AgDay Daily Recap -June 6, 2016

June 6, 2016 02:57 AM
 

TODAY ON AGDAY
JUNE 6, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY -DROUGHT CREEPS INTO IOWA. IS THIS THE SIGN OF MAJOR WEATHER ISSUES TO COME? "I THINK IT'S A LITTLE EARLY TO GET EXCITED ABOUT IT" AND IN TEXAS, IT'S A DELUGE OF RAIN FARMERS ARE BATTLING. BUT ONE IS TURNING A PROBLEM, INTO OPPORTUNITY. IN AGRIBUSINESS, IT'S ALL ABOUT THE DOLLAR...WE MIGHT NOT SEE THAT THAT DOLLAR TURNED BACK AROUND HERE UNTIL THERE'S REAL SIGNS OF POTENTIAL THE FED ACTUALLY RAISING RATES. AND IT'S A BIG FISH TALE IN THE COUNTRY, BUT ONE THAT HAS AN EVEN BIGGER LIFE LESSON.
DROUGHT MONITOR:
GOOD MORNING I'M TYNE MORGAN. DROUGHT IS STARTING TO CREEP INTO THE NATION'S CORN LEADER. WHICH IS A FAR CRY FROM THE PLANTING SEASON EARLIER THIS SPRING. THE LATEST ROUGHT MONITOR SHOWS DRY CONDITIONS HAVE NOW ENTERED THE PICTURE IN IOWA. AS OF THURSDAY, ELEVEN PERCENT OF THE STATE IS CONSIDERED ABNORMALLY DRY. IT'S PRIMARILY IN TWO PATCHES -IN THE NORTHEAST CORNER AND IN THE SOUTH-CENTRAL PART OF THE STATE. DURING OUR I-80 PLANTING TOUR, WE STOPPED IN SEVERAL IOWA LOCATIONS AS FARMERS PLANTED THIS YEARS CROP. IT RANGED FROM BEING TOO WET, TO OTHERS HAVING IDEAL CONDITIONS. BUT THE DRYNESS DOES NOT MEAN THE STATE IS IN DROUGHT.
POTENTIAL BAYER MONSANTO MERGER:
A NEW BLOOMBERG REPORTS CLAIMS BAYER HAS SECURED 63 BILLION DOLLARS IN FINANCING FOR A MONSANTO TAKEOVER BID. THIS IS UP FROM THE 62 BILLION OFFER LAST MONTH. THE SHORT TERM LOANS ARE REPORTED TO COME FROM CREDITORS SUCH AS BANK OF AMERICA, GOLMAN SACHS, JP MORGAN CHASE AND MORE. THE BRIDGE LOAN ALSO INCLUDES AN OPTION TO INCREASE, SHOULD BAYER DECIDE TO UP THE OFFER AGAIN. AS WE REPORTED, WHEN MONSANTO REJECTED BAYER'S ORIGINAL BID, THE COMPANY SAID IT WAS OPEN TO FURTHER MERGER TALKS, JUST ONES THAT ACCURATELY CAPTURED THE COMPANY'S VALUE.
BRAZIL PROVIDES CREDIT TO ITS FARMERS:
[AS BRAZIL CONTINUES TO FALL DEPER INTO RECESSION, THE GOVERNMENT IS NOW STEPPING IN, AND FINANCING FARMERS. BRAZIL'S GOVERNMENT SAYS IT'S TRYING TO DIG OUT OF RECESSION BY PROVIDING NEARLY 6 BILLION DOLLARS IN ADDITIONAL CREDIT TO FARMERS AND RANCHERS. THE MONEY IS TO ENTICE EQUIPMENT PURCHASES AND OTHER INVESTMENTS, AND WILL GO INTO EFFECT JULY FIRST. A REPORT SHOWS BRAZIL'S ECONOMY SANK 5 POINT 4 PERCENT LAST QUARTER. PROFARMER EDITOR BRIAN GRETE DOESN'T THINK FARMERS WILL HOLD ONTO MORE GRAIN AMID THE ECONOMIC UNCERTAINTY. BUT WHERE THE U-S WILL BENEFIT IS ON THE EXPORT SIDE OF THINGS.
AND GRETE SAYS THAT OPENS THE DOOR FOR MORE SHIPMENTS FROM THE U-S.
RICE:
 THE WORLD'S LARGEST RICE EXPORTER IS EXPECTED TO FINALIZE A DEAL WITH INDONESIA SOON. INDIA'S TRADE SECRETARY SAYS THE DEAL IS DESPITE RICE PRICES FIRMING UP FOLLOWING DROUGHT IN KEY PRODUCING COUNTRIES. BUT EXPORT NEWS IS ALSO BENEFITTING U-S FARMERS, HELPING PRICE SHOOT 30 CENTS HIGHER THURSDAY. THERE IS SOME TALK THAT IRAQ IS TENDING FOR RICE AND THAT THE U-S HAS AN EXCELLETN CHANCE TO CAPTURE SOME OF THAT BUSINESS. CERTAINLY OUR PRICES ARE CHEAP ENOUGH WHEN COMPARED TO SAY THAILAND OUR PRICES HAVE BEEN VERY COMPETITIVE WITH THAI RICE. AND TURNING OUT TO BE BETTER AS PRICES SEEN IN ARGENTINA AND BRAZIL WHERE THE'VE SEEN SEVERE WEATHER PROBLEMS. REALLY TOO MUCH RAIN...> HE SAYS THE DELUGE OF RAINS IN TEXAS AND LOUISIANA IS TAKING ITS TOLL ON THE RICE CROP.
CROP CONDITIONS:
USDA WILL UPDATE CROP CONDITIONS RATINGS TODAY, BUT THE LATEST REPORT SHOWS ONLY 4 PERCENT OF LOUISIANA'S CORN CROP IS IN EXCELLENT CONDITION. AND IN TEXAS, ONLY 9 PERCENT IS IN THAT CATEGORY. THE TOP RICE GROWING STATE IS ARKANSAS -ELEVEN PERCENT IS EXCELLENT. 44-PERCENT IS GOOD. BUT LIKE IT'S NEIGHBORS, ARKANSAS HAS ALSO HAD HEAVY RAINS, WHICH WASHED OUT SOME RICE LEVEES.
PREPARING FOR DRIER TIMES IN TEXAS:
THIS YEAR -IT SEEMS -TEXAS FLOODS ARE BECOMING MORE COMMONPLACE THAN DROUGHT. BUT FARMERS & RANCHERS KNOW THAT COULD CHANGE IN AN INSTANT. IN THIS REPORT PROVIDED BY THE TEXAS FARM BUREAU, ED WOLFF SHOWS US HOW SOME ARE GETTING READY NOW FOR WHEN THOSE NOT-SORAINY DAYS RETURN. WATER. ITS TEXAS MOST PRECIOUS RESOURCE. RAIN HAS BEEN PLENTIFUL LATELY. BUT FARMERS & RANCHERS LIKE BOB DURHAM OF ABERNATHY KNOW FIRSTHAND HOW QUICKLY THAT CAN CHANGE. "WE HAD TO SELL OUT DUE TO THE DROUGHT HERE IN '11. AND WE DECIDED THEN THAT WE NEEDED TO CAPTURE SOME OF THIS RUNOFF WATER." ITH THE TEXAS FARM BUREAU, ED WOLFF, ABERNATHY. BY THE WAY, THE TEXAS WATER DEVELOPMENT BOARD HONORED BOB FOR HIS CONSERVATION EFFORTS. . HE RECENTLY WON THE TEXAS RAIN CATCHERS AWARD -A FIRST IN AGRICULTURE.
CROP COMMENTS:
 GOOD MORNING TYNE, ON THE PLAINS, COOL, SHOWERY WEATHER CONTINUES TO HAMPER FIELDWORK IN PARTS OF TEXAS AND OKLAHOMA. COTTON PLANTING IN TEXAS WAS JUST 44% COMPLETE BY LAST MONDAY, COMPARED TO THE 5-YEAR AVERAGE OF 59%. I WOULD EXPECT LITTLE CHANGE WHEN THE NEW CROP PROGRESS REPORT COMES OUT LATER TODAY. IN GEORGIA, TOBACCO GROWERS ARE HAVING PROBLEMS WITH DISEASE. A CROP REPORTER FROM ATKINSON COUNTY SAYS TOBACCO WAS GETTING HAMMERED BY TOMATO-SPOTTED-WILT VIRUS. IT COULD GET WORSE IN THE NEXT FEW WEEKS. ALSO BLUE MOLD WAS IN SEVERAL FIELDS.
TEASE:
STILL TO COME IN ANALYSIS....WE'RE TALKING CASH -WHETHER IT'S DOLLARS OR REALS, WHERE ARE THOSE VALUE SITTING RIGHT NOW. AND HOW DO THEY IMPACT GRAINS. PLUS WE HAVE MACHINERY PETE. STAYED TUNE FOLKS, COMING UP WE'LL TALK ABOUT USED SELF-PROPELLED SPRAYER VALUES.AND THERE'S A SERIOUS LESSON TO WHAT LOOKS LIKE A GAME OF "FISH TOSSING".
AGRIBUSINESS:
IN AGRIBUSINESS, LET'S TAKE A QUICK CHECK OF HOW MARKET ACTION ENDED LAST WEEK FROM THE FLOOR OF THE CME. WE START OFF WITH THE SOYBEANS. WE SAW A WIDE RANGE ALL WEEK LONG. AT ONE POINT WE ARE UP OVER SEVENTY CENTS ON THE ON THE JULY BEANS AND WE'VE SEEN IT PULL BACK YOU KNOW WE SAW THE FUND TRADERS REALLY COME IN AND BE EXTREMELY ACTIVE IN THIS MARKET. WE'RE LOOKING FOR THEM TO PROBABLY COME BACK TO THE EARLY PART OF NEXT WEEK.
NATIONAL WEATHER:
BACK NOW ON AGDAY WITH MIKE HOFFMAN AND MIKE YOU'RE TAKING A COUPLE DAYS OFF THIS WEEK. YOU'RE PLANNING ON DOING OUR YARD WORK. LANDSCAPING YOUR WHOLE YARD. FRONT YARD. WE COULD USE RAIN WHERE WE LIVE. MAYBE MOTHER NATURE WILL COOPERATE. THAT'S RIGHT. AFTER I PLANT. BUT I'M LOOKING AT THIS MAP AND ALL I'VE GOT TO SAY IS YUCK. YEAH REALLY TEXAS YUCK. THAT'S THE WORST AREA NO DOUBT ABOUT IT. FARTHER NORTH IN JUST DEPENDS ON WHETHER YOUR AREA GOT HIT BY A THUNDERSTORM. BUT THIS MAP SHOWING THE ESTIMATED RAINFALL OVER THE PAST WEEK FROM LAST SATURDAY TO JUST THIS PAST FRIDAY. SO OVER A SEVEN DAY PERIOD AND YOU CAN OBVIOUSLY SEE MOST OF THE RAIN OCCURRED SO WE ZOOM IN ON THAT YOU CAN SEE FROM SAN ANTONIO WEST OF SAN ANTONIO TO WEST OF DALLAS.WAS A HUGE AREA THAT GOT TO LOOK LIKE ANYWHERE FROM FIVE TO TEN INCHES OF RAIN. I KNOW A FEW SPOTS MAY HAVE HAD A FOOT OR MORE AND THAT IS A DISTINCT POSSIBILITY. ALSO OVER TOWARDS HOUSTON INTO SOUTHWESTERN LOUISIANA ENDED UP WITH A HOLE BUNCH. NOW MOST OF TEXAS HAD HEAVY RAINS BUT THOSE AREAS THAT GOT THE HEAVIEST AMOUNTS.
DROUGHT MONITOR:
DROUGHT MONITOR SHOWS OBVIOUSLY NO PROBLEMS WITH DROUGHT IN TEXAS BUT THERE ARE SOME PROBLEMS DEVELOPING FATHER EAST SINCE THE CUT OFF HAS BEEN HITTING TEXAS A LOT LATELY THEY HAVE BEEN GETTING QUITE AS MUCH. NORTHERN GEORGIA AND NORTHERN ALABAMA. BUT LET'S GO BACK ONE MONTH AND LET'S SEE WHAT LOOKED LIKE. AND YOU CAN SEE FOUR WEEKS AGO WE WERE STARTING TO GET DRY WE'RE STARTING TO TALK ABOUT BUT WE WERE GETTING RID OF THESE DRY SPOTS IN MOST OF THE CENTRAL PLAINS STATES.
REGIONAL WEATHER:
THAT'S A LOOK CROSS COUNTRY NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS. FIRST OF ALL FOR KINGMAN ARIZONA A SUNNY BREEZY AND HOT HIGH OF 99. LA CROSSE WISCONSIN PARTLY SUNNY AND PLEASANT MAYBE A SHOWER IN SPOTS. HIGH OF 72. AND ALBANY GEORGIA VARIABLY CLOUDY WITH A SHOWER OR THUNDERSTORM HIGH AROUND EIGHTY THREE DEGREES.
TEASE:
MACHINERY PETE JOINS US NEXT, HE FOUND SOME INTERESTING TRENDS ON SELF-PROPELLED SPRAYERS. PLUS, IT'S CAMPING SEASON. HOW IMPORTANT IS SECURING YOUR FOOD SUPPLIES? WE'LL LOOK AT A COUPLE OF BIG RISKS.
MACHINERY PETE:
MACHINERY PETE HAS BEEN SORTING THROUGH HIS FILES....AND HE'S NOTICING SOME BIG INTEREST IN SELF-PROPELLED SPRAYERS. PETE JOINS US FROM HIS HOME OFFICE TO EXPLAIN SOME KEY BUYS. FOLKS I GOT A THANK YOU FOR DOING YOUR SHOPPING MACHINERY PETE DOT COM. OUR SEARCH TRAFFIC IS SKYROCKETING. AND ONE OF THE THINGS I FOUND REALLY INTERESTING IN THE MONTH OF MAY WAS THAT THE NUMBER OF SEARCHES ON SELF PROPELLED SPRAYERS WENT UP 26.4% VERSUS THE MONTH OF APRIL. NOW IN MACHINERY PETE.COM WE HAVE OVER 2600 SELF PROPELLED SPRAYER LISTED FOR SALE. ONE BEEN SEEN ON THE AUCTION MARKET THE LAST EIGHTEEN MONTHS STARTING TO SEE A LITTLE SOLIDIFYING WITH USED VALUES. HERE'S A COUPLE OF EXAMPLES HERE'S A PICTURE OF A 2012 JOHN DEERE 40730 WITH 443 HOURS ON IT.
TEASE:
STILL TO COME....WE'LL GO "FISHIN' FOR BEARS. IT'S AN IMPORTANT SAFETY LESSON FOR CAMPERS, LATER ON AGDAY.
IN THE COUNTRY:
SEATTLE'S FAMED FISH-TOSSING IS NOW "GOING TO THE BEARS"....LITERALLY. AND THERE'S A LESSON TO BE LEARNED FOR CAMPERS. FISH MONGERS FROM SEATTLE'S FAMED PIKE PLACE MARKET ARE TOSSING SALMON AND TROUT AT BROWN BEARS AT A SEATTLE ZOO. THAT'S HOW THEY KICKED-OFF AN EVENT TO EDUCATE THE PUBLIC ON BEARS. ZOO WORKERS SET UP A CAMPSITE AND BACKYARD INSIDE THE BEAR EXHIBIT TO SHOW HOW IMPROPERLY STORED FOOD AND GARBAGE CAN ATTRACT BEARS IN THE BACKCOUNTRY.
CLOSING:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR ALL OF US AT AGDAY. I'M TYNE MORGAN. HAVE A GREAT DAY.
PROMO:
I'M TYNE MORGAN, TUESDAY ON AGDAY WE'LL HAVE THE LATEST NEWS FROM THE DAIRY SECTOR FROM OUR PARTNERS AT FARM JOURNAL'S MILK. PLUS, THE LATEST MARKET NEWS FROM CHICAGO. AND MIKE HOFFMAN'S MIDWEEK FARM COUNTRY FORECAST. WATCH US WEEKDAYS ON AGDAY.
 

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