AgDay Daily Recap - September 26, 2016

July 8, 2016 02:57 AM
 

TODAY ON AGDAY
SEPTEMBER 26, 2016

HEADLINES
TODAY ON AGDAY-WASHINGTON CONTINUES ITS LOOK AT THE STATE OF THE FARM ECONOMY. PLUS, SWEET POTATO HARVEST IN LOUISIANA. IN AGRIBUSINESS, MARKETING ADVICE AS HARVEST ROLLS ON. “WHEN YOU LOOK AT IT I THINK FROM A PRODUCERS STAND POINT YOU REALLY HAVE TO SIT BACK.” MACHINERY PETE GIVES US THE BIG PICTURE ON USED FARM EQUIPMENT PRICES. AND FOOD IN THE FASTLANE. WE'LL SEE HOW FARMERS ARE TALKING TO CONSUMERS AT THE TRACK. AGDAY-BROUGHT TO YOU BY THE DEPENDABLE, LONG LASTING CHEVY SILVERADO.

FARM INCOME CONCERNS
GOOD MORNING I'M CLINTON GRIFFITHS. AS FARMERS AND LIVESTOCK OWNERS WORKTO WRAP UP ANOTHER GROWING SEASON, MANY ARE CONCERNED ABOUT THE FUTURE OF FARM INCOME. WHILE SURVEYS LIKE THE RURAL MAINSTREET INDEX INDICATE BANKS ARE RESTRUCTURING AND RECONSIDERING FARM LOANS, USDA SECRETARY TOM VILSACK IS STILL CONVINCED OVERALL THE INDUSTRY IS SOUND.HE MADE THOSE COMMENTS ON CAPITOL HILL DURING A SENATE AG COMMITTEE HEARING LAST WEEK. IN WHAT COULD BE HIS LAST VISIT, VILSACK DEFENDED THE FARM ECONOMY WHILE SEEKING FLEXIBILITY FROM CONGRESS TO HELP DAIRY AND OTHER PRODUCERS.VILSACK SAYS HE EXPECT FARM EXPORTS TO RISE IN 2017, AND FARM DEBT REMAINS WELL BELOW THE 1980'S. THE LOWEST DEBT TO EQUITY WE'VE EVER EXPERIENCED WAS 11.3 PERCENT THE DEBT TO EQUITY LEVEL TODAY IS 12.4 PERCENT IN 1985 IN THE MIDST OF THE FARM CRISIS THAT YOU AND I ARE CERTAINLY AWARE OF IT WAS 22 PERCENT. SO THE DEBT TO EQUITY RATIO STILL APPEARS TO BE STRONG. AND THEN WE LOOK AT FARMERS AND FARM OPERATIONS THAT ARE EXTREMELY LEVERAGED OR HIGHLY LEVERAGED, THOSE ARE THE PEOPLE THAT WE ARE MOST CONCERNED ABOUT BECAUSE THOSE ARE THE FOLKS THAT ARE ON THE EDGE AND WE CALCULATE THAT ROUGHLY 10 PERCENT OF THE OPERATIONS, I THINK ITS 6 PERCENT ON THE LIVESTOCK SIDE 4 PERCENT ON THE CROP SIDE ARE IN THOSE TWO CATEGORIES. WHICH MEANS THAT 90 PERCENT OF OPERATIONS ARE OUTSIDE OF THOSE TWO CATEGORIES. VILSACK ALSO ADDRESSING A POTENTIAL NEW FARM BILL. HE SAYS LAST TIME, LAWMAKERS BEGAN BY LOOKING FIRST AT COSTS.HE SUGGESTS FOCUSING ON NEEDS AND THE VALUE OF A FARM PROGRAM...AND THEN DETERMINING WHAT IT MIGHT COST FROM THERE.

CATTLE ON FEED
THE NATION'S FEEDYARDS HAVE SPENT THEIRFAIR SHARE OF THE LAST YEAR IN THE RED. ON FRIDAY USDA RELEASING ITS LATEST CATTLE ON FEED NUMBERS. THE REPORT SHOWS 10-POINT-ONE MILLION HEAD OF CATTLE IN THE FEEDYARDS. THAT'S UP ONE PECENT FROM A YEAR AGO. PLACEMENTS ARE UP 15-PERCENT FROM A YEAR AGO, COMING IN NEARLY ONE-POINT-NINE MILLION HEAD.MARKETINGS OF FED CATTLE CLIMBED 18-PERCENT ABOVE 2015 LEVELS...PEGGING ONE-POINT EIGHT MILLION HEAD. REGIONALLY SOME CATTLE BUYERS ARE OPTING TO WAIT A LONGER TO PUT LIVESTOCK ON FEED.LOCALLY, NUMBERS WISE, I'M SEEING A LOT OF EMPTY PENS. THEIR PENS ARE EMPTY. A LOT OF PEOPLE IN THESE LOCAL AREA WILL WAIT FOR CALVES ALSO. THERE ARE A LOT OF EMPTY PENS ALREADY THAT NORMALLY HAVE SOME CATTLE IN THEM.

GERMANY TRYING TO CURB BAYER/MONSANTO
LAWMAKERS IN GERMANY ARE CALLING ON REGULATORS TO CURB BAYER AG'S $66 BILLION PROPOSED TAKEOVER OF U.S. BASED MONSANTO. DEBATE THIS WEEK IN THE LOWER HOUSE OF PARLIAMENT, SHOWED DEEP RESISTANCE TO BAYER BUYING A U.S. COMPANY THAT MANY GERMANS VIEW AS A CHAMPION OF GM CROPS. EIGHT OF THE 12 LAWMAKERS WHO SPOKE, INCLUDING THOSE FROM WITHIN CHANCELLOR ANGELA MERKEL'S COALITION, CAST DOUBT ON THE ACQUISITION. HOWEVER, LAWMAKERS IN GERMANY HAVE NO LEGISLATIVE AUTHORITY TO STOP THE DEAL.

COTTON SEED MERGER STUDY
RESEARCHERS AT TEXAS A-AND-M ARE STUDYING THE PROPOSED MERGER. AND IT'S THEIR COTTON SEED. MEMBERS OF THE AG AND FOOD POLICY CENTER AT A-AND-M SUGGEST COTTON SEED COULD CLIMB 18-PERCENT. THE ECONOMISTS SAY THE MONSANTO-BAYER COMBO WOULD CONTROL 70-PERCENT OF THE COTTON SEED MARKET. CORN AND SOYBEAN SEEDS COULD MOVE ABOUT TWO PERCENT HIGHER.

LOUISIANA SWEET POTATO HARVEST
LOUISIANA FARMERS ARE NOW HARVESTING SWEET POTATOES. THE WET WEATHER PUSHED THE HARVEST BACK, AND THERE ARE REPORTS OF POTATOES ROTTING BECAUSE OF THE WET CONDITIONS. LSU AGCENTER'S CRAIG GAUTREAUXHAS THE STORY.FOR DECADES, BEAUREGARD WAS THE DOMINANT SWEET POTATO VARIETY ACROSS THE SOUTH. NOW, A NEWER VARIETY CALLED ORLEANS HAS FINALLY SURPASSED BEAUREGARD, PRIMARILY BECAUSE IT PRODUCES MORE PREMIUM GRADE POTATOES. DON LABONTE: IT HAS A REALLY NICE SHAPE PROFILE. WE ARE LOOKING AT AN INCREASE OF 10 PERCENT, MAYBE UP TO 15 PERCENT IN THAT NO. 1 SHAPE THAT YOU ARE LOOKING FOR TO SELL TO THE FRESH MARKET. ANOTHER VARIETY SHOWING PROMISE IS BELLEVUE. IT IS DIFFERENT FROM TRADITIONAL POTATOES BECAUSE IT HAS A COPPER-TONED SKIN. ANOTHER BENEFICIAL TRAIT IS IT STORES BETTER, WHICH IS GOOD FOR THE FRESH MARKET LATER IN THE SEASON. IT STORES REALLY WELL, AND SO AS THE OTHER VARIETIES BEGIN TO FADE, IT'S STILL KEEPING ITS WEIGHT AND COLOR. LOUISIANA HAS APPROXIMATELY 9,300 ACRES DEDICATED TO SWEET POTATO PRODUCTION. LIKE MANY AGRICULTURE COMMODITIES IN THE STATE, IT DID NOT ESCAPE THE HEAVY RAINS OF AUGUST, AND SOME LOSSES ARE EXPECTED. MYRL SISTRUNK:  WE HAD A GOOD YIELD POTENTIAL IN BUT THIS WET PERIOD IS GOING TO HURT THAT YIELD, ESPECIALLY IF WE HAVE SOME POTATOES LOST DUE TO ROTTING. BLACK GOLD FARMS IS ONE OF THE LARGEST SWEET POTATO PRODUCERS IN THE STATE WITH NEARLY 2,800 ACRES. THEY HAVE JUST STARTED HARVESTING AND HOPE TO BE FINISHED BY THE END OF OCTOBER. EARLY INDICATIONS ARE THAT SOME POTATOES HAVE BEEN DAMAGED, BUT A GOOD HARVEST IS STILL EXPECTED. JOE MILLMAN: THERE HAS BEEN SOME EVIDENCE OF ROT COMING FROM THE FIELDS. YOU KNOW COUNTS VARY FROM FIELD TO FIELD. IT LOOKS TO HAVE AN IMPACT, BUT IT DOESN'T LOOK LIKE SOMETHING TO BE REALLY CONCERNING AT THIS POINT. LOUISIANA PRODUCERS GROW SWEET POTATOES FOR BOTH THE FRESH MARKET AND FOR PROCESSING. WITH THE LSU AGCENTER, THIS IS CRAIG GAUTREAUX REPORTING.  LOUISIANA RANKS FOURTH IN THE NATION IN SWEET POTATO PRODUCTION BEHIND NORTHCAROLINA, CALIFORNIA AND MISSISSIPPI.

IOWA FLOODING
THE FLOODED CEDAR RIVER IS EXPECTED TO PEAK TODAY IN NORTHEASTERN IOWA. IT WAS A LONG WEEKEND FOR RESIDENTS TRYING TO KEEP THE  HIGH WATER OUT OF THEIR HOMES AND BUSINESSES.THE CEDAR, LIKE OTHER RIVERS IN IOWA AND MINNESOTA, LEFT THEIR BANKS AFTER ABOUT A FOOT OF RAIN HIT LAST WEEK.ON FRIDAY THE NATIONAL WEATHER SERVICE WAS PREDICTING LESS-THAN-RECORD CRESTS, BUT OFFICIALS SAY AT LEAST MODERATE FLOODING SEEMS A CERTAINTY. ALL OF THAT WATER FROM THE CEDAR RIVER AND OTHER FLOODED STREAMS WILL RUN-OFF INTO THE MISSISSIPPI.  THAT SAME STORM DRENCHED SOUTHERN MINNESOTA AND WESTERN WISCONSIN.  THOSE STATES  ALSO DRAIN THE MISSISSIPPI.FRIDAY AT LOCK AND DAM NUMBER 11 AT DUBUQUE, IOWA, THE STAGE WAS AT ELEVEN FEET. THAT'S HIGHER THAN NORMAL. BUT  THE ARMY CORPS OF ENGINEERS IS KEEPING A CLOSE EYE PREPARATIONS WE HAVE TO DO. WE'LL WATCH THE FORECAST AND MAKE THAT JUDGEMENT. IF IT LOOKS LIKE WE HAVE TO TAKE ACTION, WE WILL.

 

CROP COMMENTS
DAVID HARKER IS FILLING IN THIS MORNING. HE HAS A LOOK AT CROP COMMENTS. GOOD MORNING CLINTON. WE'VE BEEN WATCHING THOSE STORM SYSTEMS OVER THE WESTERN CORN BELT CLOSELY THE LAST COUPLE OF DAYS.TAKE A LOOK AT THESE PICTURES. OUR GOOD FRIEND CHIP FLORY SENT THIS PICTURE FROM NEAR CEDAR FALLS IOWA. HE SAYS THIS LITTLE CREEK IS REALLY STARTING TO RISE. CHIP SAID THERE WERE PLACE NEARBY THAT GOT NEARLY A FOOD OVER RAIN OVER THE LAST FEW DAYS. NOW THIS PICTURE COMES FROM BRAD EDWARDS NEAR HOLLANDALEMINNESOTA.HIS FARM GOT 6 INCHES OF RAIN WITH THIS LATEST STORM.THEY WERE IN THE MIDDLE OF HARVEST.HE SAYS NOW IT WILL BE 7 TO 10 DAYS AT LEAST BEFORE THEY CAN GET BACK IN THE FIELD. AND THIS LAST PHOTO IS FROM NORTHEAST SOUTH DAKOTA. JASON FRERICHS IS BUSY COMBINING BEANS. HE DID NOT RECEIVE THE DOWNPOUR OF RAIN. HOWEVER, HE STILL EXPERIENCED SOME RAIN DELAYS LATE LAST WEEK. ALL OF US ARE GOING TO SEE SOME MORE RAIN SHOWERS IN FACT HERE’S A LOOK AT WHAT WE SAW OVER THE LAST WEEK MANY OF US ARE LIKELY TO SEE THOSE DOWNPOURS CONTINUE ESPECIALLY ALONG THE EASTERN SEABOARD AND EVEN INTO THE GREAT LAKES NOW LET’S TALK A LOOK AT SOME OF YOUR HOMETOWN TEMPERATURES AND NOW HERE ARE SOME HOMETOWN TEMPS.

 

TEASE     
WHEN WE COME BACK, WE'LL LOOK AT RECENT MARKET ACTION AND TALK ABOUT HOW THIS RECENT WEATHER COULD IMPACT HARVEST.AND LATER MACINERY PETE. STAY TUNED FOLKS COMING UP WE'LL TALK ABOUT TWO FACTORS THAT COULD REALLY AFFECT USE VALUES IN THE NEXT SIX TO NINE MONTHS. PLUS TAKING FOOD FROM THE FARM TO THE FINISH LINE.

 

AGRIBUSINESS
OUR GUEST HERE AT THE AGRIBUSINESS DESK WE HAVE DON ROOSE, U.S.COMMODITIES. DON LET'S TALK ABOUT IT IS HARVEST SEASON. WE ARE GETTING THE CROP OUT OF THE FIELD BUT I THINK FOLKS ARE STILL TRYING TO WONDER WHAT'S HAPPENING BETWEEN WEATHER AND MARKETS AND PRICES AND WHAT WE DO WITH THIS GRAIN ONCE WE GET IT. AND I THINK THAT'S A GOOD QUESTION. WHEN YOU LOOK AT IT AND I THINK FROM A PRODUCER'S STANDPOINT YOU REALLY HAVE TO SET BACK. IT LOOKS LIKE WE'RE GOING TO HAVE A BIG CROP OF SOYBEANS COMING AT US, PROBABLY AN OVER THE TOP YIELD POSSIBLY...CORN A BIG YIELD. BUT I THINK IN THE CORN MARKET YOU PROBABLY HALF TO MARKET DIFFERENT THAN SOYBEANS FOR DIFFERENT PEOPLE. IF YOU HAVE STORAGE AND YOU SHOULD TRY AND TAKE ADVANTAGE OF THE CARRY IN THE MARKET FROM DECEMBER TO JULY TWENTY FOUR CENTS SO TRYING TO CARRY IT BUT PUT ON SOME RISK MANAGEMENT OUT INTO JULY TO MAKE SURE THAT YOU DON'T LOSE THAT CARRY. I THINK IF YOU DON'T HAVE THE STORAGE ON CORN I THINK HAVE TO LOOK HARD IF YOU CAN BEAT THE STORAGE COST AND THE DRY DOWN SO YOU PROBABLY HAVE TO SELL IT OFF THE COMBINE OR EVEN BEFORE HARVEST AND BUY CALLS OUT INTO THE JULY OPTION GIVE YOURSELF A CHANCE FOR A SPRING RALLY SO I THINK THAT BUT ON SOYBEANS IT'S A LITTLE BIT DIFFERENT. WE'RE FRONT LOADED ON DEMAND AHEAD OF THE SOUTH AMERICAN CROP, WHICH IS GOING TO START IN JANUARY ON I THINK FROM A PRODUCER'S STANDPOINT WHAT YOU PROBABLY WANT TO DO IS MARKET THE CROP BEFORE THE RIVERS FREEZE. GET AN ADVANTAGE OF THE EXPORT MARKET TAKING ADVANTAGE OF THE OF EXPORT MARKET AND NOT BE LEFT JUST WITH THE CRUSH WITH THE CRUSHING PLANTS OUT HERE SO I'M MORE IN FAVOR OF SELLING THE BEANS AT THIS LEVEL WITHOUT CARRY IN THE MARKET. AND THEN RE-OWNING IF YOU WANT OUT IN THE JULY OPTION NOT THAT BIG OF CARRY SO THAT'S WOULD LOOK AT GOING IN. A COUPLE STRATEGIES. YEA A COUPLE STRATEGIES. DO YOU THINK THIS WEATHER HICCUP WE HAD A LAST WEEK OR SO IS GONNA CHANGE ANY MARKET FACTORS. WELL YOU KNOW IT'S TERRIBLE FOR THE PEOPLE THAT ARE INVOLVED NO DOUBT ABOUT IT. BUT IF YOU LOOK AT IT IN A BIG PERCENTAGE IT'S JUST UNDER ONE PERCENT OF THE TOTAL ACRES. SO IT'S REALLY NOT GOING TO AFFECT FROM THAT STANDPOINT.I THINK IT DID PUT THE DOWN SIDE MOVE ON HOLD AT THE END OF LAST WEEK BUT THEN WE HAD A VERY POOR CALLS TO END THE WEEK AFTER WE WERE SUPPORTED A LITTLE BIT SO I DON'T THINK IT'S GOING TO BE A MARKET MOVER. LONG TERM IT HASN'T REALLY CHANGED FUNDAMENTALS WHICH IS WHAT YOU'RE SEEING. I DON'T THINK SO. APPRECIATE DON. THANKS FOR BEING HERE. WE'LL BE BACK WITH MORE AGDAY IN JUST MINUTE. FOR ALL OF YOUR RISK MANAGEMENT AND TRADING NEEDS, CALL ONE OF THE U.S. COMMODITIES SPECIALISTS AT 800-247-4071.  YOU'RE A FARMER.  AND YOU ARE RELENTLESS.  WE'RE RELENTLESS TOO.  VISIT MYCOGEN-DOT-COM, OR YOUR LOCAL MYCOGEN SEEDS DEALER TO LEARN MORE ABOUT OUR RELENTLESS DEDICATION TO YOU.

NATIONAL WEATHER
WELCOME BACK TO AGDAY ON  THIS MONDAY MORNING DAVID HARKER IN FOR MIKE HOFFMAN. DAVID, WHEN WE LOOK AT THIS MAP OF RAINFALL THE LAST WEEK, YOU CAN REALLY SEE THE AREAS THAT GOT THE MOST. YEAH, WE'RE TALKING ALMOST A FOOT OF RAIN JUST IN IOWA, MINNESOTA AND WISCONSIN ALONE AND THEN ALONG THE EASTERN SEABOARD WHICH YOU SEE THERE ON THE SCREEN. TAKE A LOOK AS WE MOVE TO THE CENTRAL PLAINS THEN GET AS MUCH RAIN AS THEY WERE HOPING FOR. TAKE A LOOK UP IN THE NORTHERN PLAINS STATES AND BOY, WHEN YOU START TALKING ABOUT THOSE YELLOWS AND ORANGES. WE'RE TALKING OVER SIX TO SEVEN INCHES PLUS OF RAINFALL EVEN TOWARD THE EASTERN SEABOARD, TROPICAL MOISTURE MOVING UP AND DOWN THE EASTERN SEABOARD OR TALKING AREAS IN VIRGINIA AND NORTHERN CAROLINAS. BOY, WE'RE SEEING OVER NINE TO TEN INCHES OF RAIN. IT'S GOING TO TAKE SOME TIME TO FINALLY DRY THINGS OUT. HERE'S A LOOK AT THE JET STREAM. WE HAVE THIS LARGE DIP IN THE NORTHERN PLAINS STATES. THAT'S GOING TO ALLOW THE COOLER AIR TO SETTLE IN FOR THE MIDDLE OF THE WORK WEEK.   IT'S GOING TO FEEL LIKE THE SIXTIES TO ROLL INTO AREAS OF THE NORTHERN PLAINS STATES GREAT LAKES AND THE NORTHEASTERN PORTION OF THE UNITED STATES BY WEDNESDAY. NOTICE THE BIG RIDGE OF HIGH PRESSURE BUILDING BACK. THAT MEANS DRIER CONDITIONS FOR THE SOUTHERN PLAINS STATES FOR TEXAS, LOUISIANA AND THE DEEP SOUTH. AS WE TRANSITION TO THURSDAY AND EVEN INTO FRIDAY NEXT WEATHER MAKER MOVES INTO THE NORTHWEST. THAT MEANS RAIN SHOWERS ARE EXPECTED TO ROLL BACK IN WHERE THEY'RE LIKELY TO BE DRY JUST OVER THE NEXT SIX TO TEN DAYS. WE USE NICE SOAKER FOR THOSE NORTHERN PLAINS STATES INCLUDING MONTANA OR IDAHO AND INTO A WYOMING.  NOW HERE'S ONE OF THE WEEK TEMPERATURE WISE. TAKING A LOOK AT THOSE BELOW NORMAL NUMBERS. THAT'S ALL OFF TO THE NORTHWEST. THAT'S WHERE WE'RE LIKELY TO SEE THE COOLER THAN NORMAL TEMPERATURES THIS TIME OF YEAR AND EVERYONE ELSE IS MORE LESS ABOVE NORMAL. TAKE A LOOK AT THE PRECIPITATION. WE'RE SEEING BELOW NORMAL ACROSS THE UNITED STATES. A FEW POCKETS TO THE NORTH TOO.  THAT'S CLOSER TO A NORTH DAKOTA AND EVEN INTO THE MONTANA REGIONS AND THEN SOUTHERN TEXAS AND FLORIDA LOOKING FOR ABOVE NORMAL ON THE RAINFALL. SOME OF THOSE LOCATIONS  BOY, THEY COULD USE A NICE DRINK. TAKE A LOOK AT OUR THIRTY DAY TEMPERATURES FOR THE GREAT LAKES, AND EVEN TOWARD THE EASTERN SEABOARD, WE'RE ABOVE NORMAL AS WELL AS OUT WEST. WHEN WE TALK ABOUT PRECIPITATION, COULD GET A LITTLE DICEY AS WE LOOK TO THE CENTRAL PLAINS STATES WITH MORE RAIN SHOWERS, DRY IN THE ATLANTIC COASTAL STATES TOO. THAT'S SOMETHING THAT WOULD REALLY BEEN FOCUSING ON JUST OVER THE PAST ARE TWENTY FOUR TO FORTY EIGHT HOURS. HOPEFULLY WE WILL GET MORE SHOWERS.

REGIONAL WEATHER
HERE'S A LOOK AT SOME OF THOSE ON DOWN TEMPERATURES. WOODVILLE, IDAHO, SUNNY AND WARM AND A HIGH OF SIXTY NINE DEGREES LOOK ON THE LOW SIDE TEMPERATURES ARE FORTY. AS WE MOVE UP TO RUTH, MICHIGAN, MILD WITH SHOWERS. SEVENTY AS A HIGH TEMPERATURE AND AS A MOVE IN ALMA, GEORGIA LOOKING AT EIGHTY SEVEN WITH SCATTERED SHOWERS.      

TEASE      
MACHINERY PETE IS ALL ABOUT NUMBERS. NEXT HE SHARES THE RESULTS OF A KEY REPORT ON THE VALUE OF USED EQUIPMENT. AND THE COVERSATION ABOUT THE SOURCE OF FOOD  MOVES TO THE FINISH LINE. 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!

MACHINERY PETE
MACHINERY PETE - SPONSORED BY THE GRIT, TOUGHNESS AND PERSERVERANCE OF FARMERS EVERYWHERE, WHO RELY ON CHEVRON DELO.  BECAUSE UNCOMMON JOBS REQUIRE UNCOMMON TOUGHNESS.  CHEVERON DELO - LET'S GO FURTHER. MACHINERY PETE SPENDS A LOT OF TIME AT AUCTIONS EVERY YEAR. THAT'S WHAT MAKES HIM THE LEADER IN HIS FIELD. THIS MORNING HE SHARES INSIGHT TO A KEY REPORT THAT GIVES A BROAD PERSPECTIVE ON THE VALUE OF USED EQUIPMENT. I KNOW IT SURPRISES A LOT OF PEOPLE WHEN I TELL THEM USED EQUIPMENT VALUES HAVE ACTUALLY BEEN HOLDING FLAT FOR THE PAST TWELVE MONTHS. BUT HERE'S A LOOK AT THAT REPORT I PUT OUT - THE QUARTERLY REPORT WE CALL OUR MACHINERY PETE USED VALUE INDEX.IT IS BASED ON ALL THE AUCTION SALE PRICED DATA WE COMPILE THROUGHOUT NORTH AMERICA. AND YOU CAN SEE THE LAST TWELVE MONTHS WE'VE KIND OF BEEN HOLDING FLAT. ON MY ONE TO TEN RATING SCALE KIND OF IN THAT 6.5 -6.6 RANGE NOW WE HAVE FALLEN A LONG WAYS FROM THREE YEARS AGO BUT THERE'S TWO FACTORS GOING  FORWARD THAT I'M REALLY KEEPING MY EYE ON THAT COULD AFFECT USED VALUES. ONE IS THE NUMBER OF FARM MACHINERY AUCTIONS. IN FACT IN THE MONTH OF JULY WE SAW OVER A 66 INCREASE IN THE NUMBER MACHINERY AUCTIONS AROUND THE COUNTRY AND GOING FORWARD THROUGH SPRING OF TWENTY SEVENTEEN WE'RE GOING TO SEE A LOT MORE SALES. UNFORTUNATELY A LOT OF SALES KINDA PUSHED BY AG LENDERS. A LOT OF FARM RESTRUCTURING SALES THAT WILL HAVE A LOT OF LATE MODEL RETURN ISSUE. IN PARTICULAR HOW WILL JOHN DEERE FINANCIAL AND CASE CREDIT DEAL WITH THE WAVE OFF LEASE RETURN EQUIPMENT COMING OFF LEASE?  HOW QUICKLY WILL THEY MOVE IT? AND AT WHAT PRICE POINT. AGAIN THESE FACTORS COULD REALLY AFFECT USED VALUES. NOW FOLKS REMEMBER IF YOU'RE LOOKING FOR USED EQUIPMENT YOU KNOW WHERE TO GO -MACHINERY PETE DOT COM.

TEASE    
NEXT THE DISCUSSION OF FOOD TRAVELS THROUGH NASCAR. DETAILS NEXT ON AGDAY.

LET’S TALK FOOD
IN THE COUNTRY - BROUGHT TO YOU BY KUBOTA'S BX AND L SERIES COMPACT TRACTORS - AVAILABLE NOW WITH A SIX-YEAR LIMITED POWERTRAIN WARRANTY.  LEARN MORE TODAY AT YOUR LOCAL KUBOTADEALER.THERE ARE ABOUT TWO MILLION FARMS IN THIS COUNTRY -BUT ABOUT 319 MILLION MOUTHS TO FEED.THAT MAY EXPLAIN WHY THERE'S SUCH A DIS-CONNECT BETWEEN FOOD PRODUCERS AND CONSUMERS.NOW AG GROUPS HAVE TEAMED-UP WITH NASCAR TO NARROW THAT GAP. TYNE MORGAN TELLS US ABOUT "LET'S TALK FOOD". TWO NASCAR DRIVERS..WOULD YOU SAY FARMING IS A LOT MORE DIFFICULT THAN DRIVING NASCAR? UGH, YEAH. FOR SURE. I GREW UP IN A FARM COMMUNITY. GOING FROM THE FARM TO THE FINISH LINE, COMING TOGETHER FOR ONE GRAND EVENT IN AN EFFORT TO CONNECT CONSUMERS TO PRODUCTION AGRICULTURE.  WHEN THE INITIATIVE OF LET'S TALK FOOD DOT COM CAME TOGETHER, FOR ME IT WAS JUST THE ICING ON THE CAKE, IT'S AN EXTRA PIECE TO WHAT WE'VE BEEN TRYING TO ACCOMPLISH FOR A NUMBER OF YEARS NOW. SO TO SEE WINFIELD AND BRANDT COME TOGHETHER. TO SEE THE SUPPORT WE HAVE FROM THE AG COMMUNITY, TO BE ABLE TO HELP DRIVCE EDUCATION IT'S A TOPIC FOR WHIICH BOTH ALLEGIER AND ARMSTRONG HAVE A PASSION. IT'S SO AMAZING TO ME JUST HTE LACK OF EDUCATION THAT THE PUBLIC HAS ON WHAT THE AG INDUSTRY GOES THROUGH,T HE STURUGGLES ARE, WHAT HTE CHALLENGES ARE WHAT THE BENEFITS ARE FOR WHAT THEY CAN PROVIDE FOR OUR CONSUMER LET'S TALK FOOD HAD A PROMINENT FOOTPRINT DURING THE NASCAR RACE AT CHICAGOLAND SPEEDWAY.  THE INIATIVE KICKED OFF WITH THE LAUNCH OF A NEW WEBSITE-LETS TALK FOOD DOT COM. BUT ON RACE DAY, FROM CARS, TO BURN SUITS TO HATS, THE DRIVERS ALONG WITH BRANDT, WINFIELD AND U-S FARMERS AND RANCHERS ALLIANCE FUELED CONVERSATION ALL WHILE BRINGING ATTENTION TO AGRICULTURE. FOR MOST PRODUCERS, THAT COMBINE IS THEIR SANUCATRY, THAT'S THEIR COMFORT ZONE, MOVING TO TALK TO A LOCAL SCHOOL S LOCAL GOVENRMENT BODY A LOCAL CONSUMER, THAT'S WHAT'S DICCULT FO THME THAT'S WHYTHE GROUPS TEAMED UP WITH FFA MEMBERS FROM CHICAGO AG SCIENCES, A HIGH SCHOOL IN CHICAGO THAT FOCUSES ON TEACHING AG TO INNER CITY STUDENTS, TO DISCOVER WHAT CONSUMERS REALLY THINK ABOUT HOW THEIR FOOD IS PRODUCED. WHERE DOES YOUR FOOD COME FROM? YOU MEAN WHAT GROCERY STORE? DO YOU BELIEVE YOUR FOOD IS PRODUCED SAFELY? SHE SAYS NO. I SAY I HOPE FARMERS ARE EXTRAORDINARLY TRUSTED BY CONSUMERS, THEY DON'T TRUST THE WAY WE GROW AND RAISE FOOD. SO THAT'S THE SHIFT WE HAVE TO MAKE.  IT'S A DIFFICULT CONVERSATION TO START, BUT ONE ARMSTRONG THINKS WILL HAVE A POSITVE OUTCOME.   JUST EDUCATING AS MUCH CONSUMERS AS POSSIBLE LETTING THEM KNOW WHAT WE'RE DOING WHY THINGS ARE IMPORTANT THAT WE GROW FROM THE RACING SIDE OF THINGS, WE ALWAYS LOOK AT WINS AND TOP 5S AND TOP 10S. BUT ALL IN REALITY, T HAT'S NOT WHAT MAKES THIS WEEKEND A SUCCESS. IF WE CAN EDUCATE 1 PERSON THAT EDUCATES ANOTHER 1 PERSON AND IT SPREADS THROUGHOUT THE COMMUNITY, I THINK WE'VE DONE OUR JOB THE SPORT AND THE DRIVERS ATTRACT FANS OF ALL AGES... SO WHO IS  YOUR FAVORITE DRIVER, JUSTIN...JUSTIN WHO? JUST ALEGIER. WHO WILL HOPEFULLY START TO CHEER ON FARMERS, AS WELL. REPORTING FROM CHICAGOLAND SPEEDWAY, I'M TYNE MORGAN FOR AGDAY.

CLOSE
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. HIGH STRENGTH STEEL FOR HIGH STRENGTH DEPENDABILITY, THE CHEVY SILVERADO IS THE OFFICIAL NEWS GATHERING VEHICLE OF AGDAY TELEVISION

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