AgDay Daily Recap -Sept. 6, 2016

September 6, 2016 02:57 AM
 

TODAY ON AGDAY
SEPTEMBER 6, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY -NEW CHALLENGES FACING AG EXPORTS. PLUS CHEESE PRODUCTION REMAINS HIGH IN JULY. IN AGRIBUSINESS...LOOKING FOR LIFT IN WHEAT MARKETS. MACHINERY PETE CHECKS IN ON FORAGE EQUIPMENT AUCTIONS. AND FINDING A WAY TO FARM THESE FEATURE FILM FISH.
HAN-JIN SHIPPING COMPANY FILES FOR BANKRUPTCY:
GOOD MORNING I'M CLINTON GRIFFITHS. U-S AGRICULTURE IS CLOSELY MONITORING AG EXPORTS AFTER ONE OF THE WORLD'S LARGEST SHIPPING COMPANIES FILES FOR BANKRUPTCY. SOUTH KOREA-BASED HAN-JIN SHIPPING LINES FILED FOR BANKRUPTCY PROTECTION ON WEDNESDAY. IT'S THE SEVENTH LARGEST CARRIER IN THE WORLD. IT HAULS A PORTION OF U-S GRAINS, FROZEN MEAT AND DRIED DISTILLER GRAINS TO PORTS AROUND THE GLOBE. SOME U-S PORTS HAVE BLOCKED HAN-JIN SHIPS FROM ENTERING, FEARING THE PORTS MAY NOT GET PAID. U-S MEAT EXPORT FEDERATION SPOKESMAN JOE SHEELY SAYS IT'S TOO EARLY TO TELL HOW THIS MIGHT IMPACT MEAT EXPORTS, BUT HE SAYS THE ISSUE IS "DEFINITELY ATOP OF EVERYONE'S MIND". HE SAYS CUSTOMERS WERE AWARE OF HAN-JINS FINANCIAL TROUBLES SO THEY HAD STARTED TO SHIFT AWAY FROM USING THE CARRIER. HOWEVER HAN-JIN IS PART OF A SHIPPING ALLIANCE WITH FIVE OTHER COMPANIES. SO AG PRODUCTS COULD POTENTIALLY END-UP IN A HAN-JIN CONTAINER OR SHIP.
OBAMA’S TRIP TO ASIA:
ON THE PRESIDENT'S UPCOMING TRIP TO ASIA, MISTER OBAMA IS EXPECTED TO LAY-OUT HIS PATH TO FINISH THE TRANS PACIFIC PARTNERSHIP BEFORE THE END OF HIS TERM. THAT, DESPITE A WARNING LAST WEEK FROM SENATE MAJORITY LEADER MITCH MCCONNELL THAT T-P-P WILL NOT GET FINISHED THIS YEAR. T-P-P ISN'T THE ONLY TRADE DEAL IN JEOPARDY.
T-TIP IN JEPORADY:
GERMANY'S ECONOMIC MINISTER SAYS T-TIP TALKS BETWEEN THE EUROPEAN UNION AND UNITED STATES HAVE "DE FACTO FAILED". THE E-U IS DOWNPLAYING THOSE COMMENTS. A SPOKESPERSON FOR THE EUROPEAN COMMISSION TELLING REUTERS, THOSE STATEMENTS ARE NOT TRUE AND QUOTE, "THE BALL IS STILL ROLLING".  THE GERMAN MINISTER'S COMMENTS COME AFTER THREE YEARS OF NEGOTIATIONS FAILED TO RESOLVE MULTIPLE DIFFERENCES--INCLUDING ONES OVER FOOD AND ENVIRONMENTAL SAFETY.
THE FUTURE OF FRUIT GROWING WITH BREXIT:
EU TRADE MINISTERS ARE EXPECTED TO DISCUSS THE TRADE AGREEMENT DURING A MEETING THIS MONTH. LIKE THE UNITED STATES, BRITISH FRUIT GROWERS RELY ON SEASONAL, MIGRANT, WORKERS FROM OTHER COUNTRIES TO HAND-PICK THEIR CROPS. ACCORDING TO BRITAIN'S OFFICE OF NATIONAL STATISTICS, 80-PERCENT OF SEASONAL WORKERS COME FROM OTHER E-U COUNTRIES. BUT AFTER THE COUNTRY VOTED TO LEAVE THE E-U -THE SO-CALLED BREXIT VOTE -IT RAISES DOUBT AS TO WHETHER FARMERS CAN FIND ADEQUATE NUMBERS OF MIGRANT WORKERS IN THE ANTI-MIGRANT ATMOSPHERE. BETSY JIBBEN HAS OUR STORY. AS FRESH FRUIT HANGS FROM THE VINE, PICKERS ARE WORKING AGAINST TIME TO GET THE PERISHABLE CROP TO MARKET.
FUEL AT LOWEST PRICES SINCE 2004:
IF YOU HIT THE ROAD OVER THE HOLIDAY YOU LIKELY ENJOYED THE PRICE AT THE PUMP. THE ENERGY INFORMATION ADMINISTRATION PRICES AT THE START OF LAST WEEK WERE THE LOWEST SINCE 2004. THE U.S. AVERAGE RETAIL PRICE FOR REGULAR GASOLINE WAS $2.24/GALLON AS OF AUGUST 29. THAT'S MORE THAN A QUARTER PER GALLON LOWER THAN THE SAME TIME LAST YEAR. LOWER CRUDE OIL PRICES ARE THE MAIN FACTOR BEHIND FALLING U.S. GASOLINE PRICES. LOWER CRUDE OIL PRICES REFLECT CONTINUED HIGH GLOBAL CRUDE OIL AND PETROLEUM PRODUCT INVENTORIES AND INCREASED DRILLING ACTIVITY IN THE UNITED STATES. ANALYSTS TELLING US THEY EXPECT.... I DON'T THINK THAT MARKETS ARE GOING U.S. PRODUCTION TO PICK UP.
DIESEL FUEL EXPERIENCES SLIGHT RISE IN PRICE:
WHILE GASOLINE IS LOWER THAN A YEAR AGO, DIESEL FUEL HAS RISEN ABOUT A DIME NATIONALLY OVER THE PAST COUPLE OF WEEKS. HOWEVER IT'S STILL A DOLLAR 20 LOWER THAN THE FIVE YEAR AVERAGE. TWO U.S. SENATORS SAY CANADA'S DAIRY PRICING POLICIES ARE HARMING TRADE AND WILL NEGATIVELY AFFECT THE U.S. DAIRY INDUSTRY. SENATE DEMOCRATS CHUCK SCHUMER OF NEW YORK AND TAMMY BALDWIN OF WISCONSIN ARE ASKING FOR THE INVESTIGATION REGARDING CANADA'S RECENTLY ANNOUNCED NATIONAL INGREDIENTS STRATEGY AND ITS ALREADY ACTIVE ONTARIO CLASS SIX PRICING PROGRAM. THEY SAY CANADA IS PUNISHING PROCESSORS THERE FOR THE USE OF IMPORTED DAIRY PRODUCTS. THE U.S. DAIRY EXPORT COUNCIL IT "DEEPLY PROBLEMATIC" AND CARRIES ON A TRACK RECORD OF INSTITUTING PROGRAMS TO "INTENTIONALLY CREATE ROADBLOCKS TO DAIRY IMPORTS."
USDA TO BUY CHEESE TO HELP COUNTER OVERSUPPLY:
THE DAIRY INDUSTRY WELCOMED THE CALL FOR AN INVESTIGATION. THE NATIONAL AG STATISTICS SERVICE SAYS FOR THE FIFTH TIME THIS YEAR, U.S. CHEESEMAKERS PUSHED OUT MORE THAN A BILLION POUNDS OF CHEESE IN JUST A SINGLE MONTH. TOTAL CHEESE PRODUCTION IN JULY CLIMBING PAST THE ONE BILLION POUND MARK. WITH STOCKS AT A 30 YEAR HIGH, USDA RECENTLY ANNOUNCED PLANS TO BUY 20-MILLION DOLLARS WORTH OF CHEESE. THAT'S ONLY A FRACTION OF THE $150 MILLION DOLLARS REQUESTED TO USDA BY THE NATIONAL MILK PRODUCERS FEDERATION. SOME DAIRY PRODUCERS AREN'T SURE HOW MUCH THE PURCHASE WILL ULTIMATELY HELP.
CROP COMMENTS:
NOW LET'S CHECK IN WITH DAVID HARKER WITH ANOTHER UPDATE FROM THE FIELD. DAVID. GOOD MORNING, CLINTON. LET'S HEAD SOUTH TO TEXAS. A VIEWER SENT IN A PHOTO OF A WEST TEXAS SUNSET OVER COTTON. HE SAYS THE AREA IS VERY WET. HE NEEDS HEAT UNITS TO FINISH OUT THE CROP. USDA IS RELEASING AN UPDATED CROP PROGRESS REPORT THIS AFTERNOON. AND NOW HERE ARE SOME HOMETOWN TEMPS.
TEASE:
WHEN WE COME BACK WE'LL LOOK AT WHEAT PRICES AND WHERE MARKETS MAY BE HEADED WITH ANGIE SETZER OF CITIZENS GRAIN. AND LATER, MACHINERY PETE STAY TUNED FOLKS COMING UP I'LL TELL YOU ABOUT A RECORD HIGH AUCTION SALE PRICE ON A BALE STACKER.AND WE'LL MEET SOME RESEARCHERS BRINGING A POPULAR CHILDREN'S MOVIE TO LIFE.
AGRIBUSINESS:
IN AGRIBUSINESS TODAY, MARKETS WERE CLOSED MONDAY DUE TO THE LABOR DAY HOLIDAY. AT THE CLOSE FRIDAY, WHEAT PRICES CONTINUED TO HANG AROUND 10 YEAR LOWS. TYNE MORGAN JOINS US FROM THE ROAD THIS MORNING WITH A CLOSER LOOK AND TODAY'S ANALYSIS. TYNE. "HERE NOW WITH ANGIE SETZER OF CITIZEN'S GRAIN. ANGIE THESE WHEAT PRICES ARE NOT A PRETTY PICTURE RIGHT NOW. WHEN WE LOOK AT A COUPLE WEEKS AGO WE PUT IN A TEN YEAR LOW IN WHEAT. WHATS IT GOING TO TAKE TO GET THESE PRICES TO MOVE HIGHER. BUYERS TO COME IN. IT'S REALLY A MONEY FLOW MARKET AND NOW WE HAVE TO START...WE ALREADY KNOW THAT WE HAVE A LOT OF WHEAT ON HAND. AND WE ALREADY KNOW THAT WE PRODUCED A MASSIVE AMOUNT A YEAR AGO SO THAT STORY JUST NEEDS TO PLAY OUT. NOW WE NEED TO START FOCUSING ON WHAT'S GOING TO HAPPEN FOR NEXT YEAR. THERE'S ALREADY DISCUSSIONS OF CROP SHORTAGES POSSIBLE IN THE EUROPEAN UNION FRANCE GERMANY POLAND. ALL IN AREAS LIKE THAT EVERYONE KEEPS SAYING THE RUSSIA UKRAINE WHEAT CROP IS GOING TO MAKE UP FOR IT WHEN IT COMES DOWN TO IT I THINK THERE COULD BE SOME ISSUES THERE WITH SOME GEOPOLITICAL TENSION AND THINGS LIKE THAT SO THAT COULD START TO PAY PLAY A ROLE INTO IT AND THEN OF COURSE THE MILLION DOLLAR QUESTION IS ARE WE GOING TO SEE GUYS PLANT AND WE THIS YEAR AND I THINK WHEN IT COMES DOWN TO IT YOU'RE GOING TO SEE A LOT OF DISCUSSION ABOUT WHEAT ACRES DROPPING UM AND THAT COULD BE ENOUGH TO GET THESE FUNDS BACK IN. ALRIGHT ANGIE SETZER TALKING WHEAT HERE ON AGDAY. STAY WITH US WE HAVE MORE WHEN WE COME BACK
NATIONAL WEATHER:
WELCOME BACK TO DAVID HARKER FILLING IN FOR MIKE HOFFMAN TODAY. DAVID, AS WE LOOK AT WHAT TO EXPECT FOR TEMPS THIS WEE, LOOKS LIKE SOME COOLER PLACES BUT ALSO WARM. YEAH BIG RIDGE OF HIGH PRESSURE IS BUILDING OUT TO THE EAST AND AS YOU NOTICE ON THE SCREEN BIG TROUGH BUILDING OUT TO THE WEST LET'S GO AHEAD TAKE A LOOK AT THIS.TAKE A LOOK AT THE ABOVE NORMAL CONDITIONS OUT IN THE CENTRAL PLAINS STATES AS WELL AS DOWN TO THE SOUTH TOWARD TEXAS AND THE MOUNTAINS. BOY IS IT GOING TO GET NICE AND TOASTY AS A BIG RIDGE OF HIGH PRESSURE BUILDS IN OUT IN THE ROCKIES. NOW TOWARD THE PACIFIC NORTHWEST BELOW NORMAL CONDITIONS BECAUSE WE GOT A TROUGH BUILDING IN A PLACE HIGH IN THE ATMOSPHERE. THAT'S GOING TO ALLOW MORE PRECIPITATION TO ROLL INTO IN FACT OVER THE NEXT SIX TO TEN DAYS YOU'LL NOTICE THE ABOVE NORMAL PRECIPITATION WHETHER IT'S THE UPPER PLAINS STATES OUT TOWARD THE GREAT LAKES REGION.
REGIONAL WEATHER:
LET'S TAKE A LOOK AT THE TEMPERATURES AND CONDITIONS ACROSS ALL OF THE UNITED STATES. TAKE A LOOK AT GREYBULL, WYOMING, WE HAVE SHOWERS AND THUNDERSTORMS EXPECTED. THE HIGH TEMPERATURE IS 70. THE LOW IS 50. MOVE TO CLAREMORE OKLAHOMA, THE HIGH TEMPERATURE IS BACK IN THE 90S WITH SUNSHINE AND UP IN NEW YORK, BUT IN THE 70S.
TEASE:
WHEN WE COME BACK, MACHINERY PETE IS HERE WITH LOOK AT RECENT AUCTION PRICES FOR FORAGE TOOLS. AND LATER, FISHING FOR DORY. THESE RESEARCHERS ARE HELPING THIS FAMILIAR FISH HAVE A REAL LIFE OUTSIDE OF THE OCEAN.
MACHINERY PETE:
 MACHINERY PETE GETTING BUMPED FROM HIS REGULAR MONDAY SLOT AGAIN THIS WEEK. BUT HE STILL MADE TIME TO SHARE HIS LATEST AUCTION PRICE INSIGHTS. AND TODAY HE'S CHECKING IN ON FORAGE TOOLS. GREG.
OVER THE LAST COUPLE YEARS FOLKS I'VE TALKED A LOT ABOUT HOW SMALLER EQUIPMENT IN A VERY GOOD CONDITION IS REALLY HELD ITS VALUE WELL AND IS IN EXTREMELY HIGH DEMAND FROM BUYERS ALL ACROSS THE COUNTRY NOW HAY AND FORGE EQUIPMENT IS THE PERFECT EXAMPLE AND ON A RECENT FARM AUCTION NORTHWEST WISCONSIN ON AUGUST TWENTY SECOND I SAW TWO EXAMPLES THAT REALLY HIGHLIGHT THIS TREND.
TEASE:
WHEN WE COME BACK, FINDING WAYS TO FARM A POPULAR FICKLE FISH THANKS TO RESEARCHERS IN FLORIDA.
IN THE COUNTRY:
FARMING COMES IN ALL SHAPES AND SIZES. IN FLORIDA, THE AQUACULTURE INDUSTRY IS WORKING TO BRING THE BIG SCREEN TO HOME FISH TANKS. THE BLUE TANG FISH FEATURED IN THE "FINDING DORY" AND "FINDING NEMO" MOVIES HAS BECOME SO POPULAR, SCIENTISTS ARE LOOKING FOR BETTER WAYS TO BREED THEM. AND AFTER SIX YEARS OF STUDY, THE RESEARCHERS SAY THEY HAVE FIGURED OUT HOW TO GROW THE FISH IN CAPTIVITY FOR THE FIRST TIME. IT COMES DOWN TO FINDING A BETTER WAY TO FEED THEM, WHICH WILL ALLOW BLUE TANGS TO BE GROWN ON FARMS IN FLORIDA. THE BLUE TANGS WILL ONLY EAT ZOOPLANKTON, THE NATURAL FOOD THAT'S FLOATING AROUND IN THE OCEAN. THOSE ARE CALLED COLPOPODS. WE GROW A SPECIES OF COLPOPOD HERE THAT WE FEED TO THE TANGS, BUT THOSE COLPOPODS WILL ONLY EAT LIVE MICRO ALGAE. SO WE ESSENTIALLY HAVE TO GROW LIVE ALGAE THEN COLOPOPODS. "
CLOSING:
FROM ALL OF US HERE AT AGDAY, I'M CLINTON GRIFFITHS. HAVE A GREAT DAY.

PROMO:
I'M CLINTON GRIFFITHS. WEDNESDAY ON AGDAY AS CROPS HEAD INTO THE HOMESTRETCH, WE'LL CHECK ON THEIR CONDITIONS. AND MEET A CALIFORNIA DAIRY PRODUCER ON A PATH TO PROFITABILITY THROUGH DIVERSIFICATION. WATCH US WEEKDAYS HERE ON AGDAY.

 

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