AgDay Daily Recap -October 10, 2014

07:57AM Oct 10, 2014
( )

TODAY ON AGDAY
OCTOBER 10, 2014

OPEN HEADLINES:
COMING UP TODAY ON AGDAY - LAND VALUES KEEP TICKING LOWER...HOW BAD IS IT AND WILL IT CONTINUE? PLUS, A MAJOR ENVIRONMENTAL FIRM SAYS ITS READY TO TAKE ON FERTILIZER RUN OFF. IN AGRIBUSINESS...A PREREPORT PREVIEW A TRIP TO ANOTHER GREAT AMERICAN BARN. AND AN ARKANSAS PROGRAM IS FOCUSING ON HELPING AMERICA'S HEROS BECOME THE NEXT GENERATION OF FARMERS. AGDAY-BROUGHT TO YOU BY CHEVY SILVERADO 2014 NORTH AMERICAN TRUCK OF THE YEAR.
LAND VALUES:
GOOD MORNING I'M CLINTON GRIFFITHS. SKYROCKETING LAND VALUES HAVE BEEN FRONT AND CENTER OVER THE LAST FIVE YEARS...NOW IT LOOKS LIKE THE RECORD RUN IS OVER...FOR NOW. AND THAT'S OUR TOP STORY ON AGDAY.
CROP WATCH:
WHILE THE WORLD MOVES AROUND THEM, MANY OF THE NATION'S FARMERS ARE FOCUSED ON FALL HARVEST. LET’S SEE HOW THINGS ARE GOING WITH METEOROLOGIST MIKE HOFFMAN AND TODAY'S CROPWATCH.
PEDV FEED:
THANKS MIKE. THERE'S NEW RESEARCH OUT REGARDING THE SOURCE OF PEDV IN THE NATION'S SWINE HERD.
BB MYCOGEN:
GROWING CORN AND SOYBEANS IS ABOUT MORE THAN JUST YOUR YIELD. IT'S WHAT YOU WRE MEANT TO DO. VISIT ACRES OF POSSIBILITY.COM TO DISCOVER THE POTENTIAL OF MYCOGEN SEEDS.
PROFIT BRIEFING:
LATER TODAY THE USDA WILL BE RELEASING ANOTHER SET OF REPORTS.
MARKET RALLY RADIO HOST CHIP FLORY AND PROFARMER EDITOR BRIAN GRETE GIVE US A PREVIEW IN TODAY'S PROFIT BRIEFING.
PROFIT BRIEFING:
USDA CROP PRODUCTION AND SUPPLY AND DEMAND REPORTS ARE OUT LATER TODAY AND BRIAN THERE'S SOME BIG EXPECTATIONS IN HERE I DON'T THINK IT'S ANY SURPRISE HERE BUT TRADE IS LOOKING AN AVERAGE OR FOR THE CORN CROP TO BE ESTIMATED AT ABOUT 14.5 BILLION BUSHELS. YOU AND THE INTERESTING THING ON THE BREAKDOWN OF THE PRE-REPORT ESTIMATES IS THAT SOME HAVE FACTORED ACREAGE LOSSES.  YEP. LOWER ACREAGE FIGURES LIKE WE HAVE AND OTHERS HAVEN'T AND AS A RESULT YOU GET SOME REALLY BIG NUMBERS IN THERE AND THEN YOU GET SOME MORE THERE WHAT WE CONSIDER MORE REALISTIC.  EXACTLY AND THE ONE THING THAT'S IN COMMON ACROSS THE BOARD IS EVERY BODIES EXPECTING THAT AVERAGE YIELD THE NATIONAL AVERAGE YIELD TO COME UP THE AVERAGE PRE-REPORT TRADE GUESS IS ALMOST 175 BUSHEL PER ACRE. AND I THINK WE WILL SEE THAT NUMBER COME UP I DON'T KNOW IF WE'LL GET ALL THE WAY TO THAT 175 WHICH IS THE AVERAGE GUESS BUT EARLY YIELD REPORTS HAVE PRETTY IMPRESSIVE ACROSS THE BOARD THERE HAVE A BEEN A FEW OUT THERE POCKETS MOSTLY IN THE NORTH EASTERN CORN BELT THAT.  YEP. ON SOME EARLY STUFF THAT HAVE BEEN ON THE DISAPPOINTING SIDE OF THINGS BUT BOY WHEN YOU GET OUT IN THE EASTERN CORN BELT IT'S BEEN REAL IMPRESSIVE. >>> YEA LET'S GIVE THEM SOMETHING LITTLE SOMETHING TO THINK ABOUT HERE AS THAT HARVEST MOVES TO THE NORTH AND TO THE WEST THE AVERAGE YIELDS ARE GOING TO BE COMING DOWN AND THAT I THINK IS WHERE IF WE'RE GOING TO SEE A CAP ON THE NATIONAL AVERAGE YIELD THAT'S WHERE IT'S GOING TO HAPPEN. EXACTLY RIGHT YOU KNOW IT WAS TOO WET IN THE SPRING THEN THEY HAD A MULTITUDE OF DIFFERENT WEATHER EVENTS THAT CAME THOUGH WIND HAIL YOU NAME IT.  YEA,  AND MULTIPLE TIMES IN SOME OF THOSE AREAS FLOODING AND AS A RESULT IT DID TAKE A NICK OUT OF THE SOME OF THAT CROP OUT THERE. >>> OKAY NOW ON THE SOYBEANS SIDE OF THINGS SOME OF THOSE GUYS THAT HAD THE HEAVY JUNE RAINS ARE HAVING A HARD TIME GETTING UP TO THEIR ACTUAL PRODUCTION HISTORY ON THEIR FARMS THEIR APH BUT WE HAVEN'T HAD MUCH HARVEST UP THERE AS A RESULT THE AVERAGE TRADE GUESS IS ALMOST 48 BUSHELS PER ACRE AND A CROP OF 3.98 BILLION JUST CALL IT 4 BILLION BUSHELS FOR THE AVERAGE TRADE GUESS IN HERE. YEA AND REALLY BIG ON THE PRODUCTION SIDE OF THINGS FOR THE BEANS STORAGE YET TO BE TOLD ON THAT ONE ON WHETHER OR NOT YIELDS WILL LIVE UP TO EXPECTATIONS. RIGHT. YOU KNOW HARVEST PACE BOTH ON CORN AND BEANS RUNNING 15 PERCENTAGE POINT BEHIND NORMAL AS OF LAST SUNDAY. YEA OKAY LET'S TAKE IT TO THE BOTTOM LINE AND THE BOTTOM LINE IS CARRYOVER IT'S GOING TO BE BIG ON BEANS.  IT WILL BE EVEN WITH A SMALLER CARRY IN NUMBER SO BEGINNING STOCKS WHICH WE KNOW FROM THE SEPTEMBER 1 STOCKS 92 MILLION BUSHELS SO TIGHT THERE BUT THEN YOU THROW THE RECORD CROP ON TOP OF IT AND YOU'RE GOING TO END UP TRIPLING PROBABLY MAYBE EVEN QUADRUPLING. OH YEA. THE CARRY OVER NUMBER WHEN ALL IS SAID AND DONE THERE…YEA THAT MAKES IT TOUGH TO GENERATE MUCH UPSIDE PRICE MOVEMENT IN THAT BEAN MARKET CORN LITTLE BIT MORE DEBATE ON WHERE CARRY OVER IS GOING TO BE BUT IT'S GOING TO BE AROUND 2 BILLION BUSHELS. IT'S GOING TO BE UP SIGNIFICANTLY FROM WHERE IT ENDED IN 13 14 BUT WHEN YOU COMPARE IT TO BEANS NOT NEARLY AS BEARISH AS WHAT THE BEAN PICTURE IS. YEA THE NEAT THING ABOUT IT IS THE MARKETS ACTING LIKE ALL THIS BEARISH STUFF ALREADY BEEN FACTORED IN.  I THINK SO WHEN YOU LOOK PRICE ACTION WHETHER OR NOT THE LOWS ARE IN PLACE PROBABLY ISN'T AS IMPORTANT AS THE FACT THE MARKET IS WORKING ON PUTTING IN LOWS AT THIS POINT IN TIME. EXACTLY ALRIGHT FOR BRIAN GRETE AND ALL THE EDITORS AT PROFARMER IN CEDAR FALLS IOWA I'M CHIP FLORY.
GAB INTRO:
TODAY'S GREAT AMERICAN BARN DOESN'T HAVE THE AGING LOOK LIKE MANY OF THE BARNS WE FEATURE. BUT IT PLAYS A VITAL ROLE FOR KIDS WANTING TO LEARN ABOUT HORSEMANSHIP. HERE'S AL PELL.
GAB:
TODAY'S GREAT AMERICAN BARN IS A BIT DIFFERENT THAN OUR REGULAR BARNS WE SHOWCASE. IT HAS NOT WEATHERED THE PASSAGE OF TIME, LIKE OTHERS. THIS ONE IN FACT IS A MODERN POLE BARN BUILT IN THE 1980'S. IT WAS ON THE WHITESIDE COUNTY, ILLINOIS FARM BUREAU BARN TOUR THIS SUMMER. OWNERS TOM AND JOAN HARMS RUN A VERY BUSY HORSE STABLE AT "COPPER BIT RANCH". INSIDE THE BARN, THE HARMS HAVE AN INDOOR ARENA AND TWELVE BOX STALLS. JOAN ENJOYS COACHING 4-H'ERS TO PREPARE THEM FOR COMPETITION. AND IN CASE YOU'RE WONDERING ABOUT THE COLOR, YOU MIGHT SUSPECT THEY ARE INDIANAPOLIS "COLTS" FANS. BUT THEY'RE NOT. THEY CHEER ON THE CHICAGO BEARS! OUR THANKS TO THE HARMS FAMILY FOR SHARING THEIR GREAT AMERICAN BARN... I'M AL PELL.
GREAT AM BARNS:
IF YOU HAVE A BEAUTIFUL OR INTERESTING BARN YOU'D LIKE TO SHARE, LET US KNOW. YOU CAN SEND IT TO THE ADDRESS ON THE SCREEN OR EMAIL. BE SURE TO SEND A PHOTO OR TWO AND A LITTLE BIT OF HISTORY. THAT EMAIL ADDRESS IS "GREAT-AMERICAN-BARNS-AT-AGDAY-DOT COM.
ITC VETERANS TO FARMERS:
FROM THE BATTLE FIELD TO THE HAY FIELD A NEW INITIATIVE IN ARKANSAS IS HELPING SOLDIERS LEARN ABOUT AGRICULTURE. FROM AGDAY AFFILIATE KY3-- LINDA RUSSELL REPORTS ON THE EFFORT TO HELP VETERANS INTERESTED IN FARMING MAKE IT A CAREER.

 

Tags: