AgDay Daily Recap -October 30, 2014

October 30, 2014 02:57 AM
 

TODAY ON AGDAY
OCTOBER 30, 2014

OPEN HEADLINES:
WE'LL VISIT TEXAS COTTON COUNTRY - WHERE YIELDS ARE GOOD, BUT PRICES ARE NOT.
EARNINGS REPORTS SHOW HOW LOW PRICED CORN CANS SLOW-DOWN BUSINESS FOR EQUIPMENT MAKERS. IN AGRIBUSINESS....AG SECRETARY VILSACK SHARES HIS FRUSTRATION OVER THE BEEF CHECKOFF. AND GHOST STORIES MAKE A COMEBACK...IN THE COUNTRY. AGDAY-BROUGHT TO YOU BY CHEVY SILVERADO 2014 NORTH AMERICAN TRUCK OF THE YEAR.
RICE PRICES:
PRICES ARE DOWN FOR ANOTHER SOUTHERN CROP - RICE. PRICES AT THE CHICAGO BOARD OF TRADE FELL TO THEIR LOWEST LEVEL SINCE 2010. IN FACT THEY "FELL THE LIMIT" ON TUESDAY. U-S RICE PRODUCTION HAS PUSHED HIGHER. USDA IS FORECASTING A 26-PERCENT RISE IN RICE INVENTORIES. AND INCREASED EXPORTS FROM OVERSEAS PRODUCERS GAVE GRAIN TRADERS A SIGNAL THAT THERE ARE PLENTY OF RICE STOCKS.
TEASE CALI RICE:
COMING UP TOMORROW, AS CALIFORNIA LINGERS IN DROUGHT, HOW HAVE THOSE BONE DRY CONDITIONS AFFECTED A WATER-INTENSIVE CROP, LIKE RICE? BUT IT'S NOT ONLY FARMERS FEELING THE PRESSURE. SO OUR BIG END USERS. THAT STORY TOMORROW ON AGDAY…
SOYBEAN RALLY:
SOYBEANS CONTINUE TO RISE IN CHICAGO. FUTURES CLIMBING FOR A THIRD DAY ON SPECULATION OF PLANTING DELAYS IN BRAZIL…NOVEMBER SOYBEANS NOW TRADING AT THEIR HIGHEST POINT SINCE AUGUST…
FARMER INCOME:
A RALLY IN SOYBEANS THIS FALL MAY HELP SOW DECISIONS FOR FARMERS HEADING INTO 2015. NEW ANALYSIS FROM AG ECONOMISTS IN ILLINOIS SAY IF YOU DO THE MATH, BEANS PENCIL OUT MUCH BETTER THAN CORN.
ACREAGE SWITCH:
DOWN IN THE SOUTHERN PLAINS, ANALYSTS SAY THEY'RE ANTICIPATING MORE WHEAT ACRES. ACCORDING TO A BLOOMBERG SURVEY--WHEAT ACREAGE IS EXPECTED TO INCREASE NEARLY 3 PERCENT. IN KANSAS, THE NATIONS LARGEST WHEAT PRODUCING STATE, ACRES COULD HIT A 17 YEAR HIGH ACCORDING TO FOLKS AT QUINTER BASED UNITED PLAINS AG COOPERATIVE. SOME ESTIMATES PUT CURRENT WHEAT PRICES ABOUT A DOLLAR ABOVE BREAKEVEN.
AGCO SALES:
DOWN IN THE SOUTHERN PLAINS, ANALYSTS SAY THEY'RE ANTICIPATING MORE WHEAT ACRES. ACCORDING TO A BLOOMBERG SURVEY--WHEAT ACREAGE IS EXPECTED TO INCREASE NEARLY 3 PERCENT. IN KANSAS, THE NATIONS LARGEST WHEAT PRODUCING STATE, ACRES COULD HIT A 17 YEAR HIGH ACCORDING TO FOLKS AT QUINTER BASED UNITED PLAINS AG COOPERATIVE. SOME ESTIMATES PUT CURRENT WHEAT PRICES ABOUT A DOLLAR ABOVE BREAKEVEN.
DUPONT EARNINGS:
PIONEER PARENT DUPONT ALSO POSTING THIRD QUARTER EARNINGS…DUPONT SALES FELL 3 PERCENT YEAR OVER YEAR...COMING IN AT 7 AND A HALF BILLION DOLLARS. IN ITS AG BUSINESS...DUPONT SAYS IT WAS ABLE TO COVER SOME LOSSES WITH BELT TIGHTENING AND COST CUTTING.
ANALYSIS INTRO:
AS WE CONTINUE OUR LOOK AT GRAIN MARKETS, CAN A FARMER MAKE MONEY WITH SOFT RED WHEAT? FARM DIRECTOR AL PELL IS HERE TO ANALYZE, AL.
BTR COOL APPEAL:
MEANWHILE VILSACK ALSO SAYING THE U.S. IS LIKELY TO HOLD OFF ON ITS APPEAL OF THE COUNTRY OF ORIGIN LABELING RULING FROM WTO. THE SECRETARY SAYS THE U.S. TRADE REPRESENTATIVES OFFICE IS CONSIDERING AN APPEAL BUT HAS BEEN ASKED BY WTO TO HOLD OFF ON MAKING A FORMAL REQUEST. THE WTO SAYS IT'S SO SWAMPED ITS NOT ABLE TO PROCESS ANY NEW APPEALS THIS YEAR.

 

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