AgDay Daily Recap -October 21, 2014

October 21, 2014 02:57 AM
 

TODAY ON AGDAY
OCTOBER 21, 2014

HEADLINES:
COMING UP TODAY ON AGDAY - COUNTRY OF ORIGIN LABELING IS BACK UP FOR REVIEW FOLLOWING ANOTHER REVIEW BY THE WTO. PLUS, COTTON GETTING PICKED DOWN SOUTH. IN AGRIBUSINESS...IT'S A LOOK AT PLANTING IN SOUTH-AMERICA. WE'RE WORRIED ABOUT WHETHER WE'LL HARVEST IN TIME AND WHETHER WE'LL GET THAT SECOND CROP IN. MILK PRODUCTION CONTINUES TO RISE...AND THE RISE OF HARD APPLE CIDER. AS THE DRINK GAINS POPULARITY SO DOES THE MARKET OPPORTUNITY FOR GROWERS. AGDAY BROUGHT TO YOU BY CHEVY SILVERADO 2014 NORTH AMERICAN TRUCK OF THE YEAR.
WTO RULING:
GOOD MORNING I'M CLINTON GRIFFITHS. THE WORLD TRADE ORGANIZATION RULES IN FAVOR OF CANADA AND MEXICO, SAYING A U-S LABELING LAW ON MEAT PRODUCTS IS STILL UNFAIR.
...AND THAT'S OUR TOP STORY ON AGDAY.
CROP PROGRESS:
IN OTHER NEWS - A FEW WET DAYS LAST WEEK PUT MIDWEST FARMERS A BIT FURTHER BEHIND IN HARVEST.
CROP WATCH:
COTTON PICKERS ARE ROLLING IN NORTH CAROLINA. MIKE HOFFMAN WITH DETAILS FROM THE AGDAY WEATHERCENTER MIKE...
EU FOR GMO:
THANKS MIKE.SIX EUROPEAN FARM GROUPS ARE ASKING THE E-U TO APPROVE EIGHT GENETICALLY MODIFIED GRAIN VARIETIES FOR FOOD AND FEED PROCESSING BEFORE THE CURRENT COMMISSION LEAVES OFFICE NOVEMBER FIRST. THE GROUPS SAY IN A JOINT RELEASE THAT THE GRAINS "HAVE SCIENTIFICALLY PROVED TO BE SAFE," AND SHOULD BE APPROVED "TO AVOID A FURTHER THREAT TO THE EU FOOD AND FEED SUPPLY AND MARKET BALANCE." ADDING THAT ANY FURTHER DELAYS WILL RESULT IN A "SUICIDAL SITUATION" FOR EUROPEAN GROWTH AND COULD LEAD TO A DISRUPTION FOR FOOD AND FEED BUSINESSES.
MONSANTO GMO:
MEANWHILE HERE AT HOME, USDA'S ANIMAL AND PLANT HEALTH INSPECTION SERVICE ANNOUNCING NON-REGULATED STATUS FOR A NEW SOYBEAN VARIETY DEVELOPED BY MONSANTO.IT'S GENETICALLY ENGINEER TO RESIST CERTAIN INSECTS INCLUDING FAL ARYWORMS, VELVET-BEAN CATERPILLARS, AND LOOPERS. APHIS SAYS IN IT'S DETERMINATION THAT THE VARIETY WOULD HAVE NO SIGNIFICANT IMPACTS ON THE QUALITY OF THE HUMAN ENVIRONMENT NOR ON ANY FEDERALLY LISTED THREATENED OR ENDANGERED SPECIES.
PERDUE ANTIBOTICS FREE:
A PERDUE FARMS BRAND IS NOW VERIFIED AS ANTIBIOTIC FREE, MADE WITH NO ANTIBIOTIC, EVER. THE COMPANY SAYS, ITS' "SIMPLE SMART" BRAND OF FULLY COOKED, FROZEN BREADED PRODUCTS ARE NOW USDA PROCESS VERIFIED FOR BEING MADE FROM CHICKENS RAISED WITH NO ANTIBIOTICS EVER.
TEASE:
STILL TO COME, WE'LL GET OUR DAILY UPDATE FROM THE CME FLOOR. PLUS AL PELL LOOKS AT THE SOYBEAN CROP IN SOUTH AMERICA.
ANALYSIS INTRO:
THANKS. WHILE WE'RE FOCUSED ON HARVEST IN THIS COUNTRY, SOUTH OF THE EQUATOR IT'S PLANTING SEASON. FARM DIRECTOR AL PELL DISCUSSES SOYBEAN PLANTING IN BRAZIL.
ANALYSIS TED SIEFRIED:
HERE WE ARE AT THE AGRIBUSINESS DESK WE'RE TALKING TO TED SIDFRIED FROM ZANER AG HEDGE LET'S TALK A LITTLE BIT ABOUT SOUTH AMERICA BECAUSE THEY ARE IN THE PLANTING STAGE.  THAT'S RIGHT. A LOT OF PEOPLE DON'T THINK ABOUT THAT BUT THEY'RE ON THE BOTTOM SIDE OF THE WORLD. YES RIGHT YEA RIGHT NOW YOU KNOW WE'RE FOCUSING ON OUR HARVEST AND THAT'S WHAT WE'RE THINKING ABOUT BUT WE REALLY NEED TO START THINKING A LITTLE BIT MORE ABOUT SOUTH AMERICA AND SOUTH AMERICA HAS BEEN PART OF THE REASON WHY WE'VE SEEN THIS STRENGTH HERE IN THE LAST 10 SESSIONS OR SO WE'VE GOT SOME ISSUES THERE I MEAN WE HAVE OUR OWN HARVEST WEATHER ISSUES AS WELL OR HAVE HAD NOW IT LOOKS TO BE GETTING BETTER BUT AS FAR AS THEIR CONCERNED WE'RE WORRIED ABOUT PLANTING IN CERTAIN PORTION OF SOUTHERN BRAZIL AND ARGENTINA ARE TOO WET ALTHOUGH THOSE AREAS WILL VERY LIKELY GET THEIR CROPS IN IT'S THE NORTHERN AREA OF BRAZIL OR THE NORTHERN CENTER SWATH OF BRAZIL THAT IS TO DRY AT THE MOMENT AND WE'RE CONCERNED ABOUT PLANTING THERE NOW THIS AREA IS IN AN AREA THAT HAS VERY WARM TEMPERATURES YEAR ROUND IT'S NOT UNCOMMON FOR THEM TO HAVE 100 DEGREE TEMPERATURES IN THE MIDDLE OF THEIR WINTER WHAT'S SEPARATES THEIR SEASON THOUGH IS WHETHER THEY'RE GETTING RAIN OR NOT. MOISTURE.  EXACTLY AND SO FOR THIS ONE IT'S THE RAIN HAS BEEN HAS HASN'T COME YET IT SHOULD HAVE COME MAYBE A LITTLE BIT EARLIER IT WILL COME VERY LIKELY AND THEIR FORECAST IS KIND OF BREAKING UP THAT HIGH PRESSURE IS BREAKING UP AND ALLOWING FOR SOME MORE RAIN NEXT WEEK SO WE'RE HOPING FOR SOME PROGRESS THERE BUT IF THAT SITUATION WERE TO DRAG OUT THE CONCERN WOULD BE THE DOUBLE CROP AND YOU KNOW WE'RE EXPECTING TO SEE A LOT OF SOYBEAN FOLLOWED BY CORN.  DOUBLE CROPS RIGHT...YEA CORN AS THE AS YOUR DOUBLE CROP AND IF WE CAN'T GET THE SOYBEANS IN ON TIME OR THAT FIRST CROP IN TIME WE'RE WORRIED ABOUT WHETHER WE'LL HARVEST IN TIME AND WHETHER WE'LL GET THAT SECOND CROP IN AND RIGHT IF YOU LOOK AT FERTILIZER SALES AT THE MOMENT FOR CORN FOR THAT SECOND CROP THEY'RE REALLY VERY LOW A LOT LOWER THAN THEY WERE THIS TIME LAST YEAR AND I THINK THAT CORRELATES VERY MUCH WITH THE FACT THAT PLANTING IS ON DELAY IF WE GET PLANTED IN THE SOMEWHAT REASONABLE FASHION IN THE NEXT COUPLE WEEKS THEN I THINK YOU DO SEE THAT THAT PRODUCERS GET READY FOR CORN AS A DOUBLE CROP IF NOT YOU MIGHT SEE BEANS AGAIN.  FROM A WORLD PRODUCTION STANDPOINT THAT'S IMPORTANT BECAUSE THEY ARE BIG PRODUCERS NOW QUESTION ABOUT IT.  THEY ARE BIG PRODUCERS RIGHT.  ALRIGHT THANK YOU VERY MUCH TED SIEFRIED OUR GUEST HERE AT AGDAY BACK WITH MORE IN A MOMENT.
WX:
WELCOME TO AG DAY WITH METEOROLOGIST MIKE HOFFMAN. PEOPLE WANT TO KNOW ABOUT WINTER. WE SEE OPPOSITE FORECASTS, BUT WHERE ARE WE AT? I WOULD LEAN MORE TOWARD THE COLD. THERE ARE A COUPLE OF REASONS FOR THAT. A WEAK EL NINO DOES GIVE US A COLDER THAN NORMAL WINTER THROUGH THE CORN BELT BUT ALSO THE WARM WATER IN THE EASTERN PART OF THE PACIFIC. IT'S THE SAME THING. THAT WAS THERE LAST WINTER BUT THAT WILL LEAD TO A BIG RIDGE AND TROUGH IN THE EAST. NOW WE WILL HAVE SOME SYSTEMS MOVE THROUGH THE SOUTHERN TERRACE STATES, HOPEFULLY GIVING US SOME MOISTURE FROM THE EL NINO BUT WITH THE WEAK EL NINO, THAT'S USUALLY NOT AS BIG OF A FACTOR AS A STRONG ONE. THAT DOESN'T HELP CALIFORNIA TOO MUCH BUT WE WILL HAVE TO WAIT AND SEE ON THAT ONE. WITH THE WEATHER MAP THIS MORNING, YOU CAN SEE A SYSTEM OVER THE NORTH EAST, AND ANOTHER CAUSING SOME MOISTURE IN THE NORTH WESTERN PORTIONS OF THE COUNTRY. YOU CAN SEE THE HIGH PRESSURE MOTIONS JUST BARELY HEADING OFF INTO THE EAST. THE STORM SYSTEM WILL GO OFF THE EAST COAST AND KIND OF SIT THERE FOR A WHILE. YOU CAN SEE SOME SHOWERS IN MANY PARTS OF THE CENTRAL AND NORTHERN ROCKIES. WE SEE ANOTHER COLD FRONT COMING IN THE PACIFIC NORTHWEST. THAT WILL CAUSE SOME MORE RAIN TO COME IN FOR YOU FOLKS. YOU HAVE BEEN GETTING ONE SYSTEM AFTER ANOTHER. BY TOMORROW MORNING, HIGH PRESSURE IS SITTING RIGHT NEAR MISSOURI AND IT DOESN'T EXACTLY MOVE A WHOLE LOT. THIS HIGH IS GOING TO BE SITTING THERE MOST OF THIS WEEK. EVEN WITH THIS WARM FRONT COMING IN, THAT COMES IN WITH A LITTLE BIT OF MOISTURE. THAT WILL ARRIVE ALONG THE FRONT FROM MINNESOTA TO WESTERN KANSAS. IT WILL KIND OF WEAKEN AS IT COMES DOWN. I DON'T SEE A LOT OF RAIN OUT OF THIS. SO IF YOU DO GET SOME RAIN WITH THIS, YOU CAN KEEP WORKING IN THE FIELDS BEHIND IT. THE NEXT COLD FRONT HAS A LOT OF MOISTURE. THAT'S COMING INTO THE PACIFIC NORTHWEST. HERE ARE PRECIPITATION ESTIMATES OVER THE NEXT 24 HOURS. YOU CAN SEE THE SCATTERED AREAS ACROSS THE EASTERN GREAT LAKES AND A LITTLE BIT THERE IN NEW MEXICO AND ALSO IN THE NORTHWESTERN PORTION OF THE COUNTRY, ADDING ON THE NEXT 36 HOURS, WE'RE GOING TO ADD A FAIR AMOUNT OUT WEST AND INTO THE ROCKIES. IT WILL BE JUST A BIT INTO THE CENTRAL AND NORTHERN PLAINS AND A FAIR AMOUNT IN NEW ENGLAND AS WELL AS FLORIDA. TAKE A LOOK AT SNOW FALL ESTIMATES. THERE ISN'T A LOT TO SHOW HERE. THE HIGHER ELEVATION IS GOING TO SHOW SEVERAL INCHES AND SOME OF THE NORTHERN AND CENTRAL ROCKY MOUNTAIN AREAS. YOU CAN SEE THE WARMTH EAST OF THE ROCKIES - 70'S ALL THE WAY UP INTO NORTH DAKOTA BUT ONLY 40'S AND 50'S THE GREAT LAKES INTO THE NORTHEAST. CHECKING OUT LOWS TONIGHT, WE'RE GOING TO BE PRETTY COLD AND THE GREAT LAKES AND THE NORTHEAST. IT WILL BE 31 IN SUE SAINT MARIE, 50'S INTO THE CENTRAL PLAINS AND THAT MILD WEATHER WILL CONTINUE INTO THE DAY TOMORROW. IT WILL STILL BE ON THE COOL SIDE BUT PLEASANT ACROSS MOST OF THE GREAT LAKES AND EASTERN CORN BELT. THERE'S THE TROUGH THAT'S SLOW MOVING. IT SITS OFF THE EAST COAST WHICH MEANS NEW ENGLAND CONTINUES TO GET MOISTURE FOR MOST OF THE WEEK. THE RIDGE COMES IN FOR SEVERAL DAYS AND THIS COMPUTER MODEL BRINGS IN A TROUGH AS WE GO INTO NEXT WEEK. THAT'S A LOOK ACROSS THE COUNTRY; NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS. FOR AUSTIN, NEVADA, IS PARTLY SUNNY AND MOSTLY COOL TODAY. THE HIGH TEMPERATURE IS 57 DEGREES. PIERRE, SOUTH DAKOTA IS BREEZY AND WARM WITH LOTS OF SUNSHINE, HIGH AROUND 81. ROCKY MOUNTAIN, NORTH CAROLINA IS PARTLY SUNNY AND A COMFORTABLE AFTERNOON. THE HIGH IS 75.
DTR MILK PRODUCTION:
IN OUR DAIRY TODAY REPORT, USDA RELEASING ITS LATEST MILK PRODUCTION NUMBERS LATE MONDAY.

DTR CANADA CHEESE:
WE MENTIONED THE WORLD TRADE ORGANIZATION'S COUNTRY OF ORIGIN LABELING RULING AT THE TOP OF THE SHOW. OUR PARTNERS AT DAIRY TODAY, SAY IF CANADA DOES IMPOSE RETALITORY TARRIFFS ON THE U.S. IT COULD PUT A STOP TO U.S. CHEESE SHIPMENTS TO THAT COUNTRY. THE U.S. DAIRY EXPORT FEDERATION SAYS CHEESES TYPICALLY SHIPPED TO CANADA IN THE AMOUNT OF 20 MILLION POUNDS A YEAR ARE ON THE RETALIATION LIST.
IT'S ROUGHLY 3 PERCENT OF U.S. CHEESE EXPORTS.
DTR BUTTER PRICES DROP:
BUTTER PRICES FELL THE MOST IN 18 YEARS LAST WEEK ON INCREASING SUPPLIES.
TIGHT STOCKS HELPED BUTTER PRICES HIT A RECORD LAST MONTH---SURGING NEARLY 90 PERCENT ON THE YEAR THROUGH SEPTEMBER.HOWEVER, NEW ZEALAND, THE WORLD'S LARGEST EXPORTER IS PUMPING MORE MILK AND SHIPPING MORE BUTTER. THAT EASING TIGHT SUPPLIES AND DRAGGING PRICES WITH IT...BUTTER NOW ABOUT FIFTY CENTS LOWER THAN IT WAS A MONTH AGO. USDA IS FORCASTING CONSUMPTION TO BE THE SECOND HIGHTEST EVER...AS CONSUMERS SHIFT AWAY FROM MARGARINE...
ITC HARD CIDER:
AS LEAVES TURN COLORS AND TEMPERATURES START TO DIP, ROAD SIDE STANDS AND PUMPKIN PATCHES BEGIN TO OFFER FRESHLY PRESSED APPLE CIDER. BUT IN RECENT YEARS, DEMAND HAS BEEN GROWING FOR HARD CIDER. . . SOMETHING WITH A LITTLE MORE KICK. AS EMILY ROSEMAN TELLS US, CIDER MAKERS ARE TRYING TO KEEP UP WITH DEMAND... AND APPLE GROWERS ARE TAPPING A JUICY NEW REVENUE STREAM.
CLOSE:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.

 

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