AgDay Daily Recap - August 18, 2017

August 18, 2017 02:57 AM
 
AgDay

TODAY ON AGDAY
AUGUST 18, 2017


HEADLINES
THE RURAL ECONOMY CONTINUES TO STRUGGLE WE HAVE NEW DATA. PLUS, TEXAS MAY BE ON TRACK FOR IT'S BIGGEST COTTON CROP IN YEARS? IN AGRIBUISNESS ...MAKING BIN SPACE. KEN FERRIE IS HELPING MANAGE MID-SEASON NITROGEN. AND CARRATS IN CARROTS...A STORY YOU WON'T BELIEVE ON IN THE COUNTRY.  AGDAY - PRESENTED BY CHEVY SILVERADO. HIGH-STRENGTH STEEL FOR HIGH-STRENGTH DEPENDABILITY.

RURAL MAINSTREET INDEX
GOOD MORNING I'M CLINTON GRIFFITHS. THE RURAL MAINSTREET INDEX LEAVING LITTLE ENCOURAGE FOR THE FARM  ECONOMY. THE LATEST SURVEY SLUMPING TO IT'S LOWEST LEVEL IN 9 YEARS. IT MEASURES THE AG ECONOMY THROUGH THE EYES OF RURAL BANKERS IN 10  MIDWESTERN STATES. THE INDEX FALLING BELOW THE 50 MARK FOR JULY, A LEVEL IT HASN'T SEEN  SINCE NOVEMBER 2008.  RESEARCHERS SAY THE MAJOR DIP IS IS RELATED TO DROUGHT CONDITIONS IN  POCKETS OF THE CORN BELT AND WEAK GRAIN PRICES. THAT CONTINUES TO PUT STRESS ON CASH FLOWS AND LOANS. THE REPORT SAYS ON AVERAGE BANKERS EXPECT 15 PERCENT OF GRAIN  FARMERS WITH NEGATIVE CASH FLOWS THIS YEAR. LOAN VOLUMES ARE ALSO EXPECTED TO RISE-- THAT PART OF THE SURVEY  HITTING ITS SECOND HIGHEST MARK IN SURVEY HISTORY.  I THINK LIQUIDITY IS GETTING DRAINED DOWN. I'M I'M I'M VERY PLEASED TO SEE ALL LENDERS MOST ALL LENDERS ARE ARE TAKING A CAUTIOUS APPROACH AND THEY'RE NOT OVERREACTING. YOU KNOW GOING  THROUGH THE 80S ONE OF THE THING THAT HAPPENED ALL ACROSS MINNESOTA AND A LOT OF THIS  COUNTRY WAS BANKERS OVERREACTED AND THEY GOT EVERYBODY SO SCARED AND THEY DROVE ASSET  VALUES DOWN TO THE POINT WHERE I KNOW IN THE OLD ST. PAUL DISTRICT THEY HAD TO GO TO LAND  VALUES GUARANTEED WHEN THEY HAD EIGHT HUNDRED DOLLAR LAND TO ASSURE PEOPLE THAT IT WASN'T  GOING TO GO LOWER. SO I THINK A STEADY HAND ON BEHALF OF LENDERS IS REALLY IMPORTANT. AND THE  PRODUCERS WHEN IT TURNS OUT IF WHEN IT TURNS PRODUCERS WILL FIND A WAY AND THEY'LL THEY'LL  MANAGE YOUR RESOURCES AND THEN BE PRUDENT BUT LONG AS THE LENDERS ARE CONSISTENT THAT'S A  BIG DEAL." THE INDEX ALSO ASKS BANKERS TO ESTIMATE LOAN DEFAULTS OVER THE NEXT  12 MONTHS--THEY ANTICIPATE DEFAULTS AT 5 PERCENT WHICH IS DOWN FROM  LAST YEAR AT THIS TIME.

DROUGHT MONITOR
THE NEW DROUGHT MONITOR IS A MIXTURE OF VAST DECLINES AND VAST  IMPROVEMENTS. LET'S START WITH IMPROVEMENTS - AND THAT'S IN OKLAHOMA. LAST WEEK ABOUT 60-PERCENT OF THE STATE WAS DROUGHT FREE. BUT THIS  WEEK IT JUMPED TO NEARLY 90-PERCENT DROUGHT-FREE AFTER SOME NICE  RAINS. JUST 14-PERCENT OF THE STATE HAS ABNORMAL DRYNESS. MONTANA REMAINS THE TRUE "HOT SPOT" ACCORDING TO USDA  METEOROLOGIST BRAD RIPPEY.  HE NOTICED DROUGHT RAPIDLY WORSENING AND EXPANDING WESTWARD EVEN  AS THE DAKOTAS AND NEBRASKA CONTINUE TO IMPROVE. JUST TWO PERCENT IN THE SOUTHWEST CORNER HAS MOISTURE. BUT THE  NORTHEAST CORNER IS SEVERLY IMPACTED BY VARIOUS LEVELS OF DROUGHT.IN IOWA EXTREME DROUGHT HAS NOW ENTERED THE PICTURE. D-3 COVERS  ABOUT THREE PERCENT OF THE STATE. AND 70-PERCENT IS COVERED WITH  SOME LEVEL OF ABNORMAL DRYNESS OR DROUGHT. IN NORTH DAKOTA, THE CORN GROWERS ASSOCIATION IS OFFERING TO PITCH IN  TO HELP LIVESTOCK GROWERS IN THE STATE. THE GROUP IS ASKING FARMERS TO LIST THEIR ACRES OF CORN STOVER FOR GRAZING AFTER HARVEST. LEADERS SAYING THAT WHEN A CROP FAILS AS A FARMER, YOU MOVE ON TO  NEXT YEAR.  ADDING THAT FELLOW RANCHERS WITH NO FEEMAY HAVE TO SELL THEIR  HERDS.

COTTON HARVEST
THIS YEAR ITS NOT DROUGHT BUT TIMELY RAINS HELPING GROW COTTON YIELDS  IN TEXAS. THE TEXAS FARM BUREAU AGREEING WITH USDA ESTIMATES SAYING THIS COULD  BE THE LARGEST COTTON CROP IN MORE THAN A DECADE. I WAS IN SOUTH TEXAS LAST WEEK AND EVEN THOUGH HARVEST IS ONLY IN THE  SINGLE DIGITS, THE RESULTS ARE PROMISING. THE SIGNS OF COTTON HARVEST ALREADY DOT SOUTH TEXAS FIELDS. CHARLES RING, SINTON TX COTTON GROWER "COTTON IS LOOKING GOOD AND THE QUALITY IS GOOD BECAUSE WE HAVEN'T HAD RAIN SINCE (THE BOLLS)  OPENED. SO WE'RE IN GOOD SHAPE." FOURTH GENERATION CHARLES RING AND HIS BROTHER FARM NEAR SINTON IN  THE RIO GRAND VALLEY.  HIS ACRES ARE PART OF THE NEARLY 6 AND HALF MILLION PLANTED IN THE  STATE-- WHICH IS A MILLION MORE THAN LAST YEAR. TIMELY RAINS ARE HELPING ROLL UP BIG YIELDS. "WE'VE SEEN SOME TWO AND A HALF TO THREE QUARTERS BALE DRYLAND COTTON THIS YEAR AND WE  HAVEN'T EVEN GOTTEN TO THE IRRIGATED."  BOBBY RIEDER SINTON TX I THINK THIS IS GOING TO BE ONE OF OUR BETTER YEARS. "OF COURSE EVERY YEAR I TELL EVERYBODY THAT  WE'RE GOING HAVE THE BEST YEAR EVER. AND I THINK THIS YEAR IS GOING TO CONFIRM THAT" NEIGHBOR BOBBY RIEDER SAYS GOOD RAINS ARE PAYING OFF. "FOR THE PAST 10 OR 12 YEARS WE'VE BEEN DOING THE COUNTY TEST PLOT FOR COTTON AND THE YIELDS  THIS YEAR ON THAT WERE 2.25 TO 2.5 BALE COTTON." GOOD NEWS GIVEN TODAY SOFTER PRICES.  "UNFORTUNATELY, COTTON IS AN EXPENSIVE CROP TO RAISE AND YOU NEED TO MAKE BALE TO BALE AND  A HALF JUST TO BREAK EVEN ON YOUR EXPENSES." BOBBY NEDBALEK SAN PATRICIO CO. TX FARMER:"COTTON FOR AN EXAMPLE THE SEED COST PER ACRE IS OVER $80 AND THAT'S JUST FOR THE SEED. WE  CAN'T HAVE AN AVERAGE CROP AND MAKE THAT WORK." THANKFULLY YIELDS APPEAR TO BE STACKED IN THEIR FAVOR. "YOU HAVE TO OUT YIELD THE MARKET AND THAT'S THAT'S NOT A HEALTHY THING TO SEE BECAUSE "WE  SHOULD WE SHOULD BE GETTING AHEAD THIS YEAR AND AS IT IS WE'RE JUST GOING TO BE GETTING  ALONG." "AND COTTON IS FOLLOWING THROUGH IF WE CAN GET IT UP BEFORE ANYTHING HAPPENS."

CROP COMMENTS
LETS CHECK ON FIELD CONDITIONS WITH MIKE HOFFMAN. HE HAS A LOOK AT THIS MORNING'S CROP COMMENTS. MIKE.  GOOD MORNING, CLINTON.  OUR FIRST CROP COMMENT COMES FROM ERIK PEDERSEN OF NEOLA, IOWA.  ERIK SAYS THE CROP IS VARIABLE BECAUSE OF HEAT STRESS THIS GROWING  SEASON. HIS AREA RECEIVED HARDLY ANY RAIN IN ULY AND HAD TEMPERATURES  REACHING IN THE 90S TO EVEN 100S SOME DAYS. HE THINKS THE CORN YIELD  MAY BE BELOW AVERAGE AT THIS POINT IN TIME BUT BEANS MAY HAVE SOME  POTENTIAL.  OVER IN BURT COUNTY, NEBRASKA, MATT NELSON SAYS DESPITE DRY  CONDITIONS DURING THE GROWING SEASON, EARLY SEASON MOISTURE HELPED  THE CROP. HE RECEIVED 4 INCHES OF RAIN THIS WEEK AND NO HAIL. HE HOPES THAT WILL  MAKE THE BEANS GROW.  HE THINKS THE CROP MAY TURN OUT BETTER THAN HE ANTICIPATED THE  BEGINNING OF THE YEAR.  AND NOW HERE'S A LOOK AT SOME HOMETOWN TEMPS. THE LOCAL WEATHER CAN HAVE A BIG IMPACT NOT ONLY ON YOUR DAY, BUT ALSO ON YOUR CROPS.  START YOUR DAY OFF RIGHT WITH YOUR LOCAL FORECAST DELIVERED RIGHT TO YOUR MOBILE PHONE, JUST TEXT  WEATHER TO 31313 TO GET STARTED!

TEASE
WE'VE BEEN TALKING ABOUT PRICING GRAIN SINCE LAST HARVEST, BUT BIN  SPACES IS ABOUT TO BECOME A PRIORITY, WE'LL TALK ABOUT SELLING OLD CROP CORN NEXT IN AGRIBUSINESS. AND LATER, DIGGING FOR TREASURE.  YOU'LL NEVER BELIEVE WHAT THIS WOMAN PULL UP WITH THE CARROTS TODAY  ON IN THE COUNTRY.

FLOOR OF THE CME
IN AGRIBUSINESS MORE RED ON THE BOARDS IN CHICAGO. LETS GET DETAILS FROM THE CME. A MIXED BAG OF TREATS ACROSS THE BOARD YOU HAVE CORN AND WHEAT BOTH TRADING LOWER  SOYBEANS COMING OFF THE LOWS IN THIS AFTERNOON SESSION. BUT LET'S START LOOKING AT THAT NEW  CROP CORN CONTRACT THAT'S GOING TO BE DECEMBER OF THE MONTH OF INTEREST FOR US. WE HAVE A  BIG CROP TO HER GOING OUT NEXT WEEK WHICH COULD GIVE US A BETTER IDEA OF WHAT THESE YIELDS  ACTUALLY HOLD. IF YOU RECALL USDA RECENTLY PRINTED ABOUT A 169 AND A HALF. A LOT OF PEOPLE  TRYING TO CALL THE BLUFF SAYING THAT WE'RE GOING TO COME IN LOWER THAT THAN THAT. THINK THAT IS  SUPPORTED THE MARKET. BUT THE BLUFF IS BEING CALLED BY THE FUNDS AND WE'RE SEEING SOME  SELLING PRESSURE HERE THROUGHOUT THE WEEK. WE'RE KIND OF AT A PIVOTAL SPOT 3:55 THREE FIFTY  EIGHT AND A HALF. IT'S GOING TO BE THE BIG BIG LEVEL TO HOLD ON A CLOSING BASIS TO ROUND OUT THE  WEEK. WE HAVEN'T QUITE GOT DOWN THERE YET BUT I WOULDN'T BE SURPRISED IF WE TEST THAT. THAT IS  THE LAST AUGUST LOWS IF WE'RE ABLE TO HOLD PRICE ACTION ABOVE THIS. I THINK WE COULD GET SOME  MORE MOMENTUM IF WE GET SOME BULLISH REPORTS FROM NEXT WEEK'S CROP TOUR. LET'S START  LOOKING AT THE LIVE CATTLE CONTRACT OCTOBER THE MONTH OF INTEREST. WE HAD A PRETTY DECENT  SESSION YESTERDAY BUT FAILED TO GET ANY MORE MOMENTUM HERE IN THE EARLY MORNING TRADE AND  I THINK THAT INVITED SELLERS BACK IN. WE'RE REALLY LOOKING TO SEE IF WE COULD RETEST THAT ONE 11  LEVEL FOR A SPOT TO SELL BUT COULDN'T EVEN SNIFF IT AND NOW WE'RE BREAKING DOWN AGAIN. AND THIS  FAILURE TO BREAK OUT WITH ADDITIONAL MOMENTUM I THINK COULD POTENTIALLY LEAD TO MORE PRESSURE  BELOW 105. THAT'S WE'RE LOOKING AT. THAT'S WHAT YOU SHOULD BE LOOKING AT TOO. THIS HAS BEEN  OLIVER SLOUP WITH II TRADER FROM THE FLOOR OF THE CME. 

AGRIBUSINESS
HARVEST IS RIGHT AROUND THE CORNER AND IN MANY PLACES, LAST YEAR'S  CROP IS STILL SITTING ON FARM.  TYNE MORGAN ASKS FOR IDEAS ON MAKING BIN SPACE IN TODAY'S ANALYSIS. HERE NOW WITH MIKE NORTH OF COMMODITY RISK MANAGEMENT GROUP MIKE LET'S TALK ABOUT THIS OLD  CROP CORN I MEAN WE KNOW THAT SOME OF OUR VIEWERS HAVE NOT HAS HAD AS MANY  OPPORTUNITIES AS THEY'VE HAD IN BEANS TO PRICE CORN AT PROFITABLE LEVELS. SO THEY'RE STILL  SETTING AN OLD CROP. WE'RE GETTING READY FOR HARVEST WHAT DO THEY DO AT THIS POINT. WELL BASIS  HAS REMAINED WIDE THROUGHOUT THE COUNTRY HAS BEEN VERY DISHEARTENING FOR THOSE WHO HAVE  BEEN STORING CORN. THE THING WE HAVE TO REMEMBER IS THAT AS WE WORK INTO THIS NEXT HARVEST  IF THERE IS A YIELD CUT THAT'S THAT'S THAT'S A WONDERFUL PIECE FOR NEW CROP BUT BECAUSE WE HAVE  ALL OF THAT HARVEST CORN COMING TO THE MARKET WE'RE NOT LIKELY TO SEE BASIS IMPROVE AND B  WE'RE NOT LIKELY TO SEE MUCH PRICE IMPROVEMENT. SO REALLY IT BECOMES A LIABILITY IN THE BIN AND  WE'VE ENCOURAGED OUR CLIENTS ON THESE RALLIES TO BE MAKING SALES AND CLEANING THOSE BINS  OUT AND MOVING FORWARD RIGHT NOW OPTION PREMIUM IS CHEAP. IF YOU WANT ADDITIONAL  OPPORTUNITY IN AN UPSIDE MARKET LOOK AT A CALL OPTION BUT DON'T BE KEEPIN CORN IN THE BIN IT JUST  BECOMES MORE OF A LIABILITY AS WE WALK OUR WAY THROUGH THE NEXT SEVERAL MONTHS. NOW WHAT  ABOUT NEXT YEAR. YOU KNOW I'VE HEARD SOME SAY IF YOU DIDN'T SELL YOUR CORN LAST YEAR AND YOU  WERE EAGER TO SELL YOUR CORN LAST YEAR DON'T BE EAGER RIGHT NOW TO SELL SELL YOUR NEW CROP INVENTORY WHAT DO YOU THINK. WELL IF YOU DO HAVE STORAGE CAPACITY WITH BASIS AS WIDE AS IT IS  IF IF YOUR CASH FLOW ALLOWS IT THEN ULTIMATELY THAT BASIS OPPORTUNITY MAY GET BETTER ESPECIALLY IF  YIELDS GET SHORTENED UP AS WE HEAD TOWARDS FALL. AND SO THERE IS SOME OPPORTUNITY THERE FOR  THAT NEW CROP. WALKING FORWARD INTO 2018. BUT YOUR CASH FLOW HAS TO ALLOW YOU TO DO THAT.  AND SO AS IT STANDS TODAY CARRY IS DECENT I'M NOT GOING TO CALL IT GREAT BUT YOU COULD SELL THAT  FORWARD INTO A LITTLE BETTER PRICE WAIT FOR BASIS TO IMPROVE. SET YOUR BASIS LATER AND IN THE  MEANTIME BE CARRYING AGAIN CALL OPTIONS ARE CHEAP. BE CARRYING SOME CALL STRATEGIES TO ALLOW  YOU UPSIDE IF THERE IS SOME SORT OF A RUNAWAY BULL MARKET AROUND THE CORNER. ALL RIGHT. THANKS  MIKE. MORE NORTH PLENTY OF OPTIONS THERE. WE APPRECIATE IT. STAY WITH US. WE'LL BE BACK WITH  MORE AGDAY IN JUST A MOMENT. 

WEATHER
WELCOME BACK TO AGDAY HERE WITH METEOROLOGIST MIKE HOFFMAN LOOKING AT IT THAT DROUGHT  MONITOR AND MIKE THAT REALLY THAT NORTHERN PLAINS ALTHOUGH IT IS STRETCHING INTO IOWA NOW I  KNOW THAT IS A CONCERN OBVIOUSLY RIGHT INTO THE WESTERN PORTIONS OF THE CORN BELT AND YOU CAN  SEE HOW THAT DROUGHT AREA THAT WE'VE BEEN TALKING ABOUT ACROSS THE COATINGS HAS EXPANDED  TOWARD THE SOUTHEAST JUST IN THE PAST COUPLE OF WEEKS. IT'S STILL VERY DRY IN THE DAKOTAS  EASTERN MONTANA DESPITE HAVING GOTTEN SOME RAIN RECENTLY BUT THIS IS A LONG TERM DROUGHT.  TAKES WHILE TO GET OUT OF IT. THIS IS WHAT IT LOOKED LIKE FOUR WEEKS AGO. YOU COULD SEE REALLY IT  WAS ALREADY BECOMING VERY BAD ACROSS MANY PARTS OF THE DAKOTAS INTO EASTERN MONTANA.  WE WENT TO AN EXCEPTIONAL DROUGHT IN PARTS OF THAT AREA FOR A COUPLE OF WEEKS THERE AND THAT  HAS LESSENED UP A LITTLE BIT. AS YOU'LL NOTICE IN THE LATEST ONE THERE NOT A WHOLE LOT BUT IT HAS  EXPANDED LIKE A SET INTO PARTS OF NORTHEASTERN NEBRASKA IOWA EVEN INTO A LITTLE CHUNK OF MISSOURI AND ILLINOIS THERE. LET'S TAKE A LOOK AT THE MOISTURE TODAY AND IT'S A LONG A COUPLE OF  SYSTEMS ONE IN THE GREAT LAKES AND THE NORTHEAST THAT'S FOR MOST OF THAT MOISTURE IS WITH  THAT SYSTEM THIS IS A SMALL SYSTEM NOT GOING TO PRODUCE WIDESPREAD HEAVY RAINS OR ANYTHING  AS WE HEAD THROUGH THE DAY AND YOU CAN SEE HEADING THROUGH TIME. THE FIRST COLD FRONT INTO  THE SOUTHERN AND CENTRAL APPALACHIANS SHOWERS AND THUNDERSTORMS INTO THE MID-ATLANTIC AS  WELL STATIONARY FRONT STILL PRODUCING SOME ACTIVITY IN FLORIDA. AND THAT SYSTEM OBVIOUSLY ACROSS  MINNESOTA DOWN INTO THE CENTRAL PLAINS. THAT WILL CONTINUE TO HEAD EAST. SEE HIGH PRESSURE  COMING IN BEHIND US GOING TO DRY THINGS OUT AGAIN IN THE NEXT FRONT REALLY HAS VERY LITTLE  MOISTURE ALONG IT. TAKE A LOOK AT THE REST OF THE DAY TOMORROW. THEN YOU CAN SEE HOW THE  FIRST FRONTS INTO THE SOUTHEAST SO IT'S ALREADY DRYING OUT MUCH OF THE NORTHEAST. THE SECONDARY  WIND KIND OF COME IN THROUGH THE OHIO RIVER VALLEY PARTS OF THE LOWER GREAT LAKES WITH SOME  SCATTERED SHOWERS AND STORMS. WE'LL CONTINUE TO SEE SCATTERED AFTERNOON ACTIVITY IN THE  SOUTHWEST. PRECIPITATION ESTIMATES OVER THE PAST 24 HOURS. MOST OF IT HAS BEEN IN THE EAST.  AND AS YOU'LL NOTICE THAT SECOND SYSTEM THAT'S PRODUCING SCATTERED LIGHT AMOUNTS FOR THE  MOST PART FEW SPOTS MIGHT GET A HALF INCH OR SO BUT IT'S MAINLY OUT AHEAD OF THIS FIRST SYSTEM  AND ALSO THAT STATIONARY FRONT IN FLORIDA. HIGH TEMPERATURES TODAY PRETTY HOT. SOUTH OF THOSE  TWO FRONTS BUT COOLER OFF TO THE NORTH AND LESS HUMID IN THE NORTHERN PLAINS. LOW  TEMPERATURES AND I GOING TO DROP OFF INTO THE WELL 60S ACROSS MOST OF THE NORTHERN PORTIONS OF  THE CORN BELT FROM ST. LOUIS SOUTHWARD THOUGH HOLDEN IN THE 70S. HIGHS TOMORROW AFTERNOON  KIND OF MORE OF THE SAME. LOTS OF 80S AND 90S THROUGHOUT THE SOUTHLAND BUT SOME 70S  SHOWING UP GREAT LAKES NORTHERN MISSISSIPPI VALLEY INTO THE NORTHEAST. THERE IS THE JET  STREAM AND YOU CAN SEE THE FIRST TROUGH KIND OF DIGGING THROUGH THEN WE GO ZONAL FOR A WHILE  THAT'S WHERE WE WARM UP A LITTLE BIT AGAIN. AND THEN OUR COMPUTER MODEL CONTINUES GO BACK  TO THE TROUGH IN EAST RIDGE OUT WEST NEXT WEEK. THAT'S A LOOK ACROSS THE COUNTRY NOW. TAKE A  LOOK AT SOME LOCAL FORECASTS WE HEAD TO BAKERSFIELD CALIFORNIA. FIRST OF ALL TONS OF SUNSHINE  AND WARM HIGH AROUND 100 FORT DODGE IOWA VARIABLY CLOUDY AND AFTERNOON THUNDERSTORM  LIKELY HIGH OF 80 DEGREES AND IN HAMPTON VIRGINIA. HOT AND HUMID WITH AN AFTERNOON  THUNDERSTORM IN SOME AREAS HIGH AROUND 90. 

TEASE
DON'T GO AWAY, WE'LL TALK MANAGING MIDSEASON NITROGEN WITH KEN FERRY  ON CORN COLLEGE TV. AND WE'LL TELL YOU ABOUT GOOD FORTUNE IN THE GARDEN. AND THE MESSAGE  SHOULD "RING" TRUE FOR MARRIED COUPLES.

FARM JOURNAL COLLEGE TV
NOTHING HELPS OFFSET LOW PRICES LIKE MAXIMIZING YIELDS. THIS MORNING ON FARM JOURNAL COLLEGE TV, KEN FERRIE HELPS US MANAGE  OUR MID-SEASON NITROGEN NEEDS WE'RE HERE WITH FARM JOURNAL FIELD AGRONOMIST KEN FERRIE TODAY WE'RE GOING TO BE TALKING ABOUT NITROGEN MID-SEASON. SO KEN AS WE'RE LOOKING BEHIND US LOOKS PRETTY GOOD. SO HOW  DO WE MAKE THE DECISION WHETHER AT THIS POINT MID SEASON IF WE SHOULD APPLY MORE AND THE  ECONOMICS BEHIND THAT. THAT'S A QUESTION THAT'S BEEN COMING IN A LOT BECAUSE OF THE RAINY  SPELL WE'VE JUST BEEN EXPERIENCING AS WELL. HOW MUCH HAVE WE LOST. REALLY LOOKS GOOD. I  DON'T WANT TO GIVE UP ON THE OPPORTUNITY. SHOULD I JUST GO OUT THERE AND ADD SOME MORE  NITROGEN TO THAT PICTURE. AND THAT SOUNDS LIKE A SIMPLE PROCESS BUT THE REALITY IS ONE THIS CORN  PLANT TALKING TO US RIGHT NOW SAYS IT'S NOT DEFICIENT AT THIS TIME AND THERE'S NO WAY TO LOOK AT IT  AND KNOW IF IT'S GOING TO BE DEFICIENT IN THE END OF THE GRAIN FILL ITSELF. SO WE'RE GETTING KIND OF LATE IN THIS SITUATION HERE TO BE DOING SOMETHING WITHIN IT. SO THE CAUTION WOULD BE PROBABLY  YOU'RE NOT GOING TO MAKE AN APPLICATION AT LEAST IF YOU ARE YOU'RE GOING TO PULL A NITRATE  SAMPLE AND YOU'RE GOING TO LOOK AT THE SOIL NITRATES TO DECIDE IF IF MAYBE YOUR TANK IS GOING TO  RUN EMPTY BEFORE YOU GET THERE. BECAUSE IF WE COME IN HERE RIGHT NOW WE'RE GOING TO HAVE  TO EITHER HAVE HIGH CLEARANCE EQUIPMENT TO GET THIS IN AND IT'S GOING TO BE PRETTY GOOD SIZED  EQUIPMENT AND THAT'S GOING TO BE COSTLY ARE WE COULD FLY IT IN WITH AN AIRPLANE. BUT WHEN WE  FLY AN AIRPLANE WE DO RUN THE RISK OF CAUSING BURN ON THESE LEAVES AND THAT BURN COURSES  OPEN FOR DISEASES SUCH AS GOSSES WILT OR SOMETHING LIKE THAT. YOU LITERALLY COULD BE ADDING  $60 TO YOUR EXPENSE SIDE OF THE SHEET BUT NOT ADDING ANYTHING TO THE YIELD ITSELF. AND I KNOW  PUSHING IT FOR THAT HIGHER YIELD IS KIND OF EXCITING BUT IT REALLY IS SOMETHING THAT YOU'D HAVE TO  BE CAREFUL WITH ESPECIALLY WHEN THE BASE OF THIS PLANT IS TELLING US IT'S OK. NITROGEN IS MOBILE.  IT'LL COME OUT OF THOSE LOWER LEAVES AND MOVE TO THE TOP WHEN IT NEEDS IT. SO WE'LL LOOK AT THE  NEXT ROW AND WE'LL SHOW YOU THAT THE PLAN IS TELLING US SOMETHING DIFFERENT. SO WE MOVED  OVER A LITTLE BIT AND NOW WE CAN CLEARLY SEE THAT THIS PLANT IS NITROGEN DEFICIENT. CORRECT. SO  WE'RE LOOKING AT THIS PLANT IN THE LOWER LEAVES. MOST OF THEM ARE ALREADY GONE. THEY'VE BEEN  CANNIBALIZED THE PLAN IS OFF IN COLOR. THIS PLANT IS TALKING TO US. IT'S IN TROUBLE RIGHT NOW AND IT'S  TRYING TO GET POLLINATED. MOST LIKELY IT'S NOT GOING TO HAVE ENOUGH NITROGEN TO FINISH. I'D LIKE TO  HAVE MY NITROGEN ON THE WEEK BEFORE NO LATER THAN THE WEEK AFTER POLLINATION SO WE'D HAVE  TO REACT PRETTY QUICK HERE. I WOULD STILL PULL IN NITRATE TO DECIDE HOW FAR OFF IT IS AND THEN I  WOULD MAKE THE APPLICATION ACCORDINGLY. BUT IT WOULD NEED TO HAPPEN PRETTY QUICK IN THIS  CASE IF YOU HAD HIGH CLEARANCE AND YOU COULD DRILL IT DOWN HERE AT THE BASE THAT WOULD BE A  GOOD THING. BUT EITHER WAY YOU NEED TO GET SOME NITROGEN ON HERE BEFORE BECAUSE WE'RE  STARTING TO REALLY GIVE UP YIELD IN THIS SITUATION. 


TEASE
STILL TO COME - A STORY ABOUT CARROTS. . . AND CARATS. IN THE COUNTRY IS NEXT.

IN THE COUNTRY
IN THE COUNTRY - BROUGHT TO YOU BY KUBOTA.  CHECK OUT KUBOTA'S RTV-X-1140, A RUGGED  UTILITY VEHICLE WITH SEATING FOR FOUR.  SYOP BY YOUR LOCAL DEALER TODAY, OR VISIT KUBOTA.COM.  HERE'S AN IMPORTANT LESSON FOR FARMERS OR GARDENERS WHO MIGHT  REACH THEIR HANDS INTO THE SOIL TO CHECK THE TILTH OR TO HAND-PULL  SOME CARROTS FROM THE GROUND. CANADIAN FARM WIFE, MARY GRAMS, WAS JUST RE-UNITED WITH HER  ENGAGEMENT RING THAT SHE LOST 13 YEARS AGO IN HER GARDEN. MARY'S DAUGHTER IN LAW FOUND THE RING WHILE PULLING WEEDS. IT WAS  AROUND A MIS-SHAPENED CARROT! "WHY I DIDN'T GRAB IT WITH MY RIGHT HAND OR LEAVE IT ALONE I'LL NEVER KNOW. AND SOMEHOW IT  MUST HAVE HOOKED THE RING AND THE RING FELL OFF."> "I STARTED LOOKING CROUCHED ON MY HANDS AND KNEES AND I GOT NOWHERE AND I TRIED THIS FOR  MANY DAYS."BUT MARY HAD NO LUCK. AND SHE DIDN'T TELL HER HUSBAND. MARY EVEN WENT  TO A JEWELER TO SEE IF SHE COULD FIND A REPLACEMENT. THAT WAS DECADES  AGO. SO A FEW DAYS AGO, MARY'S DAUGHTER IN LAW WAS PICKING CARROTS FOR  DINNER AND SAW SOMETHING STRANGE WHEN SHE PULLED THE SPECIAL  CARROT. AS SHE WAS WASHING THEM, SHE NOTICED THE RING. FORTUNATEL, MARY HAD TOLD HER SON. SO HE KNEW EXACTLY WHAT THIS  DISCOVERY WAS. "SHE SAID DID YOU LOSE AN ENGAGEMENT RING? AND I SAID YES AND THEN SHE STARTED  LAUGHING." MARY AND HER HUSBAND WERE MARRIED FOR 60 YEARS. BUT HE DIED FIVE  YEARS AGO...AND NEVER KNEW THE TRUTH. MARY SAYS THE RING SLID-ON HER  FINGER JUST AS IT DID WHEN HER HUSBAND FARMER GAVE IT TO HER. THE FARM HAS BEEN IN THE FAMILY FOR 105 YEARS.

CLOSE
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.  FOR TYNE MORGAN AND MIKE HOFFMAN, I'M CLINTON GRIFFITHS. HAVE A GREAT  DAY. AGDAY IS POWERED BY RAM TRUCKS - AMERICA'S LONGEST LASTING PICKUPS.

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