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AgDay Daily Recap -June 3, 2013

June 3, 2013
 
 

TODAY ON AGDAY

JUNE 3, 2013

 

PLANTING EXTENSION:

GOOD MORNING I'M CLINTON GRIFFITHS. MANY FARMERS IN THE MIDWEST ARE STRUGGLING TO FINISH STRONG WITH THEIR SPRING PLANTING. AND THEY'RE PUSHING-UP AGAINST CROP INSURANCE DEADLINES.

CROP PROGRESS:

THE CROP PROGRESS REPORT RELEASED LAST TUESDAY SHOWS IOWA CORN AT 85-PERCENT. THE 5 YEAR AVERAGE IS 98-PERCENT.  MISSOURI CORN IS 83-PERCENT COMPLETED, JUST FIVE POINTS BEHIND AVERAGE. ILLINOIS 89. INDIANA 86. BUT AGAIN, THE PLANTING CUT-OFF DATES - AS IT PERTAINS TO CROP INSURANCE - HAVE ALREADY PASSED. FIELD WORK HAS BEEN STALLED IN MANY AREAS OF THE COUNTRY DUE TO EXCESSIVE RAIN. CHRIS BARRON - WHO IS THE MARGINS EXPERT FOR TOP PRODUCER MAGAZINE - POSTED A PREVENT PLANTING CALCULATOR ON AGWEB TO HELP YOU WEIGH YOUR OPTIONS.

ACRE SIGNUP:

TODAY IS THE LAST DAY FARMERS IN THE MIDWEST CAN SIGN UP FOR THE AVERAGE CROP REVENUE ELECTION PROGRAM. ACRE IS A VOLUNTARY GOVERNMENT FARM SUBSIDY PROGRAM. IT TRADES TWENTY PERCENT OF THE DIRECT PAYMENTS FARMERS RECEIVE FOR A LOW PRICE, LOW YIELD, LOW INCOME INSURANCE PROGRAM.  HOW DO YOU KNOW IF THIS PROGRAM IS RIGHT FOR YOU? A FARM MANAGEMENT SPECIALIST FROM THE UNIVERSITY OF ILLINOIS TELLS US SOME OF THE FACTORS WHICH MIGHT INFLUENCE THE DECISION.

SEVERE WEATHER:

WET WEATHER, HEAVY RAIN, FLOODING AND TORNADOS STRETCHED ACROSS THE COUNTRY LAST WEEK. TORNADOS WERE REPORTED IN OKLAHOMA AND ARKANSAS. AT LEAST, 9 PEOPLE WERE REPORTEDLY INJURED.  FURTHER NORTH, FIELDS ARE COVERED IN WATER AS RENTLESS RAINS DROWN NEWLY EMERGED CORN. IN IOWA, IT'S BEEN THE WETTEST SPRING SINCE THE EARLY 1890'S.

CROP WATCH:

MIKE HOFFMAN TAKES A CLOSER LOOK AT SOME CROP CONDITIONS ON THIS MONDAY MORNING.

FARM BILL:

IN WASHINGTON, THE SENTATE EXPECTS TO GET BACK TO WORK ON A NEW FIVE YEAR FARM BILL THIS WEEK. ACCORDING TO IOWA SENATOR CHUCK GRASSLY, THE 500 BILLION DOLLAR BILL COULD BE WRAPPED UP IN THAT CHAMBER BY FRIDAY. IF THE HOUSE MAKES SIMILAR PROGRESS, THE BILL COULD BE FINISHED AND READY FOR THE PRESIDENT'S SIGNATURE BY AUGUST. GRASSLEY EXPECTS THE SENATE TO CONTINUE ITS WORK ON IMMIGRATION ONCE THE FARM BILL IS COMPLETE.

AG EXPORTS:

USDA EXPECTS 2013 TO BE ANOTHER BIG YEAR FOR U.S. AGRICULTURAL GOODS ABROAD.
LATE LAST WEEK THE DEPARTMENT RELEASED IT'S ANNUAL OUTLOOK FOR EXPORTS IN 2013.

FARM SAFETY STATS:

AND NEW SAFETY STATS FROM THE USDA AND OSHA SHOWS THAT TRACTORS CONTNUE TO BE THE LEADING CAUSE OF FATALITIES IN AGRICULTURE.THE SURVEY SHOWS MORE THAN 3-THOUSAND OPERATIONS WERE ESTIMATED TO HAVE AT LEAST ONE TRACTOR OVERTURN IN THE PAST YEAR--AND A LITTLE MORE THAN HALF HAD A ROLLBAR. ATV's AND STORAGE FACILITIES LIKE MANURE AND SILOS WERE ALSO LISTED AS POTENTIAL HAZARDS.

SMITHFIELD:

NEWS OF SMITHFIELD FOOD'S SALE TO CHINESE FIRM SCHUNG-WAY INTERNATIONAL HOLDINGS HAS MANY ANTICIPATING A RISE IN U.S. PORK EXPORTS TO CHINA IN COMING YEARS.  THE U.S. GRAINS COUNCIL SAYS REGARDLESS OF HOW MUCH PORK GOES TO CHINA, IT SHOULDN'T IMPACT EXPECTED FUTURE DEMAND FOR U.S. CORN. CURRENTLY USDA EXPECTS ANNUAL CORN IMPORTS IN CHINA TO HIT 20 MILLION TONS WITHIN THE NEXT DECADE. HOWEVER, AG ECONOMIST CHRIS HURT FROM PURDUE UNIVERSITY SAYS THE SMITHFIELD DEAL COULD SIGNAL A FUNDAMENTAL CHANGE IN CHINESE POLICY. HURT SAYS CHINA'S GROWING ECONOMY MEANS CONTINUING DEMAND FOR PROTEIN FROM CONSUMERS WHO CAN NOW AFFORD PORK AND BEEF IN THE DOMESTIC DIET.

CME GROUP:

AND IN MARKETS THE CME GROUP SAYS IT HIT A RECORD WEDNESDAY.  THE SINGLE-DAY VOLUME TOTALED NEARLY 27 MILLION CONTRACTS. THE PREVIOUS HIGH WAS BACK IN AUGUST OF 2011.

ANALYSIS:

MARKETS ARE WATCHING CLOSLY AS FARMERS WORK TO FINISH PLANTING. QUESTIONS REMAIN ON HOW MANY ACRES WILL BE PLANTED, NEED REPLANTING OR ARE LEFT FALLOW. AL PELL ASKS THE QUESTION IN TODAY'S ANALYSIS.

ANGUS:

UNLESS YOU LIVE THE WORK EVERYDAY, YOU MIGHT NOT KNOW EXACTLY WHAT GOES INTO A TYPICAL WORK DAY OUT ON THE MONTANA PLAINS. NEITHER DID LAUREN CHASE WHEN SHE STARTED WORK FOR THE MONTANA STOCKGROWERS ASSOCIAITON. BUT AS WE SEE IN THIS STORY FROM OUR FRIENDS OVER THE AMERICAN ANGUS ASSOCIATION, SHE'S LEARNING QUICKLY

12 MINUTE EXERCISE:

ONE OF THE BIGGEST EXCUSES TO NOT EXERCISING IS A LACK OF TIME. WELL IF YOU CAN FIND 12 MINUTES A WEEK, THAT MIGHT BE ENOUGH SAYS A NEW RESEARCH STUDY.

PEANUT BREEDER:

THE UNIVERSITY OF FLORIDA'S PEANUT-BREEDING PROGRAM IS THE OLDEST IN THE NATION AND TODAY PEANUT BREEDING PROGRAM CONTINUES TO HAVE SUCCESS. BUT THERE IS A CONSTANT NEED FOR NEW VARIETIES WITH HIGHER YIELDS AND IMPROVED CHARACTERISTICS TO KEEP THE INDUSTRY GROWING. WE HEAR FROM BARRY TILLMAN, WHO IS A PLANT BREEDER FOR THE UNIVERSITY OF FLORIDA.

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

CONTACT:
We'd love to hear from you! Contact us at 800-792-4329. Or drop an email to inbox@agday.com. You can also check us out on Facebook.

 

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