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AgDay Daily Recap -June 6, 2013

June 6, 2013
 
 

TODAY ON AGDAY

JUNE 6, 2013

 

MONSANTO UPDATE:

GOOD MORNING I'M CLINTON GRIFFITHS. COULD THE CASE OF GMO WHEAT THAT APPEARED IN AN OREGON FIELD BE A CASE OF SABOTAGE? THE MAKER OF THAT SEED IS RAISING THAT QUESTION. MONSANTO SAYS SO FAR IT'S TESTED 30 THOUSAND SAMPLES OF 50 VARIETIES OF WHITE WHEAT. THAT EQUATES TO ROUGHLY 60 PERCENT OF ALL THE WHITE WHEAT ACRES IN OREGON AND WASHINGTON. SO FAR IT HAS DISCOVERED NO PRESENCE OF ITS "ROUNDUP READY" HERBICIDE TOLERANT TRAIT. THE COMPANY'S CHIEF TECHNOLOGY OFFICER SAYS THEY'VE EVEN TESTED FOUNDATION SEED AND FOUND NOTHING.

FARM BILL:

ON TUESDAY, SENATE MAJORITY LEADER HARRY REID FILED A CLO-TURE MOTION TO BEGIN FORCING AN END TO DEBATE.

TEXAS DROUGHT:

A COMPLETED FARM BILL IS LIKELY TO RENEW HELP TO RANCHERS STRUGGLING THROUGH HISTORIC DROUGHT IN THE SOUTHERN PLAINS AND SOUTHWEST. NATIONAL REPORTER TYNE MORGAN RETURNS TO THE TEXAS PANHANDLE THIS MORNING, WHERE CONDITIONS CONTINUE TO DETERIORATE.

CROP WATCH:

IN SAUK COUNTY, WISCONSIN, ONE FARMER TOLD US HE JUST FINISHED PUTTING IN THE BEANS. THEY FINISHED CORN ON THE 22ND OF MAY. HE'S THANKFUL TO BE DONE AT THIS TIME COMPARED TO OTHER PRODUCERS. IN PALO ALTO COUNTY, IOWA, THEY GOT ANOTHER INCH AND A HALF OF RAIN ON THEIR ALREADY WATERLOGGED SOIL. THE LAST TIME THEY WERE IN THE FIELD IS MAY 16TH. YOU KNOW IT'S TOUGH WHEN THE FARMER SAYS " HE CAN'T WAIT UNTIL NEW YEAR'S WHEN IT'S ALL OVER" IN COLORADO "NASS" SAYS WARM SPRING TEMPERATURES IN LOCALIZED AREAS HAVE PUSHED DEVELOPMENT OF SOME CROPS, BUT THERE IS ALSO A LINGERING CONCERN ABOUT A WATER SUPPLY SHORTAGE.  RIGHT NOW 61-PERCENT OF TOPSOIL IS SHORT TO VERY SHORT... DETEIORATING ANOTHER SEVEN POINTS FROM LAST WEEK

GMO WHEAT:

AN UPDATE TO A STORY WE'VE BEEN FOLLOWING OUT OF OREGON. MONSANTO SAYS SO FAR THERE ARE NO SIGNS OF ANY GMO WHEAT IN SAMPLES TAKEN FROM OREGON AND WASHINGTON STATE.

RABOBANK BRAZIL:

IN AGRIBUSINESS TODAY - LOGISTICS AND INFRASTRUCTURE IN BRAZIL CONTINUE TO HINDER ITS POTENTIAL TO COMPETE IN GRAIN TRADE. ROBBO-BANK SAYS 2013 IS LIKELY TO BE A VERY DIFFICULT YEAR FOR AGRIBUSINESS LOGISTICS IN BRAZIL. THE BANK POINTS TO THREE FACTORS - NEW LEGISLATION IMPACTING THE WORKING HOURS OF TRUCK DRIVERS, A SHARP INCREASE IN DIESEL PRICES, AND RISING EXPORT VOLUMES FOR MAJOR COMMODITIES. RABOBANK SAYS DESPITE CURRENT CONSTRUCTION PROJECTS TO IMPROVE BRAZIL'S TRANSPORT AND EXPORTING CAPACITY, VIRTUALLY NOTHING CAN BE DONE TO ALLEVIATE THE CURRENT PRESSURE ON THE SYSTEM IN THE SHORT TERM, OR TO PREVENT IT FROM INTENSIFYING THIS YEAR.

ANALYSIS:

BRAZIL'S LOGISTICS TROUBLE HAS MARKETERS EXPECTING STRONG DEMAND FOR OLD CROP SOYBEANS. BUT IS THERE ANY LEFT ON THE FARM. FARM DIRECTOR AL PELL DISCUSSES THAT AND WHAT IT MEANS FOR OLD CROP PRICES IN THIS MORNING'S ANALYSIS.

LEARNING FROM HORSES:

WHAT CAN WE LEARN FROM HORSES? THAT QUESTION IS BEING EXPLORED AND ANSWERS REVEALED WITH RESEARCH UNDER WAY AT THE UNIVERSITY OF KENTUCKY. A PILOT STUDY IS EXPLORING THE EFFECTIVENESS OF WORKING WITH HORSES TO DEVELOP EMOTIONAL INTELLIGENCE. IN THIS REPORT PROVIDED BY THE UNIVERSITY OF KENTUCKY, JEFF FRANKLIN TAKES A LOOK AT THE PIONEERING RESEARCH. DUE TO THE SMALL NUMBER OF PARTICIPANTS INVOLVED IN THE PILOT STUDY MAKES IT DIFFICULT TO SAY WITH ANY ACCURACY THAT TEACHING LEADERSHIP USING HORSES IS EFFECTIVE. BUT RESEARCHERS AT THE UNIVERSITY OF KENTUCKY SAY THE INITIAL RESULTS ARE ENCOURAGING AND  COULD LEAD TO FUTURE RESEARCH PROJECTS.

MEAT EXPORTS:

IN FOOD AND YOUR FAMILY - APRIL EXPORTS OF U-S BEEF AND PORK EDGED HIGHER THAN THE PREVIOUS MONTH BUT STILL LAGGED BEHIND YEAR-AGO LEVELS. THE U-S MEAT EXPORT FEDERATION SAYS SOME OF THE BIGGER IMPORTERS OF U-S MEAT REALLY BOOSTED THEIR PURCHASES. FOR INSTANCE, JAPAN REGAINED ITS RANKING AT THE NUMBER ONE MARKET FOR U-S BEEF. THIS IS THE FIRST TIME SINCE 2003. BEEF EXPORTS TO JAPAN ARE UP 49-PERCENT COMPARED TO THE SAME TIME PERIOD LAST YEAR. DESPITE BIG GAINS IN JAPAN, THE OVERALL EXPORT PICTURE FOR BEEF SHOWS ONLY A TWO PERCENT GAIN FROM A YEAR AGO. ONE BIG REASON FOR THE SLOWER PACE IS RUSSIA'S SUSPENSION OF IMPORTS OF U.S. BEEF AND PORK, WHICH OFFICIALLY CLOSED THE MARKET FEBRUARY 11TH. EXPORTS TO CANADA AND MEXICO WERE ALSO SOFTER,

BEEF PRICES:

HERE ON THE HOMEFRONT - FOOD PRICE INFLATION SHOULD BE LOW THIS YEAR, EXCEPT WHEN IT COMES TO BEEF PRICES. ECONOMISTS AT USDA SAY RIGHT NOW THE COUNTRY IS BASICALLY ON TRACK FOR A YEAR OF "NORMAL" FOOD INFLATION, UP TWO-AND-A-HALF TO THREE-AND A HALF PERCENT, BUT WHEN IT COMES TO THE MEAT LOCKER, BEEF PRICES ARE SHOOTING HIGHER.

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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