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AgDay Daily Recap -October 1, 2013

October 1, 2013
 
 

TODAY ON AGDAY

OCTOBER 1, 2013

 

WASDE REPORT:

GOOD MORNING I'M CLINTON GRIFFITHS. CORN AND SOYBEAN FUTURES WERE LOWER MONDAY AFTER THE GOVERNMENT SAID GRAIN INVENTORIES WERE HIGHER.

MISSOURI PICKING:

NATIONAL REPORTER TYNE MORGAN IS IN MISSOURI. TYNE, HOW'S HARVEST PROGRESSING IN THE SHOW-ME STATE? SOME YIELD MONITORS ARE REVEALING PLEASANT SURPRISES. WHILE OTHERS ARE COMING-IN AS EXPECTED. MIKE HOFFMAN IS TRACKING HARVEST IN THIS MORNING'S CROPWATCH. MIKE.

FARM BILL UPDATE:

WHILE THE FOCUS HAS BEEN ON FUNDING THE GOVERNMENT, A NEW FARM BILL HAS TAKEN A BACK SEAT. THE CURRENT FARM BILL EXTENSION EXPIRED OVER NIGHT. THAT WILL IMPACTING SOME CONSERVATION, TRADE AND OTHER PROGRAMS. BUT NOT MAJOR COMMODITY PROGRAMS--THOSE RUN ON A CALENDAR YEAR. MEANWHILE OVER THE WEEKEND, THE HOUSE APPROVED A RULE THAT PUTS THE FARM AND NUTRITION BILLS BACK TOGETHER. THE SENATE IS EXPECTED TO REJECT THE BILL AND THEN ASK FOR CONFERENCE.

PROTECTION ACT EXPIRES:

THE SENATE'S LATEST VERSION OF THE CONTINUING RESOLUTION ALSO ENDS THE FARMERS ASSURANCE PROVISION. THAT LEGISLATIONS, DUBBED THE MONSANTO PROTECTION ACT BY ACTIVISTS, HELPED PROTECT GMO CROPS ALREADY APPROVED AND PLANTED FROM BEING DESTROYED DURING LITIGATION. THOSE AGAINST THE PROVISION SAY IT LETS AG GIANTS AVOID JUDICIAL OVERSIGHT.

TRANS PACIFIC PARTNERSHIP:

U.S. TRADE REPRESENTATIVE MICHAEL FROMAN SAYS THERE'S A LOT OF MOMENTUM IN THE TRANS-PACIFIC PARTNERSHIP NEGOTIATIONS. WORLD LEADERS ARE MEETING AGAIN THIS WEEK IN BALI. FROMAN SAYS THE GROUP IS WORKING TOWARD CLOSING OUT THE REMAINING ISSUES - INCLUDING AGRICULTURE. HE SAYS THE GOAL IS TO COMPLETE THE AGREEMENT BY THE END OF THE YEAR.

FOREIGN LAND HOLDERS:

FOREIGN INVESTORS HOLD 25 POINT 7 MILLION ACRES OF U.S. AGRICULTURAL LAND.
THAT'S THE LATEST NUMBER FROM THE F-S-A. IT ACCOUNTS FOR ABOUT 2 PERCENT OF ALL PRIVATELY HELD U.S. AG LAND--ALTHOUGH ITS RISEN BY A MILLION AND HALF ACRES FROM 2010 TO 2011.

JENSEN BROS:

FARMERS AND BROTHERS ERIC AND RYAN JENSEN PLED NOT GUILTY IN A DENVER FEDERAL COURT THURSDAY. THEY'RE CHARGED SIX FEDERAL MISDEMEANORS FOLLOWING A DEADLY LISTERIA OUTBREAK TRACED TO CANTALOPE FROM THEIR FARM. 33 PEOPLE DIED AND 150 PEOPLE ENDED UP IN THE HOSPITAL BACK IN 2011. TRIAL IS SET FOR DECEMBER SECOND.

WORLD DAIRY:

MEANWHILE THE DAIRY INDUSTRY GATHERS THIS WEEK IN MADISON, WISCONSIN FOR THE ANNUAL WORLD DAIRY EXPO. OUR PARTNERS AT DAIRY TODAY WILL BE ON LOCATION WITH THE LATEST NEWS THAT DEVELOPS FROM THE EXPO. TYNE MORGAN WILL BE UP THERE AS WELL. WE'LL HAVE COVERAGE FROM HER LATER IN THE WEEK.

CATTLE GREENHOUSE GAS:

A NEW REPORT FROM THE U-N'S FOOD AND AGRICULTURE ORGANIZATION SAYS THE LIVESTOCK SECTOR IS MAKING STRIDES IN THE FIGHT AGAINST GREENHOUSE GAS EMISSIONS. IT SAYS THAT INDUSTRY ALONE COULD CUT IT'S OWN EMISSIONS BY AS MUCH AS 30 PERCENT. NEW BEST PRACTICES AND AVAILABLE TECHNOLOGIES ARE THE REASON.
THINGS LIKE MANURE DIGESTERS, AND NEW FEED SUPPLEMENTS HAVE SHOWN EFFECTIVE IN LOWERING EMISSIONS.

ADM UPDATE:

IN AGRIBUSINESS TODAY - LAST WEEK ADM ANNOUNCED IT'S LOOKING FOR A NEW WORLD HEADQUARTERS--OUTSIDE ITS CURRENT BASE OF DECATUR ILLINOIS.

ANALYSIS:

DECEMBER WHEAT FUTURES HAVE CLIMBED NEARLY FORTY CENTS IN THE LAST COUPLE OF WEEKS NOW HOVERING NEAR THE 6-80 MARK. WITH HARVEST COMPLETE AND A NEW CROP GOING IN, ATTENTIONS ARE TURNING TO MARKETING. IN ANALYSIS THIS MORNING, FARM DIRECTOR AL PELL DISCUSSES THE WORLD WHEAT MARKET AND WHAT'S IMPACTING PRICES.

VINTAGE CAR AUCTION:

BIDDING WAS HIGH, BUT SO WAS THE ATTENDANCE. THOUSANDS OF PEOPLE FLOCKED TO PIERCE, NEBRASKA THIS WEEKEND FOR A UNIQUE AUCTION. HUNDREDS OF VINTAGE CHEVYS - MANY BARELY USED - WENT TO THE HIGHEST BIDDER. AT THE END OF THE DAY, NEARLY THREE MILLION DOLLARS WORTH OF CLASSICS SOLD. CARLA BRADLEY HAS OUR STORY.

FOOD PANTRY:

BEYOND FEDERAL FOOD AIDE, COMMUNITIES AND CHURCHES ACROSS THE NATION OFFER SUPPORT FOR THE HUNGRY THROUGH FOOD PANTRIES AND SOUP KITCHENS.

COFFEE TREE RUST:

IF YOU ENJOY WAKING UP WITH A CUP OF COFFEE--MAY GET GET YOUR ATTENTION.
COFFEE FARMERS IN MEXICO AND CENTRAL AMERICA HAVE BEEN HIT WITH A MAJOR OUTBREA OF LEAF RUST. THE DEADLY FUNGUST KILLS LEAVES AND WEAKENS THE PLANT...IN TURN LOWERING YIELDS. ADD TO IT, COFFEE PRICES HAVE DROPPED IN HALF SINCE HITTING A HIGH IN 2011.

 

 

 

 

 

 
 
 
  
  
      
                                
                                                        
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                                
 
                                 

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