AgDay Daily Recap -April 27, 2016

April 27, 2016 02:57 AM
 

TODAY ON AGDAY
APRIL 27, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY EYES ON SOUTH AMERICAN CHALLENGES WHILE FARMERS HERE AT HOME PRESS ON THE GAS... I'M BETSY JIBBEN, FARMERS IN NORTHERN ILLINOIS ARE READY TO GET THE PLANTERS ROLLING AGAIN. WE'LL HAVE THAT STORY AHEAD ON AGDAY. IN AGRIBUSINESS...MANAGING THESE NEW MARKET OPPORTUNITIES. WELL, THE RALLY IN APRIL IS VERY A-TYPICAL--THIS IS NOT A TYPICAL RALLY, SO EVERYBODY IS THINKING, WELL IF WE DO THIS IN APRIL, WHAT ARE WE GOING TO DO IN JUNE AND JULY?  AN EL NINO WINTER KEEPS FUEL CONSUMPTION DOWN. AND PICKIN TIME FOR THESE AUSTRALIAN PUMPKINS...ALTHOUGH THE HARVEST MAY BE BETTER LIVES FOR THE YOUNG PEOPLE HELPING DO THE WORK.
HEAVY RAINS BRING PRICE RALLY:
GOOD MORNING I'M CLINTON GRIFFITHS.  THE EARLY SEASON RALLY CONTINUES TO RAISE EYEBROWS AS THE NATION'S FARMERS RUSH TO GET ROW CROPS IN THE GROUND. PART OF THAT PRICE RALLY, DUE TO THIS....HEAVY RAINS IN PARTS OF ARGENTINA AT A CRITICAL TIME FOR FARMERS. SOYBEANS ARE SET TO COME OUT OF THE FIELD, BUT UNTIL JUST THE LAST FEW DAYS RAINS HAVE PUSH HARVEST ON HOLD.  THOUSANDS OF PEOPLE HAVE LOST THEIR HOMES AND TENS OF THOUSANDS HAVE HAD TO BE EVACUATED...AS RIVERS AND WATER CONTINUE TO RISE.
FIELDS ARE A SOGGY MESS:
TAKE A LOOK AT THESE PICTURES FROM TWITTER USER --PALABRA RURAL--THEY  WERE TAKEN IN FARM FIELDS IN THE NORTH CENTRAL PART OF THE COUNTRY-OR --ABOUT 5 HOURS NORTH AND WEST OF BUENOS AIRES. YOU CAN SEE SOYBEANS ARE READY TO HARVEST BUT FIELDS ARE A SOGGY MESS. EQUIPMENT IS STUCK AND IN MANY CASES BURIED UP TO THE AXLE IN MUD. SOME ESTIMATES SAY PRODUCTION COULD BE BETWEEN 3 AND 5 MILLION TONS LESS DUE TO THESE HEAVY RAINS.
 PRESSURE ON BRAZILIAN GRAIN:
MEANWHILE, DROUGHT AND A STORMY POLITICAL CLIMATE PRESSURING GRAIN MARKETS IN BRAZIL. ADD TO IT, LARGE EXPORTS, AND LOCAL LIVESTOCK GROWERS ARE FEELING THE PICH. THAT'S ADDING TO SPECULATION THAT BRAZIL HAS OR MAY START BUYING CORN FROM THE U.S. IF IT HAPPENS IT WOULD BE THE FIRST PURCHASES TO GO TO BRAZIL IN TWO DECADES. LAST WEEK THE WORLD'S NUMBER 2 CORN EXPORTER ENDED IMPORT TAXES ON CORN FROM COUNTRIES OUTSIDE ITS LOCAL TRADE BLOCK IN AN EFFORT TO CURB RECORD DOMESTIC PRICES AND BOOST SUPPLIES.
I-80 PLANTING TOUR:
ILLINOIS, IOWA AND MINNESOTA FARMERS MAKING BIG HEADWAY LAST WEEK WITH CORN PLANTING. IN ILLINOIS 42-PERCENT PLANTED. THAT'S UP 30 POINTS FROM THE LAST REPORT. AND AHEAD OF THE 25-PERCENT FIVE YEAR AVERAGE.  IOWA WITH SIMILAR GAINS. 40-PERCENT AS OF MONDAY. 13-PERCENT A WEEK AGO. AND WELL AHEAD OF THE FIVE YEAR AVERAGE OF NINE PERCENT PLANTED. MINNESOTA FARMERS ARE APPROACHING 50-PERCENT PLANTED WITH THEIR CORN. THAT'S A 32-POINT JUMP IN ONE WEEK'S TIME. THE FIVE YEAR AVERAGE IS ELEVEN PERCENT PLANTED. SOYBEAN PLANTING IS NOW STARTING TO RAMP-UP. IN THE 18-TOP GROWING SOY STATES, THREE PERCENT IS PLANTED. IN ILLINOIS, TWO PERCENT IS PLANTED WHICH IS RIGHT ON AVERAGE PACE.
FROM THE FIELDS ON NORTHERN ILLINOIS:
IN TODAY'S I-80 PLANTING TOUR STOP, NATIONAL REPORTER BETSY JIBBEN HAS AN UPDATE ON TWO FARMERS IN NORTHERN ILLINOIS. "FARMERS IN NORTHERN ILLINOIS HAD A PRETTY FAST START TO PLANTING WITH A LOT OF PROGRESS. BUT AFTER A BRIEF RAIN DELAY, FARMERS ARE PREPARING TO PICK UP WHERE THEY LEFT OFF,">
SHORT RAIN DELAYS DURING THE HEAT OF PLANTING… "IT'S 'HALF-TIME' TIME. WE'RE REGROUPING,"MAY HAVE KEPT SOME SEEDS IN THE PLANTER...<SEED SHOWING IN MACHINERY WITH BUT, THEY DIDN'T STAY THERE FOR LONG. "WE'VE HAD A PRETTY HARD RUN THE LAST FEW DAYS, A COUPLE OF SHORT NIGHTS BUT IT'S WHAT WE DO," THAT STATEMENT IS ALL TOO TRUE FOR STEVE PITSTICK. HE'S WORKING THROUGH THE NIGHT TO MAKE SURE HIS SEED GETS IN THE GROUND WITH THIS YEAR'S VARIABLE WEATHER. "A FARMER NEVER WANTS TO BE RAINED OUT WITH A FIELD PARTIALLY DONE. SO, I GOT UP AT 3:30 A.M. AND FINISHED THE FIELD, THEN, IT DIDN'T RAIN," THANKS BETSY. BOTH FARMERS SAY THEY'RE FOCUSING ON MAXIMIZING BUSHELS THIS YEAR. THAT MEANS NOT CUTTING BACK ON INPUTS OR RISKING FERTILITY DUE TO LOWER PRICES.
CROP COMMENTS:
FARMERS AROUND THE CORN BELT ARE EXPERIENCING SOME SOGGY CONDITIONS. MIKE HOFFMAN HAS AN UPDATE. GOOD MORNING, CLINTON. LET'S START OFF WITH SOME WET CONDITIONS IN SOUTHEAST SOUTH DAKOTA. THE AREA RECEIVED RAIN THIS WEEK AND THERE'S A POTENTIAL FOR MORE IN THE FORECAST. THIS FARMER SAYS, "PLANTING IN APRIL IS OVER. I HOPE MAY WEATHER TREATS US BETTER." USDA SAYS 6 PERCENT OF CORN ACRES ARE PLANTED IN THE STATE.  MOVING OVER TO SAC COUNTY, IOWA.

TEASE:
NEXT ON AGDAY -BOB UTTERBACK JOINS ME AT THE AGRIBUSINESS DESK. HE'LL HAVE SOME ADVICE ON HANDLING THESE CURRENT GRAIN MARKETS. PLUS, HE EXPLAINS WHY IT'S NOT TOO EARLY TO THINK 2017. PLUS, IT'S PUMPKIN PICKING TIME IN AUSTRALIA. WE'LL VISIT ONE FARM WHICH FOCUSES NOT ONLY ON THE CROP....BUT THE LIFE LESSONS FOR KIDS IN TROUBLE.
FROM THE FLOOR OF THE CME:
IN AGRIBUSINESS MARKETS SPENDING MORE TIME IN THE GREEN ON TUESDAY.  LETS SEE HOW THINGS CLOSED FROM THE FLOOR OF THE CME IN CHICAGO. FIRST OF ALL, SOYBEANS, AGAIN, WE'VE SEEN SUCH WILD VOLATILITY IN THESE MARKETS. WE'VE SEEN 22 CENT MOVES TODAY IN THE MARKET ALONE. WE'VE SEEN THAT BRAZIL IS PLAYING A KEY ROLE IN THIS WITH THE WEATHER CONDITIONS, EXPORT NEWS HAS NOT BEEN ALL THAT GOOD ON THE BEANS THEMSELVES BUT YET THE DEMAND HAS BEEN THERE. THE FUND TRADERS ARE BUYING IT AGAIN. THEY ARE SELLING IT OFF AND BUYING IT BACK IN AGAIN. LET'S GO INTO CORN. WE LOOK AT CORN NOW. PLANTING IS OVER 30 PERCENT DONE.
THIS IS GARY KOZLOWSKI, FARR FINANCIAL COMING TO YOU FROM THE CME FLOOR.
AGRIBUSINESS:
JOINING ME AT THE AGRIBUSINESS DESK I HAVE BOB UTTERBACK OF UTTERBACK MARKETING. BOB LET'S TALK ABOUT LAST WEEK'S PRICE ACTION. YOU KNOW, FOR SOME FOLKS OUT THERE WHO ARE WORRIED ABOUT THEIR RENT, AND WHAT THEY HAVE IN THE BIN AND SOME OF THEIR BASIS SITUATION OUT THERE, MAYBE THEY LEARNED SOMETHING LAST WEEK.> RIGHT, I DID A LOT OF WINTER MEETINGS THIS YEAR AND THE CONCERN WAS CORN'S BELOW THE COST OF PRODUCTION, I'M IN MULTI-YEAR AGREEMENTS, I CAN'T AFFORD CONTRACT, I CAN'T DO ANYTHING, I'M GOING TO LOCK IN THE LOSS AND HOPEFULLY I GET RESCUED. WELL, THE RALLY IN APRIL IS VERY A-TYPICAL--THIS IS NOT A TYPICAL RALLY, SO EVERYBODY IS THINKING, WELL IF WE DO THIS IN APRIL, WHAT ARE WE GOING TO DO IN JUNE AND JULY?  ALRIGHT, WE WILL BE BACK WITH MORE AGDAY IN JUST A MINUTE. TO TALK WITH BOB ONE ON ONE, CALL UTTERBACK MARKETING SERVICES TOLL FREE AT 800-832-1488. GET THE ROOTS YOUR CROPS NEED, BY GETTING RADIATE FIRST. VISIT LOVELAND PRODUCTS DOT COME SLASH RADIATE. SEE YOUR CPS DEALER TODAY.
NATIONAL WEATHER:
WELCOME BACK TO AGDAY WITH METEOROLOGIST MIKE HOFFMAN. MIKE, WE'VE BEEN KIND OF WATCHING SOME STORMS POP UP HERE OVER THE LAST FEW DAYS. WHAT DO YOU EXPECT THESE FRONTS TO DO AS WE GET THROUGH THE WEEK? IT LOOKS LIKE THE ONE IN THE MIDDLE OF THE COUNTRY OBVIOUSLY IS GOING TO START TO MOVE EASTWARD. IT WON'T BE AS SEVERE AS IT WAS YESTERDAY THE WAY IT LOOKS RIGHT NOW. NOW YOU WILL NOTICE YOUR COMPUTER MODELS NOT SHOWING CLOUDS AND PRECIPITATION THIS MORNING. YOU CAN FIGURE ALONG THAT STATIONARY FRONT THAT THERE'S AREAS OF RAIN, A FEW THUNDERSTORMS AHEAD OF THE FRONT IN TEXAS AND OKLAHOMA ALTHOUGH THOSE HAVE CALMED DOWN AND MOISTURE OUT WEST AS WELL.
REGIONAL WEATHER:
NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS. FIRST OF ALL, FOR GLASGOW, MONTANA, IT'S CLOUDY AND CHILLY, A BIT OF RAIN THERE. THE HIGH TEMPERATURE IS 47. LITTLE ROCK, ARKANSAS, IS WARM AND HUMID. A COUPLE OF HEAVY AND SEVERE THUNDERSTORMS WITH A HIGH OF 83. AND TRENTON, NEW JERSEY IS PARTLY SUNNY AND MUCH COOLER. THE HIGH IS AROUND 63 THIS AFTERNOON. THANKS MIKE.
TEASE:
 FOR MANY PEOPLE IN THE SNOW-BELT, WINTER WAS MILDER. AND THE FURNACE DIDN'T SEEM TO RUN AS LONG. WE'LL LOOK AT THOSE FUEL SAVINGS JUST AHEAD. AND CITY KIDS ARE LEARNING HOW HARD WORK ON THE FARM CAN GIVE THEM A BADLY-NEEDED ATTITUDE ADJUSTMENT. AND IT MAY JUST PUT THEM ON A MORE SUCCESSFUL PATH TO ADULTHOOD.
MILD WINTER MEANS LESS SPENT ON HEAT BILLS:
YOUR WALLET GOT A BIT OF BREAK THIS WINTER. ABOVE-NORMAL TEMPERATURES DURING THE 2015-16 WINTER WERE A KEY FACTOR IN LOWERING HEATING DEMAND AND WINTER FUEL EXPENDITURES. THE ENERGY INFORMATION ADMINSTRATION SAYS COMPARED WITH THE 2014-15 WINTER, NATURAL GAS PRICES WERE NEARLY SIX PERCENT LOWER. NATURAL GAS HEATS NEARLY HALF OF ALL U-S HOMES.
HEATING OIL DEMAND DECREASED BY 45-PERCENT, PROPANE WAS DOWN 16%. WINTER TEMPS WERE 15-PERCENT HIGHER MOSTLY DUE TO THE STRONG EL NINO.
DELAY ON GMO LABELING:
THE VERMONT RETAIL AND GROCERS ASSOCIATION WANTS THE STATE TO DELAY ITS GMO LABELING LAW THAT IS SLATED TO START JULY FIRST. THE VERMONT BUSINESS MAGAZINE REPORTING THAT THE ASSOCIATION IS SUPPORTING AN AMENDMENT UNDER CONSIDERATION BY THE VERMONT SENATE--TO DELAY THE LAW UNTIL JULY OF NEXT YEAR.  WHILE EXPRESSING SUPPORT FOR DISCLOSING GMO INFORMATION TO CONSUMERS, THE ASSOCIATION SAYS THERE WILL LIKELY BE SOME INTERRUPTIONS IN SUPPLY THIS SUMMER AS FOOD COMPANIES CHANGE OVER THEIR LABELING TO COMPLY WITH VERMONT'S FIRST IN-THE-NATION-LAW. THE DELAY WOULD ALSO GIVE THE U.S. CONGRESS MORE TIME TO CRAFT A COMPROMISE BETWEEN LAWMAKERS ON A NATIONAL GMO LABELING STANDARD.
TEASE:
UP NEXT, SEE HOW A PUMPKIN PATCH "DOWN UNDER" IS HELPING PUTTING ATRISK YOUNG PEOPLE ON THE RIGHT PATH.

IN THE COUNTRY:
A YOUTH PROGRAM IN THE AUSTRALIAN STATE OF NEW SOUTH WALES IS TAKING TROUBLED YOUNG PEOPLE OFF THE STREET AND HELPING TO CHANGE THEIR LIVES BY PUTTING THEM TO WORK ON A FARM. THE PARTICIPANTS PICK VEGETABLES AND ALSO TAKE PART IN A CHARITY PUMPKIN RUN DELIVERING FOOD TO THE NEEDY...AND PROVIDING SEEDS OF OPPORTUNITY. IT'S PUMPKIN HARVEST TIME IN NEW SOUTH WALES. AT THIS FARM IT'S NOT ONLY ABOUT THE CROP...BUT GIVING AT-RISK TEENAGERS A SECOND CHANCE.
CLOSING:
ONCE AGAIN WE SEE LIFE ON THE FARM IS HELPING PROVIDE GUIDANCE AND IMPORTANT LIFE SKILLS. THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR BETSY JIBBEN AND MIKE HOFFMAN. I'M CLINTON GRIFFITHS. HAVE A GREAT DAY. 
PROMO:
I'M CLINTON GRIFFITHS. THURSDAY ON AGDAY - OUR PARTNERS AT  DROVERS WILL HAVE THE LATEST NEWS FROM THE CATTLE SECTOR.   MIKE HOFFMAN WILL LET YOU KNOW WHEN YOU CAN GET BACK IN THE FIELD WITH HIS FARM COUNTRY FORECAST. WATCH US WEEKDAYS HERE ON AGDAY.

 

Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close