AgDay Daily Recap -June 22, 2016

June 22, 2016 02:57 AM
 

TODAY ON AGDAY
JUNE 22, 2016


OPENING HEADLINES:
TODAY ON AGDAY -CHINA'S APPETITE FOR U-S PORK IS STRONG. SEE HOW THAT DEMAND IS BOOSTING PRICES. "I'M BETSY JIBBEN. GRAPE HARVEST IS UNDERWAY IN COACHELLA VALLEY CALIFORNIA. WE TALKED TO INDUSTRY LEADERS ABOUT THE CROP, HEAD ON AGDAY." WE FOLLOW TABLE GRAPE HARVEST -FROM FARM TO TABLE -AHEAD OF THE JULY 4TH HOLIDAY. IN AGRIBUSINESS....HOW WILL SOYBEANS LAND IN THE ACREAGE BATTLE? WHAT DID SOYBEANS DO THE WHOLE MONTH OF MARCH THEY RALLIED . SEE HOW YOUR SMARTPHONE MAY HELP ASTHMA SUFFERERS ON THE FARM.
U.S. PORK EXPORT INCREASE TO CHINA ANTICIPATED TO CONTINUE:
GOOD MORNING I'M TYNE MORGAN. CLINTON GRIFFITHS IS ON ASSIGNEMENT.  CHINESE PORK IMPORTS HAVE NEARLY DOUBLED SO FAR THIS YEAR, BOOSTING PRICES, AND THERE'S NO SIGNS OF THAT SLOWING ANYTIME SOON. U-S DEPARTMENT OF AGRICULTURE SAYS THE WAVE OF EXPORTS TO CHINA IS LIKELY TO PERSIST UNTIL AT LEAST THE END OF 2016, AND EVEN SPILLING INTO 2017.. THAT'S AS CHINESE PRODUCERS STRUGGLE TO MEET DOMESTIC DEMAND. CHINESE PORK PRODUCTION IS HURTING DUE TO ENIVIRONMENTAL RESTRICTIONS, INCLUDING POLLUTION. SO FAR THIS YEAR, CHINESE PORK IMPORTS HAVE NEARLY DOUBLED, TO 892 MILLION POUNDS.
CHEM CHINA CONTINUES QUEST TO ACQUIRE SYNGENTA:
MEANWHILE, AS ANOTHER CHINESE BASED COMPANY CHEM CHINA CONTINUES ITS QUEST TO BUY SYNGENTA, IT'S SECURED MORE INVESTMENT MONEY. THE COMPANY SAYS IT NOW HAS A 5 BILLION DOLLAR INVESTMENT FOR CITIC, ONE OF CHINA'S LARGEST STATE-OWNED CONGLOMERATES. THAT WOULD HELP CHEMCHINA REDUCE ITS RELIANCE ON LOANS TO FINANCE THE DEAL. THE CHEMA CHINA, SYNGENTA ACQUISTIION IS UNDERGOING A GREAT DEAL OF REGULATORY SCRUTINY, BUT STILL PLAN ON COMPLETEING THE DEAL BY THE END OF THE YEAR. USDA IS DIPPING INTO DISCRETIONARY FUNDS TO HELP FINANCE FARMERS STILL TRYING TO SECURE OPERATING LOANS.
AG SECRETARY PLANS TO AID F-S-A WITH 500 MILLION DOLLARS:
AGRI-PULSE REPORTS AG SECRETARY TOM VILSACK PLANS TO USE 500 MILLION DOLLARS TO HELP F-S-A SURVIVE A PROJECTED DEFICIT. THE 2 BILLION DOLLARS IN FSA'S BUDGET IS EXPECTED TO RUN OUT BEFORE THE FISCAL YEAR COMES TO A CLOSE SEPTEMBER 30. THIS COMES AS FARMERS AND RANCHERS ARE SEEKING OPERATING LOANS TO WEATHER THE ECONOMIC HEADWINDS THEY FACE.
MILK PRODUCTION CLIMBS:
 USDA SAYS DOMESTIC MILK PRODUCTION CONTINUES TO CLIMB. THE PRODUCTION ESIMATE FOR MAY IS 18-POINT-SIX BILLION POUNDS. THAT'S UP ONE-POINT-TWO PERCENT FROM MAY OF 2015. STATE BY STATE, CALIFORNIA DROPPED BY NEARLY THREE PERCENT, WISCONSIN CLIMBS FOUR PERCENT, NEW YORK'S UP NEARLY FIVE PERCENT. AND SOUTH DAKOTA CONTINUES ITS AGGRESSIVE GROWTH.... WITH A NEARLY TEN PERCENT MONTHLY GAIN. NATIONALLY, PRODUCTION PER COW CLIMBED 23 POUNDS PER COW FROM A YEAR AGO.
CROP COMMENTS:
CROP COMMENTS ARE COMING FROM "M' STATES ACROSS THE NORTHERN U-S. MIKE HOFFMAN JOINS US FROM THE AGDAY WEATHER-CENTER. MIKE. GOOD MORNING TYNE. WE'RE STARTING IN THE NORTHERN-MOST COUNTY IN MAINE. A CROP REPORTER SAYS RECENT RAIN AND HEAT HAS CREATED IDEAL GROWING CONDITIONS. AND FARMERS ARE LOOKING AT THE POSSIBILITY OF A LARGE HAY CROP. NOW TO MICHIGAN -THE STATE "NASS' OFFICE SAYS A LARGE CROP OF TART CHERRIES ARE EXPECTED IN THE NORTHWEST AREA OF THE STATE. MEANWHILE, SWEET CHERRY HARVEST HAS STARTED IN THE SOUTHWEST. BIRD PRESSURE IS SAID TO BE "HIGH" ACROSS THE STATE AS THE FRUIT GAINS SIZE AND COLOR. IN MINNESOTA -THE BARLEY CROP IS STRUGGLING A BIT. IT SAW A SIX POINT  DROP IN THE CONDITION RATING. 65-PERCENT IS STILL GOOD TO EXCELLENT. 40PERCENT IS HEADED, WHICH IS TWICE THE NORMAL PACE. THE STATE GROWS ABOUT 100-THOUSAND ACRES OF BARLEY. AND FINALLY TO MONTANA -72-PERCENT OF SPRING WHEAT AND 64-PERCENT OF WINTER WHEAT AND IS GOOD TO EXCELLENT.
CALIFORNIA GRAPE HARVEST:
TABLE GRAPE HARVEST IS COMING TO A CLOSE IN COACHELLA, CALIFORNIA... WITH ROUGHLY A WEEK LEFT BEFORE THE END OF THE SEASON. NOW THE VALLEY GENERALLY HAS A 'HEAD START' BEFORE OTHER WELL-KNOWN GRAPE AREAS LIKE THE SAN JOAQUIN VALLEY. THIS MORNING, BETSY JIBBEN SHOWS US HOW THE EARLY HARVEST IS GOING, FROM FARM TO TABLE. UNDER A CALIFORNIA SUN, WORKERS ARE BUSY, PICKING, HARVESTING AND LOADING CARTONS OF TABLE GRAPES EARLY IN THE MORNING. REPORTING IN COACHELLA, CALIFORNIA, I'M BETSY JIBBEN.
TEASE:
THANKS, BETSY. STILL AHEAD, MORE FROM OUR PRODUCE PARTNERS, INCLUDING WHICH PRODUCE SHOULD BE IN PLENTIFUL SUPPLIES FOR THE FOURTH OF JULY WEEKEND. HOW BIG OF A SURGE COULD WE SEE IN SOYBEAN ACRES OUT OF USDA NEXT WEEK? THAT'S THIS MORNING'S ANALYSIS. ABOUT EVERY 20 SECONDS SOMEONE IS RUSHED TO AN EMERGENCY DEPARTMENT TO BE TREATED FOR ASTHMA AND ABOUT HALF THE TIME IT'S A CHILD. LATER WE'LL SHOW YOU HOW YOUR SMART-PHONE COULD HELP REDUCE THOSE TRIPS TO THE E-R.
FROM THE FLOOR OF THE CME:
IN AGRIBUSINESS, IT WAS A MAJOR DOWN DAY ON THE BOARD, WITH THE JULY CORN CONTRACT HITTING LIMIT DOWN. LET'S HEAD TO THE CME FLOOR TO SEE HOW PRICES FINISHED. GRAIN MARKETS SHARPLY LOWER HERE ON TUESDAY, REALLY REACTED TO SOME IMPROVED WEATHER FORECASTS THIS PAST FRIDAY WE HAD GONE HOME BELIEVING THAT THE WEATHER WAS TO BE DRY AND TEMPERATURES ARE GOING TO BE WELL ABOVE NORMAL. THAT FORECAST SHIFTED OVER THE WEEKEND WE HAD A HARD DOWN DAY IN THE CORN MARKET YESTERDAY
AND MONDAY AND TUESDAY WE SAW A LIMIT DOWN TRADE AND SOME OF THE CORN CONTRACT SO VERY VERY UGLY PERFORMANCE. YOU KNOW IT'S STILL TOO EARLY TO SAY WHETHER OR NOT WE'RE GOING TO HAVE A GOOD CORN CROP IN THIS COUNTRY. YOU KNOW USUALLY THE WEATHER MARKETS DON'T GET STARTED UNTIL ABOUT THIS TIME OF YEAR BUT IN A SITUATION HERE WHERE SPECULATIVE LENGTH IN THIS CORN MARKET HAD BECOME EXCESSIVE AND I THINK THAT THIS SHIFT IN THE WEATHER WAS KIND OF A CATALYST FOR SOME LIQUIDATION HERE THIS WEEK. WE HAVE A HIGHER TRADE IN LIVE CATTLE AND THE FEEDER CATTLE MARKET TODAY. I THINK THAT A SHARP RALLY IN THE FEEDER CATTLE MARKET HAD A LOT TO DO WITH THE BIG SELL OFF IN THE CORN MARKET WE USUALLY SEE KIND OF A NEGATIVE CORRELATION THERE WHICH MEANS THAT IF WE GET A BIG MOVE IN THE CORN MARKET, YOU'RE PROBABLY GONNA SEE AN OPPOSITE TYPE MOVE IN THE CATTLE MARKET SO WE'RE SEEING A LITTLE BIT OF THAT. AGAIN, JOE VACLAVIK, BACK WITH A STANDARD GRAIN FOR CME GROUP.
AGRIBUSINESS:
 HERE NOW WITH MATT BENNETT OF BENNETT CONSULTING. MATT WHEN WE TALK ABOUT THESE SOY ACREAGE PROJECTIONS THEY'RE ALL ACROSS THE BOARD RIGHT NOW BUT JUNE 30 USDA WILL THE WILL COME OUT WITH AN UPDATED ACREAGE ESTIMATE WHAT DO YOU THINK WE'RE GOING TO SEE? FIRST OF ALL I WANT TO GO BACK TO THE MARCH REPORT BECAUSE IN MY OPINION I THOUGHT THAT THEY WERE RICH ON CORN ACRES A LITTLE LIGHT ON SOYBEAN ACRES AND THE REASON I THOUGHT THAT IS BECAUSE THOSE WERE TAKEN AS A FIRST OF THE MONTH ALRIGHT WHAT DID SOYBEANS DO THE WHOLE MONTH MARCH THEY RALLY AS WELL AS THE LAST THREE MONTHS SO YOU KNOW IN MY OPINION I THINK THAT THOSE SOYBEAN ACRES SHOULD HAVE BEEN HIGHER TO BEGIN WITH SO I'M GOING TO RACHET MINE UP PROBABLY IN THE EIGHTY FOUR AND A HALF CAMPAIGN MAYBE EVEN A LITTLE BIT MORE
NATIONAL WEATHER:
NOW FOR A CHECK OF WEATHER WITH MIKE HOFFMAN  WELL SHORT TERM IS TO BE SOME VERY HEAVY RAINS ALONG THIS WARM FRONT PROBABLY SEVERE WEATHER PROBABLY FLOODING RAINS IN PLACES SO MAYBE TOO MUCH RAIN O THAT COULD CAUSE SOME PROBLEMS WITH THE MARKETS AS WELL SO THE FOCUS WILL BE ALONG THIS WARM FRONT TODAY AS COMPLEXES OF THUNDERSTORMS DEVELOP AND MOVE SOUTHEAST ALONG NOW TO THE SOUTH OF THE FRONT IN THE NORTHEAST THAT MOE PLEASANT CONDITIONS ACROSS MOST OF THE GREAT LAKES AT LEAST HERE NORTH OF THAT AREA OF THUNDERSTORMS. SO LET'S PUT THE MAPS INTO MOTION YOU CAN SEE OUR COMPUTER MODEL TAKES ONE COMPLEX DURING THE DAY TODAY ACROSS PARTS OF ILLINOIS INDIANA AND IT DIES OFF ACROSS SOUTHERN OHIO THEN AS WE HEAD THROUGH THE LATE AFTERNOON AND EVENING HOURS WILL SEE A RE INTENSIFICATION OF SOME THUNDERSTORMS ALONG THE FRONT AND YOU CAN SEE THAT CLOSE TO THE AREA OF LOW PRESSURE THAT'S PROBABLY THE MAIN THREAT FOR SEVERE WEATHER IN THE MAIN THREAT FOR SOME VERY VERY HEAVY RAINS IN PLACES BUT YOU CAN SEE THAT AREA WAS REALLY JUST KIND OF NARROW FROM THE NORTH CENTRAL PLAINS ACROSS PARTS OF THE OHIO VALLEY
REGIONAL WEATHER:
NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS FOR SALEM OREGON TODAY A MIX OF SUN AND CLOUD HIGH TEMPERATURE OF SEVENTY SIX DEGREES IN WACO TEXAS SUNNY HOT AND HUMID HIGH OF NINETY SIX AND WARSAW INDIANA COUPLE OF STORMS POSSIBLY STRONG OR EVEN SEVERE HIGH AROUND EIGHTY DEGREES
TEASE:
STILL TO COME -PLENTY OF FRESH PRODUCE FOR YOUR JULY 4TH CELEBRATION, DETAILS FROM OUR PARTNERS AT THE PACKER, AND ASTHMA IS A COMMON AILMENT ON FARMS. FIND OUT HOW A SMARTPHONE APP COULD BE PART OF THE TREATMENT.
GMO LABELING:
IN PACKER T-V, THE CLOCK IS TICKING FOR A NATIONAL G-M-O LABELING BILL BEFORE VERMONT'S MANDATORY LAW GOES INTO EFFECT JULY FIRST. AND ACCORDING TO OUR PARTNERS AT THE PACKER, FOOD GROUPS ARE PUSHING THE SENATE TO MAKE A DEAL. THE COALITION FOR SAFE AFFORDABLE FOOD IS PLEADING CONGRESS TO MAKE A DEAL ON THE ISSUE, PREDICTING CHAOS AFTER JULY FIRST IF A NATIONAL STANDARD ISN'T IN PLACE. AS OF JULY FIRST, IF FOOD AND BEVERAGE MANUFACTURERS DON'T COMPLY WITH VERMONT'S LAW, THEY FACE UP TO A 1 THOUSAND DOLLAR FINE PER DAY. EARLIER THIS WEEK, DEMOCRATIC SENATOR DEBBIE STABENOW SAID SHE AND REPUBLICAN SENATOR PAT ROBERTS ARE CLSOE TO DA DEAL. STABENOW SAYS THE TWO ARE NARROWING THE ISSUES SURROUNDING LABELING LEGISLATION, HAVE HAVEN'T SHARED A DRAFT WITH THE SENATE. THE STICKING POINT CONTINUES TO BE WHETHER ON-PACK LABELS SHOULD BE A PART OF A MANDATORY DISCLOSURE SYSTEM.
PLENTIFUL PRODUCE FOR FOURTH OF JULY:
IF YOU'RE IN THE MARKET FOR FRESH PRODUCE THE UPCOMING INDEPENDENCE DAY WEEKEND, THE PACKER SAYS SUPPLIES WILL BE PLENTIFUL. THE PACKER SAYS ON THE LIST OF HIGH VOLUME ITEMS FOR THE SUMMER HOLIDAY INCLUDING CHERRIES, BERRIES, CORN AND WATERMELONS. FOR CHERRIES, THE PACIFIC NORTHWEST IS LOOKING AT A SHORTER HARVEST WINDOWN, BUT AMPLE SUPPLIES, FUELING RETAIL PROMOTIONS LEADING UP TO THE HOLIDAY. A SURPLUS OF BLUEBERRIES IS ALSO EXPECTED IN THE NORTHWEST, AND MICHIGAN HARVEST SHOULD KICK OFF AROUND THE HOLIDAY. RAINS DAMPENED WATERMELON HARVEST IN TEXAS AND FLORIDA. BUT WITH GEORGIA'S HARVEST UNDWEWAY, VOLUMES SHOULD INCREASE BEFORE THE HOLIDAY. AND GEOGRIA'S SWEET CORN IS EXPECTED TO BE A LITTLE LIGHT THROUGH MIDJUNE. THE HEAT AND RAIN HARMED THE CROP AND FARMERS MAY FINISH HARVEST EARLIER THAN NORMAL.
TEASE:
COMING UP, AN APP THAT HAS CHILDREN AND PARENTS BREATHING A BIT EASIER. WE'LL SHOW YOU HOW IT'S HELPING YOUNG ASTHMA PATIENTS, NEXT.
IN THE COUNTRY:
BETWEEN GRAIN DUST, LIVESTOCK AND PESTICIDES, THERE IS NO SHORTAGE OF CAUSES OF ASTHMA ON FARMS AND RANCHES. AND CHILDREN SEEM ESPECIALLY SUSCEPTIBLE. ASTHMA CAN BE CONTROLLED, BUT TOO OFTEN,  CHILDREN DON'T TAKE THEIR MEDICINE IN TIME AND END UP IN THE HOSPITAL. RESEARCHERS SAY YOUR SMARTPHONE MIGHT HELP. CLARK POWELL HAS DETAILS IN THIS REPORT PROVIDED BY NATIONWIDE CHILDREN'S HOSPITAL.  WATCHING 3 YEAR OLD KARMA TAYLOR PLAY, YOU MIGHT THINK THERE IS NOTHING THAT SLOWS HER DOWN. BUT LIKE MORE THAN 6 MILLION1 OTHER CHILDREN IN THE U.S., KARMA HAS ASTHMA -WHICH USED TO GET SO BAD, SHE OFTEN WOUND UP IN THE EMERGENCY DEPARTMENT. AT NATIONWIDE CHILDREN'S HOSPITAL, THIS IS CLARK POWELL  REPORTING. THE APP IS FREE -IF YOU WOULD LIKE TO DOWNLOAD IT, GO TO NATIONWIDECHILDRENS-DOT-ORG-FORWARD SLASH ASTHMA CARE.
CLOSING:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR BETSY JIBBEN AND MIKE HOFFMAN, I'M TYNE MORGAN. HAVE A GREAT DAY.

Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close