AgDay Daily Recap -March 3, 2015

March 3, 2015 02:57 AM
 

TODAY ON AGDAY
MARCH 3, 2015

OPEN HEADLINES:
COMING UP TODAY ON AGDAY - WHILE MAJOR GRAIN PRICES ARE IN A SLUMP, GRAIN SORGHUM IS ENJOYING A DEMAND SURGE. A LABOR DISPUTE TURNS VIOLENT - FURTHER HAMPERING HARVEST IN BRAZIL. IN AGRIBUSINESS...WILL WE SEE A SPRING RALLY?PRODUCTION QUOTAS FOR E-U DAIRY FARMERS ARE ENDING WHAT DOES THAT MEAN HERE AT HOME, AND THE IMPORTANT CONNECTION BETWEEN BREAKFAST AND LEARNING. AGDAY-BROUGHT TO YOU BY THE DEPENDABLE, LONG LASTING CHEVY SILVERADO…
SORGHUM:
GOOD MORNING I'M CLINTON GRIFFITHS. EVEN WITH THE MAJOR GRAINS SEEING PRICES SLUMP, ONE OF THOSE COMMODITIES IS EXCITED ABOUT THE PROSPECTS FOR 2015...AND THAT'S OUR TOP STORY ON AGDAY.
BRAZIL STRIKE:
A STRIKE IN BRAZIL TURNED VIOLENT FRIDAY…FEDERAL HIGHWAY POLICE OFFICERS FIRED TEAR GAS ON TRUCK DRIVERS AND THEIR SUPPORTERS WHO BLOCKED A HIGHWAY. THE TRUCKERS ARE DEMANDING THE STATE TO LOWER FUEL AND TOLL PRICES. THE STRIKE IS CAUSING DELAYS IN BRAZIL'S SOYBEAN HARVEST AND DELIVERY. THE TWO WEEK OLD STRIKE IS ALSO AFFECTING THE DELIVERY OF MEAT, POULTRY AND DAIRY PRODUCTS IN PARTS OF SOUTHERN BRAZIL FORCING SUPERMARKETS TO IMPOSE RATIONING OF SOME ITEMS SUCH AS MILK. AS FAR AS PRICES TO SOYBEANS, WATER STREET ADVISORY SENIOR MARKET ANALYST ARLAN SUDERMAN, SAYS THE IMPACT OF THE STRIKE IS LIMITED.
PILGRIM’S PRIDE CHICKEN:
AUTHORITIES IN SOUTH CAROLINA ARE INVESTIGATING THREE CASES OF SUSPECTED VANDALISM THAT KILLED 300-THOUSAND CHICKENS.
HUDSON ICE BREAKING:
THE UNITED STATES COAST GUARD IS HELPING TO CLEAR THE HUDSON RIVER OF THICK ICE THAT IS HAMPERING NAVIGATION ON THE WATERWAY. A CUTTER IS BUSTING ITS WAY THRU A 60 MILE STRETCH OF THE RIVER SOUTH OF ALBANY. IN SOME SPOTS, ICE IS 18 INCHES THICK. MUCH OF THE HUDSON RIVER HAS BEEN FROZEN OVER IN RECENT WEEKS AS THE NORTHEAST REGION HAS ENDURED BITTER COLD TEMPERATURES. KEEPING THE SHIPPING LANES OPEN IS CRITICAL BECAUSE THE BARGES ARE HAULING FUEL.
CROP WATCH:
CLINTON WE TALKED WITH A REPRESENTATIVE FROM THE NEW YORK APPLE ASSOCIATION. SHE SAYS DESPITE THE ROUGH WINTER HITTING THE NORTHEAST, THEY'RE RECEIVED NO REPORTS OF DAMAGED TREES FROM THE COLD AND SNOW IN THE HUDSON VALLEY. THEY SAID THE TREES - BY AND LARGE - HAVE HAD AN "ORDERLY" WINTER SO TREES WERE ABLE TO HARDEN PROPERLY. HOPEFULLY, THEY'LL HAVE AN ORDERLY SPRING AS WELL. WEST CENTRAL INDIANA RECEIVED A HEALTHY BLANKET OF SNOW OVER THE WEEKEND. ABOUT 8 INCHES OF SNOW FELL. I BET MIKE HOFFMAN WOULD RECOGNIZE THIS PLACE - IT WAS TAKEN OUTSIDE THE VETERINARY SCIENCES COMPLEX AT PURDUE UNIVERSITY IN WEST LAFAYETTE. THOSE SILHOUETTES STAND OUT AGAINST THE FRESH BLANKET OF WHITE. AND THE OFFICIAL NUMBERS ARE IN FOR ILLINOIS, AND THE STATE DID IN FACT HAVE A HISTORIC HARVEST IN 2014. THE STATE AVERAGED 200 BUSHELS PER ACRE FOR CORN AND 50 BUSHELS FOR BEANS. THAT'S NEARLY TWICE WHAT IT WAS DURING THE DROUGHT YEAR OF 2012.
TEASE:
JUST AHEAD SOME HISTORIC DAYS IN THE MARKETS TO START THE WEEK..PLUS A LOOK AT THE POSSIBLITY OF A SPRING RALLY IN TODAY'S ANALYSIS.
DOLLAR STRENGTH:
THE U.S. DOLLAR CONTINUES TO STRENGTHEN. THE INDEX RISING TO AN 11 YEAR HIGH ON EXPECTATIONS THAT FEDERAL RESERVE MAY YET RAISE INTEREST RATES THIS YEAR AND GAINS IN CONSUMER PURCHASES SIGNALING STRENGTH IN THE ECONOMY.  JUST A FEW DAYS AGO--FED CHAIR JANET YELLEN SAYING THE BANK WOULD TAKE IT SLOW WHEN IT COMES TO RAISING RATES.
ANALYSIS INTRO:
BELIEVE IT OR NOT....SPRING IS JUST AROUND THE CORNER. IN FACT DON'T FORGET TO SPRING THOSE CLOCKS FORWARD THIS WEEKEND. BUT WHAT ABOUT PRICES HEADING INTO ANOTHER PLANTING SEASON…TYNE MORGAN ASKS THAT QUESTION IN THIS MORNING'S ANALYSIS.
TEASE:
COULD AMERICAN DAIRY PRODUCERS START GETTING MORE COMPETITION FROM THE E-U?
WE'LL TAKE A CLOSER LOOK AT THE END OF QUOTAS AND WHAT THAT MEANS HERE AT HOME NEXT IN OUR DAIRY TODAY REPORT.
DTR EU QUOTA:
IN OUR DAIRY TODAY REPORT, FOR THE FIRST TIME IN 30 YEARS, E-U FARMERS CAN OPERATE WITHOUT THE THREAT OF LEVIES OR BUMPING UP AGAINST A PRODUCTION QUOTA.
DTR TPA:
CONGRESS COULD BEGIN WORK ON TRADE PROMOTION AUTHORITY THIS WEEK. THE U.S. DAIRY EXPORT COUCIL AND THE NATIONAL MILK PRODUCERS FEDERATION URGING PASSAGE--CALLING IT CRUCIAL TO SECURING WELL-NEGOTIATED AGREEMENTS…ONE OF THOSE BEING THE TRANS-PACIFIC PARTNERSHIP WHICH COULD OPEN UP NEW MARKETS FOR U.S. DAIRY PRODUCTS...THE GROUPS SENT A LETTER TO CONGRESS SAYING THAT A CLEAR FRAMEWORK FOR PARTICIPATING IN THE PROCESS FROM CONGRESS INCREASES ITS INFLUENCE OVER THESE AGREEMENTS. THE EXPORT COUNCIL SAYS ROUGHLY ONE SEVENTH OF U.S. PRODUCTION IS NOW EXPORTED....WORTH SOME 7 BILLION DOLLARS.
DTR FEB MILK:
DAIRY PRODUCERS LOOKING BACK FONDLY ON FEBRUARY…CLASS THREE FUTURES FINISHING THE MONTH ON THE BULLISH NOTE WITH CONTRACTS ANYWHERE FROM 9 TO ALMOST 40 CENTS HIGHER. ANALYSTS SAY THEY EXPECT THE UPTREND TO CONTINUE INTO THIS WEEK. CHEESE AND BUTTER FUTURES ALSO CLOSING OUT THE MONTH ON A POSITIVE NOTE...
ITC BREAKFAST:
THIS IS NATIONAL SCHOOL BREAKFAST WEEK. IN MANY SCHOOLS ACROSS THE REGION HUGE STRIDES ARE BEING MADE IN THE NUMBER OF STUDENTS NOW EATING BREAKFAST. IN THIS REPORT PROVIDED BY THE AMERICAN DAIRY ASSOCIATION-MIDEAST, CLARK POWELL TELLS US WHY TAKING BREAKFAST OUT OF THE CAFETERIA IS GETTING HIGH MARKS FROM KIDS.
CLOSE:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.

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