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AgDay Daily Recap -January 14, 2013

January 14, 2013
 
 

TODAY ON AGDAY
JANUARY 14, 2013

USDA REPORTS:

GOOD MORNING I'M CLINTON GRIFFITHS. USDA SEES A SLIGHT TICK-UP IN CORN PRODUCTION NUMBERS FROM THE DROUGHT-PLAGUED YEAR, QUARTERLY GRAIN STOCKS ARE STILL TIGHT BUT THE LOWEST HAY STOCKS IN DECADES.

HAY STOCKS:

AND IT'S NO SURPRISE HAY STOCKS ARE EXTREMELY SHORT AFTER A YEAR OF WIDESPREAD DROUGHT. ALL HAY STORED ON FARMS AS OF DECEMBER WERE DOWN 16 PERCENT TO 76 AND A HALF MILLION TONS. USDA SAYS THAT'S THE LOWEST LEVEL OF HAY SUPPLY SINCE 1957. DRYNESS AND HEAT STIFLED ALFALFA FIELDS AND PASTURE GROWTH. LIVESTOCK PRODUCERS WERE FORCED TO FEED THEIR HERDS EARLIER DUE TO SHORTAGE OF GOOD GRAZING LANDS.

EMERGENCY FARM LOANS:

TO HELP PRODUCERS THROUGH TOUGH TIMES, USDA DESIGNATED ALMOST 600 COUNTIES IN THE U.S. AS PRIMARY NATURAL DISASTER AREAS. THAT DESIGNATION MAKES THEM ELIGIBLE FOR LOW INTEREST EMERGENCY LOANS. BUT USING THAT MONEY CAN BE A TOUGH DECISION, ESPECIALLY FOR LIVESTOCK PRODUCERS. EXPERTS SAY MAKE SURE THAT MONEY HAS A RETURN ON INVESTMENT.

REPORTS:

AND NOW TO THE PRIMARY GRAINS...QUARTERLY GRAIN STOCKS FOR CORN WERE POSTED AT EIGHT BILLION BUSHELS. THAT'S ON THE LOW END OF MARKET EXPECTATIONS. THE 2012 CROP SUMMARY SHOWS A SLIGHTLY BIGGER CORN CROP FROM THE NOVEMBER ESTIMATES. PRODUCTION IS ESTIMATED AT 10-POINT-EIGHT BILLION BUSHELS. THE AVERAGE YIELD IS ESTIMATED AT 123-POINT-FOUR BUSHELS AN ACRE. THAT'S A 24 BUSHEL DECLINE FROM A YEAR AGO. SOYBEAN PRODUCTION IN 2012 TOTALED THREE BILLION BUSHELS, UP 1 PERCENT FROM THE NOVEMBER FORECAST BUT DOWN 3 PERCENT FROM 2011. THE AVERAGE YIELD IS ESTIMATED AT JUST UNDER 40 BUSHELS, A SLIGHT TICK UP FROM NOVEMBER. IT WAS GRAIN STOCKS THAT ARE LIKELY TO HAVE THE BIGGEST IMPACTS OVER THE NEXT FEW MONTHS. CORN STOCKS ARE AT 8 POINT 3 BILLION BUSHELS. THAT'S DOWN 17 PERCENT FROM A YEAR AGO. THERE WAS ALSO A BIG DROP IN THE AMOUNT OF CORN STORED ON FARM. IN SOYBEANS, STOCKS WERE JUST SHY OF TWO BILLION BUSHELS. ALSO DOWN 17 PERCENT. DEMAND AND USAGE OF U.S. SOYBEANS WERE UP--30 PERCENT FROM SEPTEMBER TO NOVEMBER SETTING A NEW RECORD HIGH. WHEAT STOCKS WERE ONE POINT 6 BILLION BUSHELS...DOWN JUST SLIGHT FROM A YEAR AGO. THESE REPORTS WERE THE FIRST TO BE RELEASED UNDER THE NEW TIME - ELEVEN O'CLOCK CENTRAL. AND EVEN THOUGH TRADING DAYS ARE NOW LONGER, THE DELAYED RELEASE MEANS LESS TIME FOR END-USERS TO ANALYZE THE DATA. WHAT COULD THAT MEAN IN THE DAYS AHEAD? WE TALKED WITH BILL BIEDERMANN FROM ALLENDALE INCORPORATED TO GET HIS PERSPECTIVE. NOW TO WINTER WHEAT - USDA ESTIMATES THE PLANTED AREA FOR HARVEST IN 2013 IS 41-POINT-EIGHT MILLION ACRES, UP 1 PERCENT FROM 2012. A DRY SEPTEMBER FORCED SOME GROWERS TO HOLD-OFF PLANTING. BUT BY THE END OF OCTOBER SEEDING WAS AHEAD OF THE FIVE YEAR AVERAGE. THE 2012 COTTON CROP ALSO HAD ITS CHALLENGES, BUT TURNED OUT TO BE BETTER THAN 2011.  THAT'S ACCORDING TO THE LATEST USDA REPORT. HE SAYS PORTIONS OF THE DELTA PRODUCED GOOD COTTON YIELDS, AS WELL. THE COTTON AREAS THAT STRUGGLED IN 2012 COMES AS NO SURPRISE WHEN YOU LOOK AT THE DROUGHT MAP. ALL OF THE SOUTHWEST, INCLUDING TEXAS, STRUGGLED WITH LITTLE RAIN AND EXTREME HEAT.

CROP WATCH:

IN CROPWATCH THIS MORNING OUR OWN MIKE HOFFMAN IS HERE WITH A LOOK AT MOISTURE CONDITIONS SOUTH AND WEST OF THE MASON DIXON LINE. GOOD MORNING MIKE.

TRACTOR SALES:

IN AGRIBUSINESS TODAY, STRONG FARM INCOMES HELPED EQUIPMENT MAKERS END THE YEAR STRONG.

ANALYSIS:

WHEN COMMODITY PRICES RISE, MARKET DISCUSSION CAN LEAD TOWARDS THE IMPACT ON DEMAND. FARMERS NEED TO BE ABLE TO RESPOND TO CHANGES IN THE DEMAND CYCLE.
FARM DIRECTOR AL PELL HAS MORE IN ANALYSIS.

VIRGINIA SWEET POTATOES:

IT'S AN UNFORTUNATE SIGN OF THE ECONOMY, BUT A GROWING NUMBER OF PEOPLE HAVE BEEN TURNING TO THEIR LOCAL FOOD BANKS IN THESE LEAN ECONOMIC TIMES. MANY FOOD BANKS RELY ON CORPORATE DONATIONS TO GET CANNED GOODS. BUT FRESH FOODS ARE A LITTLE MORE DIFFICULT TO COME BY. JUST BEFORE THE HOLIDAY SEASON, A VIRGINIA COMMUNITY FARM RUN BY MASTER GARDENERS HIT THE FIELDS FOR A FINAL HARVEST OF THE YEAR. SHERRI MCKINNEY HAS DETAILS IN THIS REPORT PROVIDED BY THE VIRGINIA FARM BUREAU.

FOOD WASTE:

IF YOU SIMPLY CAN'T RESIST THOSE BUY ONE, GET ONE FREE DEALS AT THE SUPERMAKET, YOU COULD BE ADDING A WASTEFUL HABIT OF MANY CONSUMERS.

DIET POP:

IF DIET SODA IS YOUR GO-TO MORNING, DRINK, YOU MAY WANT TO PUT IT DOWN AND GRAB A CUP, OR FOUR, OF COFFEE.

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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