AgDay Daily Recap -March 18, 2016

March 18, 2016 02:57 AM
 

TODAY ON AGDAY
MARCH 18, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY -NOAA PUTS OUT ITS WARNINGS FOR SPRING FLOODING. WHILE PARTS OF LOUISIANA AND TEXAS REMAIN UNDERWATER. IN OUR PROFARMER PROFIT BRIEFING...SPRING FIELD WORK IS STARTING EARLY IN MANY LOCATIONS. WE'LL TALK ABOUT WHAT IT MEANS FOR INPUT PRICES IN THE PROFARMER PROFIT BRIEFING. CROWS CAN BE A NUISANCE. SO WHAT'S GOING ON BEHIND THOSE BEADY BLACK EYES? "CAW CAW".
CORN BELT FORECASTED FOR A SPRING SOAK:
GOOD MORNING I'M CLINTON GRIFFITHS. IT APPEARS FARMERS THROUGH-OUT MUCH OF THE CORN BELT WILL BE DEALING WITH WET CONDITIONS THIS SPRING.  ACCORDING TO THE SPRING OUTLOOK FROM "NOAA", IOWA, ILLINOIS AND INDIANA ARE ALL AT RISK FOR MINOR FLOODING THIS SPRING.
NOAA ALSO EXPECTS SOUTHEASTERN STATES ALONG THE ATLANTIC COULD FACE THE LIKELIHOOD OF MODERATE FLOODING. THAT AREA IS HIGHLIGHTED IN DARK BLUE. LIKEWISE, MISSOURI -AND STATES ALL THE WAY DOWN THE MISSISSIPPI FLYWAY COULD EXPERIENCE MODERATE FLOODING.
RECORD RAINFALL IN THE SOUTH OBLITERATES DROUGHT, BUT CAUSES FLOODS:
THIS AREA INCLUDES ARKANSAS, LOUISIANA AND EAST TEXAS -WHICH EXPERIENCED RECORD RAINFALL LAST WEEK. LAST WEEK'S RAIN IN THE SOUTH OBLITERATED ABNORMALLY DRY OR DROUGHTY CONDITIONS -ESPECIALLY IN LOUISIANA.
DROUGHT MONITOR:
THE LATEST DROUGHT MONITOR SHOWS A 60-POINT IMPROVEMENT. JUST SIX PERCENT OF LOUISIANA IS NOW CONSIDERED ABNORMALLY DRY. THOSE DRY PARISHES ARE LOCATED IN THE SOUTHWEST CORNER WHICH MISSED THE INTENSE RAINSTORMS THAT DROPPED TWO FEET OF RAIN IN SOME PARTS OF LOUISIANA. WE TALKED WITH ONE FARMER WHO SAYS LOUISIANA HAS BEEN THE "POSTER BOY" FOR WEATHER EXTREMES.
CATTLE IN LOUISIANA HAVE TO BE MOVED:
HERE'S AN AERIAL VIEW OF CATTLE NEAR NATCHITOCHES, LOUISIANA THAT GOT CAUGHT BY THE FAST RISING WATER. . A PRODUCER DOWN THERE TOLD AGDAY, CATTLE ARE BEING MOVED BY BARGE AND NUMEROUS HEAD ARE STILL STRANDED. EXPERTS WITH THE LSU AGCENTER ARE ASSESSING THE DAMAGE AND HOW IT AFFECTED AGRICULTURE ACROSS THE STATE. CRAIG GAUTREAUX HAS THE STORY. MANY FIELDS ACROSS LOUISIANA RESEMBLED LAKES AS ANYWHERE FROM 15 TO 20 INCHES OF RAIN FELL ON VARIOUS LOCATIONS ACROSS THE NORTHERN PART OF THE STATE. AGENTS AND ECONOMISTS WITH THE LSU AGCENTER ARE BUSY ASSESSING THE DAMAGE, BUT FLOODING IS HAMPERING THE EFFORT.
CROP DAMAGE MINIMIZED BY THE TIMING OF THE EVENT:
SOME AREAS, THE FLOODING STILL PERSISTS, SO IT'S GOING TO BE A DAY OR TWO BEFORE OUR AGENTS CAN GO OUT AND DO A FULL ASSESSMENT OF WHAT THE IMPACTS TRULY ARE. GUIDRY SAYS CROP LOSS IS BEING MINIMIZED BY THE TIMING OF THE EVENT. PRODUCERS WERE JUST RAMPING UP THEIR PLANTING WHEN THE STORMS HIT. RIGHT NOW, LOOKING AT THE ESTIMATES IN THE $5-10 MILLION RANGE, BUT I THINK THOSE ESTIMATES COULD GO UP PRETTY QUICKLY AS WE GET MORE INFORMATION IN. IT APPEARS MOST OF THE LOSS WILL BE RELATED TO CORN PRODUCTION.
LOSS FOR CORN FARMERS:
EXPERTS SAID APPROXIMATELY 30,000 ACRES OF CORN WERE PLANTED PRIOR TO THE STORM, AND SOME OF THIS WILL HAVE TO BE REPLANTED AT A SIGNIFICANT COST TO THE FARMER. WITH NITROGEN AND SEED COSTS ALONE THAT FARMER COULD HAVE $240 AN ACRE INTO THAT CROP ALREADY AND THAT'S NOT EVEN COUNTING LABOR, TRACTOR AND OTHER THINGS LIKE THAT. MOST FARMERS IN NORTH LOUISIANA PREFER TO HAVE THEIR CORN PLANTED BY EARLY APRIL. HOWEVER, FROMME INDICATED THAT FARMERS CAN PLANT A BIT LATER IF THEY HAVE THE PROPER EQUIPMENT. IF A PRODUCER DOES HAVE IRRIGATION, WE FOUND OUT LAST YEAR THAT YIELDS ARE VERY ACCEPTABLE IF YOU HAVE THE IRRIGATION. FARMERS WHO HAVE TO REPLANT CORN WILL STRUGGLE WITH OBTAINING THE SEED OF THEIR CHOICE DUE TO AN INCREASE IN THE AMOUNT OF CORN SEED BOOKED EARLIER IN THE YEAR. WITH THE LSU AGCENTER, THIS IS CRAIG GAUTREAUX REPORTING. )
FEDS KEEP RATES UNCHANGED:
THE DOLLAR TUMBLED AGAINST OTHER MAJOR CURRENCIES THURSDAY AS THE FEDERAL RESERVE KEPT INTEREST RATES UNCHANGED. THE FED SAYS IT IS KEEPING THE FEDERAL FUND RATE BETWEEN A QUARTER AND A HALF PERCENT BECAUSE THE GLOBAL ECONOMIC PICTURE REMAINS WEAK. THE FEDERAL RESERVE SAYS IT DOES EXPECT A RATE INCREASE LATER THIS YEAR. CREIGHTON UNIVERSITY IS OUT WITH ITS MONTHLY HEALTH-CHECK OF THE RURAL ECONOMY. IT SHOWS SLIGHT IMPROVEMENT FROM LAST MONTH, BUT THE RURAL MAINSTREET INDEX IS BELOW GROWTH NEUTRAL.
FARM EQUIPMENT SALES DROP:
FARM EQUIPMENT SALES DROPPED TO A RECORD-LOW LEVEL. BANK OFFICERS SAY DESPITE MUCH WEAKER FARM INCOME. FARM LOAN DEFAULT RATES ROSE BY JUST FIVE PERCENT OVER THE PAST YEAR.
CROP COMMENTS:
WINTER'S SLUMBER IS NEARLY OVER. MIKE HOFFMAN JOINS US WITH A COUPLE OF EXAMPLES IN THIS MORNING'S CROP COMMENTS. GOOD MORNING, CLINTON. THIS PICTURE COMES FROM GREG VINCENT. HE'S IN MISSOURI NEAR PLATTSBURGH JUST NORTH OF I-70.
GREG SAYS PLANTERS AREN'T ROLLING YET BUT THEY SPENT THE MORNING GETTING IT SET UP AND READY. ACCORDING TO THE NATIONAL WEATHER SERVICE SOIL MOISTURE IS GOOD THIS SPRING WITH MANY PARTS OF THE MIDWEST SEEING RAINFALL 1 TO 3 INCHES ABOVE NORMAL.
TEASE:
NEXT IN THE PROFARMER PROFIT BRIEFING -WE LOOK AT THE IMPACTS OF AN EARLY START TO SPRING FIELDWORK ON FUELS AND FERTILIZER PRICES.  AND CROWS ARE OFTEN CONSIDERED THE FARMER'S ENEMY BUT THESE RESEARCHERS IN WASHINGTON SAY A BETTER UNDERSTANDING OF THESE INTELLIGENT BIRDS COULD CHANGE YOUR PERSPECTIVE.
FROM THE FLOOR OF THE CME:
IN AGRIBUSINESS GRAIN MARKETS FALLING OFF AFTER STARTING STRONG THURSDAY. LETS SEE WHERE THINGS CLOSED FROM THE FLOOR OF THE CME IN CHICAGO.
IT'S BEEN A CHOPPY SESSION IN THE LIVESTOCK TRADE. I WANT TO START LOOKING AT THE LIVE CATTLE AND FEEDER CATTLE. A LITTLE HIGHER TRADE TO START THE MORNING SESSION BUT WE'RE SEEING SOME TECHNICAL RESISTANCE LEVELS COME INTO PLAY FOR LIVE CATTLE. WE'RE GOING BACK TO HIGHS WE HAVEN'T SEEN REALLY SINCE LAST OCTOBER AND FOR FEEDER CATTLE HIGHS IN JANUARY AND WE'RE SEEING SOME PROFIT TAKING AT THOSE LEVELS. 
PROFARMER :
PART OF THE CHALLENGE OF WITH MARGINS IN 2016, REMAINS THE PRICE OF INPUTS. THE CREW AT PROFARMER JOIN US WITH A LOOK AT INPUTS IN TODAY'S PROFIT BRIEFING. WELL, DAVIS, SPRING HAS SPRUNG IN MANY AREAS OF THE COUNTRY AND WE ARE SEEING FIELD WORK HAPPENING. SOME OF THE SOUTH WAS DELAYED WITH RECENT FLOODING WITH THE PLANTING EFFORTS AND FIELD WORK AND STUFF LIKE THAT, BUT SEEING A LOT OF GAS GO ON ACROSS THE MIDWEST AS TEMPERATURES START TO WARM UP. YOU KNOW JUST LOOKING AT THE NUTRIENT COMPOSITE INDEX THAT WE HAVE HERE AT PROFARMER WITH THE INPUTS MONITOR IT LOOKS LIKE WE HAVE SEEN THOSE NUTRIENTS BOTTOM AS A WHOLE AND PRICES STARTING TO TURN HIGHER. HAVE WE SEEN ANY SURPRISES HERE AS WE MOVE INTO THE EARLY PORTION OF SPRING?>
NATIONAL WEATHER:
WELCOME BACK TO AGDAY HERE WITH METEOROLOGIST MIKE HOFFMAN. MIKE WE SAW THE PICTURE OF THE PLANTER GETTING SET UP THERE IN MISSOURI. THEY TELL ME THEY MAY START CORN NEXT WEEK. NOW SOME AREAS GROUND TEMPERATURES AREN'T UP THERE YET. AND WE'RE STILL GOING TO SEE A COUPLE MORE WEEKS OF COLD PERIODS ESPECIALLY ACROSS THE NORTHERN TIER OF STATES. IN FACT THIS NORTHERN COLD FRONT HAS SOME FAIRLY COLD AIR FOR THIS TIME OF THE YEAR BEHIND IT BUT ITS NOT GOING ALL THE WAY TO THE SOUTH. THE ONE TO THE SOUTH OBVIOUSLY HAS SOME CHILLIER AIR BEHIND IT BUT ITS PRETTY PLEASANT WITH TEMPERATURES AS YOU'LL SEE ON THE MODERATE SIDE BUT HIGH PRESSURE GIVING LOTS OF SUNSHINE THERE.
REGIONAL WEATHER:
THAT'S A LOOK ACROSS THE COUNTRY NOW LETS TAKE A LOOK AT SOME LOCAL FORECASTS. WE'LL HEAD TO HOLBROOK ARIZONA FIRST OF ALL. GOOD DEAL OF SUNSHINE TODAY HIGH OF 71 DEGREES. REDFIELD SOUTH DAKOTA. CLOUDY AND AN OCCASIONAL SNOW SHOWER HIGH OF 39 AND SALURSVILLE KENTUCKY PARTLY SUNNY AND RATHER MILD HIGH AROUND 62 DEGREES. WITH SPRING ON THE WAY, NEW BLOOMS MEAN POLLEN.
TEASE:
UP NEXT WE'LL LOOK AT WHAT'S BEHIND A MAJOR POLLEN OUTBREAK IN FLORIDA THIS YEAR. AND LATER, THE MINDS OF CROWS..NEW RESEARCH INTO THISE CURIOUS BIRDS. GET THE ROOTS YOUR CROPS NEED, BY GETTING RADIATE FIRST. VISIT LOVELAND PRODUCTS DOT COME SLASH RADIATE. SEE YOUR CPS DEALER TODAY.
GMO LABELING SHOT DOWN BY SENATE:
VOLUNTARY GMO LABELING SUFFERING A SETBACK THIS WEEK--AS SENATE DEMOCRATS AND SEVERAL REPUBLICAN'S BLOCK ITS ADVANCE IN THE CHAMBER.  HOWEVER, THEY'RE LEAVING THE DOOR OPEN FOR MORE TALKS. SENATE AGRICULTURE CHAIR PAT ROBERTS WAS UNABLE TO REACH A COMPROMISE WITH HIS COMMITTEE'S TOP DEMOCRAT, DEBBIE STABENOW, WHO LED THE OPPOSITION.
FUNDRAISER TO SUPPORT MICHIGAN SENATOR:
 POLITICO REPORTING FOUR ORGANIC-FOOD INDUSTRY EXECUTIVES HELD A FUNDRAISING EVENT FOR THE MICHIGAN SENATOR LAST WEEK. STABENOW'S CAMP SAYS THE EVENT WAS NOT PLANNED TO COINCIDE WITH THE GMO LABELING VOTE. POLITICO SAYS THE EVENT WAS CO-HOSTED BY EXECUTIVES FROM WHOLE FOODS, STONYFIELD FARMS, ORGANIC VALLEY AND THE ORGANIC TRADE ASSOCIATION. THE FOUR COMPANIES HAVE DONATED TO HER IN THE PAST. OTHER COMPANIES GIVING TO HER CAMPAIGN INCLUDE DOW AND EMPLOYEES FROM DUPONT, KELLOGG AND MONSANTO.
CHIPOTLE HAUNTED BY FOOD SAFETY CONCERNS:
CHIPOLTE CUSTOMERS HAVEN'T FORGOTTEN. THE COMPANY EXPECTING FIRST QUARTER LOSSES--A FIRST FOR THE BUSINESS SINCE BECOMING A PUBLICLY TRADED COMPANY. FOOD SAFETY CONCERNS CONTINUE TO HAUNT THE QUICK SERVICE RESTAURANT CHAIN. NOW THE WALL STREET JOURNAL REPORTS, ITS CONSIDERING ROLLING BACK SOME OF IT'S RECENTLY INSTALLED FOOD SAFETY PROTOCOLS...INCLUDING DOING LESS OR NO PATHOGEN TESTING ON CERTAIN INGREDIENTS. ALSO THIS WEEK...CHIPOLTE ANNOUNCING JIM MARSDEN AS IT'S DIRECTOR OF FOOD SAFETY.
ALLERGY SEASON:
AS SPRING TAKES HOLD, ALLERGIES ARE ROARING BACK. ESPECIALLY IN FLORIDA WHERE AN EXCEPTIONAL AMOUNT OF POLLEN IS DUSTING EVERYTHING IN SIGHT. EXPERTS SAY MUCH OF THAT IS COMING FROM TREES INCLUDING OAKS--WHICH-AS PART OF A NATURAL CYCLE--ARE RELEASING RELEASING MORE POLLEN THAN USUAL.
EXCEPTIONAL AMOUNT OF POLLEN EXPECTED:
 SOME PLANTS WILL HAVE PARTICULARLY LARGE YEARS WHERE THEY'RE PRODUCING LARGE AMOUNTS OF POLLEN. OAKS WILL HAVE WHAT WE CALL A MASTING YEAR. AND THOSE YEARS THEY'LL HAVE LARGE VOLUMES OF FLOWERS PRODUCED AND USUALLY YOU'LL THEN SEE A LARGE VOLUME OF ACORNS PRODUCED.HE SAYS IT'S A NATURAL STRATEGY OF THESE KINDS OF TREES AS THEY WORK TO OVERWHELM THE NATURAL ENEMIES OF THEIR SEEDS, LIKE SQUIRRLES AND DEER.
TEASE:
 WHEN WE COME BACK, THE BRILLIANT MINDS OF CROWS. HEAD TO AGWEB TODAY FOR YOUR CHANCE TO WIN A BRAND NEW, HOT WATER, POWER WASHER FROM HOTSY. NOTHING CLEANS LIKE A HOTSY.
IN THE COUNTRY:
IT'S AN AGE-OLD BATTLE -FARMERS VERSUS CROWS. NOT ONLY WILL THESE LARGE BLACK BIRDS DEVOUR GRAIN, BUT THEY WILL ALSO ATTACK SMALLER LIVESTOCK, LIKE LAMBS. SCIENTISTS SAY CROWS HAVE LARGE BRAINS AND GREAT MEMORIES. TRACEY BROWN HAS MORE ON WHAT RESEARCHERS ARE FINDING OUT ABOUT THESE AGGRESSIVE BIRDS. FOR ALMOST EVERY STEP OF HIS 12-MILE WALK, DARRYL DYER HAS COMPANY.
A KINSHIP DYER CHERISHES ON HIS WALKS. TRACY BROWN, ASSOCIATED
PRESS.
CLOSING:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR MIKE HOFFMAN, AND OUR PARTNERS AT PROFARMER. I'M CLINTON GRIFFITHS. HAVE A GREAT DAY.
PROMO:
I'M CLINTON GRIFFITHS. MONDAY ON AGDAY -MACHINERY PETE LOOKS AT USED  EQUIPMENT DEALS IN FARM COUNTRY. AND WITH PRICES DOWN AND ACRES SLIPPING, HOW CAN THE WHEAT INDUSTRY REGAIN MOMENTUM? WATCH ME WEEKDAYS HERE ON AGDAY.

 

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