKENED PEOPLE IN IOWA, TEXAS AND NEBRASKA.

 

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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