AgDay Daily Recap -May 17, 2016

May 17, 2016 02:57 AM
 

TODAY ON AGDAY
MAY 17, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY -  CROP PROGRESS IS MOVING AHEAD, BUT WEATHER IS KEEPING SOME PLANTERS PARKED. IN AGRIBUSINESS...SOYBEANS HAVE RALLIED MORE THAN 2 DOLLARS...WHERE DO MARKETS STAND NOW? WELL I THINK THE MARKET THE  BEARS MYSELF GOT CAUGHT BEING A LITTLE BIT TO PESSIMISTIC AFTER THE MARCH ACREAGE REPORTS. WE'LL CHECK ON MASSIVE AMOUNTS OF CHEESE IN STORAGE AS PART OF OUR DAIRY REPORT. AND THE IMPORTANCE OF PROTECTING YOURSELF AND YOUR SKIN WHILE OUT DOING CHORES.
CROP PROGRESS:
GOOD MORNING I'M CLINTON GRIFFITHS. SPORADIC SPRING WEATHER AND WIDE MARKET SWINGS CHALLENGING FARMERS TO GET CROPS IN THE GROUND AS PLANTING WINDOWS BEGIN TO CLOSE.  FROM RAIN AND SEVERE WEATHER, TO FROSTS AND FREEZES IN THE NORTHERN STATES OVER THE WEEKEND, THIS PLANTING SEASON IS ONCE AGAIN CHALLENGING PRODUCERS FROM EVERY ANGLE. DESPITE THAT, USDA'S LATEST CROP PROGRESS REPORT SHOWS THE WORK CONTINUES TO CLIP ALONG. THREE QUARTERS OF THE NATIONAL CORN CROP IS PLANTED. FIVE POINTS AHEAD OF THE FIVE YEAR AVERAGE. IOWA. ILLINOIS AND MINNESOTA ARE ALL WELL AHEAD OF AVERAGE. BUT INDIANA AND OHIO ARE RUNNING BEHIND. NEBRASKA IS SLIGHTLY BEHIND.
 TOSS TO I-80 PLANTING TOUR:
COMING UP TOMORROW MORNING ON AGDAY...WE WRAP UP THE I-80 PLANTING TOUR WITH A LOOK AT THE SUMMER FORECAST. BETSY JIBBEN TALKS WITH SEVERAL METEOROLOGIST ABOUT WHAT TO EXPECT THIS GROWING SEASON. A WEATHER EXCLUSIVE, TOMORROW ON AGDAY. THE ETHANOL INDUSTRY ONCE AGAIN TRYING TO STAND UP FOR ITSELF.
BILL TO CAP ETHANOL VOLUME COULD SET BACK DECADES OF CLIMATE POLICY:
A BIPARTISAN GROUP IN THE HOUSE INTRODUCING A 9.78 PERCENT VOLUME CAP ON ETHANOL IN GASOLINE, VERSUS UP TO 85 PERCENT BLENDS ALLOWED NOW. THE RENEWABLE FUELS ASSOCIATION SAYS THE BILL WOULD GUT THE RFS AND SET BACK "DECADES" OF U.S. ENERGY AND CLIMATE POLICY.
HOUSE AG COMMITTEE DEMANDS ANSWERS FROM EPA AFTER RELEASE OF PREMATURE REPORT:
SPEAKING OF EPA, THE HOUSE AG COMMITTEE WANTS THE EPA TO EXPLAIN WHY IT ACCIDENTALLY PUBLISHED A FINAL REPORT EARLY. DOCUMENTS RELEASED LAST MONTH ONLINE SAID GLYPHOSATE WAS NOT LIKELY TO BE CARCINOGENIC TO HUMANS. HOWEVER, EPA PULLED THE REPORT THREE DAYS AFTER PUBLISHING, SAYING THE DOCUMENTS WERE NOT READY TO BE RELEASED. LAWMAKERS ARE ASKING WHY AND WHAT NEEDS TO BE DONE TO FINISH THE REPORT. EPA OFFICIALS SAY THE AGENCY WILL QUOTE "RESPOND APPROPRIATELY." 
WATER WORKS LAWSUIT IN DES MOINES:
THE DES MOINES WATER WORKS LAWSUIT AGAINST THREE DRAINAGE DISTRICTS OVER HIGH NITRATE LEVELS IN RIVER WATER IS GETTING PUSHED BACK. THE COURT POSTPONING THE TRIAL UNTIL JUNE 2017. THE CASE WAS DELAYED BECAUSE OF COURT CONFLICTS AND THERE'S A REQUEST OF THE IOWA SUPREME COURT TO DETERMINE WHETHER THE DRAINAGE DISTRICTS CAN BE SUED FOR DAMAGES.
CROP COMMENTS:
IN CROPWATCH WE CHECK IN ON A COUPLE FOOD FIELDS. PEPPERS AND POTATOES AND MIKE HOFFMAN FROM THE AGDAY WEATHER CENTER. MIKE.  GOOD MORNING, CLINTON.  LET'S START OFF IN COACHELLA, CALIFORNIA.. BELL PEPPER HARVEST IS UNDERWAY IN THE VALLEY! THIS WAS TAKEN AT PRIME TIME, A GROWER, PACKER AND SHIPPER OF THE PRODUCT. REPRESENTATIVES SAY THE AREA IS SEEING IDEAL GROWING CONDITIONS. THE PLANTS ARE HEALTHY AND VIBRANT.  THE SEASON LASTS UNTIL THE END OF JULY JUST WITHIN THAT VALLEY. PEPPERS ARE GROWN IN BOTH SPRING AND FALL SEASONS IN DIFFERENT AREAS OF CALIFORNIA.
TEASE:
WHEN WE COME BACK, THE BEARS ARE IN TOWN...BOB UTTERBACK, JOINS ME AT THE AGRIBUSINESS DESK TO TALK GRAIN MARKETS AND WHERE WE STAND AFTER A MORE THAN 2 DOLLAR RALLY IN SOYBEANS. AND LATER, TIME OUTSIDE WITH LIVESTOCK CAN BE FUN, BUT ALSO FATAL IF ITS TOO MUCH TIME IN THE SUN WITHOUT PROTECTION. THE DANGERS OF SKIN CANCER AND MELANOMA LATER ON AGDAY.
FROM THE FLOOR OF THE CME:
IN AGRIBUSINESS A RATHER QUIET DAY IN COMMODITIES. LETS SEE HOW MARKETS CLOSED FROM THE FLOOR OF THE CME IN CHICAGO.  HI, IT'S BEEN MOSTLY A SLOW DAY IN THE GRAIN ROOM HERE TODAY WITH THE CORN MARKET, THE STRENGTH HERE TODAY ACTUALLY AND ACTUALLY THE RICE MARKET IS THE STRENGTH OF THE MARKET TODAY. IT'S BEEN UP ABOUT 25 TO 30 CENTS JUST ABOUT ALL DAY. I'M VICE PRESIDENT OF PRICE FUTURES GROUP HERE ON THE CME GROUP FLOOR WITH SOME COMMENTS FROM THE MARKETS.
AGRIBUSINESS:
OUR GUEST HERE AT THE AGRIBUSINESS DESK TODAY WE HAVE BOB UTTERBACK OF UTTERBACK MARKETING. BOB, LET'S TALK ABOUT THESE RECENT PRICE MOVES THAT WE HAVE SEEN THROUGH APRIL AND MAY, PRETTY INTERESTING STUFF. WHERE DO YOU THINK WE STAND RIGHT NOW?> WELL, I THINK THE BEARS MYSELF GOT CAUGHT BEING A LITTLE TOO PESSIMISTIC AND THE MARCH AFTER THE MARCH ACRES REPORT, BECAUSE WE UNDERESTIMATED THE CURRENCY RELATIONSHIP OF THE DOLLAR, THE IMPACT ON EXPORTS, WE UNDERESTIMATED THE CHINESE PRESSURE TO INCREASE THEIR PROTEIN DEMAND AND WE DIDN'T SEE THE SOUTH AMERICAN PROBLEM. IT WAS DEMAND, DEMAND, DEMAND NOT SUPPLY, WHICH IS A SURPRISE FOR THIS TIME OF YEAR.
NATIONAL WEATHER:
WELCOME BACK TO AGDAY METEOROLOGIST MIKE HOFFMAN HERE WATCHING THIS SYSTEM IN THE MIDDLE OF THE COUNTRY GET SQUASHED BETWEEN TWO FRONTS. IT IS GOING A LITTLE FARTHER SOUTH THAN SOME OF THE HEAVIER RAIN THAN WE'VE HAD THE LAST TWO WEEKS. NONETHELESS, IT IS MOVING DUE EASTWARD, SO IT'S NOT GOING TO BE MAKING IT IN THE GREAT LAKES OR ANYTHING. BUT IT'S GOING TO SOAK THE OHIO VALLEY AS IT MOVES EASTWARD. THERE'S GOING TO BE SOME HEAVY THUNDERSTORMS DOWN ALONG PARTS OF THE GULF COAST AS WELL.
REGIONAL WEATHER:
THAT'S A LOOK ACROSS THE COUNTRY. NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS. FIRST OF ALL, WE'LL HEAD TO FARMINGTON, NEW MEXICO. IT'S VARIABLY CLOUDY WITH AN AFTERNOON THUNDERSTORM. THE HIGH TEMPERATURE IS 66. ST. CLOUD, MINNESOTA IS MOSTLY SUNNY AND COMFORTABLE. HIGH IS 65. AND TAVARES, FLORIDA, WARM WITH A THUNDERSTORM OR TWO AROUND. THE HIGH IS AROUND 84.
TEASE:
WE'LL CHECK ON THE DAIRY INDUSTRY WHEN WE GET BACK INCLUDING THE FIGHT OVER GEOGRAPHICAL INDICATORS. AND LATER, AS THE SUMMER SUN HEATS UP, A REMINDER TO THINK ABOUT YOUR LONG TERM HEALTH. THE IMPORTANCE OF CARING FOR YOUR SKIN...WHILE YOUR OUT DOING CHORES.
CHEESE INVENTORIES UP:
IN NEWS FROM OUR PARTNERS AT FARM JOURNAL'S MILK -THE LATEST DAIRY PRODUCTION DATA FROM USDA SHOWS CHEESE INVENTORIES ARE UP ELEVEN PERCENT FROM A YEAR AGO. THEY HAVEN'T REACHED THAT LEVEL SINCE THE 1980'S. BACK THEN, THE GOVERNMENT STORED TREMENDOUS TONNAGES.  DAIRY HERD MANAGEMENT EDITOR JIM DICKRELL EXPLAINS THE DIFFERENCE THIS TIME AROUND. "THE GOOD NEWS THIS TIME ALL THESE INVENTORIES ARE PRIVATELY HELD. SO AS PRICES RECOVER THEY'LL PROBABLY COME OUT QUITE QUICKLY. WHEN THE GOVERNMENT WAS HOLINDG ON, IT WAS A PROLONGED, PAINFUL PROCESS. THIS WILL BE LIKE A RIPPING A BANDAID OFF A WOUND WHEN IT HAPPENS."

WHY THE BIG INCREASE? DICKRELL SAYS MILK PRODUCTION IS UP HERE AND IN EUROPE. ALSO CHINA IS BUYING LESS DAIRY. AND THE RUSSIA TRADE EMBARGO IS STILL AFFECTING THE INVENTORIES. ONE OF THE STUMBLING BLOCKS THAT COULD SLOWDOWN A TRADE DEAL BETWEEN THE U-S AND EUROPEAN UNION IS PARMESAN CHEESE....AND OTHER FOOD PRODUCTS ORIGINATING FROM A SPECIFIC REGION OF EUROPE.

E-U FIGHTS FOR GEOGRAPHICAL INDICATORS ON CHEESE:
E-U NEGOTIATORS ARE SAID TO BE ADAMANT IN PROTECTING SOME OF THEIR HERITAGE BRANDS THROUGH WHAT'S CALLED "GEOGRAPHICAL INDICATORS".   THE U-S DAIRY INDUSTRY DOES NOT AGREE. ON MONDAY SHAWNA MORRIS OF THE NATIONAL MILK PRODUCERS FEDERATION TALKED ABOUT THEIR OPPOSITION TO G-I'S WITH AGRITALKS MIKE ADAMS.

U.S. LAMB EXPORTS GO BACKS TO TAIWAN:
U-S LAMB AND LAMB PRODUCTS HAVE NOW RE-GAINED ACCESS TO TAIWAN.  IT'S BEEN 14 YEARS SINCE THEY WERE SHUT-OUT AS PART OF THE B-S-E SCARE IN THE UNITED STATES.  THE U-S MEAT EXPORT FEDERATION SAYS THIS MARKET ACCESS WILL PROVIDE A NICE BOOST FOR U-S LAMB EXPORTS.  THE FEDERATION SAYS TAIWANESE GATES WERE CLOSED DUE TO CONCERNS OVER SCRAPIE, A DISEASE SIMILAR TO BSE. 
U.S. PORK EXPORT IN TAIWAN:
MEANWHILE -TAIWAN ACCEPTS U-S PORK AS LONG AS IT'S FREE OF RACTOPOMINE.  U-S BEEF HAS LIMITED ACCESS TO TAIWAN.
TEASE:
WHEN WE COME BACK, KEEP AN EYE ON THE SKY AND YOUR ATTENTION ON YOUR SKIN. TIPS TO HELP YOU LIVE A LONG HEALTHY LIFE...AFTER THE BREAK.
IN THE COUNTRY:
HAVE YOU EVER LOOKED IN A MIRROR AND SAID "AH, IT'S JUST A MOLE?"  DURING NATIONAL SKIN CANCER AWARENESS MONTH, DERMATOLOGISTS URGE PEOPLE WHO WORK OR PLAY IN THE GREAT OUTDOORS TO PROTECT THEMSELVES FROM THE HARSH SUN. KENT FADDIS WITH THE UNIVERSITY OF MISSOURI TELLS US WHY IT'S IMPORTANT TO MONITOR FOR MOLES.
 CLOSING:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR MIKE HOFFMAN, I'M CLINTON GRIFFITHS. HAVE A GREAT DAY IN FARM COUNTRY.
PROMO:
TOMORROW ON AGDAY...WE WRAP UP THE I-80 PLANTING TOUR WITH A LOOK AT THE SUMMER FORECAST. BETSY JIBBEN TALKS WITH METEOROLOGISTS ABOUT WHAT TO EXPECT THIS GROWING SEASON. ORIGINAL REPORTING & ANALYSIS.... TOMORROW ON AGDAY.

 

Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close