AgDay Daily Recap -July 12, 2016

July 12, 2016 02:57 AM
 

TODAY ON AGDAY
JULY 12, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY -A CHECK OF CROP PROGRESS AS MARKETS PREPARE FOR ANOTHER REPORT FROM USDA. CANADA IS DEALING WITH ANOTHER CASE OF AVIAN FLU. IN AGRIBUSINESS...THE IMPACT OF WEATHER IN MARKETS. AND YOU KNOW WE’VE HAD HUGE FLOODS HERE AND WE SEE HOW THAT GOES ON YEILDS IT HURTS SOME OF IT BUT WHEN IT’S WET YOU GENERALLY DO OK IDAHO AND NEW YORK BATTLE FOR DAIRY MARKET SHARE. AND KIDS GETTING THEIR HANDS DIRTY LEARNING ABOUT NATURE.
AG DEPARTMENT RELEASES SUPPLY AND DEMAND FIGURES:
GOOD MORNING I'M CLINTON GRIFFITHS. FARMERS AND GRAIN TRADERS WILL FOCUS ON THE MARKETS TODAY AS THE AG DEPARTMENT RELEASES ITS JULY SUPPLY-AND-DEMAND FIGURES AND CROP PRODUCTION REPORT. TYPICALLY, THIS DATA DOES NOT GAIN MUCH ATTENTION SINCE IT COMES SHORTLY AFTER THE JUNE ACREAGE REPORT. BUT SOME PRE-REPORT ANALYSIS SEEMS TO INDICATE A BIG SUPPLY OF CORN, WHICH COULD SEND PRICES DOWN. THOSE REPORTS COME OUT AT NOON EASTERN. MEANWHILE FRESH CROP CONDITIONS CAME OUT MONDAY.... THE REPORT SHOWING 32-PERCENT OF CORN IS SILKING...SIX POINTS AHEAD OF AVERAGE, IN THE MIDWEST, MISSOURI LEADS WITH 81-PERCENT, 30 POINTS AHEAD. THE CONDITION RATING CLIMBED FROM LAST WEEK. OVERALL 76-PERCENT IS GOOD TO EXCELLENT. THERE WAS A TWO POINT GAIN IN THE EXCELLENT CATEGORY. NOW TO SOYBEANS -40-PERCENT IS BLOOMING, NINE POINTS HIGHER THAN AVERAGE, SEVEN PERCENT IS SETTING PODS. 71-PERCENT IS GOOD TO EXCELLENT...TICKING ONE POINT HIGHER FROM LAST WEEK.
GMO LABELING:
THE U.S. HOUSE RULES COMMITTEE COULD CONSIDER THE SENATE'S VERSION OF A GMO LABELING BILL LATER TODAY. THAT SETS UP THE POTENTIAL FOR A FINAL VOTE BEFORE CONGRESS LEAVES FRIDAY. IF THE U.S. HOUSE FAILS TO CONSIDER THE SENATE BILL THIS WEEK, THE FATE OF THE LEGISLATION WILL BE DELAYED UNTIL SEPTEMBER. THE MEASURE--WHICH HAS SUPPORT OF VARIOUS AG GROUPS--ALSO SEEMS TO HAVE GAINED TEPID SUPPORT FROM HOUSE AG CHAIR MIKE CONAWAY.
AVIAN FLU IN CANADA:
THE CANADIAN FOOD INSPECTION AGENCY HAS ESTABLISHED AN AVIAN FLU CONTROL ZONE IN SOUTHEASTERN ONTARIO. THIS ACTION COMES AFTER A COMMERCIAL DUCK FARM NEAR THE CITY OF ST. CATHARINE'S TESTED POSITIVE FOR H-FIVE AVIAN FLU. FORTUNATELY, ANIMAL HEALTH OFFICIALS SAY IT'S A LOW PATHOGENIC VARIETY. THE FARM -WHICH IS ABOUT 30 MILES FROM THE U-S BORDER AT NIAGARA FALLS -IS UNDER QUARANTINE.
POULTRY DISPUTE:
FARMS WITHIN A THREE KILOMETER RADIUS ARE UNDER THE SAME CONTROL. SPEAKING OF POULTRY, U.S. POULTRY IS AT THE CENTER OF A NEW DISPUTE BETWEEN THE U.S. AND INDIA. TRADE OFFICIALS ARE CONSIDERING SUSPENDING 450-MILLION DOLLARS IN TARIFF CONCESSIONS FOR INDIA OVER IT'S FAILURE TO LIFT RESTRICTION ON U.S. POULTRY EXPORTS. THE W-T-O IS PLANNING HEARING ON THE DISPUTE LATER THIS MONTH.
FLOODING IN TEXAS:
THIS FLOODING ALONG THE SABINE RIVER IN SOUTHERN TEXAS IS ONE OF EIGHT "BILLION" DOLLAR WEATHER "DISASTERS" TO HIT THE COUNTRY DURING THE FIRST SIX MONTHS OF THE YEAR. THE HEAVY RAIN HIT LOUISIANA AND TEXAS IN EARLY MARCH. NOAA RELEASED A LIST OF 2016 WEATHER DISASTERS THAT MET OR EXCEEDED A BILLION DOLLARS IN DAMAGES. FROM JANUARY THRU JUNE, THE STORMS TOTALLED 13-BILLION DOLLARS IN DAMAGES AND 30 DEATHS. HALF OF THE EVENTS WERE IN TEXAS, INCLUDING THE SABINE FLOODING IN MARCH, APRIL FLOODING IN HOUSTON. AND A HAIL STORM, ALSO IN HOUSTON. IN COMPARION, IN 2015 THE U-S EXPERIENCED A TOTAL OF 10 INDIVIDUAL DISASTERS THAT EACH REACHED THE BILLION DOLLAR THRESHOLD.
CROP COMMENTS:
MIKE HOFFMAN JOINING US NOW WITH TODAY'S CROP COMMENTS. HELLO MIKE. HELLO CLINTON. MANY PLACES EXPERIENCING THE HEAT OF SUMMER --NOT SO IN THE NORTHERN ROCKIES. PARTS OF IDAHO, MONTANA AND WYOMING, STARTING THE WEEK WITH WINTER. SEVERAL PLACES IN THOSE STATES REPORTING LIGHT SNOWS. MOST OF IT FALLING AT ELEVATIONS ABOVE 65-HUNDRED FEET. OVER IN STEUBEN COUNTY NEW YORK THEY'D LOVE TO HAVE THE MOISTURE. A FARMER TELLS AGWEB THEY'VE HAD 1 AND HALF INCHES OF RAIN SINCE JUNE FIRST. IT'S BEEN HOT, THEN COLD AND THEN HOT. CREEKS ARE DRYING UP AND SO ARE SOME WELLS. THE FIRST CUTTING OF HAY WASN'T BAD BUT HE SAYS THE SECOND CUTTING DOESN'T LOOK LIKE IT WILL MAKE MUCH.
TEASE:
WE KNOW CALIFORNIA AND WISCONSIN ARE THE CLEAR DAIRY LEADERS IN THIS COUNTRY. BUT WHO COMES IN THIRD. . .AND FOURTH? IT'S A TIGHT BATTLE BACK-N-FORTH. DETAILS IN TODAY'S DAIRY REPORT. PLUS, WE'RE HEADED TO LOUISIANA TO SEE HOW JUNIOR NATURE LOVERS ARE PREPARING FOR A CAREER.
FROM THE FLOOR OF THE CME:
IN AGRIBUSINESS LETS SEE HOW MARKETS STARTED THE WEEK. FOR THAT WE HEAD TO THE FLOOR OF THE CME IN CHICAGO. IT'S BEEN A SHARPLY LOWER DAY IN THE CATTLE MARKET WITH LIVE CATTLE AND FEEDER CATTLE BOTH SHARPLY LOWER TO LIMIT DOWN FOR MOST OF THE DAY. REALLY SOME DEMAND FEARS IS THE IDEA IS ARE WE REALLY NEED TO GET THE DEMAND RAMPED UP AND A LITTLE OF THAT BASED OFF THE RATHER LACKLUSTER AUCTION MARKETS THAT WE HAVE FOR LIVE CATTLE LATE LAST WEEK. PRICES WERE A LITTLE BIT LOWER THAN THE ACTUAL DEMAND AND THE ACTUAL AMOUNT OF CATTLE TRADED WAS REALLY NOT ALL THAT BIG. SO THAT EXPECTATIONS ARE THAT WE'LL CONTINUE TO SEE WEAKER DEMAND AS WE MOVE FORWARD. ON THE OTHER HAND YOU KNOW THAT THERE IS INCREASING SUPPLIES COMING TO THE MARKET. LIVE HOGS ALSO IN TRADING LOWER ON SOME WEAKER CUT OUT VALUES OVER THERE. GENERALLY WEAKER TONE TO THE GRAIN MARKETS AFTER A VERY FIRM START IN THE OVERNIGHTS. OVERNIGHT WE SAW SOYBEANS MAKING SOME DOUBLE DIGIT GAINS AS A MATTER OF FACT IS A MATTER OF FACT CORN AND WHEAT ALSO TRADING HIGHER. REALLY SINCE WE'VE BEEN TRADING THE DAY'S SESSION HERE IN CHICAGO THE MARKET HAS REALLY SOLD OFF IT LOOKS LIKE A LOT OF PEOPLE WERE BUYING AT THE LAST NIGHT OR YESTERDAY USING THE USING THE OPPORTUNITY TO LIQUIDATE POSITIONS AND ALSO SOME TALK THAT WILL SEE SOME BETTER WEATHER THAN HAD BEEN ORIGINALLY IN THE FORECAST. THANKS VERY MUCH THIS IS JACK SCOVILLE VICE PRESIDENT PRIZE FUTURES GROUP HERE IN THE CME GROUP FLOOR WITH SOME COMMENTS FOR THE MARKETS.
AGRIBUSINESS:
ANDY SHISSLER, S & W TRADING, OUR GUEST HERE AT THE AGRIBUSINESS DESK, ANDY, LET'S TALK ABOUT ONE ONE OF YOUR FAVORITE TOPICS, I SUPPOSE, OR AT LEAST WE CONSIDER YOU AN EXPERT ON, IS WHAT'S GOING ON OVER IN CHINA.  AND IT SEEMS LIKE YOU KNOW OVER THE LAST I GUESS EIGHTEEN MONTHS THERE'S BEEN A LOT OF MOVES...IN THAT PART OF THE WORLD. WHAT'S HAPPENING NOW? WELL I THINK FOR THE FOR THE AG SIDE. THE DEMAND HAS BEEN VERY GOOD ON EVERYTHING, ESPECIALLY PORK. PORK. EVERY EVERYTHING'S BEEN VERY GOOD IN THE DEMAND SIDE,WHICH I DON'T THINK IS SURPRISING AT ALL. CROP WISE, THEY HAD A HUGE FLOOD IN THE CORN AREA. AND WE'VE HAD HUGE FLOODS HERE, AND WE SEE HOW THAT GOES ON YIELDS.
NATIONAL WEATHER:
WELCOME BACK TO AGDAY HERE WITH METEOROLOGIST MIKE HOFFMAN. MIKE AS WE LOOK ACROSS THE SYSTEM BOY GOING RIGHT THROUGH THE MIDDLE OF THE COUNTRY HERE. AND IT DEPENDS ON WHO GETS IT AND WHO MIGHT GET A LITTLE BIT LESS IN THE WAY OF MOISTURE. IT'S NOT GOING TO HIT EVERYBODY BUT A DECENT SYSTEM MOVING THROUGH THIS CENTRAL AND NORTHERN PLAINS WE ALSO HAVE A STATIONARY FRONT KIND OF STRETCHED OUT FROM THE TENNESSEE VALLEY ALL THE WAY TO THE CAROLINAS AND THAT WILL FOCUS ON SOME SHOWERS AND THUNDERSTORMS. BUT NORTH AND SOUTH OF THAT FRONT NOT A WHOLE LOT GOING ON. VERY HOT AND HUMID IN THE SOUTH A BIT ON THE PLEASANT SIDE IN NEW ENGLAND. BUT YOU GET WEST OF THIS HIGH AND IT'S STARTING TO HEAT UP SOME HUMIDITY AS WELL. SO THAT'LL BE THE FOCUS FOR SHOWERS AND THUNDER FROM OUT AHEAD OF THAT COLD FRONT YOU CAN SEE OUR COMPUTER MODEL NOT WIDE SPREAD WITH ALL THAT RAIN ACROSS THE AREA AS IT MOVES INTO THE WESTERN LAKES BUT IT IS AGAIN BRINGING IN SOME PARTS OF NORTHERN DIXIE AND INTO THE MID ATLANTIC STATES.
REGIONAL WEATHER:
THAT'S A LOOK CROSS COUNTRY NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS. WE HEAD TO BARSTOW, CALIFORNIA FIRST OF ALL SUNNY AND QUITE HOT. A HIGH TEMPERATURE OF 103.BEMIDJI MINNESOTA PARTLY TO MOSTLY SUNNY SKIES HIGH OF SEVENTY NINE. IN KNOXVILLE TENNESSEE WARM WITH A COUPLE OF SHOWERS AND THUNDERSTORMS MAINLY IN THE AFTERNOON HIGH EIGHTY FIVE. HEY, IF YOU'RE AROUND NEXT WEEK YOU MIGHT WANT TO HEAD OVER TO HEYWORTH ILLINOIS FOR THIS YEAR'S FARM JOURNAL CORN COLLEGE EVENT.
PITCH TO CORN COLLEGE:
WE ALL KNOW LOWER PRICES MEAN YIELDS ARE VITAL TO PROFITABILITY. COME LEARN FROM THE BEST, FARM JOURNAL AGRONOMIST KEN FERRIE AND MISSY BAUER WILL BOTH BE ON HAND AND WITH ALL NEW MATERIAL TO HELP YOU GET THE MOST OUT OF EVERY ACRE. FOR MORE INFORMATION GO TO WWW DOT AGWEB DOT COM FORWARD SLASH FARM JOURNAL.
TEASE:
WHEN WE COME BACK WE'LL LOOK AT THE BATTLE BETWEEN THE THIRD AND FORTH TOP PRODUCING DAIRY STATES. AND KIDS GET THEIR HANDS DIRTY AND LEARN A THING-OR-TWO ABOUT PRESERVING NATURE. IN THE COUNTRY -HEADS TO LOUISIANA -LATER ON AGDAY.
OVERSUPPLY OF MILK:
THERE'S STILL NO SHORTAGE OF GLOBAL MILK SUPPLY. USDA'S LATEST MILK PRODUCTION REPORT SHOWS PRODUCTION PER COW IN THE TOP PRODUCING STATES HIT ITS HIGHEST POINT SINCE THE REPORTSTARTED BACK IN 2003. AND TWO OF THE TOP PRODUCING STATES ARE VYING FOR THE NATION'S NUMBER 3 SPOT...BEHIND WISCONSIN AND CALIFORNIA. BETSY JIBBEN TAKES A LOOK INTO THE FRIENDLY COMPETITION AND WHAT'S PUSHING THE RISE IN PRODUCTION. IDAHO AND NEW YORK-BOTH KNOWN FOR ITS DAIRIES. TWO STATES SEEING THEIR SHARE OF SUCCESSES AS WELL AS CHALLENGES. WE'RE IN A FUN COMPETITION BETWEEN NEW YORK AND IDAHO AND WHERE IT GOES, HEY, WE'LL SEE HOW IT GOES OVER THE NEXT COUPLE OF YEARS.
YOGURT INDUSTRY ABSORBS SOME OF THE MILK OVERSUPPLY:
THE YOGURT INDUSTRY BECAME A HOME FOR MUCH OF THAT MILK DURING THE BOOM YEARS IN BOTH STATES. CHOBANI ALONE BROUGHT HUNDREDS OF JOBS TO NEW YORK WHEN THE COMPANY BOUGHT AN IDLED CHEESE PLANT IN 2005 TO START PRODUCING GREEK YOGURT.
TEASE:
UP NEXT ARE YOU LOOKING FOR A SUMMER PROJECT TO DO WITH THE KIDS? NEXT WE'LL SHARE AN IDEA THAT GETS THEM THINKING ABOUT THE GREAT OUTDOORS.
IN THE COUNTRY:
ATTENDING A SUMMER CAMP IS A TRADITION FOR MANY YOUNG PEOPLE. STUDENTS ATTENDING A JUNIOR NATURALIST CAMP AT LOUISIANA STATE  UNIVERSITY LEARNED HOW TO BUILD A TERRARIUM, GIVING THEM AN APPRECIATION FOR THE ROLE PLANTS PLAY IN THEIR LIVES. LSU AGCENTER'S CRAIG GAUTREAUX HAS THE STORY.  ATTENDEES OF THE JUNIOR NATURALIST CAMP FOR TIGER CHALLENGE IN BATON ROUGE GOT THEIR HANDS DIRTY, PLAYED WITH ROCKS, AND WHEN THEY WERE FINISHED, HAD CONSTRUCTED A TERRARIUM OF THEIR VERY OWN. THE LESSON HIGHLIGHTED THE IMPORTANT ROLE OF PLANTS AND TAUGHT THE STUDENTS HOW TO CARE FOR THEM. THIS CAN BE SOMETHING THE CHILD COMPLETELY MANAGES.
CLOSING:
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 IN FARM COUNTRY.
PROMO:
I'M CLINTON GRIFFITHS. WEDNESDAY ON AGDAY -WE LOOK AT WHEAT MARKETS SHOULD FARMERS SELL OR STORE? PLUS, THE MARKET PREPARES FOR WHAT COULD BE A PRICE MOVING GRAIN REPORT FROM USDA. TUNE IN WEEKDAYS RIGHT HERE ON AGDAY.

 

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