AgDay Daily Recap- April 18, 2016

April 18, 2016 02:57 AM
 

TODAY ON AGDAY
APRIL 18, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY -I'M MICHELLE ROOK. THE BIOTECH LABELING DEBATE CONTINUES IN WASHINGTON, FIND OUT WHAT THE OUTCOME COULD MEAN OUT HERE ON THE FARM. THAT'S TODAY ON AGDAY. IN AGRIBUSINESS...PLANTING IS MOVING QUICKLY. "MOSTLY EAST OF THE MISSISSIPPI THEY'RE READY TO GO THEY'RE CHOPPING AT THE BIT AND THE WEATHER FORECAST LOOKS GOOD SO I THINK WE'RE GOING TO SEE SOME PRETTY IMPRESSIVE NUMBERS." MACHINERY PETE JOINS US WITH A LOOK AT SOME UNIQUE IRON. AND NEW RESEARCH ON WHETHER SUNSCREEN CAN HELP PREVENT SKIN CANCER.
ONEROUS PROCESS FOR BRINGING NEW PRODUCTS TO THE AG MARKET:
GOOD MORNING I'M CLINTON GRIFFITHS. NEW AND INNOVATIVE PRODUCTS HAVE HELPED TO DRIVE YIELDS AND PRODUCTION INCREASES OVER THE PAST 20 TO 30 YEARS. HOWEVER GETTING THOSE PRODUCTS TO MARKET HERE IN THE U.S. CONTINUES TO GET MORE EXPENSIVE. ACCORDING TO NEW RESEARCHER FROM CROPLIFE INTERNATIONAL.  EVERY CROP PROTECTION PRODUCT THAT REACHES THE MARKET NOW COSTS $286 MILLION DOLLARS AND TAKES 11 YEARS OF RESEARCH AND DEVELOPMENT.  THE REPORT FOUND THAT IN 2014 ALONE, THE INDUSTRY SPENT A TOTAL OF $2.6 BILLION ON INNOVATIONS.  THE COST OF BRINGING A NEW PRODUCT TO MARKET HAS INCREASED 55 PERCENT SINCE THE TURN OF THE CENTURY.
COST RISES DUE TO DIFFICULT PROCESS:
IT ATTRIBUTES THE RISING COST TO INCREASING CHALLENGES AROUND ENVIRONMENTAL SAFETY AND TOXICOLOGY DATA. ALONG WITH REGULATORY DECISION DELAYS. THOSE ADDED FACTORS PUSHING TIME TO MARKET FROM 8 YEARS IN 1995 TO MORE THAN 11. AND WHILE THE CHALLENGES ARE REAL FOR NEW PRODUCTS, OLDER TECHNOLOGY NOW FACING FRESH SCRUTINY.
LABELING DEBATE CONTINUES:
THE DEBATE OVER BIOTECH LABELING CONTINUES IN THE MARKETPLACE, AND IN WASHINGTON. WITH CONGRESS BACK IN SESSION ITS UNKNOWN IF OR HOW SOON THEY'LL BE ABLE TO TAKE UP A NEW LABELING BILL. AGDAY'S MICHELLE ROOK LOOKS AT WHY MUCH OF THE AG INDUSTRY IS SUPPORTING THE NATIONAL VOLUNTARY APPROACH AND WHY TIME IS OF THE ESSENCE.
LABELING COULD COST CONSUMERS:
"STUDIES HAVE SHOWN ITS GONNA COST CONSUMERS MORE THAN $1000 A YEAR HIGHER IN THEIR FOOD COSTS."WITH THE UNCERTAINTY ABOUT BIOTECH LABELING SOME MAJOR FOOD COMPANIES HAVE ALREADY DECIDED TO LABEL PRODUCTS, WHILE OTHERS ARE IN LIMBO.  "YOU KNOW ITS REALLY DIFFICULT TO TELL AT THIS POINT JUST HOW LARGE OF AN IMPACT THAT'S GOING TO HAVE ON THE DAIRY INDUSTRY SPECIFICALLY."
AG INDUSTRY IN FAVOR OF VOLUNTARY LABELING:
MOST OF THE AG INDUSTRY SUPPORTS A NATIONAL VOLUNTARY BIOTECH LABELING APPROACH BECAUSE FDA SAYS BIOTECH PRODUCTS ARE SAFE AND STATE MANDATES COULD THREATEN THIS TECHNOLOGY THAT IS SO IMPORTANT OUT HERE ON THE FARM. "THIS REGULATORY MISHMASH THAT COULD BE CREATED IS GOING TO UNDERMINE NOT ONLY THE ABILITY OF THE FARMERS TO KNOW WHAT'S OUT THERE AND WHAT THEY CAN USE, BUT OF COMPANIES LIKE OURS TO PLAN FOR INNOVATION THAT IS ESSENTIAL TO DEVELOPING THESE NEW TOOLS." A LABELING MANDATE COULD ADDITIONALLY SERVE AS A PLATFORM FOR ACTIVISTS TRYING TO GET RID OF BIOTECHNOLOGY. "THEY'VE MADE THEIR INTENSIONS VERY CLEAR.
HOPE IS FOR SENATE TO FIND COMMON GROUND:
SO THE ONUS IS ON THE SENATE TO FIND COMMON GROUND BETWEEN MANDATORY VERSES VOLUNTARY LABELING INTERESTS. I THINK YOU'LL HAVE HOPEFULLY AT LEAST SOME DEMOCRATS WHO WILL WORK WITH THE MAJORITY OF REPUBLICANS TO TRY AND GET SOMETHING DONE 6 SEC THAT ADDRESSES WHAT WE THINK IS GOING TO BE A VERY SERIOUS ISSUE." OTHERWISE THE UNINTENDED CONSEQUENCES ARE THAT NEARLY EVERY FOOD PRODUCT ON STORE SHELVES COULD BE LABELED, WHICH WOULDN'T BENEFIT ANYONE. I'M MICHELLE ROOK REPORTING FOR AGDAY.
SMART LABEL PROGRAM:
MEANWHILE, THE GROCERY MANUFACTURERS ASSOCIATION IS WORKING ON ALTERNATIVE WAY TO PROVIDE BIOTECH INFORMATION. THEY'RE ROLLING OUT A SMART LABEL PROGRAM TO GIVE CONSUMERS THE INFORMATION THEY WANT. THIS IS A CONCEPT AG SECRETARY TOM VILSACK HAS PUBLICALLY SUPPORTED,BUT HE STILL WANTS IT TO BE MANDATORY. CHANGES TO THE MOST COMMON MUSHROOM IN YOUR SUPERMARKET ARE NOT SUBJECT TO USDA REGULATIONS. AND THAT RULING COULD IMPACT FURTHER DEBATE ON GENETICS IN FOOD PRODUCTION.
ACCORDING TO A REPORT IN "NATURE-DOT-COM", USDA HAS RULED THAT A WHITE BUTTON MUSHROOM -THAT WAS GENETICALLY MODIFIED USING THE CRISPR METHOD -IS NOT SUBJECT TO USDA REGULATIONS. GENETICS IN THE WHITE BUTTON WERE TWEAKED SO THAT DON'T TURN BROWN AS QUICKLY. A RESEARCHER DELETED GENES THAT CREATE AN ENZYME THAT TURNS FRESH PRODUCE BROWN. SINCE THE RESEARCHER DID NOT INTRODUCE FOREIGN GENES, IT DOES NOT FALL UNDER USDA JURISDICTION.
FARMERS TO GET SLIGHT BREAK IN INPUT COST:
AS FARMERS ROLL FULL SPEED INTO THE SPRING SEASON, THEY'RE CATCHING A LITTLE BREAK ON INPUT COSTS. NEW ANALYSIS OF CROP INPUT PRICES SHOWS FARMERS SAVING ROUGHLY 17 DOLLARS AN ACRE THIS YEAR. ANALYSTS WITH GRANULAR SAY THAT INCLUDES CHEMICALS, FERTILIZER AND SEED. IT HAS BEEN A 9% DROP, ON AVERAGE, ACROSS ALL CHEMICALS AND AN EIGHT PERCENT DROP ON FERTILIZER SEED PRICES DOWN ONLY ABOUT A 1%"
PITCH TO COTTON PROGRESS:
WE'LL GET AN UPDATE ON COTTON PLANTING PROGRESS LATER TODAY. HOWEVER COTTON PRICES FALLING THE MOST IN SIX WEEKS FRIDAY ON NEWS CHINA IS PREPARING TO OPEN THE FLOODGATES ON IT'S MASSIVE COTTON RESERVES. THE COUNTRY PLANNING TO AUCTION 2 MILLION METRIC TONS OF COTTON MAY THROUGH AUGUST.
CROP COMMENTS:
 CROP COMMENTS IS BROUGHT TO YOU BY RESICORE HERBICIDE FROM DOW AGROSCIENCES.  HELLO CLINTON. BETSY JIBBEN IS OUT IN IOWA REPORTING FOR OUR I-80 PLANTING TOUR. SHE SAYS FARMERS ARE KICKING THE DUST UP NEAR WATERLOO, IOWA. A FARMER TELLING US PLANTING CONDITIONS ARE IDEAL WITH ADEQUATE MOISTURE AND WARM WEATHER IN THE 70S! AND FROM THE ARKANSAS "NASS" OFFICE, A CROP REPORTER IN RANDOLPH COUNTY SAYS ROW CROP FARMERS BACK IN THE FIELD WORKING IN FIELDS THAT ARE DRY ENOUGH. BUT HERE ARE STILL LOTS OF FIELDS TOO WET TO PREPARE FOR PLANTING. COOL SEASON FORAGES MADE MODERATE GROWTH DURING THE WEEK. AND IN GEORGIA, BLUEBERRY CROPS ARE VARIED IN CONDITION. 55-PERCENT IS GOOD TO EXCELLENT, BUT 45-PERCENT IS JUST FAIR. GEORGIA IS NUMBER TWO BEHIND MICHIGAN IN CULTIVATED BLUEBERRIES.
TEASE:
COMING UP IN JUST A FEW MINUTES WE'RE GOING TO TAKE A LOOK AT YOUR FORECAST FOR THE WEEK AHEAD BUT NOW HERE ARE SOME HOMETOWN TEMPERATURES. WHEN WE COME BACK, WE'LL TALK ABOUT SPRING PLANTING AND LAST WEEK'S MOVE IN GRAIN MARKETS. PLUS MACHINERY PETE. LOVE 'EM OR HATE 'EM, AUCTION PRICES ARE REALLY RISING ON THE OLD INTERNATIONAL ANT EATER TWO PLUS TWO TRACTORS. STICK AROUND AND WE WILL TALK ABOUT IT. YOU KNOW SUNSCREENS CAN KEEP YOU FROM BURNING, BUT CAN THEY ACTUALLY KEEP YOU FROM GETTING SKIN CANCER? THE RESULTS OF A SURPRISING NEW STUDY, LATER ON IN THE COUNTRY.
SENATE VOTES TO RE-AUTHORIZE CFTC:
THE U.S. SENATE AGRICULTURE COMMITTEE VOTING LAST WEEK 11 TO 9 ALONG PARTY LINES TO REAUTHORIZE THE COMMODITY FUTURES TRADING COMMISSION FOR FIVE YEARS. COMMITTEE CHAIRMAN PAT ROBERTS SAYS THE BILL WILL PROVIDE RELIEF FROM REGULATION TO THE END USERS OF FINANCIAL INSTRUMENTS REGULATED BY THE CFTC. THE HOUSE PASSED ITS VERSION OF THE CFTC AUTHORIZATION LAST YEAR.
FROM THE FLOOR OF THE CME:
SPEAKING OF TRADE, LAST WEEK'S MARKETS SAW STRONG MOVES IN GRAINS. LETS GET THE WRAP UP OF THE WEEK FROM THE FLOOR OF THE CME IN CHICAGO. WELL LETS TAKE A LOOK AT THE GRAIN MARKET. WE'RE SEEING A NICE STEADY INCREASE ALL ACROSS THE BOARD. ESPECIALLY IN THE SOYBEANS WHICH EVERYBODY THOUGHT WAS TECHNICALLY OVER BOUGHT AND ITS CERTAINLY IS BUT THEY'RE FUND TRADERS AND STILL HANGING ON. IN FACT WE'RE SEEING IT UP 7-9 CENTS THROUGHOUT THE MAJORITY OF THE TRADING DAY TODAY. WE TAKE A LOOK AT CORN THE CORN HAS BEEN ON THE STEADY INCREASE ALSO. WE'RE STARTING TO SEE A LOT OF TECHNICAL FUND TRADERS GETTING IN THERE RIGHT NOW. AND THEY'RE GOING TO KEEP THAT PRICE ELEVATED WE'RE SEEING THE PLANTING COMING ALONG AT A NICE STEADY PACE RIGHT NOW AND WE'RE ALSO LOOKING AT THE WHEAT. WHEAT RIGHT NOW THE DEMAND IS SLOWLY STARTING TO PICK UP A LITTLE BIT. LETS SWITCH OVER TO HOGS RIGHT NOW.  THIS IS GARY KOZLOWSKI, FARR FINANCIAL COMING TO YOU FROM THE CME GROUP.
AGRIBUSINESS:
HERE AT THE AGRIBUSINESS DESK TODAY. WE HAVE PETE MEYER PIRA ENERGY JOINING US. PETE WE'VE BEEN WATCHING SPRING PLANTING. IT HASN'T REALLY SHOWED UP ON ANY OF THE PROGRESS REPORTS YET BUT WE KNOW GUYS ARE IN THE FIELD MOVING FAST. MEANWHILE BACK ON THE MARKETS WE'VE SEEN A LITTLE BIT OF STRENGTH THERE. YEAH I'VE DRIVEN ABOUT 2000 MILES IN THE LAST 10 DAYS AND MOSTLY EAST OF THE MISSISSIPPI THEY'RE READY TO GO THEY'RE CHOMPING AT THE BIT. AND THE WEATHER FORECAST LOOKS GOOD SO I THINK WE'RE GOING TO SEE SOME PRETTY IMPRESSIVE NUMBERS. AS FAR AS THE RALLY IS CONCERNED THERE'S JUST A TREMENDOUS AMOUNT OF MONEY FLOWING INTO THE MARKET WHEN YOU LOOK AT OPEN INTEREST DOWN SOYBEANS ITS RECORD OPEN INTEREST OR WAS YESTERDAY AND THE FUNDS HAVE CERTAINLY BEEN ACTIVE IN TRYING TO MOVE THE MARKET UP. THEY DIDN'T GET ANY LOVE DOWN BELOW 8.50 I GUESS THEY'RE LOOKING FOR SOME LOVE ABOVE 10 BUCKS.
NATIONAL WEATHER:
WELCOME BACK TO AGDAY. CINDI CLAWSON IN FOR MIKE HOFFMAN TODAY. AND CINDI WE LOOK AT RAINFALL OVER THE LAST WEEK, LAST 7 DAYS, AND WE THOUGHT WE'D GET A LOT IN WHEAT COUNTRY IN KANSAS. BUT IT REALLY DIDN'T SHOW UP. NO. IT WENT A BIT FURTHER TO THE SOUTH. AND I KNOW WE COULD REALLY USE SOME OF THAT MOISTURE IN WHEAT COUNTRY. BUT BOY DID WE GET A LOT IN THE SOUTHERN PLAINS, EXCUSE ME, THE GULF COAST STATES. LET'S TAKE A LOOK. YOU CAN REALLY SEE THE BULK OF THE MOISTURE RIGHT HERE IN THE GULF COAST STATES, ESP IN LOUISIANA, MISS AND GETTING INTO ALABAMA AS WELL.
REGIONAL WEATHER:
THAT'S A LOOK AT YOUR NATIONAL FORECAST, NOW LET'S LOOK AT THE WEATHER WHERE YOU LIVE. FOREST PARK, MONTANA LOOK FOR MOSTLY SUNNY SKIES TODAY WITH A HIGH AROUND 64 DEGREES, SANDY POINT, OKLAHOMA, SHADY POINT OKLAHOMA, SHOWERS AND THUNDERSTORMS, 70 DEGREES. AND SUNNY AND WARMER IN BARNWELL, SOUTH CAROLINA.
TEASE:
MACHINERY PETE JOINS US IN TWO MINUTES -AND HE'S TALKING ABOUT RENEWED INTEREST IN A TRACTOR YOU MAY KNOW AS AN "ANT-EATER". AND IF YOU WORK OUTDOORS, THE RISK OF SKIN CANCER IS INCREDIBLY HIGH. DO YOU WEAR SUNSCREEN? NEW RESEARCH WILL EXPLAIN WHY YOU SHOULD.
MACHINERY PETE:
BACK IN THE 80'S, A NEW LOOK STARTED TO CROSS AMERICA'S FIELDS. NICKNAMES ENSUED -LIKE ANT-EATER, ALLIGATORS, EVEN SNOOPY. MACHINERY PETE LOOKS AT THE CURRENT DEMAND FOR THE I-H-C TWO-PLUSTWO. ONE OF THE HOTTEST THINGS THAT I SEE OUT THERE ON THE USED MARKET, FOLKS, ARE THE OLD INTERNATIONAL ANT EATERS OR SNOOPIES--THE OLD TWO PLUS TWOS FROM THE EARLY 1980S. NOW, HERE IS A PICTURE OF THE 1981 MODEL 6788, SOLD ON AN AUCTION APRIL 8, UP IN NORTHEAST MICHIGAN, HAD 2,600 HOURS ON A REMANUFACTURED ENGINE, SOLD FOR $22,000, SECOND HIGHEST AUCTION PRICE THAT I HAVE EVER SEEN.
TEASE:
SUNSCREEN CAN PROTECT YOU FROM GETTING A SUNBURN. BUT CAN IT ACTUALLY PROTECT YOU FROM GETTING A SKIN CANCER? THE LATEST RESEARCH -WHEN AGDAY CONTINUES.
IN THE COUNTRY:
PEOPLE WHO WORK THE LAND FOR LONG HOURS -ESPECIALLY FARMERS AND RANCHERS -ARE AT RISK FOR NON-MELANOMA SKIN CANCER DUE TO THE CONTINUOUS EXPOSURE TO U-V RAYS OF THE SUN. IT'S BEEN SHOWN THAT SUNCREEN CAN LOWER YOUR RISK OF GETTING A SUNBURN, AND NOW THERE'S PROOF IT CAN ALSO PROTECT YOU AGAINST SKIN CANCER. RESEARCHERS HAVE COMPLETED THE FIRST TEST OF SUNSCREEN'S ABILITY TO PROTECT AGAINST MELANOMA. AND WITH THE RESULT OF THE STUDY, HERE'S OHIO STATE'S CLARK POWELL. MOST OF US USE SUNSCREENS KNOWING THEY CAN HELP KEEP OUR SKIN FROM BURNING AND ASSUMING THEY PROTECT US FROM MUCH MORE. WHAT MANY DON'T REALIZE, HOWEVER, IS THE VAST MAJORITY OF SUNSCREENS ARE COSMETIC PRODUCTS WHICH MEANS GOVERNMENT REGULATIONS ONLY REQUIRE THEM TO BE SAFE TO USE. AT THE OHIO STATE UNIVERSITY COMPREHENSIVE CANCER CENTER, THIS IS CLARK POWELL REPORTING.
CLOSING:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR CINDI CLAWSON. I'M CLINTON GRIFFITHS. HAVE A GREAT DAY.
PROMO:
COMING UP TUESDAY ON AGDAY -OUR PARTNERS AT FARM JOURNAL'S MILK TEAM WILL HAVE THE LATEST NEWS FROM THE DAIRY WORLD. NAOMI BLOHM AND I DISCUSS MILK PRICES. AND KANSAS WHEAT GROWERS FACING SOME TOUGH CHALLENGES AS DISEASE APPEARS IN THE CROP. WATCH US DAILY ON AGDAY.

 

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