AgDay Daily Recap -June 3, 2016

June 3, 2016 02:57 AM
 

TODAY ON AGDAY
JUNE 3, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY -ATRAZINE DEEMED UNSAFE? EPA COMES OUT WITH A DRAFT REPORT, SPARKING A FURY OF REACTIONS FROM CORN GROWERS AND CHEMICAL MAKERS. OUR JUNE MILK FEATURE SHOWS US TO A FARMER WHO SAYS SOME TECHNOLOGY ISN'T REALLY NEEDED..."ABOUT EVERYONE OWNS A CELL PHONE THESE DAYS BUT WE'RE INTRODUCING YOU TO ONE SUCCESSFUL NEW YORK DAIRY FARMER WHO DOESN'T AND WE'RE SHARING SOME OF HIS MARKETING TECHNIQUES AHEAD ON AGDAY." IN AGRIBUSINESS, A STRONG START TO THE CORN CROP, BUT HOW LONG WILL THE RIDE LAST? YOU KNOW THE HISTORICAL TREND IS THAT YOU START STRONG AND THEN IT KIND OF FADES WHEN YOU GET TO MID SUMMER IT'S OUR PROFARMER PROFIT BRIEFING. AND WHERE HEADING TO THE LAND DOWN UNDER WHERE COFFEE IS QUINCHING THIS MUSHROOM'S CROP THIRST, BUT FROM THE GROUND UP.
ATRAZINE LIKELY HARMFUL TO ENVIRONMENT:
GOOD MORNING I'M TYNE MORGAN, IN FOR CLINTON GRIFFITHS. EPA SAYS ONE OF THE NATION'S MOST USED CORN AND SORGHUM HERBICIDES THAT'S BEEN AROUND FOR 50 YEARS COULD HARM THE ENVIRONMENT. AND NOW THE MAKER OF THE CHEMICAL IS FIRING BACK. EPA COMING OUT WITH ITS DRAFT ECOLOGICAL REPORT ON ATRAZINE THURSDAY. THE AGENCY FOUND THE AMOUNT OF ATRAZINE RELEASED INTO THE ENVIONRMENT IN THE U-S IS LIKELY HARMING MOST SPECIES OF PLANTS, BIRDS, MAMMALS, AMPHIBIANS AND REPTILES. UP UNTIL THIS POINT, EPA DETERMINED THE PROPER USE OF ATRAZINE DIDN'T HARM PEOPLE OR THE ENVIRONMENT. BUT THE MAKER OF ATRAZINE, SYNGENTA, SAYS THE MOST RECENT DRAFT REPORT IS FLAWED, WITH NUMEROUS DATA AND METHODOLOGICAL ERRORS.
 CONTROVERSY OVER ATRAZINE IS NOTHING NEW:
SYNGENTA ALSO CLAIMS EPA'S FINDINGS DISCOUNTED SEVERAL RIGOROUS SCIENTIFIC STUDIES OF THE CHEMICAL IN RESPONSE, NATIONAL CORN GROWERS PRESIDENT CHIP BOWLING SAYS, QUOTE, IT IS PARTICULARLY CONCERNING THAT EPA HAS CHOSEN TO BASE THE ECOLOGICAL RISK ASSESSMENT FOR ATRAZINE ON STUDIES THEIR OWN SCIENCE ADVISORY PANEL DEEMED FLAWED JUST FOUR YEARS AGO, END QUOTE. BOWLING SAYS A 2012 STUDY BY THE UNIVERSITY OF CHICAGO FOUND FARMING WITHOUT ATRAZINE COULD COST CORN FARMERS UP TO 59 DOLLARS PER ACRE. THE CONTROVERSY OVER ATRAZINE IS NOTHING NEW, WITH MORE GROUPS PRESSING THE POTENTIAL HEALTH AND EVIRONMENTAL IMPACTS. IN 2012, SYNGENTA SETTLED A 105 MILLION DOLLAR CLASS ACTION LAWSUIT IN THE MIDWEST, WHEN WATER DISTRICTS CLAIMED ATRAZINE CONTAMINATED THEIR WATER SUPPLIES. WHILE THE GROUPS WERE AWARDED THE MONEY, NO ADMISSION WAS MADE THAT ANY HARM HAD BEEN DONE TO THEM.
WITHDRAWAL OF ATRAZINE COULD DECREASE CORN YIELDS:
A RECENT STUDY BY THE ATRAZINE BENEFITS TEAM FOUND THE WITHDRAWAL OF ATRAZINE WOULD DECREASE YIELDS BY 4 POINT 4 PERCENT. AND THAT WOULD EQUATE TO AN 8 PERCENT SPIKE IN CORN PRICES. THE PUBLIC COMMENT PERIOD OF EPA'S DRAFT REPORT IS OPEN FOR 60 DAYS AFTER THE FEDERAL REGISTER PUBLISHES THE REPORT.
SOYBEAN RALLY:
 SOYBEAN PRICES SURGING TO LEVELS THE COMMODITY HASN'T SEEN IN 21 MONTHS. THAT'S AS THE FRONT MONTH CONTRACTS FLEW PAST THE 11 DOLLAR MARK THURSDAY. ANALYSTS SAY THERE'S NO REAL FUNDAMENTAL REASON FOR THE RALLY. SOME CAN POINT TO HINTS OF BETTER EXPORT NUMBERS, BUT THE PRICE MOVE IS LARGELY FUELED BY FUND BUYING. AS WE ENTER A NEW MONTH, THE FUNDS FIND NEW MONEY, AND SOYBEANS IS THEIR COMMODITY OF CHOICE.
 BRAZIL ECONOMY FACES RECESSION, AIDS SOYBEAN PRICES:
WELL, ONE FACTOR DEFINITELY NOT HURTING SOYBEAN PRICES IS BRAZIL. THEIR ECONOMY IS SPIRALING EVEN DEEPER INTO RECESSION. NEW NUMBERS RELEASED THIS WEEK SHOWS THE ECONOMY SHRANK 5 POINT 4 PERCENT IN THE FIRST QUARTER OF THE YEAR. BUT THIS IS BETTER THAN EXPECTED, AS FORECASTS POINTED TO THE ECONOMY SHRINKING EVEN MORE THAN IT DID. JUST LAST MONTH, PRESIDENT DILMA ROUSEFF WAS TEMPORARILY SUSPENDING BY CONGRESS IN AN IMPEACHMENT VOTE. HER VICE PRESIDENT IS CURRNETLY INTERIM PRESIDENT.
COTTON CONSUMPTION EXPECTED TO OUTPACE PRODUCTION, WILL IT BE ENOUGH TO EAT THROUGH STOCK PILES?:
 GLOBAL COTTON CONSUMPTION IS NOW EXPECTED TO OUTPACE PRODUCTION THIS YEAR. BUT IT WON'T BE ENOUGH TO EAT THROUGH THE MASSIVE STOCKPILES SITTING AROUND THE WORLD RIGHT NOW. WORLD COTTON CONSUMPTION IS PEGGED AT 110 POINT 8 MILLION BALES FOR THIS MARKETING YEAR. THAT'S MODEST GROWTH YEAR OVER YEAR WITH COUNTRIES LIKE CHINA, INDIA AND PAKISTAN EXPECTED TO TO ACCOUNT FOR 62 PERCENT OF THOSE SALES. COMPARING THAT TO THE PRODUCTION SIDE OF THE LEDGER... PRODUCTION IS PEGGED AT 104 POITN 4 MILLION BALES. THAT'S A MODEST INCREASE AFTER FARMERS SAW MAJOR PRODUCTION DECLIENS LAST YEAR. THE FORECAST MEANS WORLD ENDING STOCKS COULD DROP 6 PERCENT, WHICH WILL ONLY PUT A SMALL DENT IN THE 96 MILLION BALE STOCKPILED TODAY. COTTON FARMERS ARE FACING MORE THAN JUST LOW PRICE CHALLENGES THIS YEAR.
FLOODING:
JEREMY LOUDER FARMS AROUND STANTON, TEXAS. LAST WEEK HE BATTLED HAIL, THIS WEEK, FLOODING. JEREMY TELLS AGDAY HE RECEIVED 4 AND A HALF INCHES OF RAIN IN ONLY 2 AND A HALF HOURS. THE NATIONAL WEATHER SERVICE OUT OF LUBBOCK ALSO CAPTURED THE 3 TO 5 INCHES OF RAIN THAT FELL ACROSS THE AREA WEDNESDAY, CAUSING CARS TO BE STRANDED AND ROADS TURNING INTO WHAT LOOKS LIKE LAKES. I WAS IN THAT AREA IN APRIL, WHERE AS YOU CAN SEE, THINGS WERE QUITE A BIT DRIER. FARMERS TOLD ME DUE TO THE LOW COTTON PRICES AND WEAK SAFETY NET THIS YEAR, THE ONLY WAY TO MAKE MONEY IS TO OUTYIELD IT. BUT THAT SEEMS TO BE OFF TO A ROCKY START, ESPECIALLY CONSIDERING THE RECENT RAINS WILL ADD ANOTHER LAYER OF COSTS WITH MORE WEED PRESSURE.

CROP COMMENTS:
IT'S A GAMBLING GAME FARMING IN WEST TEXAS. WE JUST SHOWED YOU FLOODING IN THE AREA, BUT THIS VIDEO FROM THE NATIONAL WEATHER SERVICE IN LUBBOCK SHOWS A HABOOB SWALLOWING THE AIRPORT SUNDAY. IT HAPPENED IN ONLY 6 SECONDS. WOW. WELL, MIKE HOFFMAN HAS MORE CROP UPDATES FOR US. GOOD MORNING, MIKE. LET'S START OFF IN WESTSIDE IOWA, GARY VETTER IS STAYING BUSY IN THE FIELD. HE SAYS THE WHEAT IN THE AREA IS SEEING SOME RUST, BUT SILEAGE LOOKS PRETTY GOOD! GARY SAYS THE AREA HAS SOME PLENTY OF GOOD MOISTURE FOR PLANTING SOYBEANS. MOVING OVER TO EASTERN IOWA, A VIEWER POSTED ON AGWEB, THE AREA HAD SOME MUCH NEEDED RAIN. THE LIGHT SHOWERS ARE HELPING WITH SOME EMERGENCE PROBLEMS IN THE CORN AND SOYBEANS. USDA SAYS 77 PERCENT OF IOWA'S CORN CROP IS RATED GOOD TO EXCELLENT. AND TAKING A LOOK AT THE WEATHER MAP THE DROUGHT MONITOR SHOWS SOME ISSUES NOW CROPPING UP IN PARTS OF ALABAMA AND GEORGIA WE'LL HAVE DETAILS ON THAT WITH YOUR FORECAST BUT NOW HERE ARE SOME HOMETOWN TEMPS
MILK MAGAZINE:
 AGDAY STARTED PARTNERING WITH OUR COUSINS AT FARM JOURNAL'S MILK MAGAZINE TO PROFILE SOME OF THE MOST FORWARD-THINKING DAIRY FARMERS IN THE COUNTRY.IN TODAY'S COVER STORY, WE'RE OFF TO CLIFTON SPRINGS, NEW YORK TO MEET A DAIRYMEN WHO BELIEVES THE KEY TO BEING SUCCESSFUL ISN'T BEING THE MOST INNOVATIVE, BUT SIMPLY PUTTING HIS PEOPLE FIRST. BETSY JIBBEN HAS THAT STORY. MANY DAIRY FARMERS SHARE SIMILIAR CHALLANGES."IT'S MAKING ENDS MEET, TRYING TO PAY YOUR BILLS,"BUT THAT'S WHERE THE SIMILIARITIES END FOR NEW YORK DAIRY PRODUCER, REPORTING IN CLIFTON SPRINGS, NEW YORK, I'M BETSY JIBBEN. )
TEASE:
THANKS BETSY. MUELLER SAYS HE DOESN'T ACCEPT GOVERNMENT PAYMENTS AND THINKS IT HASN'T HURT THE OPERATION. UP NEXT, OUR FRIENDS AT PROFARMER LOOK AT THE NEXT OBSTACLE FOR THIS YEAR'S CORN CROP--WEATHER. AND LATER, WE'RE OFF TO THE LAND DOWN UNDER WHERE COFFEE IS THESE MIGHTY MUSHROOM'S FERTILIZER OF CHOICE.... MINE TOO... THAT'S LATER ON AGDAY.
PROFARMER:
THE NATION'S CORN CROP -AND MOST OF THE SOYBEANS -ARE NOW IN THE GROUND. IN TODAY'S PRO FARMER PROFIT BRIEFING, CHIP FLORY AND BRIAN GRETE DISCUSS WHAT LIES AHEAD FOR SUMMERTIME MARKET ACTION. WELL, BRIAN USDA DELIVERED THE FIRST CROP CONDITION REPORT FOR CORN FOR 2016 OF LAST WEEK AND STARTING OUT PRETTY STRONG U.S. CORN CROP, WHAT WAS IT, 72 PERCENT GOOD TO EXCELLENT?> 72 PERCENT GOOD TO EXCELLENT, 2 PERCENT POINTS BELOW A YEAR AGO, SO NOT QUITE AS STRONG AS WHAT LAST YEAR'S START WAS, BUT REALLY HISTORICALLY PRETTY STRONG.>
PITCH TO PROFARMER:
WHERE CAN YOU TALK TOMORROW'S MARKETS TODAY? JOIN CHIP FLORY FIVE DAYS A WEEK FOR MARKET RALLY RADIO -ALL MARKETS, ALL THE TIME. )
NATIONAL WEATHER:
WELCOME BACK METEOROLOGIST MIKE HOFFMAN WITH US NOW. MIKE, EARLIER IN THE SHOW WE TALKED ABOUT FLOODING IN TEXAS, HOW COULD IT BE FLOODING IN TEXAS BUT WE'RE HAVING SEVERE DRYNESS IN THE SOUTHEAST? IT'S THE CUT-OFF LOWS WE'VE BEEN SEEING THE PAST 3 OR 4 MONTHS, AND WHEN THEY SIT IN ONE SPOT, THAT'S WHAT HAPPENS. WITH ALL THE MOISTURE IN TEXAS, OF COURSE, NOT A LOT MADE IT INTO THE PARTS OF THE SOUTHEAST.
DROUGHT MONITOR:
LET'S GO BACK FOUR WEEKS ON THE DROUGHT MONITOR. YOU CAN SEE HOW IT STARTED OFF. WE ALREADY STARTED TO SEE THE DRYNESS DEVELOPING IN THE SOUTHERN APPALACHIANS. WE WERE GETTING RID OF IT IN THE SOUTH CENTRAL PLAINS. COMING THIS WAY FROM FOUR WEEKS AGO, YOU CAN SEE HOW WE'RE ALMOST GETTING RID OF EVERYTHING BUT WE'VE EXPANDED SOUTHWESTWARD INTO PARTS OF ALABAMA AND MISSISSIPPI WITH SOME OF THE DRY AREAS IN JUST CURRENTLY WE HAVE OUR BRAND NEW AREA OF SEVERE DROUGHT IN NORTHEASTERN PORTIONS OF ALABAMA, NORTHWESTERN GEORGIA.
REGIONAL WEATHER:
THAT'S A LOOK ACROSS THE COUNTRY. NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS. WE'LL HEAD TO MERCED, CALIFORNIA,SUNNY AND VERY WARM. THE HIGH TEMPERATURE IS 102. MITCHELL, SOUTH DAKOTA IS PARTLY SUNNY WITH A THUNDERSTORM OR TWO LIKELY. THE HIGH IS 73. AND HUNTSVILLE, ALABAMA IS WARM AND HUMID. CLOUDS AND SUNSHINE. THE HIGH IS AROUND 88.
TEASE:
NEXT WE VISIT A GREAT AMERICAN BARN FROM THE HOOSIER STATE. AND WHAT DOES A CUP OF COFFEE AND A MUG OF MUSHROOMS HAVE IN COMMON? WE'LL SERVE-UP THE ANSWER, LATER, ON IN THE COUNTRY.  GET THE ROOTS YOUR CROPS NEED, BY GETTING RADIATE FIRST. VISIT LOVELAND PRODUCTS DOT COME SLASH RADIATE. SEE YOUR CPS DEALER TODAY.
GREAT AMERICAN BARNS:
TODAY'S GREAT AMERICAN BARN TAKES US TO NORTHERN INDIANA....AND A TRANQUIL SETTING CALLED "SHADY REST".  THE INDIANA BARN FOUNDATION TOLD US ABOUT THE THE SHADY REST BARN. IT'S A MULTI-PURPOSE TIMBER FRAMED BARN DERIVED FROM THE ENGLISH BARN FORM. IT SITS OFF THE GROUND ON A RUBBLE STONE FOUNDATION, ONCE GIVING LIVESTOCK PLENTY OF ROOM DOWN BELOW. THE GABLE ROOF IS REMINISCENT OF EARLIER ENGLISH BARNS, AS ARE THE LARGE DOOR OPENINGS ON THE EAVE SIDES. THE LOUVERED WINDOWS AND VENTILATED CUE-POE-LA ARE CONFIGURED TO ALLOW FOR MAXIMUM VENTILATION NECESSARY FOR GRAIN AND HAY STORAGE.
IN THE COUNTRY:
IT MAY HAVE SOUNDED LIKE A CRAZY STUNT AT FIRST, BUT NOW TWO AMBITIOUS AUSSIES ARE SHOWING THAT USED COFFEE GROUNDS CAN HAVE A SECOND LIFE. THE TWO ENTREPRENEURS STARTED THE FIRST URBAN MUSHROOM FARM IN WESTERN AUSTRALIA. WHAT MAKES THE FUNGI BUSINESS SO UNIQUE? THEY'RE GROWING THE MUSHROOMS IN USED COFFEE GROUNDS. RYAN CREED AND HIS BUDDY JULIAN MITCHELL BUILT THEIR "FARM" IN UNASSUMING SHIPPING CONTAINERS.
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 WEEKEND.
PROMO:
I'M TYNE MORGAN, MONDAY ON AGDAY WE START A NEW WEEK WITH A LOOK AT GRAIN MARKETS IN CHICAGO. PLUS, MIKE HOFFMAN WILL LET US KNOW IF CROPS WILL GET SUMMER HEAT. AND MACHINERY PETE IS HERE WITH HIS WEEKLYLOOK AT USED EQUIPMENT, WATCH US WEEKDAYS ON ADAY.

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