AgDay Daily Recap - July 13, 2018

July 13, 2018 02:57 AM
 
AgDay

TODAY ON AGDAY
JULY 13, 2018

HEADLINES

THE LATEST USDA REPORT FACTORS IN A TRADE WAR. PLUS, HAY HARVEST IN THE NORTHERN PLAINS. IN AGRIBUSINESS..TECHNICAL INDICATORS TARIFF IMPACTS ON CATTLE MARKETS. AND EMBRACE THE MUCK--A MUDDY FRIDAY FARM SENSE AGDAY - BROUGHT TO YOU BY THE CHEVY SILVERADO, THE MOST DEPENDABLE, LONGEST-LASTING FULL  SIZE PICKUPS ON THE ROAD. 

WASDE RESULTS
GOOD MORNING I'M CLINTON GRIFFITHS.  USDA RELEASING ITS FIRST MAJOR  GRAIN REPORT FACTORING IN THE CURRENT TRADE TENSION BETWEEN THE U-S  AND SOME OF ITS BIGGEST TRADING PARTNERS. ACCORDING TO BLOOMBERG NEWS CHINA'S IMPORTS OF U-S SOYBEANS ARE  DECLINING FOR THE FIRST TIME IN 15 YEARS. USDA'S WASDE REPORT SHOWS CHINA WILL BRING IN 95 MILLION METRIC TONS OF SOYBEANS IN THE 2018-2019 SEASON. THAT'S DOWN FROM THE USDA'S JUNE FORECAST FOR 103 MILLION TONS. THAT'S  ABOUT A TWO PERCENT DROP. WITH CHINA IMPOSING RETALIATORY TARIFFS ON U-S SOYBEANS, EXPORTS  DECLINED BY 250-MILLION BUSHELS. BUT WITH LOWER SOY PRICES, USDA SAYS OTHER COUNTRIES MADE SOME  ADDITIONAL BEAN PURCHASES. NEW-CROP ENDING STOCKS FOR U-S SOYBEANS JUMPING TO 580 MILLION BUSHELS FROM 385 MILLION IN JUNE. NEW-CROP CORN ENDING STOCKS COME IN AT ONE-POINT-FIVE BILLION  BUSHELS. USDA SAYS THIS NEW REPORT ONLY CONSIDERED TRADE ACTIONS WHICH ARE  ALREADY IN PLACE OR  HAVE BEEN FORMALLY ANNOUNCED WITH AN EFFECTIVE DATE, BUT NOT YET  ENACTED. PROFARMER EDITOR BRIAN GRETE SIFTS THROUGH THE NUMBERS. "SOYBEANS ARE THE ONLY COMMODITY THAT USDA ADDRESSED RELATIVE TO THE CHINESE TARIFFS. IT  HAD A BIG IMPACT IN THAT YEAR OVER YEAR U.S. ENDING STOCKS ARE NOW PROJECTED MUCH HIGHER WHERE THEY WERE PROJECTED LOWER LAST MONTH AND THEN GLOBALLY AS WELL. YEAR OVER YEAR WE'RE  NOW ANTICIPATED TO SEE AN INCREASE IN ENDING STOCKS THERE. SO SIGNIFICANT CHANGES ON THE  SOYBEAN SIDE OF THINGS. BUT YET THE SOYBEAN MARKET ABSORBED IT. AND WHILE IT FACED INITIAL PRESSURE AFTER THE REPORTS FINISHED A LITTLE BIT HIGHER ON THURSDAY. "USDA BOOSTING CORN PRODUCTION BY 190-MILLION BUSHELS FROM THE JUNE  ACREAGE REPORT ESTIMATE. TOTAL PRODUCTION NOW SITTING AT 14-POINT- TWO BILLION BUSHELS. CORN YIELD IS UNCHANGED AT 174-BUSHELS AN ACRE. SOYBEAN PRODUCTION ALSO BOOSTED, NOW SITTING AT FOUR-POINT-THREE  BILLION BUSHELS. ECONOMISTS RAISED HARVESTED ACREAGE ESTIMATES. YIELD  REMAINS AT 48-AND-A-HALF BUSHELS AN ACRE. MARKETS ALSO REACTING TO THE REPORTS. JOE VACLAVIK OF STANDARD GRAIN  GIVES US HIS INSIGHT."AND I THINK THAT A LOT OF TRADERS AND ANALYSTS HAVE ISSUES ALREADY WITH THE LEGITIMACY OF THE NUMBERS. IT'S VERY DIFFICULT TO SAY WHAT EXACTLY IS GOING TO HAPPEN WITH THIS TRADE WAR. IT'S VERY DIFFICULT TO IMAGINE WHERE CHINA IS GOING TO GET BEANS COME THIS FALL WHEN BRAZIL RUNS OUT OF EXPORTABLE SUPPLIES. BUT NEVERTHELESS USDA REDUCING ITS DEMAND PROJECTION FOR SOYBEANS DRASTICALLY TODAY. AND THIS IS ALL DESPITE THE FACT THAT EXPORT SALES AND COMMITMENTS HAVE BEEN VERY VERY STRONG AND ARE ACTUALLY RUNNING AHEAD OF WHERE THEY WERE A YEAR AGO. YET THE PROJECTION FOR NEW CROP DEMAND NOW BELOW WHERE IT WAS A YEAR AGO."THE AG DEPARTMENT TRIMMED WINTER WHEAT PRODUCTION FROM LAST  MONTH'S ESTIMATE NOW SITTING AT ONE-POINT-TWO BILLION BUSHELS.  THAT'S A  CUT OF LESS THAN ONE PERCENT.  BUT IT'S SIX PERCENT LOWER THAN LAST  YEAR. THE NATIONAL AVERAGE YIELD FOR WINTER WHEAT IS 48 BUSHELS TO THE ACRE,  DOWN A HALF BUSHEL. "WHAT A DIFFERENCE A YEAR MAKES." IT'S CLICHE. BUT IT'S TRUE. 

NORTH DAKOTA PRECIPITATION
WHEN LOOKING AT MOISTURE CONDITIONS IN NORTH DAKOTA. THIS IS THE MOST CURRENT DROUGHT MONITOR MAP - SHOWING 80-PERCENT OF NORTH DAKOTA IS DROUGHT FREE. COMPARE THAT TO LAST YEAR WHEN 94-PERCENT OF THE STATE HAD VARYING  DEGREES OF DROUGHT, INCLUDING A THIRD OF THE STATE IN EXTREME  DROUGHT. THIS YEAR NORTH DAKOTA FARMERS ARE BALING A BUMPER CROP OF FEED DUE  TO NORMAL AND ABOVE NORMAL PRECIPTATION. CLIFF NAYLOR REPORTS FROM GRANT COUNTY. "YOU LOOK AROUND AND IT'S GREEN, EVERYWHERE YOU  LOOKED LAST YEAR IT WAS JUST SO BROWN." TIMBERE ZENKER IS AMAZED BY WHAT'S GOING THROUGH THE BALER. TIMBERE ZENKER: "THE ALFALFA IS BEAUTIFUL, HAVEN'T SEEN SUCH NICE ALFALFA IN A LOT OF YEARS, MIXED HAY IS RUNNING REALLY NICE, TOO, ABOUT A BALE AND A HALF AN ACREA ON THE MIXED STUFF  AND OVER TWO ON THE STRAIGHT ALFALFA." LAST YEAR TIMBERE AND HER HUSBAND BRETT COULDN'T CUT MOST OF THEIR ALFALFA OR MIXED HAY. INSTEAD, THEY WERE FORCED TO CHOPPED CORN AND BALED OATS AND WHEAT FOR FEED TO GET THEIR  CATTLE THROUGH WINTER. MANY LIVESTOCK PRODUCERS ARE BENEFITING FROM ABUNDANT RAINS THAT TRANSFORMED THOUSANDS OF  ACRES OF PASTURE FROM EXCEPTIONAL DROUGHT CONDITIONS INTO FERTILE FIELDS OF FEED. JULIE ELLINGSON, ND STOCKMEN'S ASSOCIATION: "FEED COSTS ARE ONE OF THE MOST INPUTS THAT  LIVESTOCK PRODUCERS HAVE AND SO HAVING THE ABILITY TO MAKE SOME HAY THIS YEAR AND TO HAVE WHAT LOOKS TO BE A VERY AMPLE HAY CROP WILL MAKE A HUGE DIFFERENCE ON THE BOTTOM LINE OF  LIVESTOCK PRODUCERS HERE IN NORTH DAKOTA." ZENKER SAYS LIVESTOCK PRODUCERS FEEL THEY HAVE A SAFETY NET THIS YEAR, WITH ENOUGH OR MORE THAN ENOUGH FEED TO GET CATTLE THROUGH WINTER WITHOUT HAVING TO BUY AND TRUCK IN MILLIONS OF  TONS OF HAY. I'M  CLIFF NAYLOR REPORTING FOR AGDAY.THANKS CLIFF.  

CHINESE TARIFFS
WHILE THE PRESIDENT THREATENS TO THROW ANOTHER 200 BILLION DOLLARS IN  TARIFFS AT CHINA, FRESH TALKS ARE YET TO BE FORMALIZED. CHINA'S VICE MINISTER OF COMMERCE LABELING THE UNITED STATES A "TRADE  BULLY" THURSDAY. HE SAYS THE TARIFFS ARE ALREADY HAMPERING GLOBAL ECONOMIC GROWTH. WANG SHOUWEN TELLING REPORTERS THIS WEEK THAT QUOTE "WHEN WE HAVE  A TRADE PROBLEM, WE SHOULD TALK ABOUT IT,"  WHITEHOUSE OFFICIALS SAY THEY HAVE SPOKEN WITH CHINESE LEADERS ON MULTIPLE OCCASIONS AND THAT THE U.S. IS OPEN TO FURTHER DISCUSSIONS.  SOME TOP REPUBLICANS ARE URGING PRESIDENT TRUMP TO HOLD A FACE TO FACE MEETING WITH CHINSES PRESIDENT XI JINPING IN SEARCH OF A SOLUTION. 

EU TRADE TALKS
ACROSS THE ATLANTIC, EU OFFICIALS ARE HOPEFUL FOR FRESH TRADE TALKS.  THE EU'S CHIEF BREXIT NEGOTIATOR IS SCHEDULED TO MEET WITH U.S. TRADE  REPRESENTATIVE ROBERT LIGHTHIZER AND OTHER ADMINISTRATION OFFICIALS  THIS WEEK. SAYING THIS WEEK, THEY HOPE THE U.S. AND THE EU CAN RESUME TALKS THIS YEAR ON A BILATERAL FREE TRADE AGREEMENT. U-S TREASURY SECRETARY STEVE MNUCHIN FACED TOUGH QUESTIONS OVER  THE TRADE FIGHT FROM BOTH REPUBLICANS AND DEMOCRATS ON CAPITOL HILL. MNUCHIN'S APPEARANCE CAME AS CHINA TRIED TO STEP UP PRESSURE ON  WASHINGTON. 

SECOND ROUND OF TARIFFS?
THE WHITE HOUSE ANNOUNCED A SECOND POSSIBLE ROUND OF TARIFF HIKES  TUESDAY TARGETING A WIDER RANGE OF $200 BILLION OF GOODS. MNUCHIN TOLD A HOUSE COMMITTEE THAT, "THE PRESIDENT IS VERY FOCUSED  ON FREE AND FAIR TRADE." " I'M CURIOUS HOW THE ADMINISTRATION THINKS ABOUT THE  POSSIBILITY OF A GLOBAL RECESSION?" "AND AS I SAID, WE ARE MONITORING VERY CAREFULLY THE IMPACT OF TARIFFS AND WE WILL CONTINUE TO  DO SO AND WE ARE VERY FOCUSED ON ECONOMIC GROWTH AND LOOK FORWARD TO A WHAT HOPEFULLY  WILL BE A VERY BIG QUARTER THIS OF GDP AND FUTURE GROWTH FOR THE BALANCE OF THE YEAR AND NEXT  YEAR."MNUCHIN CALLING THE U.S. TARIFFS AS MODERATE IN SIZE AND AIMED AT LEVELING THE PLAYING FIELD FOR AMERICAN INDUSTRIES. 

EL NINO’S RETURN
THE U.S. CLIMATE PREDICTION CENTER CONTIUES TO RATCHET UP IT'S  EXPECTATIONS FOR THE RETURN OF EL NINO THIS WINTER. THE AGENCY SAYS THERE'S NOW A 70 PERCENT CHANCE WATERS WILL WARM IN  THE EQUATORIAL PACIFIC FROM DECEMBER TO FEBRUARY. EL NINOS CAN HAVE BIG IMPACTS ON GLOBAL WEATHER PATTERNS. THE THE U.S. EL NINO WINTERS TEND TO BE COOLER AND STORMIER IN THE  SOUTHERN U.S., RAINY IN CALIFORNIA AND WARMER IN THE PACIFIC NORTHWEST  AND NORTHERN ROCKY MOUNTAINS. IN BRAZIL HOWEVER, THE REGION IS MORE  PRONE TO DROUGHT.  

CROP COMMENTS
OUR OWN METEOROLOGIST MIKE HOFFMAN LOOKING AROUND FARM COUNTRY  FOR A FIELD CHECK. HE HAS TODAY'S CROP COMMENTS. GOOD MORNING CLINTON.  AS WE HEARD FROM CLIFF NAYLOR, HAY PRODUCTION IS GOING WELL IN PARTS  OF THE COUNTRY. STEVE PLOCHER SENT THIS PHOTO TO OUR FACEBOOK PAGE. HE LIVES IN HIGHLAND ILLINOIS. HE SAYS THEY'RE CUTTING THEIR FIFTH CROP OF ALFALFA AND IT IS BEAUTIFUL. AND SAM RODE SENT US THIS PHOTO OF 2 YEAR OLD OLIVIA FROM DELPHOS OHIO. SHE SAYS THE RAIN AND HEAT THE LAST COUPLE WEEKS HAS HELPED THE CORN  TO GROW TALL. AS YOU CAN SEE THE CROP IS ALREADY SILKING. SAM SAYS HER LITTLE ONE DRIVES THIS PATH STRAIGHT TO PAPA'S HOUSE. AND TAKE A LOOK AT THE WIND SPEED FORECAST NOT A LOT. AS WE START TODAY TODAY A LITTLE BIT BREEZY. PARTS OF THE PLAINS STATES HEADING THROUGH THE AFTERNOON AND WILL GET A LITTLE BREEZIER.  PARTS OF THE SOUTHWESTERN PLAINS INTO THE SOUTHWEST BEING SEEN NOT MUCH OF THE COUNTRY  SEEING A LOT OF WIND SAME IDEA TOMORROW MORNING IT AS WE HEAD THROUGH THE REST OF THE DAY  TOMORROW. IT DOES TURN A LITTLE BIT WINDIER BEHIND A PRETTY STRONG COLD FRONT IN MONTANA AND  NORTH DAKOTA. WE'LL TELL YOU WHERE THAT FRONT'S HEADED NEXT COMING UP WITH OUR FORECAST BUT  FIRST HERE IS SOME HOMETOWN. TEMPS.  

TEASE
WHEN WE COME BACK, WE'LL LOOK AT THE CHARTS FOR CLUES TO MARKET  ACTION. TECHNICAL TRADER MIKE FLOREZ JOINS US AFTER THE BREAK. AND LATER, TRADE TARIFFS AND IMPACT ON THE CATTLE INDUSTRY FROM OUR  PARTERS AT DROVERS. AGDAY - BROUGHT TO YOU BY NEW DELARO FUNGICIDE FOR CORN AND SOYBEANS. ACHIEVE  PERSONAL BEST YIELDS.

FLOOR OF THE CME
LETS TAKE A CLOSER LOOK AT HOW MARKETS REACTED TO THURSDAY'S  REPORTS. FOR THAT WE HEAD TO THE FLOOR OF THE CME IN CHICAGO YOU COULDN'T TELL BY THE NECKTIE IT WAS A USDA DAY AND WE GOT SOME GOOD GOOD NEWS IN THE  CORN MARKET SOMETHING THAT THE BULLS DESPERATELY WERE SEARCHING FOR. WE GOT A FRIENDLY CARRY  OUT NUMBER WHICH ENCOURAGE SOME NEW BUYERS TO STEP INTO THE MARKET. BUT I THINK MORE  IMPORTANTLY WAS ENCOURAGE SOME SHORT COVERING IF WE'RE ABLE TO GET SOME FOLLOW THROUGH MOMENTUM GOING INTO THE WEEKEND. I THINK THIS SETS US UP INTO A GOOD SPOT GOING INTO NEXT  WEEK'S TRADE. MOVING OVER TO THE SOYABEAN IT'S A LITTLE BIT DIFFERENT OF A STORY WE ACTUALLY SAW  A BEARISH NUMBER BUT WE SAW SOME BUYERS STEP INTO THE MARKET WHICH I THINK IS ENCOURAGING. GOING FORWARD THE FACT THAT WE COULD NOT BREAK DOWN ON A BEARISH REPORT IS  BULLISH IN OUR MIND. THIS HAS BEEN OLIVER SOUPL WITH BLUE LINE FUTURES FROM THE FLOOR OF THE  CME. 

AGRIBUSINESS
TODAY AT AGRIBUSINESS DESK OR I GUESS NOT AT THE DESK WE HAVE GOT MIKE FLOREZ OF FLROEZ TRADING HE'S GOING TO TALK ABOUT SOME OF THE TECHNICAL INDICATORS THAT HE'S WATCHING IN THE  SOYBEAN AND CORN MARKETS AND MIKE. IT'S BEEN FASCINATING TO WATCH. RIGHT. WE TALKED EARLIER  THAT I THOUGHT THAT WERE GOING TO MAKE SIGNIFICANT LOWS THIS WEEK. AND I GOT A COUPLE OF  TRADING SYSTEMS ARE DOWN THIS CHART WHICH KIND OF DEFINES IT. THERE'S TWO SYSTEMS ON HERE ONE'S A BOHLINGER BAN AND ONE OF THE TIMING CYCLES AND BOHLINGER BAND ARE THESE BLUE LINES.  AND WHENEVER A BOLINGER BAND IS TWO STANDARD DEVIATIONS AWAY FROM A 20 DAY MOVING  AVERAGE AND THEY WILL ENCOMPASS 90 TO 95 PERCENT OF ALL TRADING ACTIVITY WHEN YOU EXCEED THEM WHEN YOU GO OUTSIDE OF THE BANDS THAT'S WHERE THE TRAINING OPPORTUNITIES LIE. SO LIKE  HERE AS AN EXAMPLE MARKETS WAY ABOVE IT YOU KNOW THE MARKET'S GOING TO FALL. FALLS DOWN TO  IT DOWN HERE IT'S KIND OF THE LOW END UP NEAR THE HIGH END AND YOU SEE IT KEEPS GOING BACK  AND BACK AND BACK AND FORTH. NOW WE ARE WAY BELOW IT SIGNALING THAT WE ARE GOING TO WE'RE GOING TO GO BACK TOWARDS THE MEAN. SO THAT'S THE FIRST THING YOU LOOK AT THE SECOND THING.  THESE ARE THESE BLACK LINES THEIR TIMING CYCLES THAT I USE IN MARKETS TEND TO CHANGE THEIR  TRENDS AFTER ABOUT 45 PERIODS OF TIME PLUS OR MINUS A WEEKS OF THESE HIGHS OR 45. FROM THIS THIS HIGH THIS LOW IS 45 FROM THIS LOW THIS IS 45 FOR WHERE WE ARE RIGHT NOW THAT THE TIME IS  SIGNALING THAT WE ALSO HAVE A BOTTOM. SO WHEN YOU GET A COMBINATION OF BOTH THINGS SAY AND  A TREND IS GOING TO CHANGE OR ATTRIT THE TREND IS CHANGING. THAT'S WHEN YOU TAKE ACTION. SO WE  HAVE VERY STRONG BUY SIGNALS THIS IS A WEEKLY CHART IN WEEKLY CHARTS TEND TO GIVE YOU LONGER PERIODS OF TIME TO MOVE RIGHT THAN THE NEXT CHART. WE FLIP TO THE NEXT ONE. THIS IS A MONTHLY  SOYBEAN CHART. SAME SITUATION THE BONES ARE BAD YOU CAN SEE WHEN THEY EXCEED THEM TOO MUCH ON THE UPSIDE AND TO THE DOWNSIDE THAT IS A CHANGE OF TREND. SO YOU'VE GOT THIS IS THE  SECOND MONTH BELOW THE BONYNGE YOUR BAND ON THE MONTHLY CHART. THIS IS A REAL LONG TERM  CHART. SO YOU GOT THE WEEKLIES AND THE MONTHLY SIGNALING THE SAME THING. AND I THINK YOU'RE  GOING TO SEE A MULTI WEEK MULTIBEAM MONTH CHANGE IN TREND TO THE UPSIDE ON SOYBEANS. OKAY. ALL RIGHT IF WE FLIP OVER TO CORN SIMILAR SITUATIONS SAME THING ON CORN THIS IS A WEEKLY  CHART ON CORN AND YOUR 3 4 BARS BELOW THE BOHLINGER BAND NOW. YOU'RE ALSO RIGHT NOW 45  WEEKS FROM THIS LOW HERE. SO THERE'S A CHANGE IN TREND ALSO IN CORN. YOU'RE GOING TO EXPECT ON BOTH OF THESE MARKETS AT LEAST A 50 PERCENT CORRECTION OF THE DOWN MOVE YOU JUST CAME  THROUGH. OKAY. WELL IT IS AN INTERESTING TOOL TO USE TO BE ABLE TO TRY TO GIVE YOU SOME SORT OF  INDICATOR OF WHAT THE MARGINS ARE GOING TO DO OVER OVER THE NEXT FEW WEEKS. IT IS DYNAMIC THEY'VE PRICED IN ALL THE NEWS THAT IS AVAILABLE TO MANKIND. IT'S ALREADY IN THE PRICE ALREADY. ALL  RIGHT WELL HAVE CHANGE COMING DOWN UPSIDE I LIKE I THINK PEOPLE APPRECIATE THAT. THANKS  MIKE. THANKS FOR THE LESSON. WE'LL BE BACK WITH MORE IN JUST A MINUTE. AGDAY - BROUGHT TO YOU BY TOP THIRD AG MARKETING.  FARMER-FIRST, WITH A PLAN FOR EVERY  MARKET. 

TEASE
UP NEXT, CATCH UP WITH THE BEEF INDUSTRY INCLUDING THE POTENTIAL  IMPACT OF CHINESE TARIFFS ON THE CATTLE INDUSTRY. AND LATER A FARM SENSE LOOK AT THE PLEASURES AND FRUSTRATIONS OF  MUD. YOUR NEXT PIECE OF EQUIPMENT IS ON MACHINERY PETE DOT COM. SEARCH EQUIPMENT FROM DEALERSHIPS ACROSS THE COUNTRY TO FIND WHAT YOU'RE LOOKING FOR. ONLY ON MACHINERY PETE DOT  COM.  

DROVERS TV
FROM OUR PARTNERS AT DROVER'S TV, THE NATIONAL CATTLEMEN'S BEEF  ASSOCIATION IS ASKING THE TRUMP ADMINISTRATION TO END RETALIATORY  TRADE TARIFFS SAYING IT MAY COST THE INDUSTRY MILLIONS OF DOLLARS AND  JOBS. NCBA'S COLIN WOODALL SAYS JUST ONE YEAR AFTER THE REOPENING OF THE  CHINESE MARKET TO U.S. BEEF THE TOTAL TARIFF ON U.S. BEEF SHIPPED TO  CHINA IS NOW 37%.  THEY SAY THAT IMMEDIATELY COST THE U.S. BEEF INDUSTRY $30 MILLION-- CLOSING ACCESS TO THAT MARKET. U.S. PRODUCERS POTENTIALLY STAND TO LOSE $70 MILLION BY YEAR'S END.  "WOODALL SAYS THE TARIFFS ARE JEOPARDIZING ACCESS TO A POTENTIAL $4 MARKET." CONCERNS OVER THE PRESIDENT'S TRADE POLICY COME AT A TIME WHEN BEEF EXPORTS HAD REACHED  NEW HIGHS. THE VALUE OF U.S. EXPORTS CLIMBED BY NEARLY 28 PERCENT IN MAY VERSUS ONE YEAR AGO, WITH INTERNATIONAL BUYERS PURCHASING MORE U.S. BEEF AND PAYING HIGHER PRICES THAN THEY  DID LAST YEAR. "HENDERSON SAYS OF COURSE THOSE EXPORTS OCCURRED BEFORE MANY OF  THE CURRENT TARIFFS AGAINST U.S. GOODS WERE IN PLACE. MEANWHILE DESPITE THOSE TARIFF CHALLENGES, CARGILL IS REPORTING IT'S  LATEST QUARTERLY PROFITS DOUBLED. LIKE HENDERSON MENTIONED, THE COMPANY ALSO POINTING TO HIGHER  DEMAND FOR BEEF...EVEN IN THE FACE OF TRADE UNCERTAINTY. THE PRIVATELY HELD COMPANY REPORTING NET INCOME OF $711 MILLION IN THE  FOURTH QUARTER ENDING MAY 31. THAT'S MORE THAN DOUBLE A YEAR EARLIER. THE FOOD AND DRUG ADMINISTRATION HOSTING PUBLIC MEETING THURSDAY ON  LAB-GROWN MEAT.  THE ALL-DAY SESSION IS MEANT TO GET INPUT ON REGULATING AN EMERGING FOOD SECTOR USING CELLS FROM ANIMALS AND GROWS THEM INTO TISSUE FOR  BURGERS, CHICKEN NUGGETS AND EVEN SPICY TUNA ROLLS. BOTH FDA AND USDA REGULATORS BELIEVE THEY HAVE JURISDICTION OVER THE  PRODUCTS.  FDA IS ASKING FOR INPUT ON WHAT SHOULD BE CONSIDERED TO ENSURE  CULTURED MEAT AND SEAFOOD PRODUCTS ARE SAFE TO EAT, INCLUDING WHAT  INGREDIENTS MIGHT BE USED AND HOW THE PROCESS WORKS.

TEASE
TO LOVE OR TO HATE THE MUD OF LIFE. FARM SENSE AFTER THE BREAK. 

IN THE COUNTRY
IN THE COUNTRY - SPONSORED BY KUBOTA. SEE THE HARDEST WORKING  TRACTORS IN AG AT KUBOTA.COM.  OR VISIT YOUR LOCAL KUBOTA DEALER  TODAY. WHEN WE WERE KIDS, OUR SUMMER DAYS WERE SPENT OFTEN TIMES IN THE BACKYARD SANDBOX, FILLING UP TRENCHES WITH WATER AND MAKING RIVERS  OF MUD. IN WAYNE COUNTY-- MUD DAY IS AN OFFICIAL EVENT. A LOCAL PARK IN WESTLAND MICHIGAN IS SOAKED AND KIDS 12 AND UNDER ARE  INVITED TO WEAR THEIR OLD CLOTHES AND ENJOY THE MUDDIEST DAY OF THE YEAR. THE KIDS ENJOY GAMES, TUG OF WAR, WHEELBARROW RACES AND EVEN  CROWN A KING AND QUEEN MUD.  THERE ARE NO SHOWERS AT THE EVENT BUT KIDS WERE HOSED OFF BY THE  LOCAL HAZMAT CREW. ITS FUNNY HOW OUR OPINION OF MUD CHANGES AS WE AGE.  AS KIDS ITS FUN, SLIPPERY AND SQUISHY. AS ADULTS --WHEN YOUR TRUCK OR TRACTOR IS STUCK-- MUD IS NOTHING BUT A  HEADACHE. SOME ADULTS HOWEVER, SWEAR BY THE HEALING POWER OF MUD. (TV SHOW: SUITS--LOUIS LITT IN MUD BATH) A MUD BATH IS BELIEVED TO HELP REDUCE ACHES AND PAINS, HELP YOU RELAX  AND REDUCE STRESS, DETOXIFY THE BODY AND BALANCE YOUR P-H LEVELS  WHILE LEAVING YOUR SKIN OH SO SOFT. I GUESS I'M NOT READY TO GET THAT DEEP INTO MUD PIT PLATITUDES, BUT  TRUTH BE TOLD, THERE ARE LESSONS HERE. THINGS LIKE, DON'T FORGET TO HAVE A LITTLE FUN, SOMETIMES LIFE IS JUST  DIRTY, FRUSTRATING -- OR SIMPLY OUT OF YOUR CONTROL.  REMEMBER WITHOUT SOIL AND WATER, FARMERS WOULD BE OUT OF BUSINESS-- SO EMBRACE THE MUD, REMEMBER THOSE FEELINGS WHEN YOU WERE A KID-- WHEN A DAY IN THE GRIT AND GRIME WAS THE BEST WAY TO SPEND AN  AFTERNOON. WHO KNOWS A LITTLE MUD MIGHT JUST SLOW YOU DOWN ENOUGH TO REALIZE A  FEW OTHER OF LIFE'S SIMPLE PLEASURES--IF YOU'LL LET IT. 

CLOSE
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.  

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