AgDay Daily Recap -July 15, 2016

July 15, 2016 02:57 AM
 

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TODAY ON AGDAY
JULY 15, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY -THE LATEST DROUGHT MONITOR SHOWING A SLIGHT EXPANSION ACROSS THE U.S. OVERALL BUT SOME PLACES ARE BURSTING WITH BEAUTIFUL CROPS. IN THE PRO FARMER PROFIT BRIEFING...ARE WE IN A WEATHER DRIVEN MARKET. THOSE ARE THE TYPES OF THINGS THAT ARE GOING TO DETERMINE WHEATER WE ARE REALLY GOING TO PUSH THIS MARKET HIGHER ON A WEATHER PREMIUM OR WHETHER IT KIND OF FIZZLES OUT PLUS, A GREAT AMERICAN BARN WITH HISTORIC TIES TO AMERICA'S HAY MARKET. AND SEE HOW THESE KIDS ARE WORKING TO CURB RUNOFF ON A CITY STREETS.
DROUGHT MONITOR:
GOOD MORNING I'M CLINTON GRIFFITHS. ONE OF THE GARDEN SPOTS IN THE MIDWEST HAS NOW NEARLY ELIMINATED ANY EVIDENCE OF DROUGHT....WHICH COULD PUSH AN ALREADY HIGH CORN CONDITION RATING EVEN HIGHER. THE NEWEST DROUGHT MONITOR SHOWS DROUGHT HAS ALL BUT DISAPPEARED IN MINNESOTA AFTER A WEEKS' WORTH OF RAIN. JUST ONE PERCENT HAS MODERATE DROUGHT. EIGHT PERCENT OF THE STATE IS CALLED ABNORMALLY DRY. THAT'S DOWN FROM 33-PERCENT THE WEEK PRIOR. THE AG DEPARTMENT PUTS 81-PERCENT OF THE MINNESOTA CORN CROP IN THE GOOD TO EXCELLENT CATEGORIES. IN THE MIDWEST, ONLY NEIGHBORING WISCONSIN HAS A HIGHER CORN CONDITION RATING. IOWA ALSO SEEING SOME IMPROVEMENTS IN THE DROUGHT MONITOR. THE AREA CONSIDERED ABNORMALLY DRY NOW 3 POINTS BETTER THAN LAST WEEK.
MONTH OF JUNE SEES DRY WEATHER:
BUT JUNE WAS DRY FOR MUCH OF THE STATE. WE VISITED A FARMER IN MADISON COUNTY, IOWA THIS WEEK. HE SAYS THAT DRY WEATHER IN JUNE MADE FOR IDEAL HAY HARVEST CONDITIONS. THE LAST TWO YEARS HAS BEEN ROUGH IN THIS AREA BECAUSE OF HTE WEATHER, TO GET THE FIRST CUTTING UP AND GET IT UP IN GOOD CONDITION. AND WE GOT IT UP EARLY, SO IT'S GOOD QUALITY AND IT'S IN GOOD CONDITION AND IT DIDN'T GET RAINED ON. SO IT'S PROBABLY THE BEST ON IN THE LAST THREE TO FOUR YEARS IN THIS AREA. BAUR SAYS THE SECOND CUTTING COULD SUFFER DUE TO THE LACK OF MOISTURE IN MAY. BUT HE'S HOPEFUL THE THIRD CUTTING WILL MAKE UP FOR THAT. MEANWHILE, IN THE SOUTHEAST, DROUGHT AND DRYNESS SPREAD SLIGHTLY THIS WEEK. FARMERS IN THE AREA ARE WATCHING IT CLOSELY ESPECIALLY AFTER COTTON PRICES JUMPED TO FRESH TWO YEAR HIGHS ON THE FRONT MONTH FUTURES CONTRACT. PRICES CLIMBING TO NEARLY 74 DOLLARS PER HUNDRED...UP ALMOST 10 DOLLARS IN JUST THE LAST 6 DAYS.
MERGER POSSIBILITIES:
IN A YEAR OF MERGER DISCUSSIONS, MONSANTO CONTINUES TO DISCUSS MERGER POSSIBILITIES. NEWS THIS WEEK THAT IT'S REVIVED TALKS WITH AG CHEMICAL GIANT BASF. MONSANTO CONTINUES TO EXPLORE VARIOUS TRASNSACTIONS AS MANY OF THE NATION'S MAJOR AG BUSINESSES LOOK AT CONSOLIDATION. ST LOUIS BASED MONSANTO IS REPORTED TO BE LOOKING AT BUYING BASF'S AGRICULTURE SOLUTIONS UNIT IN RETURN FOR NEWLY ISSUED SHARES. MEANWHILE, BAYER AG CONTINUES TO PUSH ITS BID FOR MONSANTO. THE COMPANY RATCHETING UP IT'S OFFER TO 125 DOLLARS PER SHARE--3 DOLLARS A SHARE HIGHER THAN ITS LAST OFFER.
GMO BILL TERMS CREATED, FINALLY:
FARM GROUPS ARE APPLAUDING THE U.S. HOUSE FOR PASSING NATIONAL GMO LABELING LEGISLATION. THEY'RE NOW CALLING ON PRESIDENT OBAMA TO QUICKLY SIGN THE BILL INTO LAW. BY A VOTE OF 306 TO 117, THE LAW WILL PREEMPT STATE LAWS LIKE THE ONE ALREADY IN EFFECT IN VERMONT. IT ALLOWS FOOD COMPANIES TO USE SMART LABELS TO GIVE CONSUMERS MORE INFORMATION ABOUT THE PRODUCTS THEY BUY. THE PRESIDENT IS EXPECTED TO SIGN THE BILL...BUT IMPLEMENTATION IS EXPECTED TO TAKE UP TO 3 YEARS. COURT CHALLENGES ARE EXPECTED.
CROP COMMENTS:
LET'S CHECK IN WITH MIKE HOFFMAN FOR THIS MORNING'S CROP COMMENTS. MIKE. GOOD MORNING CLINTON. LET'S START OFF IN PIERCE COUNTY, NORTH DAKOTA. A FARMER WRITING ON AGWEB -IT'S A TALE OF TWO WORLDS IN THE STATE: SOME FARMERS GETTING TOO MUCH RAIN. OTHERS CHOKING ON DUST.  THIS FARMER SAYS THERE WILL BE HIGH BUSHELS AND POOR QUALITY AS WELL AS LOW BUSHELS AND HIGH QUALITY WITH LITTLE INBETWEEN. USDA SAYS 78 PERCENT OF THE STATE'S CORN CROP IS RATED GOOD TO EXCELLENT. AND SOME RATHER IMPRESSIVE CLOUD FORMATIONS OVER NORTHERN INDIANA WEDNESDAY NIGHT. STORMS BLEW THROUGH WITH HEAVY RAIN.
TEASE:
WEATHER WATCHERS TAKE NOTICE, UP NEXT, OUR PROFARMER PROFIT BRIEFING HAS DEBATE ON WHAT'S DRIVING MARKETS THIS MONTH...AND WHETHER IT'S WEATHER THAT'S SITTING IN THE SEAT. WE'LL VISIT A GREAT AMERICAN BARN THAT ONCE SERVED AS A IMPORTANT COG IN THE NATION'S HAY INDUSTRY. AND FUTURE ENGINEERS ARE COMING UP CREATIVE WAYS TO DEAL WITH RUNOFF COMING FROM THE URBAN SECTOR.
FROM THE FLOOR OF THE CME:
LETS SEE HOW MARKETS CLOSED THURSDAY FROM THE FLOOR OF THE CME IN CHICAGO.  IT WAS A NICE FRIENDLY OVERNIGHT, EARLY MORNING SESSION BEFORE THE FLOOR OPENED. GRAINS TRADING HIGH ACROSS THE BOARD. THAT'S WITH CORN, SOYBEANS, WHEAT. ALL CHANGED AT THE FLOOR OPEN, WE SAW FUNDS TAKE ADVANTAGE OF THE HIGHER PRICE ACTION AND SELL INTO THAT. WE'RE SEEING SOME LATE-DAY PRESSURE HERE ACROSS THE BOARD. THIS HAS BEEN OLIVER SLOUP WITH II TRADER COMING TO YOU FROM THE FLOOR OF THE CME.
TEASE:
AS WE WRAP UP ANOTHER WEEK OF TRADE, THE CREW OVER AT PROFARMER CONTINUE TO DEBATE WHETHER WE'RE IN A WEATHER MARKET OR NOT?
PROFARMER:
THEY JOIN US WITH THE DISCUSSION IN TODAY'S PROFARMER PROFIT BRIEFING.WELL BRIAN, TALKING ABOUT IT IN THE EVENTFUL WEEK WE'RE GOING THRU RIGHT NOW. WE HAD USDA SUPPLY AND DEMAND, CROP PRODUCTION REPORT FROM USDA. IF WE HAD TO SUMMARIZE THAT QUICKLY, THE REPORT WAS FRIENDLY FOR CORN, NEUTRAL FOR SOY AND IT WAS TOUGH TO FIND SOMETHING BULLISH IN THE DATA FOR WHEAT. BUT SOYBEANS REALLY DIDN'T CARE. THEY TOOK OFF AND WENT RUNNING TO THE UPSIDE AS WE BROUGHT SOME HEAT INTO THE FORECAST. YES, WE CONTINUE TO SEE SPECULATORS FAVOR SOYBEANS OVER CORN. EVEN THOUGH THIS IS THE KEY TIME FRAME FOR CORN WEATHER-WISE, THE SOYBEAN MARKET DEFINITELY REACTED TO HEAT AND POTENTIAL DRYNESS IN THE JULY 20TH -26TH PERIOD. YEA, AND I THINK PART OF THE REASON THAT CORN HAS BEEN HESITANT TO GO IS BECAUSE IT'S BEEN FITS AND STARTS ON THE HEAT MOVING INTO THE MIDWEST. THIS WEEKEND, IT'S EXPECTED TO BE ABOUT PERFECT RIGHT IN THE MIDDLE OF THE CORN BELT HERE IN IOWA. BUT ONCE WE GET BEYOND THAT, IT LOOKS LIKE SOME HEAT COMING ON. RIGHT IN THE MIDDLE OF THAT NEXT WEEK. ALRIGHT  FOR BRIAN GRETE AND ALL THE EDITORS FOR PRO FARMER IN CEDAR FALLS IOWA I'M CHIP FLORY.
NATIONAL WEATHER:
WELCOME BACK TO AGDAY WITH MIKE HOFFMAN. MIKE, WE'VE BEEN TALKING  ABOUT THE DROUGHT MONITOR QUITE A BIT. IF WE LOOK INTO MICHIGAN AND OHIO, YOU CAN SEE THOSE POCKETS EXPANDING JUST A BIT. YEAH, THEY HAVE. WE WERE TALKING BEFOREHAND HOW SOME AREAS ARE GETTING MISSED. THAT'S PARTS OF COUNTIES HERE AND PARTS OF COUNTIES THERE. AND THAT'S WHAT'S HAPPENING ACROSS THE CORN BELT. THAT'S WHAT IT LOOKS LIKE NOW. IF WE GO BACK FOUR WEEKS TO SEE WHAT IT LOOKS LIKE, YOU CAN ALREADY SEE THERE WERE POCKETS STARTING TO SHOW UP IN THE MIDWEST AND THE CORN BELT BUT THEY'VE EXPANDED OVERTIME AS WE MOVE THROUGH THE LAST FOUR WEEKS.
REGIONAL WEATHER:
THAT'S A LOOK ACROSS THE COUNTRY. NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS. WE'LL HEAD TO ALAMOGORDO, NEW MEXICO FIRST OF ALL. IT'S HOT WITH A MIX OF SUN AND CLOUDS. THE HIGH TEMPERATURE IS 104. DUBUQUE, IOWA TIMES OF SUN AND CLOUDS AND NOT TOO HOT. THE HIGH TEMPERATURE IS 77. AND AIKEN, SOUTH CAROLINA, WARM AND HUMID, THUNDERSTORM IS POSSIBLE. THE HIGH IS AROUND 93.
TEASE:
WHEN WE COME BACK, WE SEE HOW A BARN -DATING BACK BEFORE THE CIVIL WAR -HELPED BUILD THE HAY INDUSTRY IN SOUTHERN INDIANA. AND WHILE BLAME IS OFTEN HEAPED ON FARMS, URBAN RUN-OFF CAN BE JUST AS DETRIMENTAL TO RIVERS AND STREAMS. FIND OUT HOW THESE COLLEGE STUDENTS HOPE TO CURB THAT PROBLEM.
GREAT AMERICAN BARNS:
TODAY'S GREAT AMERICAN BARN STANDS AS A TESTAMENT TO THE ONE-TIME THRIVING HAY INDUSTRY IN SOUTHEAST INDIANA. THIS IS THE TEE-AY-BOW (THIEBAUD) FARMSTEAD IN VEE-VEE, INDIANA. IT'S LISTED ON THE NATIONAL REGISTER OF HISTORIC PLACES. THE INDIANA BARN FOUNDATION SAYS THIS BARN IS AN EXAMPLE OF EARLY 19TH CENTURY SWISS SETTLEMENT IN THE AREA. IT WAS BUILT IN 1850 AND WAS USED A HAY-PRESS BARN. HAY FROM SURROUNDING FARMS WOULD BE PRESSED INTO 400 POUND BALES, USING A THREE STORY SYSTEM OF PULLEYS AND MASSIVE SCREWS. THEN THE BALES WERE HAULED DOWN TO THE NEARBY OHIO RIVER....HEADING SOUTH TO NEW ORLEANS.
TEASE:
NEXT -CURBING URBAN RUNOFF. I'M CHARLES DENNEY, FUTURE AGRICULTURAL ENGINEERS LOOK FOR SOLUTIONS TO WATER QUALITY ISSUES FROM STORM RUNOFF. SEE HOW THEY DESIGN THEIR IDEAS. NEXT ON AGDAY.
IN THE COUNTRY:
WHEN WE GET HEAVY RAINS IN PAVED, URBAN AREAS – THE STORM RUNOFF CAN  CONTAMINATE RIVERS AND STREAMS. IT'S A PROBLEM ENGINEERING STUDENTS WORKED ON IN A COMPETITION HOSTED BY UNIVERSITY OF TENNESSEE'S INSTITUTE OF AGRICULTURE. CHARLES DENNEY REPORTS ON HOW THEIR SOLUTIONS TO THIS ISSUE COULD LEAD TO A CAREER HELPING THE ENVIRONMENT. GATHER YOUR MATERIALS AND THEN FILL YOUR GIANT TEST TUBE. THAT'S SORT OF WHAT THESE ENGINEERING STUDENTS ARE DOING, PART OF THE AMERICAN ECOLOGICAL ENGINEERING SOCIETY MEETING HELD AT UT. THEY PACK SAND, SOIL, CLAY AND ROCKS – CREATING A BIO-RETENTION SYSTEM THAT MIGHT HELP WITH STORMWATER MANAGEMENT. "THE STUDENTS WILL WORK IN TEAMS. AND THEIR CHARGE IS TO DESIGN A BIO RETENTION MEDIA. THAT IS A COMPONENT OF A STORM WATER MANAGEMENT PRACTICE. AND THIS MEDIA NEEDS TO BE DESIGNED SUCH THAT IT TARGETS THE REMOVAL OF POLLUTANTS SUCH AS NITRATE AND PHOSPHATE. DR. ANDREA LUDWIG WITH BIOSYSTEMS ENGINEERING AND SOIL SCIENCE AT UT'S INSTITUTE OF AGRICULTURE HELPED ORGANIZE THIS EVENT.
CLOSING:
 THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR MIKE HOFFMAN, I'M CLINTON GRIFFITHS. HAVE A GREAT DAY.
PROMO:
I'M CLINTON GRIFFITHS. MONDAY ON AGDAY -WE GET THE LATEST EQUIPMENT DEALS FROM OUR EQUIPMENT EXPERT MACHINERY PETE. PLUS, WILL AGRICULTURE GAIN SOME ATTENTION IN THE V-P SWEEPSTAKES? FOR EXPERT MARKET ANALYSIS, TUNE IN DAILY RIGHT HERE ON AGDAY.

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