AgDay Daily Recap -October 23, 2014

October 23, 2014 02:57 AM
 

TODAY ON AGDAY
OCTOBER 23, 2014

OPEN HEADLINES:
COMING UP TODAY ON AGDAY - THE RAPID RISE IN THE AMOUNT OF CORN USED IN ETHANOL IS SLOWING DOWN. PLUS, A NEW EPA PROGRAM HOPES TO PUT A RATING ON SPRAY DRIFT. IN AGRIBUSINESS...FIGURING OUT THE CATTLE MARKETS...LAST WE SAW TWO LIMIT DOWN DAYS FOLLOWED A LIMIT DOWN NIGHT SESSION THAT ENDED UP BEING A LIMIT UP DAY SESSION FOLLOWED BY A LIMIT DOWN DAY AND A NEW INNOVATION CENTER IN AKRASAS IS HOPING TO HELP FOLKS BUILD BUSINESSES USING LOCALLY GROWN PRODUCTS. AGDAY-BROUGHT TO YOU BY CHEVY SILVERADO 2014 NORTH AMERICAN TRUCK OF THE YEAR.
E15:
GOOD MORNING I'M CLINTON GRIFFITHS. THE RAPID GROWTH IN USE OF U-S CORN TO PRODUCE ETHANOL HAS APPEARED TO LEVEL-OFF....AND THAT'S OUR TOP STORY ON AGDAY.
E15 COURT:
IN A MOVE THAT COULD CHANGE THINGS, THE U.S. CIRCUIT COURT OF APPEALS FOR THE DISTRICT OF COLUMBIA JUST DECIDED AGAINST THE AMERICAN PETROLEUM INSTITUTE AND THE ENGINE PRODUCTS GROUP IN A CASE REGARDING E15. EPA GRANTED A WAIVER IN 2011 TO ALLOW RETAILERS AND CONSUMERS CHOOSE E15 - A BLEND OF UP TO 15 PERCENT ETHANOL.  FOR ALL 2001 AND NEWER MOTOR VEHICLES. A-P-I AND THE ENGINE PRODUCTS GROUP SUED SAYING THE MOVE COULD CAUSE DAMAGE. THE COURT DISAGREED SAYING "THEY CANNOT SHOW THAT THEIR MEMBERS HAVE SUFFERED OR ARE THREATENED WITH SUFFERING A RELEVANT INJURY," DUE TO E15.
EPA DRIFTS:
THE E-P-A IS TAKING STEPS THIS WEEK TO REDUCE PESTICIDE SPRAY DRIFT. THE AGENCY ANNOUNCED A NEW "DRIFT REDUCTION TECHNOLOGY" PROGRAM - OR D-R-T. RIGHT NOW, IT'S VOLUNTARY.
EBOLA FARMERS:
IN GLOBAL NEWS, INTERNATIONAL RELIEF ORGANIZATIONS SAY A FOOD CRISIS IS BUILDING IN WEST AFRICA AS FARMERS REFUSE TO WORK BECAUSE OF CONCERNS OVER THE EBOLA VIRUS. AFRICAN LEADERS SAYING IN THE COUNTRIES WHERE EBOLA IS WIDESPREAD SAY 40% OF FARMS ARE LEFT IDLE.
CITRUS GREENING  DOGS:
AGRICULTURE AND CITRUS GROUPS IN CALIFORNIA ARE TRYING TO PREVENT A WIDESPREAD INFESTATION OF A DEVASTATING CITRUS DISEASE LIKE WE'VE SEEN IN FLORIDA.
THE CALIFORNIA CITRUS RESEARCH BOARD SAYS IT HAS CONTRACTED FOR TWO DOGS THAT CAN SNIFF OUT THE PLANT DISEASE KNOWN AS HLB - ALSO KNOWN AS CITRUS GREENING. THE DOGS ARE BEING TRAINED IN FLORIDA, WHERE HLB HAS KILLED CITRUS TREES. THE DISEASE IS SPREAD BY TINY INSECTS CARRYING A BACTERIA  MEANWHILE, AUTHORITIES HAVE EXPANDED A PLANT QUARANTINE IN KERN COUNTY, DUE TO NEW FINDS OF AN INSECT THAT CAN CARRY THE CITRUS DISEASE.
TEASE:
WHEN WE COME, A STOP OVER AT CME TO SEE HOW MARKETS FINISHED UP. PLUS, FARM DIRECTOR AL PELL DIGS INTO CATTLE MARKETS AT THE ANALYSIS DESK.
ANALYSIS INTRO:
THERE'S BEEN PLENTY OF UP AND DOWN MOVEMENT IN THE CATTLE MARKETS RECENTLY, FARM DIRECTOR AL PELL HAS OUR ANALYSIS.
ANALYSIS SIEFRIED:
OUR GUEST HERE AT THE AGRIBUSINESS DESK WE'RE TALKING TO TED SEIFRIED ONE OF THE THINGS WE'VE BEEN TALKING ABOUT OFF CAMERA AND THAT IS THAT THE CATTLE PRICES AND WHERE THEY'VE BEEN TO LIMIT UP LIMIT DOWN LIMIT UP LIMIT DOWN WHERE ARE THEY GOING TO STAY TED?  YEA THAT'S A GREAT POINT LAST WE SAW TWO LIMIT DOWN DAYS FOLLOWED A LIMIT DOWN NIGHT SESSION THAT ENDED UP BEING A LIMIT UP DAY SESSION FOLLOWED BY A LIMIT DOWN DAY IT'S BEEN VERY WILD VOLATILITY WHICH SOMETIMES IS INDICATIVE OF A TOPPING FORMATION BY THE WAY. NOW A LOT OF PEOPLE BEEN SAYING THAT WAS BECAUSE THE OUTSIDE MARKETS HAD TO HAVE A PLACE TO INVEST AND THEY WANTED TO GET THEIR MONEY THERE AND THEY WERE PLAYING WITH IT TO. YEA THAT HAS THAT HAS THAT CERTAINLY HAS AN EFFECT ON IT AS WELL. OKAY. BUT YOU'VE GOT A FEW THINGS HAPPENING IN THE CATTLE MARKET AT THE MOMENT ONE IS THE OUTSIDE MARKETS AND THE UNCERTAINTY THAT WE HAVE THERE IS CAUSING SPECULATORS TO BE VERY AFRAID OF REALLY ANYTHING AT THIS POINT AND THE IDEA THAT EBOLA COULD IN A LONG TERM AFFECT HAVE A MAJOR EFFECT ON OUR EXPORTS AT SOME POINT WHICH I DON'T THINK IS LIKELY THE CASE BUT THERE ARE. BUT WE DON'T KNOW. FEAR RIGHT EXACTLY ALSO AT THE END OR A FEW SESSIONS AGO THERE WERE SOME RUMORS THAT WAS THERE WAS THIS BIG LARGE PRIVATE INVESTOR THAT IS LOOKING TO AMASS A VERY SHORT VERY BIG SHORT POSITION HERE AT CURRENT PRICE LEVELS AND THAT KIND OF SCARED THE MARKET A LITTLE BIT AS WELL BUT I THINK THE BIGGER CONCERN IS THAT YOU MAY START TO SEE PACKERS LOWERING DEMAND NOW AT THIS POINT MAYBE SHUTTING DOWN SOME OPERATIONS AT THESE HIGHER PRICES I MEAN WE ARE FAIRLY INELASTIC AS FAR AS BEEF DEMAND IS CONCERNED BUT NOT COMPLETELY SO WITH HIGHER PRICES WHERE WE'RE AT YOU COULD SEE THAT DEMAND START TO SLOW AND THAT WOULD BE A REAL REASON TO SEE CATTLE PRICE LOWER. SEE THE PRICES GO LOWER A LITTLE BIT AND I JUST SAW A RELEASE TODAY BY RABO BANK THAT SAYS BRAZIL IS GOING TO INCREASE   THEIR BEEF PRODUCTION. ABSOLUTELY….IN A WORLD MARKET...  HIGHER PRICES DO THAT THEY ENCOURAGE PRODUCTION AND THAT'S ABSOLUTELY THE CASE.  THAT'S WHAT HAPPENED WITH CORN DIDN'T IT. THAT'S EXACTLY HAPPENED WITH THE CORN MORE SO LOOK AT SOYBEANS BECAUSE WE'RE GOING TO HAVE A RECORD WORLD CARRYOVER AND THAT'S ONLY GROWING BECAUSE WE'RE GOING TO PLANT MORE ACRES HERE AGAIN THIS YEAR AND SOUTH AMERICA GOING TO KEEP PLANTING RECORDS AS WELL MARKETS ASKED FOR SOMETHING THEY GET IT GENERALLY THEY GET TO MUCH OF IT AND THEN WE HAVE TO BREAK AND SUCH IS THE CYCLE WE COULD BE SEEING THE SAME THING IN CATTLE OVER THE COURSE NEXT YEAR OR SO.  JUST PROVES WE'RE IN A WORLD MARKET.  THAT'S RIGHT. TED SEIFRIED OUR GUEST THIS MORNING HERE ON AGDAY BACK WITH MORE IN A MOMENT.
PROFARMER TEASE:
EVERYBODY'S BRINGING IN RECORD CORN AND SOYBEAN CROPS, BUT IN THE BACK OF THEIR MINDS THEY'RE THINKING ABOUT THE 2015 CROP. WE'RE TALKING FERTILIZERS IN PROFARMERS PROFIT BRIEFING FRIDAY ON AGDAY.
BTR NEVADA SHOOTING:
CATTLE IN NORTHERN NEVADA ARE LITTERALLY COMING UNDER FIRE.
65 HEAD HAVE BEEN SHOT AND WOUNDED WHILE OUT ON RANGE NEAR ELKO NEVADA.
MOST OF THE CATTLE EITHER DIED FROM THEIR WOUNDS OR HAD TO BE PUT DOWN.
AUTHORITIES SAY THE SHOOTINGS APPEAR SIMILAR BUT THERE'S NO EVIDENCE TO PROVE THEY'RE RELATED. CURRENTLY THERE'S A 25-THOUSAND DOLLAR REWARD FOR INFORMATION.
BTR EPA POPULATION:
CATTLE ARE AT THE HEART OF A NEW ENVIRONMENTAL PETITION IN WISCONSIN...CLAIMING MORE DAIRY COWS ARE POLLUTING WATER IN NORTHEASTERN WISCONSIN.
ITC FOOD INNOVATION:
AS A WAY TO BATTLE POVERTY AND FOOD INSECURITY, USDA LAUNCHED A PROGRAM CALLED THE STRIKEFORCE INITIATIVE. THE IDEA IS TO LEVERAGE RESOURCES OF THE AG DEPARTMENT ALONG WITH LOCAL PARTNERS - LIKE UNIVERSITIES. TOGETHER THEY TRY TO CREATE OPPORTUNITIES FOR FARMERS AND ENTREPRENEURS TO BUILD BUSINESSES USING LOCALLY GROWN PRODUCTS.IN THIS REPORT FROM THE ARKANSAS FARM BUREAU, KEN MOORE TELLS US ABOUT THE 'INNOVATION CENTER'.
CLOSE:
USDA'S STRIKEFORCE INITIATIVE WAS INITIALLY LAUNCHED IN ARKANSAS, GEORGIA AND MISSISSIPPI - THREE STATES THAT HAS PERSISTENT HIGH LEVELS OF PEOPLE ON GOVERNMENT ASSISTANCE. SINCE THEN, THE PROGRAM HAS EXPANDED TO 20 STATES. THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.

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