AgDay Daily Recap -June 7, 2016

June 7, 2016 02:57 AM
 

TODAY ON AGDAY
JUNE 7, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY -WINTER WHEAT HARVEST KICKS OFF IN EARNEST...BUT PARTS OF TEXAS ARE FACING CHALLENGES FROM WET WEATHER. IN AGRIBUSINESS...SURVEYING SOYBEAN PRICES. YOU TAKE A LOOK AT JULY SOYBEAN MEAL AND IT'S JUST BEEN A SKY ROCKET. THE DAIRY REPORT DISCUSSES POTENTIAL NEW PROCESSORS IN THE GROWING DAIRY STATE OF MICHIGAN. AND YOU KNOW ABOUT THE FITNESS TRACKERS FOR PEOPLE, NOW DAIRIES ARE GETTING THEIR OWN VERSIONS...BOVINE HEALTH TRACKERS.
 WINTER WHEAT HARVEST:
 GOOD MORNING I'M CLINTON GRIFFITHS. WINTER WHEAT HARVEST IS STARTING TO RAMP UP IN THE CENTRAL AND SOUTHERN PLAINS.... COMBINES ARE NOW ROLLING IN BOTH TEXAS AND OKLAHOMA. VIEWER THOMAS ZUM-MALLEN FROM OKARCHE, OKLAHOMA SENT THIS PHOTO, SHOWING HIS PARKED COMBINE GETTING READY TO KICK-UP SOME CHAFF.
FLOODING DOWN IN TEXAS GIVES WHEAT PRICES A LITTLE STRENGTH:
AS OF LAST WEEK, TEXAS HAD 11 PERCENT OF THE WINTER WHEAT CROP HARVESTED. THAT'S 6 POINTS BEHIND THE FIVE YEAR AVERAGE. THE LONE STAR STATE HAS SEEN DELUGE AFTER DELUGE OF HEAVY RAINS. VIEWERS TELLING AGDAY THAT WHEAT IS STARTING TO SPROUT IN SOME OF THOSE AREAS. ANALYSTS SAY THE CHALLENGING START TO HARVEST SEASON IS HELPING GIVE A LITTLE STRENGTH TO PRICES.
' I THINK WHAT WE'RE GOING TO SEE A BIT MORE PICKUP. BUT THE OTHER THING IS LIKE YOU SAID EVERYBODY ALREADY KNOWS ABOUT THE BIG SUPPLY BOTH DOMESTIC AND WORLD SO WHAT WE'RE GOING TO EXPECT IS THE SEASONAL TENDENCIES WHICH IS RIGHT AROUND HARVEST TIME FRAME TO ACTUALLY SHOOT UP HIGHER END OF JUNE INTO MID JULY TIME FRAME. TO MANAGE MONEY HAS A VERY LARGE SHORT POSITION. AT SOME POINT THEY WILL COVER. WHAT THE CATALYST IS I DON'T KNOW BUT WHEN THEY FINALLY DO YOU GET A PRETTY GOOD SHORT COVERING RALLY IN THE MARKETS. SO NOW IS NOT THE TIME. " >
CROP PROGRESS NUMBERS:
USDA RELEASED IT'S LATEST CROP PROGRESS NUMBERS LATE MONDAY. IT SHOWS NATIONAL WINTER WHEAT HARVEST NUMBERS FOR THE FIRST TIME. IN TEXAS, 16 PERCENT OF THE CROP IS NOW CUT. THAT'S 10 POINTS BEHIND THE FIVE YEAR AVERAGE. IN OKLAHOMA, HARVEST IS JUST GETTING STARTED WITH 5 PERCENT NOW IN THE BIN. THE FIVE YEAR AVERAGE IS 31 PERCENT. KANSAS SHOWS NO HARVEST AT THIS POINT-USUALLY IT'S SIX PERCENT BY NOW. IN OTHER CROP NEWS, 90 PERCENT OF CORN HAS NOW NOW EMERGED. 75 PERCENT OF ACRES ARE RATED GOOD TO EXCELLENT. 83 PERCENT SOYBEANS HAVE BEEN PLANTED, 65 PERCENT IS EMERGED. AS FAR AS CONDITIONS GO, 72 PERCENT OF SOYBEANS ARE GOOD TO EXCELLENT.
JUDGE RULES EPA ACTED WITHIN AUTHORITY CANCELING “BELT”; BAYER APPEALS DECISION:
AN ADMINISTRATIVE LAW JUDGE SAYS THE E-P-A WAS WITHIN ITS AUTHORITY TO CANCEL THE REGISTRATION FOR BAYER'S PESTICIDE KNOWN AS "BELT". THE RULING WAS HANDED DOWN LAST WEEK. THE JUDGE SAID EPA TOOK A LEAP OF FAITH IN GRANTING "CONDITIONAL" APPROVAL FOR BELT SEVEN YEARS AGO. THE RULING INDICATES FURTHER DATA HAS SINCE BEEN COLLECTED THAT SUGGESTS ENVIRONMENTAL RISK. EPA ASKED BAYER IN FEBRUARY TO VOLUNTARILY REMOVE THE PESTICIDE FROM THE MARKET. BUT BAYER REFUSED AND ASKED INSTEAD FOR A HEARING BEFORE AN ADMINISTRATIVE LAW JUDGE, WHICH LED TO THE JUNE FIRST OPINION. BAYER IS APPEALING THIS DECISION.
FIGHTING WEEDS:
WEEDS CAUSE DAMAGE TO ROW CROPS IN THE HUNDREDS OF MILLIONS OF DOLLARS EACH YEAR. RESEARCHERS ARE ALWAYS LOOKING FOR WAYS TO DEAL WITH THESE HARMFUL PLANTS. IN THIS REPORT PROVIDED BY THE U-T INSTITUTE OF AGRICULTURE. CHARLES DENNEY REPORTS ON THE IMPORTANCE OF TIMING TO EFFECTIVELY FIGHT 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. "NO MATTER WHAT TACTIC WE USE, ESPECIALLY IF WE RELY ON ONE TACTIC, THE WEEDS ARE FINDING A WAY TO GET AROUND THEM." IT MAKES THINGS TOUGH FOR UT EXTENSION'S DR. LARRY STECKEL. HE'S WORKING WITH GRADUATE ASSISTANT GARRET MONTGOMERY AT UT'S AGRESARCH CENTER IN JACKSON GROWING COVER CROPS TO FIGHT WEEDS. NOW THEIR RESEARCH LOOKS AT WHEN TO TERMINATE THOSE COVER CROPS, AND THE PENDING IMPACT ON CORN, COTTON AND SOYBEANS. "THE LONGER YOU WAIT TO TERMINATE IT, THE MORE COVER CROP GROWTH YOU GET, THE MORE WEED SUPPRESSION THAT YOU GET. BUT YOU DON'T WANT TO PUSH THAT SO FAR THAT YOU'RE NEGATIVELY IMPACTING YOUR CASH CROP."
 CROP COMMENTS:
IT'S FRESH BERRY TIME AT MANY LOCATIONS ACROSS THE COUNTRY. WE HAVE TWO SPOTS TO VISIT IN THIS MORNING'S CROP COMMENTS. FOR THAT, LET'S TURN TO CINDI CLAWSON. GOOOD MORNING CINDI. GOOD MORNING CLINTON. WE'LL STEP AWAY FROM ROW CROPS AND FOCUS ON SOME OTHER CROPS THIS MORNING. WE HEARD FROM STEVE HIGHFILL OF FAIR GROVE. MISSOURI. HE SAYS BLUEBERRIES IN HIS AREA ARE GROWING WELL. HE SAYS OPEN SKIES ARE ADDING GOOD SUNLIGHT TO HIS YOUNG PLANTS. AND FROM LUCAS, VIRGINIA -WILD BLACKBERRY BUSHES ARE LOADED WITH BERRIES ACCORDING TO VIEWER STEVE LUCAS. STEVE SAYS THEY GOT A RECORD TEN INCHES OF RAIN IN MAY. WHILE BLACKBERRIES ARE LOOKING GOOD, HAY FIELDS ARE TOO WET TO CUT.
TEASE:
WHEN WE COME BACK, WE'LL CHECK MARKETS AND LOOK AT THE HEAT BEHIND THE RECENT SOYBEAN RALLY. PLUS DO YOU WEAR A FIT-BIT TO TRACK YOUR DAILY EXERCISE? THAT SIMILAR TECHNOLOGY IS SHOWING-UP IN THE DAIRY BARN. DETAILS AS WE HEAD IN THE COUNTRY.
FROM THE FLOOR OF THE CME:
IN AGRIBUSINESS GRAIN MARKETS SPENDING PARTS OF THE DAY IN THE GREEN...AS TALK OF A BULL MARKET RETURNS. LETS SEE HOW THINGS CLOSED FROM THE FLOOR OF THE CME IN CHICAGO. VERY WILD MARKET HERE TODAY REALLY KIND OF ONE THAT IS WEATHER BASED. THE WEATHER HERE IN THE MIDWEST WAS A BEAUTIFUL WEEKEND HERE IN CHICAGO. BUT IN MODERATE TEMPERATURES BUT THE TEMPERATURES IS OPPOSED TO REALLY START HEATING UP AS THE WEEK GOES ON. WE SHOULD WE COULD GET SHOWERS OVER THE NEXT DAY OR TWO BUT REALLY JUST SHOWERS AND THEN WE COULD TURN SIGNIFICANTLY WARMER WITH HIGHS IN THE MID NINETIES FORECAST ALL THE WAY FROM THE DAKOTAS INTO THE EASTERN MIDWEST. THANKS VERY MUCH THIS IS JACK SCOVILLE, I'M VICE PRESIDENT OF PRICE FUTURES GROUP, HERE ON THE CME GROUP FLOOR IN CHICAGO WITH SOME COMMENTS FOR THE MARKET.
AGRIBUSINESS:
FOR A LONGER LOOK AT THE RECENT SOYBEAN RALLY, TYNE MORGAN AND BRAD MATHEWS JOIN US FROM THE AGRIBUSINESS DESK WITH TODAY'S ANALYSIS. BRAD MATTHEWS ROACH AG, BRAD WE LOOK AT THESE SOYBEAN PRICES WE DID NOT THINK WE WOULD TOP ELEVEN DOLLARS. WE SOARED PAST IT LAST WEEK, LOOKING AT THE CHARTS WHERE DO YOU THINK WE GO FROM HERE? THE OLD CROP IT'S REALLY HARD TO SAY BECAUSE WE HAVE A SHORT SQUEEZE. AND THAT'S BEING LED BY THE SOYBEAN MEAL. TAKE A LOOK AT JULY SOYBEAN MEAL AND IT'S JUST BEEN SKYROCKETING. SO AT SOME POINT YOU WILL HAVE SOME FORM OF BLOW OFF TOP. WHERE THAT COMES IN IS USUALLY THE LAST SHORT POSITION FINALLY BLOWS OUT.A NEW CROP I DO THINK ELEVEN DOLLAR THAT MARK IS AN AREA IN NOVEMBER SOYBEANS YOU REALLY GOT TO CONSIDER MAKING SOME SALES I THINK THAT THERE SHOULD BE A GOOD BREAK IN THE MARKET HERE WITHIN THE NEXT THIRTY DAYS.
NATIONAL WEATHER:
WELCOME TO AGDAY HERE WITH CINDI CLAWSON IN FOR MIKE HOFFMAN TODAY. LET'S TALK ABOUT THIS FRONT MOVING ACROSS THE PLAINS. YOU SAID IT COULD BRING SOME TEMPERATURE SWINGS. YEA WE'RE GOING TO BE SEE SOME REALLY BIG BIG SWINGS IN TEMPERATURE AND ONE OF THINGS ESPECIALLY IN THE NATION'S MIDSECTION REALLY GOING TO NOTICE THE COOL TEMPERATURES TODAY AND SOME REAL HEAT BY THE END OF THE WEEK. WE'RE GONNA GET TO THAT IN JUST A MINUTE BUT FIRST LET'S GET TO THE MAP AND SAY WHAT'S GOING ON. YOU'LL NOTICE THE WET AREAS ARE IN THE EASTERN PART OF THE COUNTRY OBVIOUSLY WE'VE GOT WHAT'S LEFT OF TROPICAL STORM COLIN. THEN IT'S GOING CONTINUE TO PULL AWAY FROM THE AREA.
REGIONAL WEATHER:
THAT'S YOUR NATIONAL FORECAST THAT LET'S CHECK THE WEATHER WHERE YOU LIVE. IN MENDOTA CALIFORNIA SUNNY AND HOT FOR YOU TODAY WITH A HIGH OF ONE HUNDRED TWO DEGREES. LONG PRAIRIE MINNESOTA PLENTY OF SUNSHINE WITH A HIGH OF SIXTY NINE AND CORINA, MAINE SHOWERS AND THUNDERSTORMS WITH A HIGH OF SEVENTY THREE. WHEN WE COME BACK IT'S OUR WEEKLY DIVE INTO DAIRY--WITH A LOOK AT CHEESE STOCKS AND HOW A GROWING DAIRY STATE IS PREPARING TO HANDLE RECENT INCREASES IN MILK. EAR-TAGS ON CATTLE ARE RATHER COMMON. BUT IT'S AMAZING HOW MUCH MORE INFORMATION FARMERS CAN COLLECT FROM THAT TECHNOLOGY. DETAILS LATER ON AGDAY.
DAIRY REPORT:
IN OUR DAIRY REPORT A NEW GOVERNMENT REPORT SAYS U.S. CHEESE STOCKS REMAIN AT LEVELS NOT SINCE SINCE RONALD REAGAN WAS IN OFFICE. TAKE LOOK AT THIS CHART FROM USDA'S E-R-S TEAM. IT SHOWS THE VOLUME OF NATURAL CHEESE IN COLD STORAGE HIT 1 POINT 2 BILLION POUNDS AT THE END OF APRIL. THAT'S THE HIGHEST LEVEL SINCE MARCH 1984. THE BIGGEST DIFFERENCE HOWEVER IS THAT INVENTORIES TODAY ARE ALMOST ENTIRELY PRIVATELY HELD. IN THE 80'S THE U.S. GOVERNMENT OWNED ROUGHLY 60 PERCENT OF CHEESE STOCKS. GROWING MILK SUPPLIES AND SOFT EXPORT DEMAND ARE BEHIND THE RECENT RISE IN STOCKS.
 NEW CHEESE PLANT COULD OPEN TO HELP DECREASE MILK OVERSUPPLY:
THREE FARMER-OWNED CO-OPS IN MICHIGAN WANT TO TAKE ADVANTAGE OF THE SURGING MILK CAPACITY IN THE STATE. FOREMOST FARMS, DAIRY FARMERS OF AMERICA AND MICHIGAN MILK PRODUCERS ASSOCIATION ANNOUNCED THEY ARE EXPLORING THE POSSIBILITY OF BUILDING A NEW CHEESE PLANT IN MICHIGAN. IT WOULD BE CAPABLE OF PRODUCING SIX MILLION POUNDS A DAY. LAST MONTH, MICHIGAN SAW A SIX-AND-A-HALF PERCENT GROWTH IN MILK PRODUCTION. ACCORDING TO OUR DAIRY HERD MANAGEMENT, THE STATE IS DESPERATELY SHORT IN PROCESSING CAPACITY. MILK IS BEING SHIPPED TO OTHER STATES, OFTEN AT A DISCOUNT, TO AVOID DUMPING IT. A DECISION COULD COME LATER THIS YEAR.
ETHANOL PRODUCTION COULD CREATE NEW FEED PRODUCT:
ALSO FROM DAIRY HERD MANAGEMENT....A CHANGE IN ETHANOL PRODUCTION MAY MAKE FEEDING DRIED DISTILLERS GRAINS TO DAIRY HEIFERS A MORE SUITABLE REPLACEMENT FOR CORN AND SOYBEAN MEAL. SOUTH DAKOTA STATE UNIVERSITY CONDUCTED THE STUDY. RESEARCHERS FOUND DAIRY PRODUCERS HAD TO LIMIT THE AMOUNT OF DDG'S FED TO THEIR HERDS TO ABOUT 20-PERCENT BECAUSE OF HIGH FAT CONTENT. BUT NOW SOME ETHANOL PRODUCERS ARE DRAWING-OUT SOME OF THE FAT AND IS SELLING IT AS OIL. THE RESULT -THE GRAIN CO-PRODUCT LOSES ABOUT HALF THE FAT. IN SOME CASES, DDGS ARE BECOMING HALF OF THE FEED MIX.
RUSSIA COULD EXTEND IMPORT EMBARGO:
RUSSIA'S AG MINISTRY IS DRAFTING A NEW DECREE TO EXTEND IT'S EMBARGO ON IMPORTED FOODS INCLUDING DAIRY, MEAT AND CHICKEN UNTIL THE END OF 2017.THE CURRENT EMBARGO AGAINST THE E-U, THE U.S., CANADA, AUSTRALIA AND NORWAY RUNS THROUGH AUGUST 5TH. RUSSIA IMPLEMENTED THE EMBARGO IN MID-2014 AND EXTENDED IT LAST YEAR IN RETALIATION FOR SANCTIONS RELATED TO THE CONFLICT IN UKRAINE. RUSSIA'S DOMESTIC AGRICULTURAL PRODUCERS SUPPORT THE CONTINUATION OF THE EMBARGO.
FOOD MARKETS EXPECTED TO REMAIN STABLE:
THE U-N SAYS GLOBAL FOOD MARKETS ARE LIKELY TO REMAIN STABLE, EVEN AS PRICES ROSE FOR THE FOURTH STRAIGHT MONTH. THE F-A-O'S MONTHLY FOOD PRICE REPORT ROSE 2.1 PERCENT IN MAY . THAT'S THE INDEX'S FOURTH CONSECUTIVE MONTHLY RISE AFTER IT HIT A NEAR SEVEN-YEAR LOW IN JANUARY.
NEW AG EDUCATION CENTER TO COME:
AND THE NATION'S LARGEST MILK PRODUCING STATE IS PREPARING TO BUILD A NEW AGRICULTURAL EDUCATION CENTER. THE 11 POINT 6 MILLION DOLLAR FACILITY HOPES TO PROVIDE VISITORS WITH THE OPPORTUNITY TO CONNECT AND UNDERSTAND WHERE FOOD COMES FROM. 18-ACRE SITE SITS ALONG I-43, BETWEEN 10 TO 15 MINUTES FROM MANITOWOC AND CLEVELAND IT FEATURES 21-THOUSAND SQUARE FEET, A 200 PERSON CONFERENCE CENTER, A CAFE AND BIRTHING BARN.
TEASE:
STILL TO COME -WE'LL SEE HOW TECHNOLOGY THAT HELPS KEEP HUMANS 'FIT'....CAN ALSO HAVE A "BIT" OF SUCCESS IN THE DAIRY BARN. THIS IS MACHINERY PETE -INVITING YOU TO CHECK OUT MY NEW WEBSITE MACHINERYPETE.COM OFFERING FARMERS TENS OF THOUSANDS OF USED EQUIPMENT LISTINGS TO SEARCHY. LET MACHINERY PETE HELP YOU FIND AND VALUE YOUR NEXT PIECE OF USED EQUPMENT.
IN THE COUNTRY:
MANY INDIVIDUALS ARE USING FITNESS TRACKERS, LIKE FITBITS, TO MONITOR THEIR DAILY ACTIVITY. FARMERS ARE USING SIMILAR TECHNOLOGY IN A UNIQUE WAY. IN THIS SEGMENT OF WISCONSIN DAIRY NEWS SEE HOW A DAIRY FARMER IS USING SIMILAR TECHNOLOGY TO HELP BETTER MANAGE HIS COWS. ROLF AND MARIEKE PENTERMAN HAVE A HEALTHY HERD OF DAIRY COWS IN THORP, WISCONSIN. ATTACHED TO EACH COW'S EAR AND ANKLE IS AN ELECTRONIC DEVICE THAT COMMUNICATES WITH A MAIN COMPUTER AND TRACKS THE COW'S NUTRITION, ACTIVITY AND REST. "IT'S A FITBIT® FOR COWS AND IT ACTUALLY MONITORS THE ACTIVITY FROM THE COW, ACTUALLY THE EATING TIME FROM THE COW, AND THE RUMINATION FROM THE COW, AND ALSO IT MONITORS THE TEMPERATURE IN THE EARS."
CLOSING:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR TYNE MORGAN AND CINDI CLAWSON, I'M CLINTON GRIFFITHS. HAVE A GREAT DAY.
PROMO:
I'M CLINTON GRIFFITHS. WEDNESDAY ON AGDAY AS THE PORK INDUSTRY GATHERS FOR ITS ANNUAL NATIONAL CONVENTION, WE'LL TAKE A LOOK AT CONTRACT HIGHS IN HOGS. PLUS PEPPER PRODUCTION IN THE GOLDEN STATE. WATCH US WEEKDAYS HERE ON AGDAY.

 

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