AgDay Daily Recap -November 14, 2014

November 14, 2014 02:57 AM
 

TODAY ON AGDAY
NOVEMBER 14, 2014

OPEN HEADLINES:
COMING UP TODAY ON AGDAY - NEW REPORTS SHOW LAND VALUES FALLING BUT NOT AS FAST AS YOU'D THINK. THE AG INDUSTRY PRESENTS A PLAN TO PROTECT PERSONAL FARM DATA.IN THE PROFARMER PROFIT BRIEFING....GRAINS ARE DOWN, WILL FERTILIZER PRICES FOLLOW? SUPPLIES ARE GOING TO BE A LITTLE BIT TIGHTER KEEP THE DOWNSIDE LIMITED FOR FERTILIZER A GREAT AMERICAN BARN FROM NORTHERN INDIANA THAT'S SHORT ON CORNERS. AND FAVORITE OF HOLIDAY BAKERS, WE'LL CHECK IN ON PECAN HARVEST DOWN IN LOUISIANA. AGDAY-BROUGHT TO YOU BY CHEVY SILVERADO 2014 NORTH AMERICAN TRUCK OF THE YEAR.
FED REPORT:
GOOD MORNING I'M CLINTON GRIFFITHS. TWO KEY REGIONS OF FARM COUNTRY FEEL THE IMPACT OF SLIDING GRAIN PRICES AS FARMLAND VALUES CONTINUE TO HEAD SOUTH...AND THAT'S OUR TOP STORY ON AGDAY.
CHICAGO FED:
FARMLAND VALUES IN THE SEVENTH FEDERAL RESERVE DISTRICT WHICH COVERS THE CORE OF THE CORN BELT - ARE DOWN TWO PERCENT FROM THE PREVIOUS QUARTER. BUT THEY WERE UNCHANGED FROM THE SAME TIME LAST YEAR. STATE BY STATE, VALUES OF "GOOD" FARMLAND IN ILLINOIS AND IOWA WERE DOWN. BUT INDIANA AND MICHIGAN ARE UP FOR THE QUARTER AND FOR THE YEAR OVER YEAR COMPARISION.
KC FED:
THE KANSAS CITY FEDERAL RESERVE ALSO RELEASED ITS QUARTERLY REPORT. IN THE TENTH DISTRICT - WHICH COVERS THE CENTRALS PLAINS - NON-IRRIGATED AND IRRIGATED CROPLAND VALUES DECLINED FROM THE PREVIOUS QUARTER, BUT WERE SLIGHTLY HIGHER COMPARED TO LAST YEAR. RANCHLAND SHOWS THE BIGGEST GAINS - UP FIVE PERCENT YEAR OVER YEAR. BUT IT IS AT A SLOWER PACE.
DELTA LAND:
SOME OF THE MOST ATTRACTIVE FARMLAND PRICES RIGHT NOW MAY BE IN THE DELTA REGION. LANDOWNER NEWSLETTER EDITOR MIKE WALSTEN SAYS FARMLAND IN ARKANSAS, MISSISSIPPI AND LOUISIANA ARE HOLDING THEIR VALUE. RECENT SALES PUT PRICES AROUND 35-HUNDRED TO FOUR THOUSAND DOLLARS AN ACRE.
LOOKING FORWARD:
MOVING FORWARD, 56 PERCENT OF THE BANKERS SURVED FOR THE CHICAGO DISTRICT EXPECT FARMLAND VALUES TO DECREASE IN THE NEXT QUARTER.  ACCORDING TO ECONOMIST AT THE CHICAGO FED, THIS IS THE FIRST TIME SINCE 1998 THAT A MAJORITY OF RESPONDENTS EXPECTED A DROP.
EU GMO:
MEANWHILE MEMBERS OF THE EUROPEAN PARLIAMENT VOTING TO ALLOW INDIVIDUAL COUNTRIES TO BAN THE CULTIVATION OF GMO CROPS EVEN IF THEY'RE APPROVED BY THE ENTIRE UNION…LEADERSHIP SAYS THE MEASURE GIVES MEMBER STATES FLEXIBILITY WHILE STILL SETTING A CLEAR PROCESS FOR THE AUTHORIZATION OF GMO'S AT THE E-U LEVEL.
CROP WATCH:
FARMERS ARE GETTING CLOSE TO PARKING THEIR COMBINES FOR ANOTHER SEASON. MIKE HOFFMAN HAS DETAILS FROM KANSAS IN CROPWATCH, MIKE.
CME REPORT:
IN AGRIBUSINESS IT WAS ANOTHER GOOD DAY FOR WHEAT AND CORN MARKETS.
LET'S HEAD TO THE FLOOR OF THE CME GROUP IN CHICAGO FOR DETAILS OF THE DAY'S TRADE.
PROFIT BRIEFING:
WHEN IT COMES TO FALL APPLIED NITROGEN, ANALYSTS SAY ACRES ARE DOWN.IS IT BECAUSE OF HARVEST, HIGH PRICES OR BOTH. HERE WITH A LOOK AT THAT MARKET AND WHAT TO EXPECT IN SPRING ARE BRIAN GRETE AND DAVIS MICHAELSON FROM OUR PROFARMER STUDIOS IN CEDAR FALLS IOWA.
WX:
WELCOME BACK TO AGDAY WITH METEOROLOGIST MIKE HOFFMAN. MIKE, SOME INTERESTING WEATHER THIS WEEK TO SAY THE LEAST. IT REALLY IS. SOME OF THE LAKE EFFECT AREAS HAVE BEEN POUNDED AND OTHER SPOTS DOWN THE ROAD HAVE NOT. STORM SYSTEM MOVING UP THE EAST COAST AND ANOTHER UP WEST, BUT IT'S THE COLD THAT'S A BIG DEAL. THAT HAS GONE ALL THE WAY INTO THE CENTRAL GULF OF MEXICO. THIS IS MORE LIKE A JANUARY OUTBREAK OF COLD WEATHER. NOW NOT LIKE WE SAW LAST WINTER. DON'T GET ME WRONG THERE, BUT NOT LIKE NOVEMBER TEMPERATURES BUT JANUARY. IT DID SET SOME RECORDS HERE AND THERE. HERE'S THE DOME OF HIGH PRESSURE, BRINGING IN THAT COLD AIR, DOMINATING THE ENTIRE CORN BELT. THE ONLY PLACE GETTING SNOW DOWNWIND FROM THE STORM AND THE GREAT LAKES AREAS…ONE PLACE WILL GET A DUSTING, WHILE OTHERS WILL GET INCHES. ANOTHER SYSTEM IS COMING IN; YOU CAN SEE THAT ACROSS THE ROCKIES. THAT WILL PRODUCE HEAVY SNOW IN SOME HIGHER ELEVATIONS. THAT'S GREAT NEWS FOR THE SKI RESORTS. BUT DRY WEATHER CONTINUES ACROSS OF THE CORN BELT, EXCEPT FOR THE GREAT LAKES AREAS, BUT THAT WILL DIMINISH AS WE HEAD INTO TONIGHT. THE WINDS WILL SHIFT A LITTLE BIT. THEN, LOOK WHAT HAPPENS. THIS AREA OF LOW PRESSURE GOES INTO THE PLAINS, AND GULF MOISTURE GETS INVOLVED AND YOU START TO SEE SOME SNOW BREAKING OUT IN PARTS OF KANSAS AND NEBRASKA. THAT'S GOING TO BE PRODUCING SOME SNOW AS WELL. AS WE GO INTO THE DAY TOMORROW AND INTO THE WEEKEND, THERE WILL BE LIGHT SNOWS IN THE CENTRAL AND NORTHERN MISSISSIPPI RIVER VALLEY AND RAIN SHOWERS INTO THE VALLEYS. THEN ADD ANOTHER SYSTEM COMING OUT WEST. THAT'S SOME GOOD NEWS HEADING INTO CENTRAL AND NORTHERN CALIFORNIA OVER THE NEXT WEEK OR TWO. WE DO SEE MORE SYSTEMS. LET'S CHECK PRECIPITATION OVER THE PAST 24 HOURS. YOU CAN SEE NOT A LOT. THE LAKE EFFECT SNOW CAN BE HEAVY, BUT IT DOESN'T PUT DOWN MUCH MOISTURE.ADD ON THE NEXT 36 HOURS, YOU CAN SEE HOW THE STREAK OF SNOW COMES EASTWARD INTO THE PLAINS STATES. STILL SOME LAKE EFFECT TO KICK UP AS WELL…HERE'S SOME SNOW OVER THE NEXT 24 HOURS. IT'S DOWNWIND FROM THE LAKES. WE HAVE SEEN PLACES WITH HALF A FOOT OF SNOW. LOOK WHAT HAPPENS AS WE HEAD INTO THE DAY TOMORROW. THE SNOW BREAKS OUT AND OUR COMPUTER IS SHOWING 4 TO 6 INCHES INTO KANSAS AND CENTRAL PORTIONS OF MISSOURI. YOU CAN SEE HIGHS IN THE TEENS AND IT'S 40'S ALL THE WAY DOWN TO THE GULF COAST. THAT'S INCREDIBLE. LOW TEMPERATURES INTO THE NIGHT…THEN IT WILL BE EXTREMELY COLD AGAIN INTO THE NORTH AGAIN AND LOTS OF SINGLE DIGITS AND TEENS ACROSS THE GREAT LAKES. SOME AREAS WILL GET FREEZES THAT JUST HAVE NO BUSINESS GETTING A FREEZE THIS TIME OF YEAR. LOW TEMPERATURES TOMORROW AFTERNOON. WE ARE LOOKING AT TEENS AGAIN AND 20'S AND 30'S IN THE OHIO RIVER VALLEY. HERE IS THE JET STREAM. THERE IS A ROTATING AREA AROUND HUDSON BAY THAT WILL PUMP IN AIR. NEXT WEEK WILL BE THE COLDEST AIR. THAT WILL BE COLDER AIR THAN WHAT WE'VE EVEN SEEN. THERE'S STILL COLD AIR COMING INTO THE EASTERN HALF OF THE COUNTRY. THAT'S A LOOK ACROSS THE COUNTRY. NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS. FOR PRESCOTT, ARIZONA, IT'S MOSTLY MILD AND CLOUD WITH A HIGH TEMPERATURE OF 61 DEGREES. GRAND ISLAND, NEBRASKA IS A MIXTURE OF SUNSHINE AND COLD. THE HIGH IS 27. HARRISBURG, PENNSYLVANIA, IS BREEZY AND COLD. THE HIGH IS 42.

 

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