AgDay Daily Recap - July 30, 2018

July 30, 2018 02:57 AM
 
AgDay

TODAY ON AGDAY
JULY 30, 2018

HEADLINES

A GROWING G-D-P IS FUELING THE PRESIDENT'S ECONOMIC AGENDA.  "IF ECONOMIC GROWTH CONTINUES AT THIS PACE. THE UNITED STATES  ECONOMY WILL DOUBLE IN SIZE MORE THAN 10 YEARS> BUT COULD THE TRADE WAR IMPEDE GROWTH IN THE  MONTHS AHEAD? AS FARMERS IN ILLINOIS REVEAL A BIN-BUSTING CORN  CROP.. <ACTUALLY WE WAS OUT IN THE FCORN FIELD TODAY AND I THINK IT'S GOING  TO , RIGHT NOW, IT'S AS GOOD AS IT WAS LAST YEAR.> IT'S FARMERS IN MISSOURI AND COLORADO WHOS  HOPES ARE FADING AS RAINS REMAIN ABSENT IN THEIR  FIELDS.  IN AGRIBUSINESS, JULY WEATHER FUELED THE MARKET  THIS YEAR... <THE WEATHER SCARE IS WE HAD GOOD WEATHER NOT BAD WEATHER. > EXPLORING THE UNCHARTED WATERS OF THE CORN  MARKET THIS YEAR.  AND ONE MAJOR BEER COMPANY SAYS IT'S FARMERS AND ONE CROP THAT'S THE BACKBONE OF THEIR  BUSINESS. AGDAY-BROUGHT TO YOU BY THE DEPENDABLE, LONG  LASTING CHEVY SILVERADO. 

ECONOMIC HEALTH
GOOD MORNING I'M TYNE MROGAN, IN FOR CLINTON GRIFFITHS.  NEW NUMEBRS SHOW THE ECONOMY GREW 4 POINT 1  PERCENT IN THE SECOND QUARTER.. THE FASTEST  PACE IN FOUR YEARS. BUT NOW SOME ANLYSTS QUESTION IF THE STRONG GROWTH WILL LOSE STEAM.  THE REPORT FROM THE COMMERCE DEPARTMENT OUT FRIDAY SHOWS THE NATION'S GROSS DOMESTIC  PRODUCT INCREASED AT A RATE OF 4 POITN 1 PERCENT  FROM APRIL THROUGH JUNE.  THE BOOST WAS FROM A BIG REBOUND IN SPENDING BY  AMERICANS AND A SHARP RISE IN EXPORTS. BUT SOME SAY SOME OF THAT BOOST MAY BE FROM  INCREASED EXPORTS AND BUYING INTEREST AHEAD OF  TRUMP'S TARIFFS.  THE PRESIDENT WASTING NO TIME IN TOUTING THE  NUMBERS, TALKING TO PRESS ON THE WHITE HOUSE  LAWN.  "IF ECONOMIC GROWTH CONTINUES AT THIS PACE. THE UNITED STATES  ECONOMY WILL DOUBLE IN SIZE MORE THAN 10 YEARS FASTER THAN IT  WOULD HAVE UNDER EITHER PRESIDENT BUSH OR PRESIDENT OBAMA.  PERHAPS ONE OF THE BIGGEST WINS IN THE REPORT, AND IT IS INDEED A BIG ONE, IS THAT THE TRADE DEFICIT, VERY DEAR TO MY HEART BECAUSE  WE'VE BEEN RIPPED OFF BY THE WORLD, HAS DROPPED BY MORE THAN  50 BILLION DOLLARS JOE VACLAVIK SAYS AS ANLAYSTS ANALYZE THE NUMBERS QUESTING IF THE STRONG GROWTH CAN  CONTINUE, HE SAYS THE ANSWER IS COMPLICATED.  <NOW HERE HAS BEEN SOME DISCUSSION REGARDING TARIFFS  AND THE IMPACT ON GDP. YOU KNOW SOME PEOPLE BELIEVE THAT  BECAUSE OF FORTHCOMING TARIFFS THAT SOME COUNTRIES HAVE RUSHED  TO IMPORT GOODS FROM THEU.S. AHEAD OF TARIFF IMPLEMENTATION. THERE MAY BE SOME TRUTH TO THAT BUT THERE WERE ALSO SOME  POSITIVE ASPECTS ON THE DOMESTIC FRONT. KNOW BUSINESS SPENDING  CONSUMER SPENDING ARE BOTH UP. SO EVERYTHING REALLY LOOKS PRETTY GOOD. THE PRESIDENT COMMENTED THAT WE ARE ON TRACK FOR  THE BEST YEAR OF GROWTH SINCE I BELIEVE IN 13 YEARS. > VACLAVIK SAYS THE NUMBERS DON'T PROVIDE MUCH  FUEL TO THE AG COMMODITY MARKETS. HE SAYS THE  MARKETS NEED MORE TRADE NEWS.  

CHINA FIGHTING BACK
AS EXPORTS TO CHINA WANE, CHINA SAYS IT WILL FIGHT BACK AGAINST EVERY TARIFF THE U-S PUTS INTO  PLACE. THAT'S AS CHINA'S PURCHASES OF U-S  SOYBEANS ARE AT THE LOWEST LEVEL IN MORE THAN A  DECADE. INSTEAD, SOURCING MORE BRAZILIAN BEANS.  BOLT MARKETING SAYS CHINA'S PURCHASED 78  PERCENT OF BRAZIL'S SOYBEAN EXPORTS SO FAR THIS YEAR.  THAT'S AS CHINA'S PURCHASES OF U-S SOYBEANS ARE  AT THE LOWEST LEVEL IN MORE THAN A DECADE.  INSTEAD, SOURCING MORE BRAZILIAN BEANS.  ACCORDING TO BLOOMBERG, THE CHINESE  GOVERNMENT SAYING THIS WEEK ITS READY TO  RESPOND TO TO TARIFFS FROM THE U-S, WHETHER IT  COMES IN THE FORM OF 16 BILLION DOLLARS OR 200 BILLION DOLLARS.  CHINESE OFFICIALS ALSO SAYING BOTH SIDES HAVE HAD NO CONTACT ABOUT RENEWING TRADE TALKS.  

CROP CONDTIONS
WE'LL GET AN UPDATED LOOK AT CROP CONDITIONS LATER TODAY, BUT AS OF LAST MONDAY, USDA CALLED  72 PERCENT OF THE CORN CROP GOOD TO EXCELLENT.  10 POINTS BETTER THAN LAST YEAR.  BUT WHEN YOU GET BOOTS ON THE GROUND, IT'S  REALLY A MIXED BAG OF CROP CONDITIONS THIS YEAR. <THAT'S HAIL DAMAGE> IT'S BEEN A ROUGH RIDE FOR FARMERS LIKE MICHAEL  COX.  <WE HAD PROBBALY ABOUT THE 9 LEAF STAGE> FROM HAIL TO HEAT TO DRYNESS, HE SAYS IT'S A SOUTHERN ILLINOIS CORN CROP THAT WILL COME IN  SHORT OF LAST YEAR. <IT HAD LOTS OF HAIL DAMANGE IN IT, SO A LOT OF HTE BASES HAVE HOLES IN THEM AND THE STALKS ARE FALLIGN DOWN SO WE PROBABLY  ALREADY HAVE 25 PERCENT OF HTE CORN ON TEH GROUND> BUT IF RAIN COMES SOON, HIS BEANS MAY BE  BOUNTIFUL, <THE LATER SEASON BEANS ARE LOOKING GOOD BUT THEY STILL NEED  SOME TIMELY RAINS TO FINISH THEM ON OUT. BUT AS A WHOLE THE BEAN  CROP LOOKS BETTER THAN THE CORN CROP DOES> BUT WHERE THE RAINS HAVE HIT...  <I THINK WE''RE GOING TO HAVE A GOOD CROP, A REALLY GOOD CROP.  AND I JUST HOPE MAYBE WE CAN GET A DECENT PRICE OUT OF IT> WADE ALLARD FARMRS 60 MILES WEST OF COX. AND  RAINS HAVE BEEN STEADIER THIS YEAR.  <ACTUALLY WE WAS OUT IN THE FCORN FIELD TODAY AND I THINK IT'S GOING TO , RIGHT NOW, IT'S AS GOOD AS IT WAS LAST YEAR. AND WE'RE THINKING  ANOTHER RAIN OR TWO, IT COULD BEA LITTLE BETTER. > LAST YEAR HE SAYS THE AVERAGE YIELD WAS 177  BUSHELS PER ACRE, ONE OF THE BEST YIELDS HE'S  EVER HAD.  AND HE SAYS BEANS HAVE HTE POTENTIAL TO HIT A  NEW RECORD TOO, PENDING MORE TIMELY RAINS. BUT IT'S THAT RAIN IN SHORT SUPPLY IN MISSOURI. THE LATEST DROUGHT MONITOR SHOWS EXTREME  DROUGHT CREEPING INTO LAFAYETTE COUNTY,  MISSOURI, WITH EXTREME CONDITIONS NOW COVERING  NEARLY 16 PERCENT OF THE STATE.  AND IT'S LAFAYETTE COUNTY FARMER ROGER  MCFADDEN FORCED TO BALE HIS CORN CROP THIS  YEAR. THE HAY CROP IS EXTREMELY SHORT AND WITH DEPLETING OUTLOOKS FOR DROUGHT-STRICKEN CORN  IN THE AREA, HE'S DOING WHAT HE CAN TO FIND  ENOUGH FEED FOR HIS CATTLE.  IT'S DROUGHT ALSO PLAGUING COLORADDO THIS YEAR.  10 PERCENT OF THE STATE SEEING THE MOST SEVERE   PRCONDITIONS AND 40 PERCENT IS FACING EXTREME  DROUGHT.  BUT IT'S THESE AREAS FARMERS USED TO THE  CHALLENGES OF MOTHER NATURE.  "WE PRETTY MUCH HAVE A SET ROTATION THAT WE  DO, DEPENDING A LOT ON THE WATER. SOME YEARS WE ARE SHORT ON  WATER AS WE ARE THIS YEAR" IT'S WATER THAT'S WANING AS EXTREME DRYNESS  GRASPS GROWS. AND IT'S WATER THAT'S HERGERT'S  BIGGEST CHALLENGE YEAR AFTER YEAR  "WE HAVE HAVE HAD A CHALLENGE. WE'VE HAD  A LOT OF 90 DEGREE DAYS AND NOT A LOT OF HELP FORM MOTHER NATURE,  NOT A LOT OF RAIN, AND THE WATER THAT WE DO HAVE IS RUNOFF FROM THE  MOUNTAINS" SNOWPACK WAS SPARSE AND GROWING  MUNICIPALITIES ARE FIGHTING FOR VALUABLE WATER.  THAT MEANS HIS AVAILABLE WATER HAS DECLINED 30  PERCENT IN RECENT YEARS, ADDING TO THE PAIN.  "WE'RE PROBABLY 8 TO 10 INCHES BEHIND AND WE DON'T GET MUCH MOISTURE ANYWAY." AS AREA FARMERS COME TO GRIPS WITH TEH REALITY  TODAY, THEYR'E HOPEFUL THE "BETTER THAN  EXPECTED" STORY PLAYS OUT AGAIN THIS FALL.  IOWANS ARE STILL CLEANING UP THE DAMAGE AFTER A  HANDFUL OF TORNADOES SWEPT THROUGH THE  CENTRAL PART OF THE STATE JUST OVER A WEEK AGO.  TAKE A LOOK AT THIS - ONE OF THE TORNADOES TOUCHED DOWN AND SWEPT THROUGH A CORNFIELD IN  BONDURANT (BON-DER-ANT). THE FARMER ESTIMATING  THE TWISTER TORE THROUGH 40 OF HIS ACRES. HE  EXPECTS 25-THOUSAND DOLLARS WORTH OF DAMAGE.  <"SO ABOUT A MILE LONG STRIP OF DAMAGE. I'D SAY IT'S AVERAGING  ABOUT 200 FEET WIDE, ALMOST COMPLETE DISTRUCTION. I DON'T THINK  WE'LL BE ABLE TO SAVE ANY OF THE CORN THAT'S KNOCKED DOWN. IT'S  BROKEN OFF AND WON'T BE GOOD FOR HARVEST,"> BELIEVE IT OR NOT, NEW-BY SAYS THIS ISN'T THE  WORST DAMAGE HE'S HAD IN HIS FIELD. NEW-BY SAYS  HE'S HAD 80 MILE PER HOUR STRAIGHT LINE WINDS  CREATE DAMAGE IN THE PAST.  

CROP COMMENTS
MIKE HOFFMAN JOINING US THIS MONDAY MORNING FOR A LOOK AT CROP COMMENTS. MIKE. GOOD MORNING, TYNE  LET'S START OFF IN LEONARD, MISSOURI. SHAWN  MCEWEN SHOWING US THE HARDSHIPS FARMERS IN  THE SHOW-ME STATE ARE GOING THROUGH THIS YEAR. HE SAYS THE AREA HAS BEEN EXTREMELY DRY. MATURITY AND PLANTING DATE HAS BEEN A BIG  FACTOR ON WHAT ISN'T POLLINATING.  MOVING OVER TO WILLAMETTE VALLEY, OREGON,  SHELLY BOSHART DAVIS SENDING US HER VIEW OF  GRASS SEED HARVEST FROM INSIDE THE TRUCK. THE  U.S. DROUGHT MONITOR SAYS 94 PERCENT OF THE  STATE IS ABNORMALLY DRY. MORE THAN HALF IS CONSIDERED A SEVERE DROUGHT.  AND TAKE A LOOK AT THE DROUGHT MONITOR YOU CAN SEE THAT WE  TALKED ABOUT TWO AREAS NORTHERN MISSOURI RIGHT THERE UNDER AN  EXTREME DROUGHT AND MOST OF OREGON UNDER A SEVERE DROUGHT. YOU SEE A LOT OF THE SOUTHERN PLAINS BUT ESPECIALLY IN THE  SOUTHWEST STILL IN THE WORST SHAPE. WE'LL TALK MORE ABOUT YOUR  FORECAST COMING UP BUT FIRST HERE ARE SOME HOMETOWN TEMPS.  

TEASE
STILL TO COME, TACKLING THE UNCHARTED WATERS OF TRADE UNCERTAINTY AND HOW IT'S IMAPCTING COMMODITY MARKETS TODAY.  PLUS, THE ART AND SCIENCE OF TURNING BARLEY INTO BEER WE'LL HEAD IN THE COUNTRY TO IDAHO LATER  ON AGDAY. 

FLOOR OF THE CME
IN AGRIBUSINESS, IT WAS A MIXED DAY ON THE FLOOR  OF THE CME ON FRIDAY. LET'S HEAD TO THE FLOOR FOR  MORE DETAILS.  TODAY BEANS WERE RISING THE MARKET REALLY STARTED TO MOVE UP IN A COUNTERTREND AND IT REALLY WAS GAINING SOME STRENGTH. THE MARKET WAS UP ALMOST 10 CENTS TODAY EVEN THOUGH BECAUSE WE'VE HAD THAT WILD MOVEMENT OVER THE NEXT COUPLE OF DAYS AND IT'S BEEN UP AND DOWN GIVEN US SOME VOLATILITY BUT SOME REAL POSSIBILITY THAT WE'RE COMFORTABLY OFF THE GROUND TODAY. IT WAS A LITTLE BIT EASIER DOWN ALMOST NINE CENTS. WE'VE GOTTEN BACK TO 50 PERCENT RETRACEMENT OF THE EXPLOSIVE RALLY THAT WE HAD JUST A COUPLE OF DAYS AGO. THAT'S PRETTY COMMON. THAT'S KIND OF LIKE A TECHNICAL CORRECTION. I THINK IT'S JUST TAKING A LITTLE BIT OF A BREATHER AS SOME TRADERS TAKING THEIR MONEY OFF THE TABLE. BUT WE'RE REALLY GOING TO WATCH THAT CLOSELY. CATTLE WAS MIXED TODAY IT SEEMS THAT THERE HAS BEEN A LITTLE BIT HIGHER CASH MARKET. AND I THINK THAT WE REALLY GOT A LITTLE BIT OF A POP THERE. A YESTERDAY'S DRAMATIC SELL OFF RESULTED IN THE SHARP DROP IN THE BEEF EXPORT SALES 65 PERCENT FROM LAST WEEK. AND YOU KNOW SOME OF THE SHORT COVERING HELPED TO SHORE IT UP A LITTLE BIT. THE MARKET DID NOT FINISH ON ITS COMPLETE LOW YESTERDAY. SO THAT GIVES US A LITTLE BIT OF RELIEF THAT THE MARKET ISN'T GOING TO COMPLETELY PLUNGE. THAT'S ALL FROM THE FLOOR AT THE SIMI GROUP HERE IN CHICAGO. VIRGINIA MCGRATH THE. 

AGRIBUSINESS
 HERE NOW WITH BOB UTTERBACK OF UTTERBACK MARKETING. BOB  WHEN YOU LOOK AT THIS TRADE SITUATION GOING ON TODAY WE'RE REALLY IN UNCHARTED WATERS. BUT THE FRUSTRATION I HEAR FROM A LOT OF  PRODUCERS IS WE THOUGHT WE WOULD SEE A SUMMER WEATHER SCARE  WHEN IT COMES TO CORN AND WE REALLY DIDN'T. SO WHAT'S YOUR  ADVICE NOW FOR THOSE HOLDING ON THE OLD CROP CORN. THE WEATHER  SCARE IS WE HAD GOOD WEATHER NOT BAD WEATHER. AND SO LOOKING  FORWARD YES WE STILL HAVE TIME TO HAVE SOME PROBLEM. BUT I  WOULD SAY MOST OF THE BEARISHNESS IS NOW FACTORED IN HERE BY  THE AUGUST SEPTEMBER DANGER AND THE LOW WILL COME IN AND I  WOULD BE FOR FEED BUYING. I WOULD BE GETTING VERY HIGH IN AUGUST SEPTEMBER DIME VERY BUYING FOR THE LONG TERM. IF YOU HAD TO SELL  AND DUMP YOUR INVENTORY HERE BECAUSE THE BASES IN SPACE I  WOULD BE LOOKING FOR REANNA SHOP AND IN THE MONEY GO PUT  YOURSELF IN POSITIONS THAT YOU CAN WAIT CLEARED AND NEXT MAY  JUNE JULY FOR THE RECOVERY AND PRICES. DON'T EXPECT THINGS GOING  A KNEE JERK REACTION BACK. NOW SOME PEOPLE SAY YOU KNOW  WE'RE ONE TWEET AWAY FROM A DOLLAR RALLY AND BEING RESOLVED. BUT  I FRANKLY FEEL THE CHINA THING IS IN FOR THE LONG PULL. I'M HOPEFUL  THAT THE NAPSTER SITUATION GET RESOLVED AND THAT'LL HELP COIN. BUT  WE'VE GOT TO WE'VE GOT TO EAT THROUGH THIS SUPPLY. YOU CAN'T SAY  WE MAY HAVE TO HOLD TIGHT FOR ANOTHER YEAR BEFORE WE COULD SEE YES HIGHER CORN PRICES. BUT REMEMBER THESE 19 CORNS AT 395.  THIS YEAR'S HIGH WAS 425 AT 425 WITH 350 GUF AT 75 CENTS  A BUSHEL OVER COS THAT'S ABOUT 125 DOLLARS AN ACRE PROFIT. I THINK YOU'VE GOT TO SELL FOR BEFORE FIFTY POINT. NOW IF THAT HAPPENS EARLY  HOW ARE YOU GOING TO BE ABLE TO TAKE IT AND WHY SAY EARLY APRIL  OR JANUARY ANY TIME BEFORE MID EARLY JULY. THERE'S AN EARLY SALE  TIE YOU CAN PUT YOURSELF POSITION TAKE ADVANTAGE OF IT BUT I  GUARANTEE YOU SOMEBODY'S GOING TO BE TALKING ABOUT WHETHER  BEND THE DRY WEATHER IN THE WEST MOVING INTO EAST AND ALL KINDS  OF REASONS AND A HIGHLY MOTIVATED PEOPLE TO STORE AND NOT GET  CAUGHT IN THE SAME TRAP WE'RE AT RIGHT NOW. YEAH. NO WEATHER EVENT. BIG INVENTORIES AND THEY GOT IT LOW PRICES AND LOW PRICES  AND WIDE BASIS. THE ULTIMATE PROBLEMS AREN'T FAR BETTER. THANK  YOU SO MUCH FOR JOINING US. STAY WITH US WE'LL TAKE A QUICK CHECK  OF. WE'LL TAKE A QUICK BREAK AND THEN WE'LL HAVE A CHECK OF  WEATHER HERE ON DAY.  

WEATHER
WELCOME BACK TO AGDAY ON THIS MONDAY. WELL TAKING A LOOK AT THE RAIN WE HEARD OF SOME FLOODING IN PENNSYLVANIA AND IT'S SHOWING UP ON THAT MAP THE EAST COAST JUST GOT POUNDED WITH MOISTURE. YEAH THIS IS RADAR ESTIMATES FROM PREVIOUS SATURDAY TO THIS PAST FRIDAY. SO ABOUT A WEEK LONG PERIOD AND AS YOU CAN SEE SOME DECENT MOISTURE FROM NORTHEASTERN PORTIONS OF NEW MEXICO ALL THE WAY INTO EASTERN COLORADO WESTERN KANSAS KIND OF HIT AND MISS. THOUGH BACK THROUGH THE FOUR CORNERS REGION AND A LITTLE BIT LESSER AMOUNTS FARTHER NORTH BUT IT REALLY WAS ALONG THE EAST COAST THROUGH THE MAJORITY OF THE RAIN FELL FROM A WEEK AGO SATURDAY INTO THIS PAST FRIDAY LOTS OF NORTH CENTRAL FLORIDA HAD 2 3 4 INCHES OF RAIN. THEN YOU GO UP THE SHORELINE EASTERN PORTIONS OF NORTH CAROLINA AND THEN ESPECIALLY MARYLAND ON INTO EAST CENTRAL SECTIONS OF PENNSYLVANIA VERY HEAVY RAIN SOME AREAS ENDING UP WITH OVER 8 9 10 INCHES OF RAIN. NOW THIS IS SOME BAD DATA APPEAR FROM THE RADAR SITE SO I DON'T BELIEVE THAT BUT IT DOES LOOK LIKE IF WE CONTINUE THOSE YELLOW STREAKS ALONG YOU PROBABLY ENDED UP WITH ONE TO TWO INCHES IN THAT PART OF NEW ENGLAND. TAKE A LOOK AT THE JETSTREAM AS WE HEAD INTO THIS WEEKEND SEE ANOTHER TROUGH KIND OF DIGGING IN AND SITTING THERE OVER THE CENTRAL MISSISSIPPI VALLEY AND THAT'S GOING TO BE PRODUCING SOME AREAS OF SHOWERS AND THUNDERSTORMS AS I SHOW YOU THAT TROUGH TAKES A LITTLE WHILE TO GET GOING NOW AT THIS POINT ARE OUR MODEL IS ACTUALLY SHOWING A REDS BUILDING BACK TEMPORARILY INTO THE NORTHEAST AND THEN THE TROUGH DIGS BACK IN TO THE CENTRAL PORTIONS OF THE COUNTRY BY NEXT WEEK. SO TEMPERATURES THIS WEEK AND GOING ABOVE NORMAL IN THE NORTHEAST GOING ABOVE NORMAL FROM UTAH THROUGH CALIFORNIA AND INTO A BIG SWATH OF BELOW NORMAL THROUGH THE MIDDLE OF THE COUNTRY ALL THE WAY FROM THE GULF COAST TO THE CANADIAN BORDER AS FAR AS PRECIPITATION THIS COMING WEEK WE'RE GOING TO GO ABOVE NORMAL WITH THAT SLOW MOVING SYSTEM MOVING THROUGH THE CENTRAL MISSISSIPPI VALLEY. THIS COULD BE SOME GOOD NEWS FOR SOME OF THOSE DRY AREAS OF THE CENTRAL PLAINS ESPECIALLY MISSOURI WE'RE HOPEFUL ANYWAY THAT YOU FOLKS GET SOME RAIN. SOMETIMES WHEN YOU'RE IN A DROUGHT THOUGH THE DRY GROUND KIND OF KEEPS NEW STUFF FROM DEVELOPING AND KEEPS YOU DRY. SO WE'LL WATCH THAT. BUT BASICALLY OKLAHOMA KANSAS ALL THE WAY TO THE NORTHEAST AND THE EASTERN SEABOARD EXPECTED TO BE ABOVE NORMAL NORTHERN PLAINS THROUGH CALIFORNIA BELOW. AUGUST TEMPERATURES ABOVE NORMAL NORTHERN PLAINS GREAT LAKES ABOVE NORMAL THEN SOUTHERN PORTIONS OF THE COUNTRY AND ALONG THE EAST COAST SAME THING ALONG THE WEST COAST WE'LL GO TO SEPTEMBER. TEMPERATURES NEAR NORMAL FOR MOST OF THE CORN BELT ABOVE NORMAL EAST COAST GULF COAST NORTHWEST AND THERE IS THAT BELOW NORMAL FOR OCTOBER INTO THE MIDDLE OF THE COUNTRY. LOT OF THE EDGES ABOVE NORMAL PRECIPITATION WISE AND BELOW NORMAL FOR THE SOUTHERN PLAINS UNFORTUNATELY IN AN ABOVE NORMAL FOUR CORNER REGION AND ALSO THE TENNESSEE VALLEY AND THE SOUTHEAST. THAT'S A LOOK ACROSS THE COUNTRY. NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS. 

 FIRST OFF OR SPOKANE WASHINGTON SUNSHINE BECOMING VERY HOT TODAY A HIGH OF 100 DEGREES IN OKLAHOMA NOT VERY HOT MOSTLY CLOUDY SHOWERS THUNDERSTORM LIKELY HIGH OF JUST 81 IN PORTSMOUTH OHIO VARIABLY CLOUDY MAYBE A STORM HIGH 85. THANKS SO MUCH. 

TEASE
STILL TO COME, MACHINERY PETE HAS HIS PULSE ON WHAT'S BEEN A HOT ITEM ON TEH AUCTION MARKETS.  IT'S OUR MONDAYS WITH MACHINERY PETE.    PLUS, WHY FARMERS ARE THE BACKBONE OF A MAJOR  BREWER. WE'RE IN THE COUNTRY TO IDAHO LATER ON  AGDAY.

MACHINERY PETE
MACHINERY PETE JUST GOT BACK FROM AN AUCTION IN THE WESTERN CORN BELT. HE'S SHARING THE HOT  BUYS WITH US THIS MORNING.  I'M STARTING TO SEE MORE EVENING FARM AUCTIONS FOLKS. THIS  TREND STARTED OUT EAST AND PENNSYLVANIA WOULD SEE MORE AUCTIONS IN THE EVENING BUT LATELY IT'S BECOME ONE OF THE MIDWEST  SAW A VERY NICE AUCTION LAST WEDNESDAY EVENING IN EAST CENTRAL  SOUTH DAKOTA SALE BY CHUCK SUTTON AUCTIONEER AND LAND BROKER.  NOW A COUPLE OF REALLY STRONG ITEMS ON THE SALE LED BY THIS 1992 CASE AGE 16 60 COMBINE 30 577 ENGINE HOURS ON ITS OWN FOR  TWENTY EIGHT THOUSAND DOLLARS. THAT'S THE HIGHEST AUCTION PRICE  I'VE SEEN ON A 16 66 AND OVER FOUR YEARS NOW THE AVERAGE  AUCTION PRICE ON THE LAST TEN OF THEM SOLD. THAT NUMBER COMES  IN AT 19000 220 DOLLARS. IT'S A 46 PERCENT PREMIUM HERE. UP AT 28000. NOW ONE OTHER STRONG ITEM ON THE SALE WEDNESDAY WAS  THIS TRACTOR 1979. JOHN YOU'RE 84 44 WILL DRIVE 60 165 HOUR SHONE  ON IT. SO FOR NINETEEN THOUSAND DOLLARS NOW THE AVERAGE AUCTION  PRICE ON THE LAST 40 84 40 SOLD EQUALS TEN THOUSAND THREE  HUNDRED NINETEEN DOLLARS SO 84 PERCENT PREMIUM THERE. BUT OF COURSE A BIG PIECE OF THAT WAS THE RUBBER. YOU CAN SEE VERY NICE  CONDITION ON THIS TRACTOR. AND ONE OTHER ITEM ON THE SALE LAST  WEDNESDAY WAS THIS CASE 1840 SKID STEER 2500 HOURS. NOW  WE'VE TALKED A LOT RECENTLY ABOUT OLDER SKIDS TWO YEARS GOOD  CONDITION HAVE BEEN VERY HOT. WELL CONTINUATION OF THE TREND  HERE WEDNESDAY AND GO TO THIS 1840 ONE UPSELLING FOR TEN THOUSAND FIVE HUNDRED DOLLARS. AND THE AVERAGE AUCTION PRICE ON  THE LAST 42 SOLD IS EIGHT THOUSAND ONE HUNDRED EIGHTY NINE  DOLLARS.  THANKS, GREG. 

TEASE
IT'S A POPULAR BEER THAT'S SOLD IN CASES EACH YEAR.  IN FACT, AMERICANS PURCHASE ABOUT 269 MILLION  CASES OF IT ANNUALLY, WE'LL TAKE YOU BEHIND THE  SCENES OF THE BEER CROP NEXT ON AGDAY.   

IN THE COUNTRY
THERE'S A MULTITUDE OF CROPS USED TO MAKE BEER--  WHEAT, RYE, SORGHUM RICE.. BIT IT'S BARLEY THAT  TENDS TO BE THE PREFERRED GRAIN FOR BREWERS.  THIS YEAR, 81 PERCENT OF THE CROP IS RATED GOOD  TO EXCELLENT, A 4 POINT DROP IN A WEEK.  IN IDAHO, THE CROP LOOKS GOOD TODD GLEASON  SHOWS US THE SCIENCE INTO MAKING ONE POPULAR  BEER .  UNIVERSITY OF ILLINOIS EXTENSION. I'M TOM CLASEN. YOU KNOW  YOU MIGHT THINK OF ANHEUSER-BUSCH AS A BEVERAGE COMPANY PRODUCING GREAT AMERICAN BEERS LIKE BUDWEISER. HOWEVER IT'S A  HIGHLY INTEGRATED AGRICULTURAL COMPANY AB INBEV DEVELOPS AND  TEST ITS OWN BARLEY VARIETIES. JOSH BUTLER IS THE SENIOR MANAGER FOR GLOBAL BARLEY BREEDING DURING THIS YEAR'S GROWERS DAY. HE  EXPLAINED TO THE FARMERS WHO RAISE BARLEY FOR ANHEUSER-BUSCH  THAT HIS GROUP HAS THREE MAIN CUSTOMERS. THERE'S THE MALTSTER BEERS MADE FROM MALTED BARLEY. THE BREWER THE MALT NEEDS TO  BE CONSISTENT IN ITS ENZYME AND PROTEIN MAKEUP AND MOST  IMPORTANTLY HE SAYS THE FARM. SO REALLY ULTIMATELY THE FIRST GOAL IS YIELD YIELD AND STAND ABILITY AND OTHER ECONOMICS THAT ARE  BENEFICIAL TO A GROWER BREEDING NEW HIGH YIELDING BARLEY  VARIETIES FARMERS WILL GROW THAT ALSO MEET THE NEEDS OF THE OTHER TWO CUSTOMERS. THE MALTSTER IN THE BREWER IS A PRETTY DIFFICULT  TASK WHEN YOU COMBINE IT WITH THE OTHER ASPECTS OF THE OTHER  CUSTOMERS WERE TRYING TO MAKE CAN BE DIFFICULT BECAUSE OF THE UNIQUE ASPECTS OF BUDWEISER AND WHAT WE'RE LOOKING FOR THE  ENZYME PACKAGE AND SO ON IT IS MORE COMPLEX THAN BREEDING FOR  AND FOR SOME OF THE CRAFT TYPE BEERS. SO IT'S A VERY UNIQUE SET OF SPECS SO WHEN YOU COMBINE THAT WITH THE TRAITS THAT WE'RE  LOOKING FOR ECONOMICALLY IT CAN GET RELATIVELY COMPLEX A  COMPLEXITY ANHEUSER-BUSCH THE AGRICULTURAL COMPANY WORKS TO  MANAGE FOR THE BENEFIT OF ITS BARLEY GROWERS MALTSTERS AND BREWERS FOR UNIVERSITY EXTENSION. I'M TODD GLEASON  GLEASON SAYS ABOUT 600 FARMERS PROVIDE THE  BARLEY FOR 98% OF BUDWEISER SOLD IN THE UNITED  STATES... ABOUT 400 RICE PRODUCERS. 

CLOSE
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.  FOR MIKE HOFFMAN,ALL OF US AT AGDAY, I'M TYNE MORGAN, HAVE A GREAT WEEK IN FARM COUNTRY

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