AgDay Daily Recap -July 29, 2016

July 29, 2016 02:57 AM
 

TODAY ON AGDAY
JULY 29, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY -THE CONVENTIONS ARE OVER NOW THE CAMPAIGNING BEGINS. I'M MICHELLE ROOK. HOW WILL THE OUTCOME OF THE 2016 ELECTIONS IMPACT AGRICULTURE? WE'LL FIND OUT TODAY ON AGDAY. IN TODAY'S PROFARMER PROFIT BRIEFING...CATTLE AND HOGS. AND THEN WE FINALLY GOT A BREATH OF FRESH AIR IN THAT CATTLE ON FEED REPORT THAT SUGGESTED THAT MAYBE THE CALVES AREN'T GOING INTO THE FEEDLOT QUITE AS FAST. A GREAT AMERICAN BARN WITH A BELOW GROUND GEM. AND A WISCONSIN DAIRY IS HELPING DEVELOP WORLD CLASS ATHLETES.
WHICH PRESIDENTIAL CANDIDATE COULD REPRESENT THE NEEDS OF AGRICULTURE:
GOOD MORNING I'M CLINTON GRIFFITHS. WITH THE REPUBLICAN AND DEMOCRATIC NATIONAL CONVENTIONS WRAPPED UP, THE STAGE HAS BEEN SET FOR THE PRESIDENTIAL RACE THIS NOVEMBER. THE QUESTION REMAINS -WHO WOULD BE BETTER FOR AMERICAN AGRICULTURE. ONE ISSUE THAT GARNERED ATTENTION AT THE D-N-C CONVENTION WAS THE TRANS PACIFIC PARTNERSHIP TRADE DEAL. OPPONENTS WERE NOT SHY IN SHOWING THEIR DIS-TASTE FOR THE 12-NATION TRADE DEAL. PUBLICLY, THE T-P-P IS NOT SUPPORTED BY EITHER HILLARY CLINTON OR DONALD TRUMP. BUT WHERE DO THE TWO LEADING CANDIDATES STAND ON FARM POLICY? AGDAY'S MICHELLE ROOK RECENTLY TALKED TO POLITICAL INSIDERS ABOUT THE RACE TO NOVEMBER.
AGRICULTURAL AGENDA SEEMS TO BE MISSING:
WHEN IT COMES TO THE 2016 ELECTIONS MOST IN THE AGRICULTURAL INDUSTRY AGREE THAT THE PRESIDENTIAL CANDIDATES HAVE HAD LITTLE OR NO AGRICULTURAL AGENDA. IN FACT, FARM GROUPS HAVE ATTEMPTED TO MEET WITH THE CANDIDATES TO DISCUSS AG POLICY. "AND IT JUST HASN'T BEEN A HIGH PRIORITY AND I DOUBT THAT IT WILL BE A HIGH PRIORITY SO THIS IS A SITUATION WHERE THOSE OF US IN AGRICULTURE WE MAY NOT REALLY KNOW THEIR POSITION ON THESE ISSUES UNTIL AFTER THEY GET ELECTED, THAT'S A SCARY PROPOSITION FOR US."
DAVID CROW HAS WORKED ON SEVERAL CAMPAIGNS AND SAYS THE FACT THAT DONALD TRUMP HAS NEVER HELD ANY LEVEL OF PUBLIC OFFICE MAKES HIS STANCE ON AG POLICY A WILDCARD. "I MEAN WE'RE IN REALLY UNPRECEDENTED TERRITORY HERE. I MEAN EVEN THOSE OF US WHO'VE BEEN IN WASHINGTON A LONG TIME HAVE NO SENSE WHATSOEVER WHAT TRUMP WOULD DO."
CLINTON’S SENATE EXPERIENCE GIVES HER SOME AG BACKGROUND:
SARA WYANT WITH AGRI-PULSE SAYS HILLARY CLINTON AT LEAST HAS SOME UNDERSTANDING OF FARM PROGRAMS FROM HER TIME IN THE SENATE. SHE'S BEEN OPEN ABOUT HER POSITIONS, SHE'S BEEN VERY SUPPORTED BY AGRICULTURAL INTERESTS IN THE STATE OF NEW YORK WHERE SHE SERVED AS A SENATOR." AND SO I DON'T THINK YOU'D SEE A LOT OF BIG SURPRISES." AND WHICH OF THE CANDIDATES WILL BE BETTER ON TRADE?
CROW, "I THINK HILLARY ONLY BECAUSE I THINK TRUMP HAS GOT HIMSELF AS HE HAS SO MANY TIMES SO FAR OUT WITH HIS RHETORIC PARTICULARLY MEXICO AND CHINA. "
HOWEVER, BOTH TRUMP AND CLINTON HAVE SPOKE OUT AGAINST TPP, EVEN THOUGH CLINTON SUPPORTED THE AGREEMENT AS SECRETARY OF STATE. WYANT, "THERE'S A LOT OF WISHFUL THINKING I SUPPOSE IN THE AG COMMUNITY THAT SHE WOULD COME EVENTUALLY BACK TO THE CENTER AND BE SUPPORTIVE OF TRADE ENHANCEMENT." IN WASHINGTON D.C. I'M MICHELLE ROOK REPORTING FOR AGDAY.
FUTURE OF RENEWABLE FUELS UNDER THE NEXT PRESIDENT:
THE OTHER BIG POLICY AREA FOR AGRICULTURE IS RENEWABLE FUELS. AND AGAIN POLITICAL EXPERTS SAY THAT EVEN WHEN CAMPAIGNING IN IOWA THE CANDIDATES DIDN'T REALLY TAKE A HARD POSITION ON THE RFS. HOWEVER, DONALD TRUMP DID SAY HE WOULD CONSULT IOWA GOVERNOR TERRY BRANSTAD ON THE FUTURE OF THE PROGRAM. IOWA LEADS THE NATION IN ETHANOL PRODUCTION.
FINANCIAL ASSISTANCE REQUESTS INCREASE:
ALSO IN WASHINGTON, THE U.S. DEPARTMENT OF AGRICULTURE IS LOOKING FOR FRESH FUNDING SOURCES FOR IT'S OPERATING LOAN PROGRAM THAT HELPS FARMERS. THE $2.65 BILLION DOLLARS ALLOCATED FOR THE PROGRAM HAS ALREADY RUN OUT. USDA SAYS REQUESTS FOR FEDERAL FINANCIAL ASSISTANCE ARE GROWING AMID WHAT'S BEING CALLED THE WORST AGRICULTURAL DOWNTURN IN MORE THAN A DECADE. CURRENTLY, FSA LOANS ARE FUNDING MORE THAN 113,000 BORROWERS, TOTALING NEARLY $23 BILLION. BACK AT THE FARM LEVEL, FARM CREDIT LEADERS WITH AGRIBANK IN MINNESOTA SAY FARMERS CONTINUE TO DEAL WITH SHRINKING WORKING CAPITAL. THEIR ADVICE IS TO REBALANCE THE BALANCE SHEET AND THAT MEANS DIVESTING OF UNDER OR NON PERFORMING ASSETS. I THINK FOR MANY PRODUCERS, IT'S TAKING A LOOK AT THEIR LAND BASE.
PORK INDUSTRY HANDLES FINANCIAL CHALLENGES WELL:
HE SAYS ONE SEGMENT THAT SEEMS TO BE HANDLING THE CURRENT FINANCIAL CHALLENGES WELL IS THE PORK INDUSTRY. HE SAYS AT CURRENT MARGINS AND DUE DILIGENCE, THE OUTLOOK FOR 2017 IS GOOD. SOME OF THE DRIVING FORCE BEHIND THE LEAN HOG MARKET IS DEMAND FROM CHINA. CURRENTLY PIG PRICES IN THAT COUNTRY ARE NEAR RECORD HIGHS FOLLOWING FLOODING IN CHINA'S CENTRAL AND SOUTH.  THOUSANDS OF ANIMALS DROWNED AND NOW THERE'S CONCERN ABOUT DISEASE. DOMESTIC PIG PRICES ARE UP 51 PERCENT THIS YEAR ALONE.  RABOBANK EXPECTS IMPORTS TO CHINA WILL SURGE 30 PERCENT TO MORE THAN 2 MILLION TONS OF PORK AND PORK VARIETY MEAT THIS YEAR ALONE.
WHEAT PRICES:
AS U.S. WHEAT PRICES WORK TO CLIMB OUT OF THE BASEMENT, CROP PROBLEMS IN OTHER COUNTRIES COULD HELP. IN FRANCE, FARMERS ANTICIPATE THE SMALLEST WHEAT CROP IN 3 DECADES FOLLOWING HEAVY RAINS AND POOR CROPS. FRANCE IS THE LARGEST WHEAT PRODUCER IN THE E-U.
YIELDS ARE CURRENTLY 24 PERCENT BELOW THE FIVE YEAR AVERAGE.
CROP COMMENTS:
SPEAKING OF CROP CONDITIONS... LET'S CHECK IN WITH MIKE HOFFMAN FOR THIS MORNING'S CROP COMMENTS. MIKE. GOOD MORNING, CLINTON. LET'S START OFF WITH A LOOK AT THE WHEAT CROP IN ROGERS, NORTH DAKOTA. FARMERS IN THAT AREA TELL US YIELD IS ESTIMATED TO BE IN THE 50 TO 70 BUSHEL AN ACRE RANGE-PRETTY GOOD FOR THE AREA! AND TAKE A LOOK AT THESE TALL SOYBEANS IN EAST-CENTRAL ILLINOIS!
DROUGHT MONITOR:
FARMER RON HAASE SAYS HE'S GETTING A LITTLE HELP SCOUTING BEANS TODAY.  ACCORDING TO USDA, 77 PERCENT OF ILLINOIS' BEAN CROP IS RATED GOOD TO EXCELLENT. AND TAKING A LOOK AT THE DROUGHT MONITOR YOU CAN SEE THE SOUTHEASTERN AREAS CONTINUE TO GET DRYER AS WELL AS THE EASTERN LAKES AND THE BLACK HILLS AND WESTWARD IN SOUTH DAKOTA WE'LL HAVE YOUR FORECAST COMING UP BUT NOW HERE ARE SOME HOMETOWN TEMPS.
TEASE:
STILL TO COME, ITS OUR WEEKLY PRO FARMER PROFIT BRIEFING. THE TEAM IS TALKING CATTLE AND HOG MARKETS AND WHAT TO EXPECT IN THE PROTEIN SECTOR. AND LATER, FROM THE PARLOR TO THE POOL. A YOUNG WOMAN FROM A WISCONSIN DAIRY PUSHES FORWARD ON HER DREAM TO COMPETE IN THE SUMMER OLYMPICS.
FROM THE FLOOR OF THE CME:
IN AGRIBUSINESS LETS SEE HOW MARKETS MOVED AS WE PREPARE TO WRAP UP ANOTHER WEEK OF TRADE.  DETAILS FROM THE FLOOR OF THE CME IN CHICAGO.  WE'VE BEEN TRADING RED MOST OF THE MORNING AND AFTERNOON SINCE THEN CORN, SOYBEANS AND WHEAT WERE ALL IN THE RED. I WANT TO START LOOKING AT THE CORN CONTRACT AS USUAL BY LOOKING AT DECEMBER SPECIFICALLY A COUPLE KEY LEVELS THAT WE'RE LOOKING AT. THERE WE'RE LOOKING AT THREE FORTY SIX TO THREE FORTY EIGHT IS A LEVEL THAT WE'VE BEEN WATCHING FOR A LONG TIME. THAT WAS PREVIOUS SUPPORT, UH THIS YEAR AND GOING BACK YEAR AS WELL GOING BACK TO LAST MAY AS WELL. WE FAILED TO GET OUT ABOUT THAT THE HIGH THREE FORTY SIX HERE TODAY.THAT LED THIS A LONG LIQUIDATION SO SINCE THE PRESSURE COME BACK INTO THE MARKET AND NOW I WOULDN'T BE TOO SURPRISED TO SEE IF WE GO TEST THOSE CONTRACT LOWS AT THREE THIRTY THREE AND A QUARTER WHICH ISN'T SO FAR AWAY ANYMORE. THIS HAS BEEN OLIVER SLOUP WITH II TRADER FROM THE FLOOR OF THE CME.
PROFARMER:
IN TODAY'S PROFARMER PROFIT BRIEFING THE TEAM TAKES ON RECENT CATTLE AND HOG PRICES INCLUDING A LOOK WHERE THESE MARKETS MAY BE HEADED.  BRIAN, THIS CATTLE MARKET -BOTH THE FATS AND THE FEEDERS -HAVE BEEN UNDER PRESSURE FOR QUITE SOME TIME. AND THEN WE FINALLY GOT A BREATH OF FRESH AIR IN THAT CATTLE ON FEED REPORT THAT SUGGESTS MAYBE THE CALVES AREN'T GOING IN THE FEEDLOT QUITE AS FAST AS THEY AS THE MARKET ANTICIPATED. STILL A PRETTY QUICK CLIP BUT A LITTLE BIT SLOWER THAN WHAT THE MARKET ANTICIPATED AND THE CATTLE MARKET RESPONDED VERY FAVORABLY TO IT.
NATIONAL WEATHER:
WELCOME BACK TO AGDAY WITH MIKE HOFFMAN. MIKE, AS WE LOOK AT THE DROUGHT MONITOR, WE CAN KIND OF SEE POCKETS STARTING TO DEVELOP. I WOULD SAY THAT THERE ARE THREE OF THEM IN THE GROWING AREAS ANYWAYIN THE SOUTHEAST EASTERN LAKES AND THE WESTERN PORTIONS OF NORTH DAKOTA IN THE WYOMING.  GOING BACK FOUR WEEKS HOWEVER THINGS LOOK A LITTLE BIT DIFFERENT. YOU CAN SEE THERE WERE SEVERAL POCKETS TRYING TO DEVELOP BUT WE'VE HAD RAIN OVER THE PAST FEW WEEKS AND THAT'S KIND OF GIVEN SOME AREAS ACROSS MOST OF THE CORN BELT A FAIR AMOUNT OF MOISTURE AND YOU CAN SEE HOW THE TWO FOR THE THREE MAIN AREAS REALLY HAVE DEVELOPED THOUGH JUST OVER THE PAST COUPLE OF WEEKS. IT SEEMS LIKE ACROSS MOST OF THE CORN BELT EVERY TIME WE GOT A LITTLE DRY AREA AND WE'D GET A LITTLE RAIN THEY CAN EVER TAKE IT AWAY SO LET'S SPEND SOME GOOD NEWS IS THAT THOSE OF THE THREE POCKETS WILL HAVE TO BE WATCHING OVER THE NEXT COUPLE OF WEEKS. THERE'S OUR WEATHER MAP THIS MORNING COUPLE HOURS OF LOW PRESSURE ONE NEAR PITTSBURGH.
REGIONAL WEATHER:
THAT'S A LOOK ACROSS A COUNTRY NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS. BAKERSFIELD, CALIFORNIA FIRST OF ALL SUNNY AND QUITE HOT RECORD-HEAT POSSIBLE HIGH OF ONE 111 SPENCER, IOWA MIX OF SUN AND CLOUDS, NOT TOO BAD HIGH OF SEVENTY FIVE. AND LAKE CITY, FLORIDA PARTLY SUNNY HOT AND HUMID HIGH NINETY SIX.
TEASE:
STILL TO COME FIND OUT HOW THE WORK ETHIC AND DETERMINATION THAT DRIVES OLYMPIC ATHLETES ARE ALSO FOUND IN FARM KIDS. AND THIS GREAT AMERICAN BARN HAS A UNIQUE HIDING SPOT FOR VEGETABLES. DETAILS WHEN AGDAY CONTINUES.
GREAT AMERICAN BARNS:
TODAY'S GREAT AMERICAN BARN TAKES US TO NORTH CENTRAL INDIANA WHERE VISITORS ARE ENTHRALLED BY ROUND BARNS.  THE BOEHNER FAMILY OF PLYMOUTH OWN THIS PARTICULAR BARN. IT WAS BUILT BY FARMER GEORGE RAMSEY IN 1911. IT HAS A DIAMETER OF 60 FEET WITH A CENTRAL CONCRETE SILO. THE ROUND BARN FEATURED ANIMAL STALLS AND DAIRY STANCHIONS ON THE PERIMETER WALL OF THE LOWER LEVEL, WITH HAY AND GRAIN STORAGE IN THE LARGE LOFT SPACES ABOVE. AND YOU MIGHT FIND THIS INTERESTING, BUT THE FLOOR OF THE SILO IS EIGHT FEET DEEPER THAN THE BARN'S BASEMENT. IT WAS USED TO STORE ROOT VEGETABLES. DURING THE LATE 1800'S AND EARLY 1900'S, THE ROUND BARN DESIGN BECAME POPULAR, PRIMARILY IN INDIANA AND OHIO.
TEASE:
WHAT DO MANY FARM KIDS AND WORLD CLASS ATHLETES HAVE IN COMMON ? THIS OLYMPIC-CALIBER SWIMMER SHARES THE SECRET, NEXT ON AGDAY.
IN THE COUNTRY:
 ONE WEEK FROM TODAY THE 2016 OLYMPIC GAMES WILL OPEN IN BRAZIL. WHAT'S YOUR FAVORITE EVENT? FOR A FARM KID FROM SOUTHEAST WISCONSIN, SHE'S ALL ABOUT SWIMMING. IN THIS VIDEO FROM THE WISCONSIN MILK MARKETING BOARD, WE HEAR HOW EMILY MCCLELLAN'S UPBRINGING ON A DAIRY FARM INSTILLED THE DETERMINATION AND WORK ETHIC NEEDED TO COMPETE AT THE OLYMPIC LEVEL. ALTHOUGH EMILY MCCLELLAN WAS RAISED ON A DAIRY FARM IN DELAVAN, WISCONSIN, SHE DREAMED OF BEING IN THE OLYMPICS!
CLOSING:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR MIKE HOFFMAN, AND ALL OF US AT AGDAY. I'M CLINTON GRIFFITHS. HAVE A GREAT DAY.
PROMO:
I'M CLINTON GRIFFITHS. MONDAY ON AGDAY MACHINERY PETE IS HERE WITH HIS WEEKLY INSIGHT TO USED FARM EQUIPMENT DEALS. HEADING INTO AUGUST, WE'LL SEE WHERE GRAIN MARKETS ARE HEADED. TUNE IN WEEKDAYS HERE ON AGDAY.

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