AgDay Daily Recap -August 17, 2016

August 17, 2016 02:57 AM
 

TODAY ON AGDAY
AUGUST 17, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY -THE PRESIDENT MAKES A MOVE ON THE TRANS PACIFIC PARTNERSHIP. WHILE RICE GROWERS SEE PRICES HIT A FIVE YEAR HIGH. IN AGRIBUSINESS..JUST WHO IS MAKING MONEY IN AGRICULTURE? WELL AS YOU SEE THE STOCK MARKET AT RECORD HIGHS AND YOU SEEN ANYBODY WHO TOUCHES TWO DOLLAR AND NINETY NINE CENT CASH CORN AND TURNS IT INTO SOMETHING THEY'RE DOING WELL. ITS POMEGRANATE SEASON IN CALIFORNIA. AND THESE KIDS ARE HAVING FUN AND GETTING CREATIVE AT A CAMP THAT HOPES TO SAVE THE HERITAGE SKILL OF QUILT MAKING.
OBAMA MOVES TO PASS TPP BEFORE END OF HIS PRESIDENCY:
GOOD MORNING I'M CLINTON GRIFFITHS. DESPITE THE CAMPAIGN RHETORIC, THE PRESIDENT IS TAKING STEPS TO CLOSE THE TRANS PACIFIC PARTNERSHIP BEFORE HE LEAVES OFFICE. THE WHITE HOUSE IS TELLING CONGRESS IT INTENDS TO SEND IT A BILL THAT WOULD IMPLEMENT THE TRANS-PACIFIC PARTNERSHIP TRADE DEAL SHORTLY AFTER THE NOVEMBER ELECTION. THE MOVE SIGNALS THE SERIOUSNESS OF THE PRESIDENT'S INTENT TO PASS TPP BEFORE HIS TERM ENDS. TELLING CONGRESS NOW SETS IN MOTION A MINIMUM 30-DAY PERIOD BEFORE THE WHITE HOUSE CAN PRESENT CONGRESS WITH THE LEGISLATION. IT ALSO ALLOWS EARLY CONSULTATIONS WITH LAWMAKERS ON REMAINING ISSUES. AMONG THOSE ISSUES ARE U.S. PORK AND DAIRY ACCESS TO OVERSEAS MARKETS.
PRESIDENTIAL CANDIDATES BATTLE OVER IDEA OF TRADE AGREEMENTS:
 MEANWHILE THE TWO LEADING CANDIATES FOR PRESIDENT CONTINUE TO SPAR OVER THE IDEA OF TRADE AND TRADE AGREEMENTS. "WE'RE VERY FOCUSED ON TPP. IT WOULD BE ABSOLUTELY HUGE FOR THE U.S. PORK INDUSTRY. WE THINK IT'S VERY IMPORTANT AT THE PROPER TIME THAT WE GET FULLY ENGAGED WITH THAT. WE DID A LOT OF WORK LAST YEAR IN GETTING TPA OR TRADE PROMOTION AUTHORITY TO THE PRESIDENT. WE WERE SUCCESSFUL WITH THAT. WE THINK WHEN THIS NOMINATION RHETORIC THAT'S GOING ON POLITICALLY THIS SUMMER IS OVER WITH AND PEOPLE SETTLED BACK DOWN TO WHAT'S IMPORTANT FOR THE U.S. ECONOMY WE THINK TRADE WILL COME BACK TO THE FOREFRONT SO WE'RE OPTIMISTIC THAT SOMETIME LATER THIS YEAR OR 2017 WE CAN GET REALLY ENGAGED AND GET TPP PASSED IN THE U.S. CONGRESS."
TRUMP’S AG ADVISORY COMMITTEE REVEALED:
DONALD TRUMP ALSO RELEASING THE LIST PEOPLE ON HIS AGRICULTURAL ADVISORY COMMITTEE. THE 64 MEMBER TEAM INCLUDES PEOPLE LIKE--FORMER USDA AG SECREATRY JOHN BLOCK, IOWA GOVERNOR TERRY BRANDSTAD, AND HOUSE AG COMMITTEE CHAIR MIKE CONAWAY AND LESLIE RUTLEDGE THE CURRENT ATTORNEY GENERAL FOR ARKANSAS. IN A RELEASE, THE CAMPAIGN SAYS THEY HOPE THE GROUP CAN PROVIDE PIONEERING IDEAS TO HELP STRENGTHEN THE NATION'S AG INDUSTRY AND SUPPORT RURAL COMMUNITIES.
EPA DEBATES WHETHER TO REREGISTER ATRAZINE:
AS THE ENVIRONMENTAL PROTECTION AGENCY CONSIDERS THE REREGISTRATION OF ATRAZINE, THE N-C-G-A SAYS IF FARMERS LOSE THAT TOOL IT COULD COST THE CORN INDUSTRY BILLIONS OF DOLLARS E-P-A RELEASED IT'S DRAFT ECOLOGICAL RISK OF ATRAZINE EARLIER THIS SUMMER. IT'S PART OF THE REGULATORY PROCESS TO ALLOW THE USE OF THE HERBICIDE. NCGA SAYS IF THE RECOMMENDATIONS INCLUDED IN THAT DOCUMENT ARE ALLOWED, IT WOULD EFFECTIVELY BAN ATRAZINE.A PUBLIC COMMENT PERIOD IS UNDERWAY...AND WILL REMAIN OPEN UNTIL OCTOBER 4TH, NCGA SAYS WITHOUT ATRAZINE TO HELP CONTROL WEEDS, THE CORN SECTOR COULD LOSE TWO AND A HALF BILLION DOLLARS IN YIELD LOSSES AND INCREASED INPUT COSTS. AS WE MENTIONED EARLIER IN THE WEEK...THE EPA IS INVESTIGATING THE ALLEGED MISUSE OF DICAMBA IN FARM FIELDS. IT SAYS EXTENSION EXPERTS CONTINUE TO REPORT DAMAGE FROM WHAT APPEARS TO BE THE ILLEGAL USE OF DICAMBA IN FIELDS NEAR OR ADJACENT TO DICAMBA RESISTANT COTTON AND SOYBEANS.
SPRING WHEAT HARVEST:
WITH WINTER WHEAT HARVEST ALL BUT FINISHED. ATTENTION NOW TURNS TO SPRING WHEAT HARVEST, AS OF MONDAY ABOUT HALF WAS HARVESTED. IT'S USUALLY AROUND 30PERCENT. OVERALL 66-PERCENT IS GOOD TO EXCELLENT. BUT THE SOUTH DAKOTA CROP IS STRUGGLING. "NASS" SAYS JUST 39-PERCENT IS GOOD TO EXCELLENT, AND 47PERCENT IS JUST FAIR. USDA PEGS THE "ALL WHEAT FORECAST" AT TWO-POINT-THREE BILLION BUSHELS. THAT'S AN INCREASE OF THREE PERCENT FROM JULY. THE NATIONAL AVERAGE YIELD IS 52-POINT-SIX BUSHELS, UP MORE THAN A BUSHEL FROM LAST MONTH. THE BIGGEST GAINS ARE IN WINTER WHEAT. PRODUCTION IS UP 21-PERCENT FROM A YEAR AGO.
GIANT CROP FORCES DOWNWARD PRESSURE ON PRICES:
A GIANT CROP -DOMESTICALLY AND GLOBALLY -CONTINUES TO PUT DOWNWARD  PRESSURE ON PRICES. "WE'RE SEEING EVERY MAJOR WHEAT PRODUCING STATE BOTH SOFT AND HARD IN THE COUNTRY ESTIMATED TO HAVE RECORD YIELDS IN 2016. THIS DOESN'T HELP OVERALL THIS REPORT. WE DO SEE A LITTLE TIGHTENING OF DEMAND. OVERALL STOCKS NOT CHANGED A LOT. BUT IT ADDS TO THIS OVERALL BEARISH PICTURE IN WHEAT." ROBERTS SAY THAT LARGE SUPPLY JUST PILES-ON THE PROBLEMS OF EXPORTING U-S WHEAT WHEN THERE'S AN ABUNDANT GLOBAL SUPPLY.
RICE FUTURES:
RICE FUTURES CLIMBED HIGHER AGAIN TUESDAY AT THE CHICAGO BOARD OF TRADE, REACTING TO THE HISTORIC FLOODING IN LOUISIANA....AND HEAVY RAINFALLS IN ARKANSAS. ARKANSAS IS THE NUMBER ONE RICE PRODUCER. HARVEST IS JUST STARTING IN THAT STATE. BUT IN LOUISIANA -THE NUMBER THREE PRODUCER -IT'S PEAK HARVEST SEASON. AS OF MONDAY 55-PERCENT OF THE STATE'S CROP WAS HARVESTED. UNHARVESTED FIELDS RISK GETTING KNOCKED DOWN. WITHOUT AN ASSESSMENT OF DAMAGE, RICE FUTURES HIT A FIVE YEAR HIGH THIS WEEK. " WITH 30 INCH RAINS AND FLOODING THERE'S A LEGITIMATE FEAR THAT A SIGNIFICANT PART OF THE CROP NOT HARVESTED WILL BE LOST."PRIOR TO THIS WEATHER EVENT, 62-PERCENT OF ARKANSAS RICE, 57-PERCENTOF LOUISIANA RICE, AND 68-PERCENT OF TEXAS RICE CROPS ARE GOOD TO EXCELLENT.
CROP COMMENTS:
STORMS CHARGED-UP THROUGH THE MIDWEST MONDAY, SPAWNING AT LEAST ONE TORNADO NEAR INDIANAPOLIS INDIANA. THE TWISTER DAMAGED SEVERAL HOMES AND BARNS IN HENDRICKS COUNTY. YOU CAN SEE THIS BARN WAS HIT. IT WAS STORING FARM EQUIPMENT. FORECASTERS WITH THE NATIONAL WEATHER SERVICE SAY THE STORM WAS ONE LONG TRACK AND IT'S LIKELY THAT THE SAME FUNNEL CLOUD KEPT DIPPING OUT OF THE SKY AND TOUCHING DOWN. THAT STORM GENERATED NOT ONLY FUNNEL CLOUDS BUT INTENSE RAIN. NORTHERN INDIANA HIT A RECORD ON DAILY RAINFALL TOTALS. MIKE HOFFMAN HAS DETAILS IN THE AGDAY WEATHER-CENTER. MIKE. GOOD MORNING CLINTON. ANY SIGNS OF DROUGHT IN NORTHERN INDIANA HAVE NOW BEEN WASHED AWAY AFTER RECORD SETTING RAINFALL HIT ON MONDAY. SOUTH BEND INDIANA BROKE A RECORD WITH SEVEN-POINT-69 INCHES OF RAIN. NOT ONLY IS THAT A RECORD FOR THAT DATE, BUT IT'S THE WETTEST DAY EVER -WITH RECORDS GOING BACK TO 1894.
TEASE:
WHEN WE COME BACK, TOMMY GRISAFI JOINS ME AT THE AGRIBUSINESS DESK TO DISCUSS WHO'S ACTUALLY MAKING MONEY IN AG THIS YEAR AND WHAT THEY NEED TO BE THINKING ABOUT. AND LATER THESE TENNESSEE 4-HER'S ARE ENJOYING THEIR TIME AT CAMP-ONLY THIS EVENT ISN'T ABOUT ARCHERY OR KAYAKING--IT'S ABOUT COLORFUL QUILTING.
AGRIBUSINESS:
HERE AT THE AGRIBUSINESS DESK WE HAVE TOMMY GRISAFI ADVACED TRADING. TOMMY AS WE LOOK ACROSS THE ENTIRE AG INDUSTRY THE ENTIRE AG SECTOR I THINK THIS YEAR KIND OF THE BIG QUESTION IS WHO'S MAKING MONEY IN AGRICULTURE THIS YEAR WE KNOW THAT THE HOG FOLKS DID FOR A LITTLE WHILE THERE'S BEEN A FEW LITTLE BLIPS HERE AND THERE ON THE RADAR BUT OVERALL BOY IT'S BEEN TOUGH. YEAH YOU KNOW THIS YEAR IN PARTICULAR IN CORN YOU HAD BETWEEN FIVE AND FIFTEEN DAYS FOR THE AVERAGE FARMER TO SELL AT ABOVE OR PROTECT OR PUT IN A FLOOR AS WE LIKE TO SAY ABOVE THEIR COST PRODUCTION. OBVIOUSLY THE MARKET DOESN'T CARE WITH THE FARMERS COST OF PRODUCTION BECAUSE WE'RE GOING TO SPEND THREE HUNDRED AND SOME DAYS BELOW IT OR POTENTIALLY BEANS DIFFERENT STORY WE'VE PROBABLY SPENT FIFTY TO SEVENTY DAYS ABOVE COST PRODUCTION WE MAYBE WERE NEVER THERE ALL GROWING SEASON. SO WHO'S MAKING MONEY IN AG?
NATIONAL WEATHER:
"WELCOME BACK TO AGDAY HERE WITH METEOROLOGIST MIKE HOFFMAN. MIKE THIS IS THE OLD FEAST OR FAMINE MAP  I BELIEVE " RIGHT. NO KIDDING. YOU GOT WAY TOO MUCH RAIN OR YOU DIDN'T GET IT AND YOU REALLY NEED IT. ABSOLUTELY WE SHOWED YOU THIS YESTERDAY BUT WE'VE ADDED SOME IN OF THE GREAT LAKES AND PARTS OF NEW ENGLAND OVER THE LAST TWENTY FOUR HOURS BUT THE ONE OF THE THINGS I WANT TO POINT OUT IS THE MIX THE MISSED AREA NORTHERN ALABAMA NORTHERN GEORGIA " AREAS THAT HAVE SEVERE DROUGHT RIGHT NOW. SO THE AREAS THAT GOT TOO MUCH OBVIOUSLY THE GULF COAST AND THEN ONCE THAT MOISTURE CAME NORTHEASTWARD THAT YOU CAN SEE EXACTLY WHERE IT WENT. IT WENT ALL AROUND THE AREAS THAT ARE VERY VERY DRY UNFORTUNATELY. SO TODAY WE ARE LOOKING AT A STATIONARY FRONT STALLING OUT ACROSS THE TENNESSEE VALLEY CENTRAL MISSISSIPPI VALLEY " INTO TEXAS " "THAT WILL BE THE FOCUS FOR SOME SHOWERS AND THUNDERSTORMS. WE'RE NOT TALKING WIDESPREAD TROPICAL RAINS ANYWHERE ALONG THIS FRONT "
REGIONAL WEATHER:
 THAT'S A LOOK ACROSS THE COUNTRY NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS FIRST OF ALL FOR SANDPOINT IDAHO PARTLY SUNNY PLEASANTLY WARM HIGH OF EIGHTY SEVEN DEGREES. MUSKOGEE " OKLAHOMA A MIX OF SUN AND CLOUDS AND HUMID. HIGH OF EIGHTY EIGHT. AND FINALLY SALYERSVILLE KENTUCKY CLOUDS AND HUMID A SHOWER THUNDERSTORM LIKELY HIGH OF EIGHTY ONE
TEASE:
OUR PARTNERS AT THE PACKER JOIN US NEXT WITH AN UPDATE FROM THE WORLD OF PRODUCE. AND LATER, KEEPING A TRADITION ALIVE THANKS TO QUILT CAMP IN TENNESSEE. THAT STORY TODAY ON IN THE COUNTRY.
PACKER TV:
FROM THE PACKER TV, WHILE ROW CROPPERS WERE WATCHING SUPPLY DEMAND NUMBERS FRIDAY, USDA ALSO RELEASING IT'S LATEST CRANBERRY CROP EXPECTATIONS. IT'S EXPECTING NEARLY 8 POINT 6 (8.59) MILLION BARRELS THIS YEAR. THAT'S UP SLIGHTLY FROM 2015. GROWERS IN WISCONSIN HAVE HAD A FEW ISOLATED WEATHER HICCUPS BUT USDA SAYS OVER ALL IT'S BEEN A FAVORABLE SEASON. HOWEVER, THE NORTHEASTERN STATES ARE STRUGGLING WITH DROUGHT AND DRY WEATHER. MASSACHUSETTS THE NATION'S SECOND LARGEST GROWER BEHIND WISCONSIN EXPECTS ROUGHLY 280 MILLION FEWER BARRELS THIS YEAR COMPARED TO LAST.
TEASE:
NEXT -A SPECIAL CAMP FOR THOSE WITH NIMBLE FINGERS. " I'M CHARLES DENNEY. IT'S 4H CAMPING TIME. PACK YOUR BATHING SUIT BUT ALSO YOUR NEEDLE AND THREAD. WE'RE QUILTING AT 4H CAMP....WITH A PATRIOTIC FLAIR, COMING UP ON AGDAY."
IN THE COUNTRY:
SOME TENNESSEE 4-HERS ARE LEARNING A HERITAGE SKILL THAT KEEPS A TRADITION ALIVE. THE YOUNGSTERS ATTENDED "QUILT CAMP" WHERE THEY IMPROVED THEIR SEWING SKILLS AND PRODUCED SOME BEAUTIFULLY CREATIVE WORK. AND AS CHARLES DENNEY REPORTS, THEIR WORK ALSO INCLUDED A PATRIOTIC FLAIR. COMBINE FOCUS, DETERMINATION AND A STEADY HAND, AND YOU'VE GOT THE SKILLS NEEDED FOR QUILTING. THAT'S WHAT THESE YOUNG LADIES ARE LEARNING, PART OF A 4-H QUILTING CAMP THIS SUMMER IN GREENEVILLE. THEY SEW BY HAND, AND BY MACHINE. CAMPERS LIKE AUDREY NIDIFFER SAY QUILTING IS PLENTY CHALLENGING.  THIS IS CHARLES DENNEY REPORTING.
CLOSING:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR MIKE HOFFMAN, AND ALL OF US AT AGDAY. I'M CLINTON GRIFFITHS. HAVE A GREAT DAY.
PROMO:
I'M CLINTON GRIFFITHS. THURSDAY ON AGDAY - DESPITE A BIG CROP, SOYBEAN DEMAND MAY KEEP PRICES STRONG. WE'LL TAKE A CLOSER LOOK IN ANALYSIS. PLUS, WHAT ROLE DOES SUGAR PLAY IN THE CONTENTIOUS TRANS PACIFIC PARTNERSHIP?  WATCH US WEEKDAYS ON AGDAY.
 

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