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AgDay Daily Recap -Aug 4, 2014

August 4, 2014
 
 

 

TODAY ON AGDAY
AUGUST 4, 2014
 
OPEN HEADLINES:
COMING UP TODAY ON AGDAY - USDA ROLLS OUT ITS LATEST ON LAND VALUES...BUT CAN THE UPWARD TREND CONTINUE. IN ANALYSIS...IT'S ALL ABOUT THE WEATHER. SO AUGUST RAINS ARE GOING TO BE PARAMOUNT TO THE PRICE OF CORN AND BEANS FOR SOME TIME TO COME SOARING IN THE SKIES TO MARK A CENTURY SINCE WORLD WAR ONE. AGDAY BROUGHT TO YOU BY THE ALL NEW CHEVY SILVERADO - THE ALL NEW 2014 NORTH AMERICAN TRUCK OF THE YEAR.
USDA LAND VALUES:
CLINTON…GOOD MORNING I'M CLINTON GRIFFITHS. NEW GOVERNMENT DATA REFLECTS WHAT FARMERS ALREADY KNOW ABOUT LAND VALUES LOWER GRAIN PRICES TRANSLATES INTO FEWER SALE...AND THAT'S OUR TOP STORY ON AGDAY.
FARM PROD EXPENSE:
CLINTON…PART OF THAT EQUATION IS COST. USDA ALSO ROLLING ITS FARM EXPENDITURES REPORT LATE FRIDAY. IT SHOW'S US. FARM PRODUCTION EXPENDITURES TOTALING 367 (367.3) BILLION DOLLARS IN 2013...
THAT'S UP MORE THAN 7 BILLION DOLLARS (360.1) IN JUST A YEAR'S TIME...OR AN INCREASE OF 2 PERCENT.
THE FOUR LARGEST EXPENDITURES FOR FARMS-- INCLUDE FEED, FARM SERVICES, LIVESTOCK, POULTRY AND RELATED EXPENSES AND OF COURSE LABOR. FOR JUST CROP GROWERS, THEIR BIGGEST COST INCREASE COMES FROM CASH RENTS...UP NEARLY 13 PERCENT FROM 2012 TO 2013.
TEASE:
CLINTON…NEXT FIND OUT WHAT STEPS ARE BEING TAKEN TO MAKE SURE THERE'S NO PROPANE SUPPLY PROBLEMS THIS WINTER. IN ANALYSIS IT'S ALL ABOUT THE WEATHER. PLUS, MACHINERY PETE CHECKS IN RIGHT AFTER CINDI CLAWSON'S WEATHER
PROPANE BILL:
CLINTON.. NEW LEGISLATION PROPOSED IN THE SENATE AIMS TO ADDRESS THE CAUSES OF LAST YEAR'S PROPANE SHORTAGES. SENATORS FRANKEN, PORTMAN AND BALDWIN INTRODUCING THE POPANE SUPPLY AND SECURITY ACT. THE BILL IS TRYING TO IMPROVE SUPPLY AND PRICE INFORMATION, CORDINATING RESPONSES TO SHORTAGES, STUDY THE NEED FOR REGIONAL RESERVES AND IT WOULD HELP FARMERS PURCHASE PROPANE STORAGE TANKS.
TPP:
CLINTON…ACROSS THE HILL, 140 MEMBERS OF THE US HOUSE OF REPRESENTATIVES URGED THE WHITE HOUSE THIS WEEK TO PURSUE A TRANS PACIFIC PARTNERSHIP WITHOUT JAPAN AND CANADA.
A LETTER FROM THE HOUSE MEMBERS TO PRESIDENT OBAMA SAYS SUPPORT FOR THE TPP WOULD BE JEOPARDIZED IF NEGOTIATORS DO NOT HOLD JAPAN AND CANADA TO THE SAME STANDARDS AS OTHER PARTNERS.
THE HOUSE MEMBERS WANT JAPAN AND CANADA TO PROVIDE FULL MARKET ACCESS IF THEY ARE TO BE PART OF A TPP DEAL. THE NATIONAL PORK PRODUCERS COUNCIL SAYS IT WELCOMES THE CONGRESSIONAL SHOW OF SUPPORT FOR U.S. AGRICULTURE.
ANALYSIS INTRO:
CLINTON…WHILE JUNE WAS ESPECIALLY WET THIS YEAR FOR MUCH OF THE CORNBELT, JULY DRIED-UP FOR MANY GROWERS. IN THIS MORNING'S ANALYSIS, FARM DIRECTOR AL PELL SAYS FROM HERE ON OUT, IT'S ALL ABOUT THE WEATHER.
ANALYSIS:
WE'RE TALKING WITH MATT BENNETT HERE AT THE AGRIBUSINESS DESK HE'S WITH TOTAL GRAIN MARKETING MATT THE NUMBER ONE THING THAT YOU THINK THAT WE REALLY SHOULD BE CONCERNED AND WATCH BETWEEN NOW AND THE FIRST OF THE YEAR IN AGRICULTURE IN THE UNITED STATES. THE NUMBER ONE THING WITHOUT A DOUBT IN MY OPINION IS WHAT IS THE WEATHER GOING TO BE LIKE IN THE MONTH OF AUGUST IT'S GOING TO HAVE HUGE IMPLICATIONS FOR INSTANCE I THINK IF YOU IF YOU GIVE THE SOYBEANS ALL THE RAIN THAT THEY NEED AND WE END UP WITH A 46 47 NATIONAL YIELD LIKE SOME GUYS ARE TALKING ON TOP OF AN 84.8 PLANTED ACRES YOU'RE LOOKING AT AN ENORMOUS CROP AND SO IF YOU HAVE THAT OBVIOUSLY BEANS ARE GOING TO BE SUB 10 EASILY SAY YOU TAKE BEANS DOWN TO 9 DOLLARS 9.50 IN THE DEMAND SITUATION ON CORN IS EXCELLENT NEXT WINTER WELL WERE GOING TO BE TALKING ABOUT NEEDING ACRES OF CORN NEXT WINTER BUT HOW FAR CAN YOU RALLY CORN WHENEVER BEANS ARE 9 DOLLARS SO AUGUST RAINS ARE GOING TO BE PARAMOUNT TO THE PRICE OF CORN AND BEANS FOR SOME TIME TO COME. SO WHAT REALLY WILL HAPPEN THEN IS THAT THE PRODUCER THIS YEAR WILL MAKE DECISION ON WHAT HE'S GOING TO DO NEXT YEAR BASED ON THIS YEARS WEATHER IS THAT RIGHT. I THINK THAT THAT'S A VERY REASONABLE WAY TO LOOK AT THIS I THINK IF A GUY KNOWS THAT WERE GOING TO HAVE A VERY GOOD NATIONAL YIELD ON BEANS THEN TO ME I'M GOING TO BE A LITTLE BIT MORE OF IN A QUANDARY OF WHAT I WANT TO PLANT FOR NEXT YEAR BECAUSE OBVIOUSLY INPUT PRICES ARE STILL GOING TO BE FAIRLY HIGH AND IT'S GOING TO BE TOUGH FOR GUY THAT WERE HEAVY BEANS THIS YEAR TO GO BACK ON BEANS YOU KNOW THAT'S NOT NEAR AS PREVALENT AS A CORN BACK ON CORN ROTATION AND SO IT MUDDIES THE WATER JUST A LITTLE BIT BUT YET IF WE IF WE DRY OFF JUST A LITTLE BIT AND WE CAN KEEP BEANS ABOVE 10 DOLLARS IN CASH PRICES ABOVE 10 DOLLARS FOR BEANS I THINK IT LEND A LOT OF HOPE ON DOWN THE LINE THAT WE MIGHT BE ABLE TO GET RALLIES AND OR THE YOU KNOW CORN AND OR THE BEAN MARKET THAT WOULD BE VERY YOU KNOW ATTRACTIVE MAYBE NOT COMPARED NOT TO RECENT PATHS BUT COMPARED TO WHERE WERE SITTING NOW. OKAY I'M GOING TO ASK YOU A QUICK ONE CAN WE GET TO MUCH RAIN. WE CAN GET TO MUCH RAIN WE SAW THAT EARLIER IN THE YEAR BUT AT THIS STAGE. AND WHAT IF WE DON'T GET ANY MORE... IF WE DON'T GET ANY MORE I THINK THAT WE WILL SEE THE BEAN RALLY A LITTLE BIT PROBABLY NOT AS MUCH AS WE WANT TO SEE. OKAY THANK YOU VERY MUCH BEEN TALKING TO MATT BENNETT HERE AT AGDAY BACK WITH MORE IN A MOMENT.
MACHINERY PETE:
THANKS, GREG. YOU CAN STAY UP TO DATE WITH THE LATEST DEALS BY FOLLOWING PETE ON TWITTER OR LIKING HIM ON FACEBOOK. IN ADDITION TO HIS WEEKLY SEGMENT ON AGDAY, HE'S ALSO FEATURED EVERY WEEK ON AGRITALK AND AGWEB DOT COM.
STATION PROMO:
COMING UP TUESDAY ON AGDAY HOW STRESSED ARE THE NATION'S CROPS AFTER A DRY JULY? WE'LL HAVE THE LATEST CROP PROGRESS DETAILS. PLUS PANTHERS ON THE PROWL IN FLORIDA...BUT JUST HOW BAD IS THE PROBLEM FOR RANCHERS? AGDAY INVESTIGATES. I'M CLINTON GRIFFITHS. JOIN US WEEKDAYS FOR AGDAY.
 
 
 

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