AgDay Daily Recap -July 7, 2016

July 7, 2016 02:57 AM
 

TODAY ON AGDAY
JULY 7, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY -I'M CHARLES DENNEY. WEEDS INVADE TENNESSEE'S AGRICULTURAL FIELDS. BUT NOW UNIVERSITY OF TENNESSEE AG RESEARCHERS FIGHT BACK, TRYING TO HELP FARMERS WITH THE LATEST INFORMATION. THAT STORY FROM JACKSON, TENNESSEE, COMING UP ON AGDAY. IN AGRIBUSINESS...PREPARING FOR 2017. IF YOU GET NEARBY DEC CORN OVER FIVE DOLLARS IT'S TIME TO START LOOKING AT SALES FOR 17 WE'LL CHECK ON CATTLE MARKETS THROUGH 2016. AND WE INVESTIGATE THE "GREAT DIVIDE" BETWEEN RURAL AMERICA AND URBAN AMERICA -AND HOW THOSE DIFFERENCES MIRROR THE POLITICAL AND ECONOMIC LANDSCAPE.
ATRAZINE UNDER REVIEW BY EPA:
GOOD MORNING I'M CLINTON GRIFFITHS. A MAJOR TOOL IN THE FARMER'S TOOLBOX IN THE FIGHT AGAINST WEEDS IS UNDER REVIEW BY THE EPA. NOW PRODUCERS ARE GETTING MORE TIME TO MAKE THEIR CASE FOR ATRAZINE. IN JUNE THE ENVIRONMENTAL PROTECTION AGENCY RELEASE A REPORT THAT RAISED CONCERNS ABOUT ATRAZINE'S EFFECTS ON FISH, FROGS, PLANTS AND INVERTEBRATES. ITS NOW TAKING PUBLIC COMMENTS ON ITS DRAFT RISK ASSESSMENT REGARDING THAT CLASS OF PRODUCTS. ORIGINALLY IT HAD PLANNED TO STOP TAKING THOSE COMMENTS IN AUGUST. THAT'S NOW BEEN PUSHED BCK TO OCTOBER 4TH.
FLORIDA PROGRAM AIMS TO TARGET HARMFUL RUNOFF:
IN FLORIDA, GOVERNOR RICK SCOTT IS NOW BACKING A VOLUNTARY PROGRAM TO HELP MITIGATE WATER DISCHARGES FROM LAKE OKEECHOBEE THAT HAVE RESULTED IN MASSIVE AND PUTRID-SMELLING ALGAE BLOOMS IN SOUTHWEST FLORIDA. SCIENTISTS BELIEVE THE THICK ALGAE IS THE RESULT OF URBAN SPRAWL AND FARM RUN-OFF. THE CORPS OF ENGINEERS RELEASE WATER FROM THE LAKE INTO CANALS AND RIVERS TO PREVENT FLOODING. THAT DISCHARGE HELP SPREAD THE ALGAE. THE MITIGATION PROGRAM WOULD HELP RESIDENTS SWITCH FROM SEPTIC TANKS TO MUNICIPAL SEWER SYSTEMS.
NEW METHODS TO FIGHT WEEDS EXAMINED:
WEEDS CAN CAUSE DAMAGE TO AGRICULTURAL ROW CROPS IN THE HUNDREDS OF MILLIONS OF DOLLARS. NOW RESEARCHERS WITH UNIVERSITY OF TENNESSEE'S INSTITUTE OF AGRICULTURE ARE MEASURING SEVERAL METHODS OF DEALING WITH THESE HARMFUL PLANTS. AS CHARLES DENNEY REPORTS, IT COULD BE A MATTER OF TIMING WHEN IT COMES TO EFFECTIVELY FIGHTING WEEDS. FIGHTING WEEDS USED TO BE PRETTY STRAIGHTFORWARD. FARMERS MOSTLY SPRAYED HERBICIDES, AND THAT WAS IT. IN RECENT TIMES THOUGH, IT'S MORE COMPLICATED WITH NATURE FIGHTING BACK. WEEDS LIKE PALMER AMARANTH HAVE EVOLVED OVER TIME TO BECOME RESISTANT TO MANY HERBICIDES. THIS IS CHARLES DENNEY REPORTING.
CARGILL PLANS TO SELL SOME OF THEIR FARM RETAIL STORES:
CARGILL --RELYING MORE ON ITS GRAIN TRADING OPERATIONS--PLANS TO SELL A STRING OF FARM RETAIL STORES ACROSS THE U-S. CALGARY BASED AGRIUM IS THE BUYER, WHICH IS THE PARENT COMPANY OF CROP PROTECTION SERVICES, OR C-P-S. THE STORES ARE IN NEBRASKA, SOUTH DAKOTA, MINNESOTA, WISCONSIN, MICHIGAN AND INDIANA. THE AGRIUM DEAL IS THE LATEST IN 9 OTHER DIVESTMENTS BY CARGILL IN JUST THE PAST TWO YEARS. AGRIUM IS THE LARGEST U-S FARM RETAILER AND SAYS THIS HELPS ACHIEVE THEIR GOAL OF GROWING THEIR NORTH AMERICAN RETAIL BUSINESS, SPECIFICALLY IN THE CORN BELT.
PRESTAGE FARM FINDS A HOME IN IOWA:
 THE PRESTAGE FARM PORK PROCESSING PLANT THAT WAS TURNED DOWN BY MASON CITY, IOWA OFFICIALS HAS FOUND A HOME. PRESTAGE FARMS IS BUILDING A 240 MILLION DOLLAR PLANT IN WRIGHT COUNTY, IOWA. IT'S EXPECTED TO BRING IN ROUGHLY 900 NEW JOBS. THIS COMES AFTER MASON CITY, IOWA TURNED DOWN THE OFFER. PRESTAGE TOLD US AT WORLD PORK EXPO HE'S WAS CONTACTED BY 19 COMMUNITIES IN THE STATE OF IOWA AS WELL AS HALF A DOZEN LOCATIONS IN OTHER STATES FOR THE PLANT.
CROP COMMENTS:
WE'RE FEATURING 'THE NEXT GENERATION' OF FARMERS IN THIS MORNINGS CROP COMMENTS. MIKE. GOOD MORNING, CLINTON. LET'S START OFF NEAR THE CANADIAN BORDER IN NORTH DAKOTA. ANNIE ARMSTRONG DEMERS POSTING THIS TO OUR FACEBOOK PAGE OF FUTURE-FARMER, MILES. CORN IS 'SHOULDER HIGH' TO THIS THREE-YEAR-OLD -ALL BY THE FOURTH OF JULY. USDA SAYS 78 PERCENT OF THE STATE'S CORN IS RATED GOOD TO EXCELLENT. AND TAKE A LOOK AT THIS VIDEO FROM MISSOURI FARMER, TERRY DALTON-ALSO FROM OUR FACEBOOK PAGE. HIS 5-YEAR-OLD SON, CODY WANTED TO HELP GRANDPA PLANT SOYBEANS. SO, HE PUT A SINGLE ROW PLANTER ON THE BACK OF A MONTGOMERY WARDS LAWN TRACTOR! DALTON SAYS THE KID ALREADY HAS A LOVE FOR FARMING.
TEASE:
MATT BENNETT OFFERS HIS PERSPECTIVE. FROM DROVERS T-V WE LOOK AT ANXIETY IN THE CALF MARKET. AND DURING THIS POLITICALLY CHARGED YEAR, WE LOOK AT THE EVERGROWING DIVIDE BETWEEN URBAN DWELLERS AND COUNTRY FOLKS.
FROM THE FLOOR OF THE CME:
IN AGRIBUSINESS, IT WAS ANOTHER DOWN DAY FOR GRAINS, WITH SOYBEANS LOSING A DOLLAR IN ONLY TWO DAYS. SO WHAT'S CAUSING THE MASSIVE PRICE DROP? LET'S HEAD NOW TO THE CME FLOOR. I THINK SOYBEANS HAVE AN OPPORTUNITY TO GO STILL LOWER. I THINK OUR FIRST TARGET HERE SHOULD BE ABOUT TEN TWENTY. I THINK THAT CORN AND WHEAT ARE PROBABLY SOMEWHERE IF NOT ON, NEAR, A LOW I THINK WOULD HAVE TO REMEMBER IS THERE'S TOO MUCH INFORMATION FLOWING OUT THERE. THIS IS TODD BUBBA HORWITZ COMING TO YOU FROM THE CME FLOOR IN CHICAGO.
AGRIBUSINESS:
 PRICES HAVEN'T LOOKED SO GOOD THIS WEEK, BUT IT'S NEVER TOO EARLY TO THINK ABOUT 2017. SO, WHAT SHOULD YOUR NEW CROP PRICING STRATEGY BE AT THIS POINT IN THE GAME? TYNE MORGAN FINDS OUT FROM MATT BENNETT IN THIS MORNING'S ANALYSIS.
MATT BENNETT BENNETT CONSULTING JOINING US HERE FOR ANALYSIS HAD AND WE LOOK AT THIS RALLY THAT WE DID NOT EXPECT THIS EARLY IN SOYBEANS CORN LOOKING AT ABOUT BREAK EVEN LEVELS HOW MUCH OF THE TWENTY SIXTEEN CROP THE NEW CROP SHOULD THESE PRODUCERS HAVE SOLD WELL THE MAIN THING WE HAVE TO BE THAT WE HAVE THIS SORT OF RALLY, IS THAT WE HAVE TO KEEP PERSPECTIVE. AS YOU KNOW, TWO, THREE MONTHS AGO THROUGHOUT THE WINTER, MOST GUYS WERE SCARED TO DEATH ABOUT WHAT HAPPENED WITH THEIR PROFIT MARGINS FOR 2016 AND THEN YOU GET THREE DOLLARS RALLY IN THE SOYBEAN MARKET AND YOU CANNOT SIT ON YOUR HANDS AND SO WE'VE BEEN TELLING OUR GUYS GOT TO GET AT LEAST TWENTY FIVE, THIRTY, FORTY PERCENT SOLD, WHATEVER YOU'RE COMFORTABLE WITH, OF COURSE HAVE THOSE PEOPLE THAT HAVE CROP INSURANCE. BECAUSE I DON'T WANNA BE CRAZY HERE. BUT BOTTOM LINE
TEASE:
WE GOT A TREND ACCELERATION COMING OUT OF THE FOURTH OF JULY. WHAT DOES IT MEAN FOR UPCOMING PRICE ACTION? WE'LL TALK ABOUT IT IN PROFARMER'S PROFIT BRIEFING FRIDAY ON AGDAY.
NATIONAL WEATHER:
WELCOME BACK TO AGDAY WITH MIKE HOFFMAN. AS WE LOOK AT WHERE THE FRONT POSITIONS ARE, WE WONDER WHAT FOLKS LIKE IN MICHIGAN WHO HAVE BEEN PRETTY DRY THIS YEAR THEY HAVE ANY CHANCE OF RISK. I KNOW, A LOT OF THOSE COMPLEXES BEEN GOING ON FROM IOWA, ILLINOIS, SOUTHERN INDIANA AND FARTHER IN THE NORTH YOU GET, THE DRIER IT'S BEEN. SO THERE ARE SOME CHANCES BUT NOTHING BIG SHOWING UP ON OUR COMPUTER MODEL RIGHT NOW SO START OFF THIS MORNING THE THREE AREAS OF LOW PRESSURE ACROSS THE NORTHERN TIER OF STATING FROM WEST TO EAST AND THE TYPICAL AREA OF LOW PRESSURE IN THE SOUTHWEST BUT THAT'S JUST KIND OF A HEAT LOW BRINGING UP SOME AFTERNOON VARIETY POP-UP SHOWERS AND THUNDERSTORMS WILL BE THE FOCUS IN ESPECIALLY ALONG THE FRONTS. LET'S PUT THE MAPS INTO MOTION. YOU CAN SEE OUR COMPUTER MODEL SHOWING ONE BATCH OF THUNDERSTORMS COMPLEX OF THUNDERSTORMS SHOWS MOVING OFF THE MIDATLANTIC AS WE HEAD THROUGH LATER ON TODAY WILL BE SCATTERED SHOWERS AND THUNDERSTORMS FROM REALLY FROM THE SOUTHEAST TO THE UPPER MIDWEST AND ALL DEPENDS ON WHERE THESE COMPUTER OR WHERE THE ACTUAL THUNDERSTORM COMPLEXES OCCUR, NOT NECESSARILY EXACTLY WHERE A COMPUTER MODEL IS SHOWING THEM.
REGIONAL WEATHER:
THAT'S A LOOK ACROSS THE COUNTRY NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS WHEN THE TWO SIGNERS ARE FIRST OF ALL SUNNY HOT AND RATHER HUMID HIGH NEAR ONE HUNDRED MITCHELL SOUTH DAKOTA PARTLY SUNNY COMFORTABLY WARM HIGH AROUND EIGHTY DEGREES IN PORTSMOUTH OHIO HOT AND HUMID THE SHOWERS THUNDER FROM A LIKELY HIGH NINETY ONE.
TEASE:
PLENTY MORE AHEAD ON AGDAY INCLUDING A LOOK AT ANXIETY IN THE CALF MARKET. OUR PARTNERS AT DROVERS HAVE THE INSIGHT. PLUS WE LOOK AT THE SEPARATION OF CITY VERSUS COUNTRY...AND HOW IT PLAYS OUT DURING THIS POLITICALLY CHARGED YEAR.
DROVER’S TV:
TODAY ON DROVER'S TV...ANXIETY CONTINUES OVER CALF MARKETS. PRICES DECLINES CONTINUE TO EXCEED MANY ANALYST EXPECTATIONS FOR 2016. USDA AUCTION PRICES FOR CALVES ARE DOWN 33 PERCENT SINCE JANUARY. YEARLING VALUES ARE OFF 30 PERCENT. MUCH OF THE VOLATILITY DRIVEN FROM CHICAGO WHERE FUTURES PRICES HAVE BEEN AT A DISCOUNT TO CASH MARKETS FOR MOST OF THE YEAR. BUT THAT DISCREPANCY HAS MANY WONDERING IF MARKETS ARE OVERSOLD...ESPECIALLY AS FEEDER CATTLE PRICES REBOUNDED LAST WEEK WITH AUCTION AVERAGES 2 TO 7 DOLLARS PER HUNDRED HIGHER.
SAUDI ARABIA TO ACCEPT AMERICAN BEEF:
ON THE LIVESTOCK FRONT, SAUDI ARABIA ANNOUNCING IT'S REOPENING MARKETS TO U.S. BEEF AFTER A FOUR-YEAR BAN. THE BAN PUT IN PLACE DUE TO CONCERNS ABOUT BSE, OR MAD COW DISEASE. THE COUNTRY PLANNING TO IMMEDIATELY ALLOW BEEF IMPORTS FROM CATTLE LESS THAN 30 MONTHS OLD. THE U.S. EXPORTED MORE THAN $31 MILLION IN BEEF PRODUCTS TO SAUDI ARABIA AS RECENTLY AS 2011, JUST PRIOR TO THE BAN GOING INTO PLACE. A NEW STUDY FROM RESEARCHERS AT THE CENTERS FOR DISEASE CONTROL AND PREVENTION--ROLLING OUT DETAILS FROM A NEW STUDY SAYING THAT CONSUMERS WHO EAT A LOT OF SUBSIDIZED FOODS--SO CORN SOY, WHEAT, DAIRY AND MEATS--HAVE A GREATER CHANCE OF DEVELOPING HEALTH PROBLEMS LIKE HIGHER CHOLESTEROL, BEING OVERWEIGHT AND OTHERS. LIKELY TO INFLUENCE THE NEXT FARM BILL DEBATE THE STUDY IS CALLING ON FEDERAL SUBSIDY POLICY TO MORE CLOSELY FOLLOW FEDERAL NUTRITION GUIDELINES.
TEASE:
WHEN WE COME BACK -WE LOOK AT THE DEEP CHASM THAT OFTEN DIVIDES CITY FOLKS AND FARM FAMILIES WHEN IT COMES TO HOW WE DECIDE ON ELECTION DAY.
IN THE COUNTRY:
THERE ARE FEW DIVIDES IN THE U.S. GREATER THAN THAT BETWEEN RURAL AND URBAN PLACES. TOWN AND COUNTRY REPRESENT NOT JUST THE POLES OF THE TWO POLITICAL PARTIES, BUT DIFFERENT ECONOMIC REALITIES THAT ARE TRANSFORMING THE 2016 PRESIDENTIAL ELECTION. PETER BANDA HAS OUR STORY ON THE GREAT DIVIDE. SOME 150 MILES FROM DENVER...BILL HENDREN FEEDS GOATS, DUCKS AND HORSES TO STAY AT THIS SMALL FARM COTTAGE. HE PREVIOUSLY EARNED A LIVING AS A HANDYMAN.. EVERYTHING FROM PAINTING TO PLUMBING. "WHEN MY PICKUP TRUCK GOT STOLEN, THAT LINE OF WORK STOPPED.'' WITHOUT TRANSPORTATION... HENDREN STRUGGLES TO GET BY.
CLOSING:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR TYNE MORGAN AND MIKE HOFFMAN, I'M C-J GRIFFITHS. HAVE A GREAT DAY.
PROMO:
I'M CLINTON GRIFFITHS. WHAT HAPPENED IN THE GRAIN MARKETS? AND WHAT WILL IT TAKE TO FORGE A RECOVERY? OUR PARTNERS AT PRO FARMER HAVE SOME IDEAS. CATCH THE PRO FARMER PROFIT BRIEFING FRIDAY ON AGDAY.

 

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