AgDay Daily Recap -July 14, 2016

July 14, 2016 02:57 AM
 

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TODAY ON AGDAY
JULY 14, 2016


OPENING HEADLINES:
TODAY ON AGDAY -KEEPING USDA "IN THE LOOP" WHEN IT COMES TO FOREIGN INVESTMENT OF U-S AG. AS FARMLAND VALUES SLIDE, IS THERE HOPE FOR A TURNAROUND IN THAT IMPORTANT MARKET? IN AGRIBUSINESS....KEEPING TABS ON CHINA.  SEE WHAT STEPS TOBACCO GROWERS ARE TAKING TO REMAIN TRANSPARENT. AND HONESTY IN THE ICE CREAM PARLOR!
IOWA BILL SEEKS TO GIVE USDA MORE DECISION POWER IN FOREIGN PURCHASES:
GOOD MORNING, I'M BETSY JIBBEN. CLINTON GRIFFITHS WILL JOIN US AT THE AGRIBUSINESS DESK. IOWA SENATOR CHUCK GRASSLEY IS TRYING TO PASS A BILL THAT MAKES USDA MORE INVOLVED IN THE DECISION MAKING PROCESS WHEN IT COMES TO FOREIGN PUCHASES OF U.S. AG. COMPANIES. GRASSLEY INTRODUCING THE BILL THIS WEEK, WANTING TO PERMANENTLY ADD USDA TO THE COMMITTEE ON FOREIGN INVESTMENT IN THE UNITED STATES. THAT'S THE PROCESS PANEL WHICH CONDUCTS REVIEWS, APPROVES SALES AND DECIDES IF THE FOREIGN PURCHASE OF A U.S. COMPANY IMPACTS NATIONAL SECURITY. GRASSLEY BELIEVES AG. ASSETS ARE CRITICAL INFRASTRUCTURES THE COMMITTEE MUST CONSIDER BEFORE APPROVING A SALE. GRASSLEY STATING: "FOOD SECURITY IS NATIONAL SECURITY."
FARMLAND VALUES SLIDE DOWN:
NEW DATE-A FROM TWO OF THE BIGGEST FARM LENDERS IN THE COUNTRY SAYS FARMLAND VALUES CONTINUE TO SLIDE DOWNWARD IN THE WESTERN CORN BELT. BUT THE DROP IS NOT AS SEVERE AS WE'VE SEEN THE PAST THREE YEARS.THE DATA WE'RE GETTING SHOWS THE DECLINE WHICH WE CAN SEE AND IS EXPECTED IS A LOT SLOWER, NOT NEARLY AS DEEP AS PEOPLE HAD FEARED. NOW THIS DECLINE AS I MENTIONED EARLIER IS NOT NEARLY AS SHARP  AS SOME PEOPLE HAD PREDICTED, BUT IT DOES CONFIRM THE DOWNWARD TREND WHICH IS DRIVEN OBVIOUSLY BY LOWER COMMODITY PRICES. AND WE HAVE BEEN SLIDING HERE MORE ON A STEADY BASIS FOR THREE YEARS NOW BECAUSE THE PEAK WAS IN 2013. BUT SO FAR WE HAVE MANAGEABLE DECLINE AND THERE ARE SOME SIGNS OF STABILIZATION IN THE WESTERN CORN BELT. .FOR THE EDITORS OF PROFARMER AND LANDOWNER NEWSLETTER, I'M MIKE WALSTEN." THE LENDERS SAY PASTURELAND VALUES WERE DOWN AS WELL, BUT NOT AS MUCH AS CROP-LAND. AND ONE EXPECTION TO THE APPRAISAL - WYOMING. IT SAW CROPLAND VALUES GO UP ONE PERCENT. AND RANCHLAND UP A WHOPPING 20-PERCENT.
TOBACCO:
 U-S TOBACCO GROWERS ARE REQUIRED TO USE "GOOD AGRICULTURAL PRACTICES" -OR GAP -IF THEY WANT TO SELL THEIR CROP TO THE BIG TOBACCO COMPANIES. THE GAP PROGRAM HELPS GROWERS WITH RECORD KEEPING AND ACCOUNTABILITY. JEFF FRANKLIN FROM THE UNIVERSITY OF KENTUCKY LOOKS AT THE PROGRAM. BEFORE THE TOBACCO GROWING SEASON BEGAN THIS YEAR, CHARLIE HENNING AND HIS SON BRANDON, PLANTED TOBACCO SEEDS IN FLOAT BEDS TRAYS TO BE GROWN IN THEIR GREENHOUSES. WHEN IT COMES TO THE TOBACCO GAP PROGRAM, IT IS NOTHING NEW TO THE HENNINGS BECAUSE THEY HAVE ALWAYS KEPT GOOD RECORDS, BUT CHARLIE SAYS NOW IT IS ALL ABOUT SATISFYING THE TOBACCO COMPANIES. FROM THE UNIVERSITY OF KENTUCKY COLLEGE OF AGRICULTURE, FOOD AND ENVIRONMENT, I'M JEFF FRANKLIN REPORTING.
CROP COMMENTS:
LET'S CHECK IN WITH MIKE HOFFMAN WITH THIS MORNING'S CROP COMMENTS. MIKE. GOOD MORNING, BETSY. LET'S START OFF IN BURT COUNTY, NEBRASKA. MATT NELSON SAYS HIS DOG ZOE HAD TO COOL OFF AFTER HELPING WITH CATTLE CHORES ON A WARM DAY! HOWEVER IT WASN'T ALL SUN IN THAT AREA THIS WEEK. MATT SAYS HE RECEIVED 2-AND-A-HALF INCHES OF RAIN AND STRONG WINDS. HIS CROPS ARE FORTUNATE BUT OTHERS HAVE HAIL DAMAGE.
TEASE:
PLENTY MORE AHEAD ON AGDAY INCLUDING A CLOSER LOOK AT THE ECONOMIC PICTURE OF CHINA WHEN IT COMES TO COMMODITIES. PLUS MEET A DAIRY FARMER WHO PUTS A LOT OF TRUST IN PEOPLE WHO WANT TO BUY HIS FARMSTEAD ICE CREAM.
FROM THE FLOOR OF THE CME:
IN AGRIBUSINESS TODAY -THE COMPUTER SCREENS SHOWED A LOT OF GREEN AT THE CME IN CHICAGO. LET'S HEAD THERE NOW FOR AN UPDATE ON WEDNESDAY'S CLOSE. WEDNESDAY'S GRAINS WE SEE HIGHER PRICES ACROSS THE BOARD AND I DON'T THINK IT'S ANY REAL SURPRISE AND FORGET ABOUT THE USDA REPORT I THINK WE'RE GETTING. AGAIN AND AGAIN THE GAMBLERS ARE GOING TO THE CASINO WE'RE BATTING WEATHER AND I CONTINUE TO ASK THE QUESTION IF A DEGREED WEATHER PROFESSIONAL CAN'T GET IT RIGHT, ENOUGH TO PROFIT FROM THE MARKETS WHAT MAKES US THINK THAT WE CAN DO SO I THINK WE'RE SETTING OURSELVES UP FOR ANOTHER BIG FALL, YOU'VE GOT A LOT OF MAJOR FUNDS BUYING AND BUYING AND BUYING./ I THINK THAT BECOMES A MUCH BIGGER ISSUE. SO OVERALL I'M VERY BULLISH THE SPACE I'M EVEN BULLISH BEANS BUT NOT AT THESE PRICE LEVELS. I THINK WE NEED TO SEE SOME SORT OF A SELL OFF BEFORE WE CAN SEE ACTUAL UPWARD PRICE MOVEMENT AND BE CONSISTENT. THAT'S THE WAY I SEE IT THIS IS TODD HOROWITZ FROM BUBBATRADING.COM COMING FROM YOU FROM THE CME GROUP IN CHICAGO.
AGRIBUSINESS:
WHENEVER YOU DISCUSS GLOBAL MARKETS, MUCH OF THE ATTENTION TURNS TO CHINA. CLINTON TALKED WITH ANDY SHISSLER ABOUT THE CURRENT ECONOMIC OUTLOOK OF CHINA. ANDY SHISSLER AT THE AGRIBUSINESS DESK. ANDY, LET'S TALK ABOUT A ONE ON ONE OF YOUR FAVORITE TOPICS I SUPPOSE OR WHAT 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 RIGHT NOW? I THINK FOR THAT FOR THE AG SIDE, OF THE DEMAND HAS BEEN VERY GOOD ON EVERYTHING.
NATIONAL WEATHER:
WELCOME BACK TO A AGDAY WITH MIKE HOFFMAN. MIKE IT LOOKS AS IF IT'S FAIRLY WARM ACROSS MAJORITY OF THE COUNTRY. YEAH, EVEN BEHIND THIS FIRST COLD FRONT IT'S A STILL WARM. IT'S VERY HOT HUMID SOUTH OF THERE BUT THE COOL AIR IS MAINLY IN CANADA. SO WITH NO STRONG COOL FRONT BLASTING SOUTHWARD THESE FRONTS ARE KIND OF IN THE WEAK SIDE BUT THERE IS PLENTY OF MOISTURES OUT THERE. SO YOU'RE GONNA SEE SHOWERS AND THUNDERSTORMS ALONG EACH OF THE FRONTS MAINLY IN THE PLAINS AND ALSO INTO THE EASTERN PORTIONS OF THE COUNTRY. PUTTING THE MAPS INTO MOTION YOU CAN SEE OUR COMPUTER MODEL KEEPS SOME AREAS OF SHOWERS AND THUNDERSTORMS ALONG THIS COLD FRONT MOVING THROUGH THE OHIO VALLEY AND GREAT LAKES BUT IT DOESN'T SHOW WIDESPREAD THAT ANYWHERE. IT DOES SHOWHIT AND MISS IN THE SOUTHEAST. THE HIT AND MISS IS DEVELOPING ALONG THIS AREA OF LOW PRESSURE THERE IN TEXAS AND OKLAHOMA AND THE FRONT OF THE NORTH WILL HAVE A FEW SHOWERS AND THUNDERSHOWERS ALONG A BIT BUT IT'S NOT COMING TOO FAR SOUTH. HEADING THROUGH TONIGHT THEN THE FIRST COLD FRONT MOVING THROUGH THE NORTHERN AND CENTRAL APPALACHIANS WAS SOME SCATTERED AGAIN SCATTERED SHOWERS AND THUNDERSTORMS. THERE COULD BE SOME DECENT RAIN OUT OF THE SYSTEM AS IT COMES EAST ALONG THIS FRONT KIND OF STALLS OUT.
REGIONAL WEATHER:
NOW LET'S TAKE A LOOK AT YOUR LOCAL FORECAST. WE'LL HEAD TO WANACHI, WASHINGTON FIRST OF ALL. LOTS OF SUNSHINE AND WARM. HIGH OF 87 DEGREES. MIAMI, OKLAHOMA, HOT AND HUMID. THUNDERSTORM POSSIBLY ON THE STRONG SIDE. HIGH OF 93. AND CUMBERLAND, MARYLAND, HOT AND HUMID. A THUNDERSTORM IN SOME AREAS. THE HIGH IS 94.
TEASE:
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. 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.
USDA MAKES NEW RULES FOR HANDLING OF VEAL CALVES:
USDA ANNOUNCING CHANGES TO HOW VEAL CALVES ARE HANDLED. THE FOOD SAFETY AND INSPECTION SERVICE SAYS VEAL CALVES THAT ARE SET FOR PROCESSING -BUT CANNOT RISE AND WALK PROMPTLY -MUST BE HUMANELY EUTHANIZED. AND THE MEAT CANNOT ENTER THE FOOD SUPPLY.. PREVIOUSLY, CALVES WHICH WERE UNABLE TO RISE RIGHT AWAY WERE SET ASIDE...AND LATER SENT TO SLAUGHTER. IN NEWS FROM OUR PARTNERS AT DROVERS....CATTLE FEEDERS CONTINUE TO FIND MODEST POSITIVE MARGINS ON CATTLE MARKETED. THE STERLING PROFIT TRACKER SHOWS FEEDYARDS FOUND AVERAGE PROFITS OF 32-DOLLARS A HEAD.
MEAT CONSUMPTION:
THE UNITED STATES IS CHEWING ITS WAY TOWARD ITS HIGHEST PER-CAPITA MEAT CONSUMPTION SINCE THE RECESSION OF OH-8 AND OH-9. THE FERN'S AG INSIDER SAYS AMERICANS WILL CONSUME AN AVERAGE 214POINT-7 POUNDS OF RED MEAT AND POULTRY PER PERSON THIS YEAR. THAT'S AN INCREASE OF ALMOST 4 POUNDS.
TEASE:
UP NEXT MEET A DAIRY PRODUCER WHO PUTS A LOT OF FAITH IN HIS CUSTOMERS. DETAILS WHEN WE HEAD IN THE COUNTRY.
IN THE COUNTRY:
IMAGINE WALKING INTO A RESTAURANT, SERVING YOURSELF, AND THEN LEAVING THE PAYMENT ON THE COUNTER? THAT SORT OF HONESTY -AND TRUST -IS RARELY SEEN ANY MORE. BUT AS WE FIND OUT IN THIS VIDEO FROM THE WISCONSIN MILK MARKETING BOARD, A FARMER IN NORTHERN WISCONSIN RUNS HIS ICE CREAM SHOPPE WITH A LOT OF FAITH IN PEOPLE. TETZNER DAIRY IS A SMALL FARMSTEAD MILK BOTTLING AND ICE CREAM PRODUCTION FACILITY LOCATED IN WASHBURN, WISCONSIN. IT'S ONE OF THE LONGEST-RUNNING, FAMILY FARMSTEAD, MILK AND ICE CREAM PROCESSING PLANTS IN THE STATE! "YOU KNEW IT WAS SOMETHING DIFFERENT THAN WHAT OTHER FARMS HAD, BUT I GUESS NOW YOU KIND OF UNDERSTAND HOW UNIQUE IT IS, TO HAVE OUR OWN FARM AND PROCESSING PLANT AND MAKE ICE CREAM AND YOUR OWN MILK!"
CLOSING:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR CLINTON GRIFFITHS AND MIKE HOFFMAN, I'M BETSY JIBBEN. HAVE A GREAT DAY.
PROMO:
I'M BETSY JIBBEN. FRIDAY ON AGDAY -IS IT A WEATHER MARKET OR NOT? WE'LL TALK ABOUT IN THE PROFARMER PROFIT BRIEFING FRIDAY ON AGDAY. PLUS A GREAT AMERICAN BARN FROM THE HOOSIER STATE. AND FUTURE ENGINEERS TRY TO CURB URBAN RUN-OFF. TUNE IN FRIDAY FOR AGDAY.

 

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