AgDay Daily Recap - February 12, 2018

February 12, 2018 12:57 AM
 
AgDay

TODAY ON AGDAY
FEBRUARY 12, 2018

HEADLINES

A BUDGET DEAL INCLUDES BIG BENEFITS FOR FARMERS. IS FAKE MEAT A REAL CONCERN FOR THE BEEF INDUSTRY? BETSY JIBBEN REPORTS. IN AGRIBUSINESS... LAST WEEK'S CRAZINESS.. MACHINERY PETE SAYS AUCTION PRICES ARE SHOCKINGLY STRONG. AND CAN BIO-FUELS CLEAN UP THE FRIENDLY SKIES. AGDAY - BROUGHT TO YOU BY THE CHEVY SILVERADO, THE MOST DEPENDABLE, LONGEST-LASTING FULL  SIZE PICKUPS ON THE ROAD..

BUDGET DEAL
GOOD MORNING I'M CLINTON GRIFFITHS. WILD VOLATILITY IN THE STOCK MARKET AND DRAMA IN WASHINGTON -- INCLUDING A SHORT GOVERNMENT SHUTDOWN-- MADE FOR A WILD END TO THE  WEEK. HOWEVER, IT DID LEAVE THE AGRICULTURAL COMPLEX WITH SEVERAL KEY  PROVISIONS. THE $400 BILLION BUDGET DEAL INCLUDES COTTON AND DAIRY PROGRAM  CHANGES. FOR COTTON IT RESTORES ELIGIBILITY IN THE TITLE I-- ARC/PLC PROGRAMS OF  THE FARM BILL.  ON THE DAIRY SIDE, IT ELIMINATES THE $20 MILLION CAP ON THE LIVESTOCK  GROSS MARGIN PROGRAM AND MAKES CHANGES TO THE MARGIN PROTECTION  PROGRAM. THE FIXES HELP PAVE THE WAY FOR FINAL ADJUSTMENTS TO THE SAFETY NETS  IN THE NEXT FARM BILL...BOOST THE LONG-TERM SPENDING BASELINE AND  GIVING LAWMAKERS A BIGGER BUDGET TO WORK WITH.  DISASTER AID IS ALSO INCLUDED IN THE FINAL DEAL.  THE SPENDING AGREEMENT SETS ASIDE NEARLY $90 BILLION IN DISASTER RELIEF  TO HELP COMMUNITIES DESTROYED BY WILDFIRES AND HURRICANES. SOME $2.3 BILLION IS SET ASIDE FOR AGRICULTURAL ASSISTANCE, MUCH OF IT  EXPECTED TO HELP RESCUE FLORIDA'S BATTERED CITRUS INDUSTRY.  THE BUDGET DEAL ALSO ELIMINATES THE $125-THOUSAND DOLLAR PER- PRODUCER PAYMENT CAP IN THE LIVESTOCK INDEMNITY PROGRAM OR LIP. THAT'S EXPECTED TO HELP RANCHERS IMPACTED BY WILDFIRE LAST YEAR. "AS A RESULT OF THE PASSAGE OF  THIS LEGISLATION, MANY OF THOSE RANCHERS IMPACTED IN  SOUTHWEST KANSAS, ESPECIALLY THOSE WHO SUFFERED THE GREATEST LOSSES, WILL RECEIVE MUCH  NEEDED ADDITIONAL ASSISTANCE SO THAT THEY WILL CONTINUE THEIR EFFORTS TO REBUILD."ON THE BIOFUELS FRONT, THE BILL RETROACTIVELY EXTENDS THE LAPSED  BIODIESEL TAX INCENTIVE PROGRAM-- BUT ITS ONLY FOR 2017.  IOWA SENATOR CHUCK GRASSLEY SAYS THE ONE-YEAR EXTENSION QUOTE "IS  CONTRARY TO THE PROMISE I GOT FROM BOTH THE LEADERSHIP OF THE SENATE  AND THE HOUSE."

JUSTIN TRUDEAU IN THE U.S.
CANADIAN PRIME MINISTER JUSTIN TRUDEAU SPENT SEVERAL DAYS IN THE U-S LAST WEEK, PITCHING CANADA AS A DESTINATION FOR AMERICAN TECH FIRMS. TRUDEAU SAYS PRESIDENT TRUMP'S STANCE ON IMMIGRATION PROVIDES A CLEAR OPENING FOR CANADA TO PITCH ITSELF TO SILICON VALLEY. CANADA IS OFFERING A TWO-WEEK FAST-TRACK EMPLOYMENT PERMIT FOR CERTAIN WORKERS, DUBBED THE "GLOBAL SKILLS STRATEGY VISA." TRUDEAU SAYS AN UN-KNOWN NUMBER OF CANADIANS WORKERS IN CALIFORNIA'S TECH INDUSTRY THANKS TO VISAS MADE POSSIBLE THROUGH NAFTA. "WE HAVE INDICATED CLEARLY THAT WE WILL BE NEGOTIATING IN CANADA'S BEST INTEREST BUT WE ALSO WANT TO MAKE SURE THAT THE DEAL WE GET TO IS A WIN, WIN, WIN. WE KNOW THAT THERE'S A PATH FORWARD THAT IS GOING TO BE BENEFICIAL TO AMERICANS, TO AMERICAN JOBS, TO CANADA, TO CANADIAN JOBS AND TO THE MEXICAN ECONOMY AS WELL. THAT'S WHAT WE'RE DILIGENTLY FOCUSING ON. WE WILL NOT ACCEPT A BAD DEAL BUT WE KNOW THAT THERE'S A GOOD DEAL TO BE HAD AND WE WILL KEEP WORKING ON IT." TRUDEAU'S TRIP STARTED IN CHICAGO AND ENDED IN LOS ANGELES.  HE ALSO MET WITH CEO'S FROM GOOGLE AND AMAZON.

BEYOND BURGER
THE NATIONAL CATTLEMEN'S BEEF ASSOCIATION RECENTLY ROLLED OUT ITS 2018  POLICY PRIORITIES. FOR THE FIRST TIME, THE ASSOCIATION ADDED 'FAKE MEAT' TO THE AGENDA. THE ASSOCIATION WATCHING AS PLANT BASED PROTEINS AND MEATLESS  BURGERS GROW IN POPULARITY. IS IT A THREAT TO THE INDUSTRY OR A SIGN OF THE TIMES? BETSY JIBBEN REPORTS. STEP INSIDE BURGER FI IN TEMPE, ARIZONA A FOOD CHAIN SPECIALIZING IN BURGERS. FROM TRADITIONAL  TO SPECIALTY  TO VEGGIE  AND EVERYTHING INBETWEEN.  "WE ARE IN THE PREMIUM BURGER MARKET SO EVEN THOUGH WE EXECUTIVE IN A QUICK PACE, WE TRY  TO SERVE A HIGHER-BURGER,"YET, THERE'S A NEW PLANT-PROTEIN 'PROTEIN' ON THE MENU CALLED BEYOND  BURGER - A MEAT SUBSTITUTE DESIGNED TO LOOK FEEL SMELL AND IMPERSONATE THE TRADITIONAL STAPLE. "WE ALWAYS SEE NEW TRENDS COMING AROUND BUT A LOT OF THEM ARE GIMMICKY, A FLASH IN THE  PAN,""THIS IS REALLY SUSTAINING ITSELF AND IN FACT, IT'S CONTINUING TO GROW FROM WEEK TO WEEK. I'M  NEVER SEEN A PRODUCT LAUNCH BE SO SUCCESSFUL RIGHT OUT OF THE GATE,"THE BURGER CONCEPT GAINING ATTENTION ON TV - THE BEYOND BURGER - CREATED BY BEYOND MEAT- IS SELLING IN OVER 5- THOUSAND GROCERY STORES NATION-WIDE  COMPANIES ARE PAYING ATTENTION. MAJOR MEAT COMPANIES LIKE TYSON FOODS ARE MAKING INVESTMENTS IN THE  PLANT-BASED PROTEIN SECTOR - TYSON FOODS AND CARGILL ALSO FUNDING  A FOOD TECH STARTUP CALLED - MEMPHIS MEATS - A 'CULTURED MEAT' PRODUCED DIRECTLY FROM ANIMAL CELLS.  "IT IS A LITTLE CONCERNING SEEING THE BIG PLAYERS INVEST THEIR CAPITAL THAT DIRECTION BUT I THINK ULTIMATELY AT THE END OF THE DAY, WE'RE GOING TO FIND THERE'S NOT REAL COMPETITION HERE.""TO ME, IT'S A LONGER TERM SITUATION AS FAR AS THAT BEING AN ISSUE WITH REAL COMPETITION FOR  BEEF, PORK AND POULTRY RIGHT NOW,"TYSON FOODS STATING - IT'S INVESTING IN ITS TRADITIONAL MEAT BUSINESS BUT EXCITED AT  BROADENING  EXPOSURE TO INNOVATIVE, NEW WAYS OF PRODUCING MEAT,  ESPECIALLY SINCE GLOBAL PROTEIN DEMAND IS INCREASING. CARGILL STATING THE POPULATION IS EXPECTED TO INCREASE TO MORE THAN 9  BILLION PEOPLE BY 2050. THE COMAPNY SAYS FOOD PRODUCTION NEEDS TO  INCRASE BY 70 PERCENT TO FEED A GROWING POPULATION. THAT'S WHY SOME ANALYSTS SAY ALTERNATIVE PROTEINS MAY BE A GOOD IDEA.  "IF WE REALLY BELIEVE THAT WE'RE GOING TO HAVE 9.5 BILLION PEOPLE TO FEED IN THE NEXT 30 YEARS,  WE BETTER BE COMING UP WITH ALL THE PROTEIN SOURCES WE CAN COME UP WITH,"> CLOSE THINKS THE TARGET MARKET ULTIMATELY WON'T BE YOUNG, UPPER  INCOME INDIVIDUALS. HE BELIEVES IT WILL CHANGE OVER TIME.  "WHERE I DO I SEE THE TARGET MARKET IS AN EMERGING MIDDLE CLASS, PERHAPS CHINA, SOUTHEAST  ASIA AND PEOPLE THAT ARE JUST LOOKING AT IMPROVING THEIR DIETS.">THE BEEF INDUSTRY IS TAKING NOTE.  ALSO TAKING A CLOSER LOOK.  - THE NATIONAL CATTLEMEN'S BEEF ASSOCIATION UNVEILING ITS 2018 POLICY  PRORITIES LAST WEEK  - ADDING 'FAKE MEAT' TO ITS POLICY AGENDA FOR THE FIRST TIME.  OTHER MAJOR MEAT ORGANIZATIONS ARE WATCHING TOO.  " WE SEE A GREAT OPPORTUNITY IN THE BEEF BUSINESS. MY FAMILY HAS BEEN IN THE BEEF BUSINESS  150 YEARS AND WE'RE NOT GETTING OUT OF IT. I DON'T THINK THE REST OF PRODUCERS ARE EITHER SO  GOOD FOR THEM. AT THE END OF HTE DAY, PEOPLE WANT TO EAT A HEALTHY BEEF PRODUCT,""IT'LL NEVER SURPASS OR OVERTAKE THE TRADITIONAL BURGER BUT I CAN SEE IT TAKING A MUCH LARGER  SECTION OF OUR PRODUCT MIX IN THE FUTURE,"JONES SAYS THE NEW BURGER CRAZE IS BRINGING IN NEW FACES TO HIS  LOCATION AND NOT NECESSARILY TAKING CUSTOMERS AWAY FROM TRADITIONAL  BEEF. "ME: SO THE TRADITIONAL CHEESEBURGER IS STILLYOUR NUMBER ONE SELLER? HIM: OH YES, NO ONE  CAN BEAT A CHEESEBURGER. IT'S JUST THE GO-TO FOR SO MANY PEOPLE,"AND TRADITIONAL BEEF IS ST ILL ON TOP.... FOR NOW.  REPORTING FOR AGDAY, I'M BETSY JIBBEN. 

CROP COMMENTS
MIKE HOFFMAN JOINS US WITH CROP COMMENTS ON THIS MONDAY MORNING.  MIKE.  GOOD MORNING, CLINTON.  LET'S START OFF IN ALEXANDRIA, INDIANA WHERE BRIAN PETTY IS TRYING TO MOVE GRAIN.  IT'S SO COLD HE HAD TO USE THE INDUSTRIAL AIR COMPRESSOR AND GRAIN  VACCUM AT THE SAME TIME FOR THE WIN!  AND RANDY UHRMADCHER FROM THE HASTINGS, NEBRASKA AREA HAS CORN  LINES HAVE BEEN BACKED UP AT THE ETHANOL PLANT.  NOT VERY NICE WEATHER TO BE OUTSIDE BUT THE AREA IS EXPECTED TO SEE A WARM-UP MID TO LATE WEEK.  AND NOW HERE ARE SOME HOMETOWN TEMPS.

TEASE
WHEN WE COME BACK WE'LL DISCUSS THE LESSONS WE LEARNED LAST WEEK  FROM THE MARKETS..AND WHAT TO DO ABOUT IT HERE MID-FEBRUARY. PLUS MACHINERY PETE IS HERE. RED HOT PRICES ON RED TRACTORS ON AN AUCTION IN OHIO LAST WEEK FOLKS. STICK AROUND. WE'LL  TALK ABOUT ONE OF THE STRONGEST SALES OF THE YEAR SO FAR. AND FIND OUT WHY MORE BIOFUELS COULD GO AIRBORNE.

BAYER SELLING VEGETABLE SEEDS BUSINESS
ON THE MERGER FRONT, NEW REPORTS THAT BAYER IS PLANNING TO SELL ITS  GLOBAL VEGETABLE SEEDS BUSINESS AND ALLOW BASF EXCLUSIVE ACCESS TO  ITS DIGITAL FARMING DATA IN A BID TO ADDRESS EU ANTITRUST WORRIES ABOUT  ITS $63.5 BILLION PURCHASE OF MONSANTO. THE GERMAN DRUG AND CROP CHEMICAL MAKER SUBMITTED ITS OFFER LAST  WEEK AFTER THE EUROPEAN COMMISSION SAID THE DEAL MAY REDUCE  COMPETITION IN PESTICIDES, SEEDS AND PLANT TRAITS SUCH AS HERBICIDE  TOLERANCE AND INSECT RESISTANCE.  BAYER ALREADY HAD A DEAL TO SELL ITS SEED AND HERBICIDE BUSINESSES TO  BASF FOR $7.2 BILLION. 

AGRIBUSINESS
HERE AT THE AGRIBUSINESS TO START THE WEEK WE HAVE ANDY SHISSLER WITH US SNW TRADING AND WE HAVE JOE VALAVIK WITH STANDARD GRAIN THANK YOU BOTH FOR BEING HERE. ALL RIGHT. LAST WEEK JUST AN ABSOLUTE TERROR OF A WEEK JUST SO BUSY WHAT DID YOU LEARN LAST WEEK SNDY I LEARNED ANYTHING COULD HAPPEN AT ANY TIME WHEN EVERYBODY'S EXPECTED TO CERTAIN THAT IT JUST DOESN'T HAPPEN IN THE STOCKS. I'M SITTING AT MY DESK IN THE AFTERNOON AND THEY'RE DOWN 1700 POINTS. I'M JUST LIKE IT'S ALWAYS SOMETHING YOU HAVEN'T SEEN BEFORE. AND IT GETS A LITTLE SCARY BECAUSE LIKE WE TRADE GRAIN POSITIONS. I'VE GOT A LOT OF STUFF ON I'M JUST LIKE HOW QUICK THIS DOES IT. I HOPE IT DOESN'T GO ON MARGIN CALL RIGHT. YOU DON'T SAY. THAT'S REALLY WHAT I'M THINKING OF THE BACK OF MY MIND. I'M LIKE YEAH I'VE SEEN THIS BEFORE AND THIS IS WHERE I GET THE HECK OUT OF EVERYTHING I'VE GOT TO SAY. WHAT ABOUT YOU JOE WOULD YOU WALK AWAY WITH. I MEAN VOLATILITY IS BACK WITH A VENGEANCE AND IT TURNED ON A DIME. I MEAN WE WENT FROM JUST THIS SLOW GRIND UP IN THE STOCK MARKET IN ULTRA LOW VOLATILITY TO JUST A MESS OF VOLATILITY AND IT'S BLEEDING INTO SOME OF THE OTHER MARKETS. I MEAN YOU LOOK AT IT TREASURIES MOVE IN MORE THAN THEY MOVE RECENTLY YOU LOOK AT THE METALS YOU GET THE ENERGY IS JUST LARGER DAILY TRADING RANGES. WE'RE STARTING TO SEE A LITTLE BIT OF IT IN THE GRAINS I MEAN WE HAD A DAY WHERE CORN WAS UP ALMOST FIVE CENTS LAST WEEK WHICH IS A LOT OF VOLATILITY AS YOU KNOW. SO THAT AND USDA TOLD US A FEW THINGS. LAST WEEK SOYBEAN EXPORTS AREN'T GOOD CORN EXPORTS ARE GOOD AND IMPROVING. SO WE'VE GOT SOME THINGS CHANGING IN THE GRAINS A LITTLE BIT YET. ANDY AS YOU LOOK AT THE WEEK AHEAD ANYTHING THAT INFORMED YOU LAST WEEK IS GOING TO CHANGE THE WAY YOU PERCEIVE THE COMMODITY MARKET. I THINK GENERALLY PEOPLE ARE REALLY APPREHENSIVE WITH THE WEATHER MODELS WITH ARGENTINA IT'S LIKE WE ARE KIND OF IN A HOLDING PATTERN FOR A COUPLE OF DAYS AND THEIR WEATHER LOOK LIKE WE MAYBE SHOULD BE RALLYING AND THEN WE WEREN'T AND THEN WE KIND OF POPPED SOME IN THERE JUST LIKE SEE WHAT THIS RAIN OF IT IS THIS WEEKEND IS LIKE SO IT'S A BUST. SOME OF THEM HAVE BEEN AND I KIND OF THINK IT'S GOING TO RAIN THIS WEEKEND THERE. I'LL JUST SAY THAT I THINK IT'S GOING TO. BUT I THINK IT IT'S GOING TO BE LIKE 60 PERCENT COVERAGE. BUT IF IT DOESN'T IT WILL MOVE UP AND BEANS AND CORN AND WE'LL HIT SOME NUMBERS THAT NEED TO BE SOLD. ALL RIGHT JOE REAL QUICK YOUR WEEK AHEAD. YEAH I MEAN WEATHER IS THE NAME OF THE GAME ESPECIALLY AS IT RELATES TO THE WHEAT MARKET TOO. AND WHAT WE'VE GOT GOING ON DOMESTICALLY YOU KNOW THE ARGENTINA THINGS ONE THING. WHAT WE'RE GOING ON GOT GOING ON IN THE U.S. PLANES IS ANOTHER THING WE DESPERATELY NEED SOME RAIN IN KANSAS OKLAHOMA NORTH TEXAS. YOU KNOW IT'S NORTHERN PLAINS AS WELL THE WESTERN PORTIONS OF THE DAKOTAS VERY VERY DRY. SO THE WHEAT MARKET IS GOING TO RELATE TO WHATEVER HAPPENS THERE. ALL RIGHT. SO A LOT TO WATCH HOPEFULLY THIS WEEK WILL BE A LITTLE BIT QUIETER. BUT BOY IT MAKES FOR SOME INTERESTING CONVERSATION. APPRECIATE YOU BOTH BEING HERE. WE'LL BE BACK MORE AGDAY IN JUST A MINUTE. ​AGDAY - BROUGHT TO YOU BY NEW DELARO FUNGICIDE FOR CORN AND SOYBEANS. ACHIEVE  PERSONAL BEST YIELDS. 

WEATHER
WELCOME BACK AGDAY METEOROLOGIST MIKE HOFFMAN HERE LOOKING AT THE JET STREAM MIKE. AND IT'S WE'RE ALWAYS WATCHING IT TO SEE WHAT THE PATTERN IS GOING TO BE AND YOU THINK MAYBE WE'RE STARTING A NEW PATTERN AT LEAST FOR A WEEK TO 10 DAYS RIGHT AT LEAST FOR A WEEK OR TWO. HERE WE'RE GOING TO SEE THESE CUT OFFS TRY TO FORM IN THE SOUTHWEST AND THAT'S GREAT NEWS FOR THE DROUGHT AREAS IN THE SOUTHERN PLAINS AND THE FOUR CORNERS REGION BECAUSE ANY TIME YOU GET THOSE LITTLE SYSTEMS KIND OF DIVING IN AND CUTTING OFF OFF THE SOUTHWEST COAST YOU NOT ONLY GET STORM SYSTEMS DEVELOPING DOWN THERE BUT YOU GET THIS FLOW OF PACIFIC MOISTURE INTO THE SOUTHWESTERN PORTIONS OF THE COUNTRY. SO THAT'S SOME GREAT NEWS THERE. ALSO WHEN YOU GET A SPLIT FLOW LIKE THIS THEN YOU END UP WITH VERY COLD TEMPERATURES IN THE NORTH. SEE HOW THAT PATTERN JUST KIND OF ROTATES THROUGH ITSELF AND YOU END UP WITH PRETTY MILD WEATHER THROUGH THE SOUTHERN TIER OF STATES AND THAT'S A BIG DIFFERENCE WHICH CAN ALSO CAUSE SOME MORE STORM SYSTEMS THAT CONTINUE TO MOVE THROUGH THESE AREAS. SO AS WE PUT THE JET STREAM IN MORE OF A MOTION HERE YOU CAN SEE THE CUTOFF KIND OF GOES AWAY AS WE HEAD TOWARD THE END OF THIS WEEK AND JUST KIND OF FLOWS INTO THE PATTERN WITH SOME MOISTURE MOVING THROUGH THE TENNESSEE VALLEY LATER IN THE WEEK AND THEN AS WE HEAD THROUGH TIME THROUGH NEXT WEEKEND AND INTO THE FOLLOWING WEEK IT APPEARS TO ME LIKE THERE MIGHT BE ANOTHER CUT OFF TRYING TO COME THE FOLLOWING WEEK INTO THE SOUTHWEST AGAIN. AND SO THIS PATTERN AT LEAST FOR A WEEK OR TWO IS KIND OF CHANGING A LITTLE BIT. WE'LL HAVE TO SEE HOW IT EVOLVES AFTER THAT FOR LATER IN FEBRUARY. BUT TEMPERATURES THIS WEEK GOING BELOW NORMAL FOR THE WESTERN GREAT LAKES NORTHERN HALF OF THE PLAINS INTO MONTANA ABOVE NORMAL MID-ATLANTIC SOUTHEAST THROUGH THE SOUTHERN MISSISSIPPI VALLEY MOST OF TEXAS FOR THE REGION. ALL OF CALIFORNIA SOUTHERN OREGON AS FAR AS PRECIPITATION FOR THIS WEEK. I'M GOING ABOVE NORMAL FOR SOUTHERN CALIFORNIA A FOUR CORNER REGION WITH THAT SYSTEM COMING IN AND THEN IT KIND OF FLOWS EAST. SO WE'LL GO ABOVE NORMAL INTO IT ONCE AGAIN THE SOUTHEAST TENNESSEE RIVER VALLEYS BELOW NORMAL IN MOST OF FLORIDA BELOW NORMAL MOST OF TEXAS AND FROM THE GREAT LAKES ALL THE WAY BACK ACROSS THE NORTHERN PLAINS INTO THE NORTHWEST BELOW NORMAL PRECIPITATION AS WELL 30 DAY OUTLOOK FOR TEMPERATURES WILL KEEP AT BELOW NORMAL FROM MISSOURI NORTHWARD THROUGH THE NORTHERN PLAINS THROUGH THE GREAT LAKES OHIO VALLEY AREA ABOVE NORMAL MID-ATLANTIC INTO FLORIDA AND ALSO ABOVE NORMAL FOR CORN REGION. MOST OF THE WEST COAST PRECIPITATION OVER THE NEXT 30 DAYS I'M GOING. IT'S A TOUGH CALL HERE SO I'M GOING NEAR NORMAL FOR MOST OF THE GROWING REGIONS ABOVE NORMAL FROM THE SOUTHERN MISSISSIPPI VALLEY INTO THE NORTHEAST BELOW NORMAL FOR SOUTH FLORIDA BELOW NORMAL SOUTHWEST AND ABOVE NORMAL IN A SMALL PART OF THE NORTHWEST. THAT'S A LOOK ACROSS THE COUNTRY. NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS FOR BAKERSFIELD CALIFORNIA TODAY PARTLY SUNNY AND PLEASANT. HIGH TEMPERATURE OF 66 DEGREES CARRINGTON NORTH DAKOTA CLOUDY CONTINUED VERY COLD. HIGH OF JUST EIGHT. AND FINALLY CHATTANOOGA TENNESSEE MOSTLY CLOUDY WITH A COUPLE OF SHOWERS HIGHER AROUND 61. ​

TEASE
MACHINERY PETE AND HIS AUCTION INFORMED WISDOM JOINS US NEXT WITH  THE LATEST TRENDS IN FARM EQUIPMENT. AND CAN BIOFUELS HELP CLEAN UP THE FRIENDLY SKIES? WE'LL LOOK AT NEW RESEARCH ON IN THE COUNTRY. AGDAY - BROUGHT TO YOU BY CORVUS - THE NUMBER ONE PRE-EMERGENCE CORN HERBICIDE.

MACHINERY PETE
MACHINERY PETE CONTINUES TO STOP AT AUCTIONS ACROSS THE COUNTRY. THIS MORNING HE SHOWS US SOME RECENT PRICE STRENGTH AT AN AUCTION IN  OHIO. IT WAS A WEEK AGO SATURDAY IN SOUTHWEST OHIO. FOLKS IT WAS A FARM ESTATE AUCTION BY MY  FRIENDS BRAD AND GLEN HESS WITH HIS AUCTION COMPANY AND THE TRACTORS ON THE SALE REALLY  STOOD OUT. NOW HERE'S A PICTURE OF THE 1976 INTERNATIONAL TEN SIXTY SIX BLACK STRIPE OPEN  STATION WITH TWENTY NINE HUNDRED SEVENTY TWO HOURS ON THE TWENTY SEVEN THOUSAND DOLLARS.  THAT'S THE SECOND HIGHEST AUCTION PRICE I'VE EVER SEEN ON IT 1066 BACK THE ONLY HIGHER PRICE  WAS ALL THE WAY BACK IN AUGUST OF 2004 ON A FARM AUCTION IN SOUTHEAST OHIO WHERE A 75  MODEL WITH 800 91 HOURS ON IT WENT FOR 31000. NOW ALSO ON THAT SALE A WEEK AGO SATURDAY  IN SOUTHWEST OHIO WAS THIS BEAUTIFUL NINETEEN NINETY NINE CASE AGE 8920 1866 HOURS ON IT  WENT FOR 70000 BUCKS AND FOLKS THAT'S THE THIRD HIGHEST AUCTION PRICE ON AN 8920 THE PAST  FORTY NINE MONTHS. NOW ONE MORE TRACTOR FROM THE SALE IN OHIO WAS THIS 2004 CASE IH MXU 125 SOLD WITH A LOADER IN 1934 HOURS ON IT AND IT WENT FOR FORTY EIGHT THOUSAND FIVE HUNDRED  DOLLARS. NOW SAME THING HERE. THAT'S THE SECOND HIGHEST AUCTION PRICE I'VE EVER SEEN AND IT  MAKES YOU 125 WITH A LOADER AND THE ONLY HIGHER PRICE WAS ONLY FIVE HUNDRED DOLLARS HIGHER.  BUT THAT WAS ALMOST 8 YEARS AGO. NOW IT WASN'T JUST THE TRACTORS ON THIS OHIO SALE WEEK AGO  SATURDAY THAT SOLD VERY WELL THIS NEW HOLLAND 355 GRINDER MIXER WENT FOR FOURTEEN THOUSAND  FIVE HUNDRED DOLLARS.  NEXT - MORE HIGH-POWERED EQUIPMENT.  AND HOW TO REDUCE THEIR  EMISSIONS IN THE AIR.

IN THE COUNTRY
IN THE COUNTRY - SPONSORED BY KUBOTA.  TRACTORS, HAY TOOLS, UTILILTY VEHICLES, MOWERS AND  MORE.  VISIT KUBOTA.COM TODAY.THE U-S MILITARY IS ALREADY TESTING NON-PETROLEUM FUELS - LIKE BIOFUELS - IN SOME OF THEIR AIRCRAFT. NOW SCIENTISTS ARE TESTING BIOFUELS TO DETERMINE IF THEY CAN CUT  EMISSIONS FROM COMMERCIAL JETS.  NASA SCIENTISTS ARE CONDUCTING TEST FLIGHTS OVER EUROPE AND THE U-S. THE THREE-WEEK EXPERIMENT AT THE RAMSTEIN AIR BASE IN GERMANY  INVOLVES A NASA-OWNED FLYING-LABORATORY. IT FOLLOWS AN AIRBUS  RESEARCH PLANE OPERATED BY THEIR GERMAN COUNTERPARTS. ONCE AIRBORNE, THE NASA PLANE SNIFFS OUT EMISSIONS PRODUCED BY  VARIOUS FUELS FROM THE LEADING PLANE. SCIENTISTS ARE COMPARING CONVENTIONAL JET FUEL WITH A BLEND OF  KEROSENE AND BIOFUEL. THEY WANT TO SEE IF THEY CAN CUT CARBON EMISSIONS FROM AIRCRAFT WHEN  THEY'RE ON THE GROUND, AS WELL AS CONTRAILS IN THE SKY. "SO WHAT WE'RE LOOKING AT IS MAYBE REDUCING TO 30 PERCENT, THE BLENDING RATE OF A  SUSTAINABLE FUEL, SO YOU STILL WORK ON YOUR CO2 EMISSIONS, WE CAN STILL REACH 50 PERCENT  REDUCTION IN SOOT EMISSIONS. SO EVEN WITH LESS OF THOSE BIOFUELS."> THE INTERNATIONAL CIVIL AVIATION ORGANISATION SET A GOAL OF REDUCING  AIRCRAFT CO-2 EMISSIONS BY 50 PERCENT BY 2050.  THESE RESEARCHERS SAY TO HIT THAT MARK, THE INDUSTRY WILL NEED TO  BURN MORE ALTERNATIVE FUELS, RENEWABLE FUELS, THAT ARE MADE FROM  BIOLOGICAL FEED STOCKS.

CLOSE
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.  FOR ALL OF US AT AGDAY I'M CLINTON GRIFFITHS. HAVE A GREAT DAY. AGDAY - BROUGHT TO YOU BY RAM COMMERCIAL - AMERICA'S LONGEST-LASTING HEAVY DUTY  PICKUPS.

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