Oct 2, 2014
Home| Tools| Events| Blogs| Discussions| Sign UpLogin

AgDay Daily Recap -June 26, 2014

June 26, 2014
 
 

 

TODAY ON AGDAY
JUNE26, 2014
 
OPEN HEADLINES:
COMING UP TODAY ON AGDAY - THE FARM ECONOMY GETS SHIFTED INTO A LOWER GEAR. .. WHILE IN AGRIBUSINESS - THE INDUSTRY PREPARES FOR MARKET MOVING GOVERNMENT REPORTS... WHILE IN AGRIBUSINESS - THE INDUSTRY PREPARES FOR MARKET MOVING GOVERNMENT REPORTS... (GIVE THEM (SOME IDEAS, ACTIVITIES AND RESOURCES THEY CAN TAKE BACK TO THEIR CLASSROOMS) AGDAY - BROUGHT TO YOU BY CHEVY SILVERADO - THE 2014 NORTH AMERICAN TRUCK OF THE YEAR.
FARM ECONOMY: GOOD MORNING I'M CLINTON GRIFFITHS. AFTER A STRONG YEAR IN 2013, THE U.S. FARM ECONOMY IS SHOWING SIGNS OF A SLOW DOWN TO START 2014....AND THAT'S OUR TOP STORY ON AGDAY.
GLEASON FARM LAND:
THROUGH IT ALL, ONE THING THAT'S REMAINS SOLID IS THE VALUE OF GOOD FARMLAND. OUTSIDE INVESTORS MAY NOT BE BUYING AS MUCH, BUT FARMERS UNDERSTAND THE VALUE OF BUYING IT WHEN AVAILABLE.
IN THIS REPORT FROM THE UNIVERSITY OF ILLINOIS EXTENSION, TODD GLEASON TALKS WITH ONE REAL ESTATE WHO ENCOURAGES LAND OWNERS TO HOLD ONTO IT.
THAD HOLDS ON:
 MISSISSIPPI SENATOR THAD COCHRAN SURVIVED A TOUGH PRIMARY BATTLE TUESDAY. THE VETERAN LAWMAKER HUNG-ON TO WIN A RUN-OFF ELECTION WITH 51-PERCENT OF THE VOTE. COCHRAN IS THE HIGHEST RANKING REPUBLICAN ON THE SENATE AG COMMITTEE. ON THE HOUSE SIDE, HOUSE AG COMMITTEE CHAIRMAN - FRANK LUCAS OF OKLAHOMA - EASILY WON HIS PRIMARY.
BTR FEED PRICES:
CLINTON…IN OUR BEEF TODAY REPORT, FEEDER CATTLE PRICES TRADED HIGH AGAIN WEDNESDAY.
CHICAGO CONTRACTS SPENT THE DAY ABOUT TWO DOLLARS HIGHERS WITH CONTRACTS FOR SEPTEMBER, OCTOBER AND NOVEMBER ALL TRADING AT OR ABOVE 2-14 PER HUNDRED.
BTR CATTLE ON FEED STATE:
CLINTON… USDA RELEASED IT'S JUNE CATTLE ON FEED REPORT LATE LAST WEEK.
NUMBERS ARE DOWN TWO PERCENT COMPARED TO THE PREVIOUS YEAR....AND THE NUMBER OF CATTLE PUT INTO FEEDLOTS FELL 7 PERCENT.
CROP WATCH:
CLINTON…CROPWATCH THIS MORNING TAKES US FROM THE RAIN SOAKED MIDWEST TO MISSISSIPPI WHERE DOUBLE CROP BEANS ARE GOING-IN. MIKE HOFFMAN HAS DETAILS FROM THE AGDAY WEATHER-CENTER, MIKE.
TEASE:
CLINTON…THANKS MIKE…STRAIGHT AHEAD, QUARTERLY EARNINGS FROM MONSANTO PLUS A GUESS AT HOW MANY ACRES ACTUALLY GOT PLANTED...THIS YEAR AND HOW IT COULD IMPACT MARKETS GOING FORWARD.
AGDAY REOPEN:
YOU ARE WATCHING AGDAY - HOSTED BY CLINTON GRIFFITHS, NATIONAL REPORTER TYNE MORGAN, FARM DIRECTOR AL PELL AND METEOROLOGIST MIKE HOFFMAN. AGDAY THE COUNTRY EXPERIENCE.>
MONSANTO EARNINGS:
CLINTON…IN AGRIBUSINESS TODAY - MONSANTO SAID ITS EARNINGS FELL MORE THAN 5 PERCENT IN THE THIRD FISCAL QUARTER ON LOWER SALES OF BIOTECH SEEDS. STILL ITS PERFORMANCE WAS BETTER THAN WHAT WALL STREET MARKET ANALYSTS WERE EXPECTING. IT ALSO ANNOUNCED PLANS TO REPURCHASE 10 BILLION DOLLARS IN SHARES. THE COMPANY THE BUYBACK WILL TAKE PLACE OVER THE NEXT TWO YEARS.
ANALYSIS INTRO:
CLINTON…THE MARKET IS GETTING READY FOR A COUPLE OF MAJOR REPORTS. USDA WILL RELEASE THE JUNE ACREAGE REPORT AND THE QUARTERLY GRAIN STOCKS REPORT ON MONDAY.
ROACH PLANTING INTENTIONS:
CLINTON… IN ADVANCE OF THE RELEASE, ROACH AG MARKETING IS FORECASTING CORN ACRES WILL BE DOWN TWO-POINT-FOUR MILLION ACRES FROM THE MARCH PLANTING INTENTIONS REPORT RELEASED BY USDA. FINAL PLANTED CORN ACRES - ACCORDING TO ROACH - IS 89 MILLION ACRES. AS WE'VE BEEN REPORTING, THE WET SPRING IN THE NORTHWEST CORN BELT AND UPPER MIDWEST LED TO THE DECLINE.
MEANWHILE, SOYBEAN ACRES ARE UP SLIGHTLY. FARM DIRECTOR AL PELL TAKES A CLOSER LOOK AT WHAT WE COULD SEE IN MONDAY'S REPORT, AL.
ANALYSIS:
HERE AT THE AGRIBUSINESS DESK WE'RE TALKING TO CHIP NELLINGER FROM BLUE REEF AGRIMARKETING CHIP LET'S TALK A LITTLE BIT ABOUT THE CORN SITUATION AT THIS POINT IN TIME LOOKS LIKE WE'VE GOT A LOT PLANTED AND A LOT CAME OUT OF THE GROUND AND IT LOOKS REAL GOOD EXCEPT SOME AREAS IT'S PRETTY WET BUT THAT'S NOT THE WHOLE STORY. IT'S NOT IT'S NOT THE WHOLE STORY WERE GOING TO GET SOME MORE PIECES OF THE PUZZLE WITH THE JUNE 30TH STOCKS AND ACREAGE REPORT AND THE MARKET WILL REALLY TAKE THOSE BITS OF INFORMATION AND THEN BASE THE FOUNDATION FOR WHAT THEY'RE GOING TO PLAN FOR ONCE THAT ACREAGE NUMBERS OUT YOU KNOW THAT JUST ANOTHER FINALIZED PIECE OF INFORMATION THEN THE  MARKET WILL START BACKING INTO WHAT YIELD ARE WE GOING TO HAVE AS YOU MENTIONS RIGHT NOW ALTHOUGH THERE'S BEEN SOME FLOODING UP IN THE NORTHERN CORN BELT IT'S A REALLY BIG CROP POTENTIAL GROWING IN THE FIELD RIGHT NOW NO WE GOT A LONG WAY TO GO TO FINISH THAT OUT WE NEED THE WEATHER TO COOPERATE BUT AT THIS STAGE OF THE GAME POTENTIAL FOR A BIG CROP COMING IT JUST HOW MANY ACRES DID WE HAVE PUT IN THE GROUND. WELL THERE'S NO QUESTION ABOUT THAT BUT THEN THE OTHER SIDE OF IT IS WHAT IS PRICE GOING TO SAY BECAUSE THE FUNDS ARE PRETTY LONG AT THIS POINT AND TIME. THAT'S EXACTLY RIGHT THE FUNDS REALLY HAVE BEEN DRIVING THIS THEY RAN THAT MARKET UP STARTING IN LATE JANUARY BUILT UP A BIG LONG POSITION THEIR STILL LONG ABOUT 150,000 CONTRACTS OF CORN SO THAT'S THE SCARY THING IN MY MIND OF WHAT THAT POTENTIAL COULD BE IF THE WEATHER STAYS GOOD AND THERE'S NO THREAT OR NO HOT WEATHER DEVELOPS DURING POLLINATION AND THOSE FUNDS HEY WERE DONE WITH OUR LONG POSITION IN CORN THAT'S A LOT OF SELLING TO HIT THE MARKET AND IF THEY DECIDE NOT ONLY ARE WE GOING TO GET OUT OF OUR LONG BUT WERE GOING TO GO SHORT AT THE SAME TIME WE HAVE A BIG CORN CROP COMING THAT COULD REALLY GET SCARY HOW FAR THAT COULD PUSH US TO THE DOWNSIDE IT SEEMS LIKE THESE MARKETS WITH ALL THAT MONEY FLOWING IN AND OUT OVERSHOOTS ON THE WAY UP AND OVERSHOOTS ON THE WAY DOWN THAT'S SOMETHING THAT REALLY CONCERNS ME LONGER TERM IF WE HAVE A BIG CORN CROP COMING WHAT DO THESE FUNDS DO WITH THAT LONG POSITION AND THEN DO THEY WANT TO GET SHORT KINDA SCARY IN MY MIND COULD PUSH US WELL UNDER FOUR BUCKS IF THAT HAPPENS BUT STILL A LONG WAY TO GO.  WELL THE FUNDS ARE REALLY FRIENDLY IF WE HAVE A SHORT A CROP THEY'LL KEEP THEM UP. YEA THEIR OUR FRIENDS WHEN THEIR PUSHING THEM UP BUT WE HAVE TO UNDERSTAND WHEN THEIR LONG THEIR GOING TO GET OUT AND THAT THAT CAN TURN THOSE MARKETS AGAINST US IN A HURRY. SO A PRODUCER NEEDS TO BE THINKING ABOUT WHAT TO DO IN ORDER TO PROTECT HIMSELF. ABSOLUTELY LOT OF TOOLS AVAILABLE TO PROTECT THAT AND THERE STILL PLENTY OF VOLATILITY THAT WERE PROBABLY GOING TO SEE BEFORE THIS IS SAID AND DONE. OKAY THANK YOU VERY MUCH CHIP NELLINGER BEEN OUR GUEST THIS MORNING HERE ON AGDAY BACK WITH MORE IN A MOMENT. )
WX:
WELCOME BACK TO AGDAY HERE WITH METEOROLOGIST MIKE HOFFMAN. MIKE WE'RE KIND OF IN A PATTERN WHERE IT'S JUST RAINING. AND A LOT OF PLACES GETTING LOTS OF RAIN PRETTY OFTEN… WHICH IS GOOD FOR SOME FOLKS BUT SOME FOLKS REALLY NEED IT TO DRY OUT. IT’S BEEN A LITTLE MUCH FOR PARTS OF THE LOWER GREAT LAKES BACK INTO THE NORTHCENTRAL PLAINS LIKE IOWA. SURE. SOME PLACES HAVE JUST HAD TOO MUCH. YOU'RE RIGHT YOU GET INTO THESE PATTERNS. IT'S KIND OF THE OPPOSITE OF THE DROUGHT WHERE YOU CAN'T GET A DROP OF RAIN FOR HTE LIFE OF YOU END UP JUST GETTING DROPS OF RAIN WITH NO FRONTS AROUND OR ANYTHING. SO THOSE ARE THE SITUATIONS WE ARE IN. ANOTHER SLOW MOVING STORM SYSTEM COMING OUT OF THE ROCKIES. THAT WILL PRODUCE SOME MORE RAIN ACROSS THE NORTHCENTRAL PLAINS STATES. THE STORM SYSTEM EXITING THE NORTHEAST IS FINALLY MOVING AWAY. THAT'S DROPPED SEVERAL INCHES OF RAIN IN ITS PATH BACK TO THE WEST AND SO THAT WILL BE GOOD RIDDANCE I SUPPOSE AS IT CONTINUES TO MOVE TOWARD THE NORTHEAST. YOU CAN SEE HIGH PRESSURE TRYING TO DRY THINGS OUT BUT THIS IS KIND OF ONE OF THE THOSE SITUATIONS LIKE WE WERE TALKING ABOUT. EVEN BEHIND THE FRONT IN THE DRIER AIR WE STILL GET A FEW POPUP SHOWERS AND THUNDERSTORMS HERE AND THERE. JUST NOT NEARLY AS MUCH AS YOU DO AS CLOSE TO THE STATIONARY FRONT. AND YOU CAN SEE SOME AFTERNOON VARIETY SHOWERS AND THUNDERSTORMS IN THE MUGGY AIR OF THE SOUTHEAST. IN FACT THIS HIGH APPEARS TO BE REALLY PUTTING IN SOME PRETTY GOOD MOISTURE INTO THE AREAS IN TEXAS GULFCOAST REGION LOUISIANA THE GULF COAST OF MISSISSIPPI. THOSE AREAS ARE GOING TO END UP WITH SEVERAL INCHES OF RAIN OVER A 3-4 DAY PERIOD HERE. NEXT SYSTEM FAIRLY WET MOVING ACROSS THE NOTHERN PORTIONS OF THE ROCKIES. THAT WILL EVEN PRODUCE A FEW SHOWERS INTO NORTHERN CALIFORNIA AND NOT A LOT UNFORTUNATELY. AS WE HEAD INTO THE DAY TOMORROW YOU CAN SEE WE'LL START WITH SOME PATCHES OF SHOWERS AND THUNDERSTORMS UP AND DOWN THE PLAINS STATES. THAT WILL INCREASE AS THE AFTERNOON COMES ON ESPECIALLY FROM MINNESTOA WISCONSIN SOUTHWARD INTO LOUISANA MISSISSIPPI AND THEN EASTWARD ALONG THAT WARM FRONT. AND AFTERNOON VARIETY THUNDERSTROMS BACK ALONG THE COLD FRONT IN KANSAS AND THEN FARTHER NORTH AROUND THE AREA OF LOW PRESSURE IN NEBRASKA AND THEN ALSO THE DAKOTAS SO YOU CAN SEE SOME AFTERNOON SHOWERS AND THUNDERSTORMS THERE. BOY LOOKS AT THIS. AGAIN WE TALK ABOUT THE GULF COAST REGION OVER THE PAST 24 HOURS. WE'VE SEEN SOME AMOUNTS IN THE 3" CATEGORY. ADDING ON THE NEXT 36 HOURS JUST LOOK AT ALL THE AREAS THAT END UP WITH A LOT OF RAIN. NOW THE GULF COAST IS THE BIG KAHUNA THERE I SUPPOSE ON THE WEATHER MAP BUT YOU CAN SEE IN PARTS OF THE NORTHEAST POCKETS ACROSS THE CENTRAL AND NORTHERN PLAINS STATES AND EVEN SOME SPOTS GETTING AN INCH OR SO. AND PARTS OF MONTANA, WHICH IS KIND OF UNUSUAL WITH THE AFTERNOON THUNDERSTORMS. THERE'S THE COOLER AIR, GREAT LAKES AND THE NORTHEAST SOUTH OF THERE. ITS FAIRLY MUGGY AND A LOT OF THESE NUMBERS ARE BELOW NORMAL EVEN THOUGH THEY'RE INTO THE MID EIGHTIES. A FEW 90'S SHOWING UP OBVIOUSLY IN THE SOUTHWESTERN PLAINS. TRIPPLE DIGITS IN PARTS OF THE SOUTHWEST LOW TONIGHT...MUGGY THROUGH THE SOUTHLAND BUT MORE PLEASANT. GREAT LAKES INTO THE NORTHEAST SAME THING IN THE ROCKIES AND NORTHWEST AND ALSO THE HEAT CONTINUE TOMORROW. BUT AGAIN A LOT OF THESE NUMBERS IF YOU LOOK AT THEM ARE BELOW NORMAL FOR THIS TIME OF YEAR. EVEN THOUGH IT’S PRETTY WARM AND PRETTY SOUPY OUT THERE IN MANY AREAS. LET’S CHECK THE OVERALL SITUATION YOU CAN SEE NOT A BIG TROUGH BY ANY STRETCH. JUST KIND OF LITTLE SYSTEM KIND OF MOIVNG EAST…THAT'S A BIGGER TROUGH COMING OUT OF THE ROCKIES AS WE HEAD INTO THE WEEKEND AND THAT STARTS TO DIG INTO THE GREAT LAKES AS WE HEAD INTO THE MIDDLE OF NEXT WEEK. AND THAT WILL BRING ANOTHER SHOT OF COOL AIR BUT AHEAD OF THAT THERES GOING TO BE A 3-4 DAY PERIOD OF HEAT AND HUMIDITY EVEN UP INTO THE GREAT LAKES. THAT'S A LOOK ACROSS THE COUNTRY NOW LETS TAKE A LOOK AT SOME LOCAL FORECASTS. FIRST OF ALL FOR READING CALIFORNIA PARTLY SUNNY MAYBE A SHOWER OR THUNDERSTORM IN SPOTS…HIGH TEMPERATURE OF 85 DEGREES. CROOKSTON MINNESOTA A MIX OF SUN AND CLOUDS A THUNDERSTORM IS POSSIBLE…HIGH A LITTLE BIT COOLER 76…AND HOT AND HUMID IN TALLAHASSEE FLORIDA…AN AFTERNOON THUNDERSTORM HIGH OF 94.
LEGACY TEASE:
 FOR MORE THAN EIGHT GENERATIONS, MEMBERS OF THE JOYCE FAMILY HAVE PLIED THE WATERS OFF THE COAST OF MAINE TO HARVEST LOBSTER AND MEET THE DEMANDS OF AN INCREASINGLY SELECTIVE CONSUMER.
LOBSTERMAN JASON JOYCE AND HIS FATHER CARLTON, SHARE WITH HOST KEVIN SPAFFORD ABOUT CHARTING A COURSE TO ENSURE OPPORTUNITIES FOR FUTURE GENERATIONS.
TEASE:
CLINTON STILL TO COME… DIGGING DEEPER TO PAY FOR YOUR FOURTH OF JULY BARBEQUE.
ITC TEACHING THE TEACHERS:
CLINTON…WHILE YOUR CHILDREN MAY BE HOME ON SUMMER VACATION, SOME TEACHERS ARE BACK AT CLASS. THEY'RE LEARNING HOW TO BRING AGRICULTURE INTO THEIR CLASSROOMS. IN THIS REPORT FROM THE TEXAS FARM BUREAU, JESSICA DOMEL TELLS US HOW THE SUMMER AG INSTITUTE IS "TEACHING THE TEACHERS."
ITC TAG:
CLINTON…THANKS JESSICA. IT'S GRILLING SEASON AND BEEF PRICES COULD "SCORCH" YOUR WALLET THIS FOURTH OF JULY. FOOD AND YOUR FAMILY IS NEXT.
FARMERS FEEDING THE WORLD BILLBOARD:
FOOD AND YOUR FAMILY - BROUGHT TO YOU BY FARMERS FEEDING THE WORLD. AGRICULTURE HAS THE ABILITY TO FEED ONE BILLION HUNGRY PEOPLE. PLEASE DREAM HUGE WITH US.
BBQ INDEX:
IN FOOD AND YOUR FAMILY - IT'S GOING TO COST YOU MORE TO HOST A BARBEQUE THIS FOURTH OF JULY. AND NO SURPRISE HERE, BUT THE REASON IS HIGHER BEEF COSTS. RABOBANK - WHICH OFTEN REPORTS ON AG MARKETS - CREATED ITS FIRST EVER BARBEQUE INDEX. IT EXAMINES HOW MUCH IT'LL COST FOR A TEN PERSON COOK-OUT. IN 2007, IT WOULD HAVE COST JUST OVER 55-DOLLARS. RABOBANK SAYS THIS YEAR IT'LL COST ALMOST 67-DOLLARS IT'S A PRETTY BASIC MENU - GRILLED CHICKEN OR A CHEESEBURGER ON A BUN TOPPED WITH LETTUCE, TOMATO AND PICKLES, PLUS CHIPS, ICE CREAM, AND SODA AND BEER TO WASH IT DOWN. RABOBANK SAYS AMERICAN CONSUMERS DON'T TYPICALLY FEEL COMMODITY PRICE FLUCTUATIONS. BUT THEY 'WILL' FEEL THE EXPLODING BEEF MARKET. RETAIL PRICES ARE UP 71-PERCENT IN FIVE YEARS. RABOBANK SAYS SOME CONSUMERS WILL SWITCH TO CHICKEN SANDWICHES THIS YEAR SINCE POULTRY HAS NOT HAD THE SAME BIG JUMP IN PRICE.
WHOLE FOODS:
CLINTON…IN FOOD AND YOUR FAMILY - IT'S GOING TO COST YOU MORE TO HOST A BARBEQUE THIS FOURTH OF JULY. AND NO SURPRISE HERE, BUT THE REASON IS HIGHER BEEF COSTS. RABOBANK - WHICH OFTEN REPORTS ON AG MARKETS - CREATED ITS FIRST EVER BARBEQUE INDEX. IT EXAMINES HOW MUCH IT'LL COST FOR A TEN PERSON COOK-OUT. IN 2007, IT WOULD HAVE COST JUST OVER 55-DOLLARS.
RABOBANK SAYS THIS YEAR IT'LL COST ALMOST 67-DOLLARS IT'S A PRETTY BASIC MENU - GRILLED CHICKEN OR A CHEESEBURGER ON A BUN TOPPED WITH LETTUCE, TOMATO AND PICKLES, PLUS CHIPS, ICE CREAM, AND SODA AND BEER TO WASH IT DOWN. RABOBANK SAYS AMERICAN CONSUMERS DON'T TYPICALLY FEEL COMMODITY PRICE FLUCTUATIONS. BUT THEY 'WILL' FEEL THE EXPLODING BEEF MARKET. RETAIL PRICES ARE UP 71-PERCENT IN FIVE YEARS.RABOBANK SAYS SOME CONSUMERS WILL SWITCH TO CHICKEN SANDWICHES THIS YEAR SINCE POULTRY HAS NOT HAD THE SAME BIG JUMP IN PRICE.
CLOSE:
CLINTON…THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR MIKE HOFFMAN, AND AL PELL. I'M CLINTON GRIFFITHS. HAVE A GREAT DAY.
RFD PROMO:
CLINTON…THURSDAY ON AGDAY...LOWER GRAIN PRICES ARE ALREADY STARTING TO IMPACT THE NATION'S FARM ECONOMY, PLUS FEEDER CATTLE PRICES MARCH HIGHER...AND TEACHING THE TEACHERS THAT ARE TEACHING THE NEXT GENERATION. JOIN ME THURSDAY 8 EASTERN ON RFD.
STATION PROMO:
FOR MORE THAN EIGHT GENERATIONS, MEMBERS OF THE JOYCE FAMILY HAVE PLIED THE WATERS OFF THE COAST OF MAINE TO HARVEST LOBSTER AND MEET THE DEMANDS OF AN INCREASINGLY SELECTIVE CONSUMER. FRIDAY ON A SPECIAL EDITION OF AGDAY FIND OUT HOW THE FAMILY IS CHARTING A COURSE FOR THE NEXT GENERATION.
 
 

See Comments

RELATED TOPICS: Daily Recap

 
Log In or Sign Up to comment

COMMENTS

No comments have been posted



Name:

Comments:

Receive the latest news, information and commentary customized for you. Sign up to receive Beef Today's Cattle Drive today!. Interested in the latest prices for cattle in your area? See highlights of the latest for-sale cattle in the Cattle-Exchange eNewsletter.

 
 
The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by AmericanEagle.com|Site Map|Privacy Policy|Terms & Conditions