AgDay Daily Recap -March 10, 2017

March 10, 2017 12:57 AM
 
AgDay

TODAY ON AGDAY
MARCH 10, 2017


HEADLINES
WE'RE CHECKING THE PULSE OF FARM COUNTRY FROM COMMODITY CLASSIC. THOUSAND TURN OUT IN SAN ANTONIO--READY FOR 2017. I'M MICHELLE ROOK HERE AT THE COMMODITY CLASSIC, WHERE THE UNCERTAINTY ABOUT TRADE UNDER  THE TRUMP ADMINISTRATION CONTINUES.  I'LL HAVE THE DETAILS TODAY ON AGDAY .  WHEAT ACREAGE CONTINUES TO FALL... CAN WHEAT GROWERS WIN BACK THAT GROUND.A SHOW FLOOR PROFIT BRIEFING...WITH CHIP FLORY.SOYBEAN LEADERS ARE LOOKING AT NEW PRICING STRATEGIES TO DRIVE VALUE. AND FINDING NEW MARKETS...FOR SORGHUM COULD LEAD STRAIGHT TO AMERICA'S KITCHENS.THIS SPECIAL EDITION FROM THE 2017 COMMODITY CLASSIC IS BROUGHT TO YOU EXCLUSIVELY BY  FARMERS EDGE.  FOR THE LATEST IN MAKING SENSE OF YOUR DATA, VISIT GROWYOURRETURNS.COM.

SETTING POLICY AT COMMODITY CLASSIC
HELLO AND WELCOME TO A SPECIAL EDITION OF AGDAY FROM THE 2017  COMMODITY CLASSIC IN SAN ANTONIO TEXAS.  I'M CLINTON GRIFFITHS. FOR MORE THAN TWO DECADES NOW, COMMODITY CLASSIC HAS HELPED SET  THE STAGE FOR THE GROWING SEASON. FARMERS AND PRESENTERS FROM ACROSS THE COUNTRY POURING INTO ONE  PLACE--WITH ONE GOAL IN MIND--GET READY FOR 2017. PART OF THAT IS LEARNING NEW CONCEPTS, SEEING NEW IDEAS, PART OF THAT  IS SETTING POLICY AND INDUSTRY DIRECTION.  AND AS ATTENDANCE HAS GROWN SO HAS THIS EVENT'S INFLUENCE--EVEN  PULLING THE CHAIR OF THE HOUSE AG COMMITTEE TO THE STAGE THIS YEAR. AVERAGING JUST SHY OF 3-THOUSAND ACRES A PIECE--FARMERS HERE AREN'T  SHY ABOUT THE CHALLENGES THEY FACE IN TODAY'S FARM ECONOMY. COMMODITY CLASSIC IS MADE UP OF REPRESENTATIVES FROM THE CORN,  SOYBEAN, WHEAT AND SORGHUM INDUSTRIES. AND OF COURSE LEADERSHIP FROM EACH ARE ECHOING THEIR CONCERNS  ABOUT THE FUTURE. BECAUSE PRICES HAVE  COLLAPSED, PEOPLE SAY CHINA MUST HAVE STOPPED BUYING SORGHUM. WELL THEY HAVEN'T THEY ARE  STILL BUYING AND THEY'RE ON TRACK AT MEETING OUR EXPECTATIONS FOR EXPORTS AGAIN THIS YEAR OF  OVER 50 PERCENT OF OUR INDUSTRIES   50 DOMESTIC DEMAND ON THE BIO FUELS LEVEL IS GOING TO BREAK ANOTHER RECORD FOR THE HIGHEST  USE EVER IN SORGHUM AGAIN THIS YEAR PROBABLY CHINA IS AN EXTREMELY IMPORTANT MARKET. WE WANT TO MAKE SURE OUR EXPORTS ARE NOT DISRUPTED THAT WE'RE NOT INVOLVED IN ANY TYPE OF TRADE WAR WHEN WE HEAR ABOUT TARIFFS  BEING PUT ON CHINESE GOODS COMING IN. THAT'S SOMETHING THAT CONCERNS US OF HOW WOULD  CHINA RETALIATE? WE'RE NOT GOING TO GROW  DEMAND QUICKLY AS WE SAW WITH THE CREATION OF THE FIRST RENEWABLE FUELS STANDARD. THAT WAS  AN UNIQUE TIME IN HISTORY AND AN UNIQUE OPPORTUNITY FOR CORN GROWERS. THE FUTURE GROWTH OF  DEMAND IS GOING TO BE SLOW AND STEADY. BUT THERE ARE PLENTY OF OTHER COUNTRIES OUT THERE THAT ARE IN NEED OF US WHEAT BUT WHAT WE NEED IS THE ADMINISTRATION IS TO FOCUS IN ONE ON SO WE CAN BE SUPPORTIVE OF THAT AND HELP MOVE THAT BALL FORWARD.

TRADE AND THE NEW ADMINISTRATION
AS YOU'VE HEARD--TRADE AND BEING ABLE TO EXPORT LARGE CROPS TO  MARKETS OUTSIDE OF THE COUNTRY REMAINS VITAL TO THE VIABILITY OF THE  FARM ECONOMY. BUT A NEW ADMINISTRATION IS STIRRING THE POT AND TESTING THE WATERS OF SOME LONG STANDING PARTNERSHIPS. MICHELLE ROOK JOINS US FROM THE SHOW WITH MORE. FIRST IT WAS TPP, THEN NAFTA, AND NOW THE TRUMP ADMINISTRATION  WANTS TO TINKER WITH THE U.S. RELATIONSHIP IN THE WORLD TRADE ORGANIZATION.   THE WHITE HOUSE CLAIMS THEY WANT TO NEGOTIATE TRADE DISPUTE OUTSIDE THE WTO BECAUSE  THE U.S. IS NOT TREATED FAIRLY, BUT THERE'S MORE TO IT.   "SO THE REASON THAT WE'RE TALKING ABOUT LEAVING  WTO IS BECAUSE OF OUR STANCE ON NAFTA.  IF INDEED WE WANT TO RENEGOTIATE NAFTA, THE  MEXICANS WILL PROBABLY WALK FROM THE TABLE IF WE TALK TARIFFS AT ALL.  THAT MEANS THAT WE WOULD  GO BACK TO THE WTO."    HOWEVER, THE CEO OF THE U.S. GRAINS COUNCIL SAYS AGRICULTURE HAS DONE WELL UNDER THE  WTO. "THE DISPUTE SETTLEMENT PROCESS HAS BEEN VERY  IMPORTANT TO SETTLE SUCH KEY ISSUES LIKE ON BIOTECHNOLOGY ACCESS, PHYTOSANITARY MEASURES  AND THINGS LIKE THAT, SO I THINK IT'S SOMETHING WE NEED TO BE TALKING A LOT MORE ABOUT."    BEYOND THAT, TRADE DISPUTES CAN ALREADY BE SETTLED OUTSIDE THE ORGANIZATION.    IT'S SOMETHING THAT WE CAN DO  UNDER OUR OWN U.S. LAWS.  HOWEVER, IF WE DID THAT IT WOULD BE CHALLENGEABLE WITHIN THE  WTO."  SO, TO CIRCUMVENT THAT THE U.S. WOULD HAVE TO PULL OUT OF THE WTO, SOMETHING THE  ADMINISTRATION HAS ALSO MENTIONED.  HOWEVER, THE CHAIR OF THE HOUSE AG COMMITTEE SAYS  TRADE AGREEMENTS ARE ONLY AS GOOD AS THE ENFORCEMENT BEHIND THEM.   "THE TRADE AGREEMENTS ARE ONLY AS  GOOD AS THE ENFORCEMENT PROCESS ASSOCIATED WITH THEM."   CONAWAY, "YOU LOOK AT OUR ENFORCEMENT ACTION THAT WE'VE TAKEN AGAINST CHINA WHERE THEY'RE  SPENDING A HUNDRED BILLION A YEAR ON THREE CROPS.  WE SPEND 100-BILLION ON OUR SAFETY NET  OVER EIGHT YEARS OR SO AND SO ENFORCEMENT IS A BIG DEAL."   FARM GROUPS ARE ALSO OPPOSED TO PULLING OUT OF THE 180-MEMBER TRADE PACT.   CENSKY, "IF WE PULLED OUT OF THE WTO SUDDENLY WE WOULD HAVE TO NEGOTIATE NEW TRADE  AGREEMENTS WITH OVER 180 COUNTRIES AROUND THE WORLD."  "THOSE COUNTRIES  COULD APPLY ANY TARIFF THAT THEY WANTED TO TO OUR GOODS."    PLUS, UNDER THE WTO AGREEMENT THE U.S. HAS MOST FAVORED NATION STATUS WHICH MEANS  LOWER TRADE TARIFFS WITH THE OTHER COUNTRIES IN THE DEAL.  SO, THE AG COMMUNITY IS URGING THE  ADMINISTRATION TO STAY THE COURSE.SLEIGHT, "WE NEED THE WTO IN TERMS OF A FOUNDATION FOR THE RULES OF TRADE WE NEED THAT  FOUNDATION, THAT GLOBAL FOUNDATION."  I'M MICHELLE ROOK REPORTING FOR AGDAY.   THANKS MICHELLE.

WHEAT INDUSTRY PRESSURE
NO MAJOR GRAIN CROP HAS SEEN MORE PRESSURE THAN THE WHEAT  INDUSTRY. FROM CENTURY LOW WINTER WHEAT ACRES, TO FEWER SPRING PLANTINGS-- THIS FARM STAPLE IS UNDER STRESS. I ASKED LEADERSHIP WHAT THE FUTURE HOLDS FOR WHEAT GROWERS. WHEAT IS STILL THE THIRD LARGEST COMMODITY IN THE UNITED STATES.  BUT ACREAGE CONTINUES TO DWINDLE. THIS SEASON USDA IS FORECASTING  AMERICAN FARMERS WILL PLANT 46 MILLION ACRES--IT'S THE FIRST TIME ALL  WHEAT ACRES HAVE BEEN BELOW THE 50 MILLION MARK SINCE 1970. THE WINTER WHEAT ACRES WERE THE SMALLEST IN 108 YEARS.  LESS WHEAT THIS YEAR. INCOME FROM WHEAT HASN'T BEEN VERY GOOD. NOT MUCH TO LOOK  FORWARD TO THERE. THE LOW PRICES ARE DOING ITS JOB. THEY'RE CURING LOW PRICES. WE'VE GOT THE LOW ACREAGE  NUMBERS. I REALLY THINK THE KEY TO THE WHEAT MARKET IS OVERSEAS. LARGE GLOBAL STOCKS ARE PUSHING DOWN PRICES AND CREATING HEADWINDS  FOR THE FUTURE. THERE ARE PLENTY OF PEOPLE IN OTHER COUNTRIES THAT PRODUCE WHEAT CHEAPER THAN WE CAN.  SO THERE'S 50-100 COUNTRIES THAT PRODUCE WHEAT ALMOST EVERY DAY OF THE YEAR SOMEWHERE  ELSE. WHERE AS AMERICA IS JUST THE BEST IN THE WORLD AT GROWING CORN AND SOYBEANS. THAT'S WHY INDUSTRY LEADERS SAY ITS TIME TO CHANGE THE FOCUS. RATHER THAN LOOKING AT INCREASING ACRES AND ACRES AND ACRES OF WHEAT WE NEED TO BE  LOOKING AT HOW DO WE INCREASE OUR PRODUCTION AND MAKE SURE OUR QUALITY IS GOOD AND THAT  OUR YIELDS CONTINUE TO GO UP. IT'S A HIGH BAR AS USDA EXPECTS PRODUCTION IN 2017 TO BE DOWN 20  PERCENT FROM LAST YEAR.  WHEN YOU THINK ABOUT WHAT HELPS FARMERS THE MOST ESPECIALLY WHEN THEY'RE IN ENVIRONMENTS LIKE THIS ITS HELPING THEM TO DRIVE MORE PRODUCTIVITY FROM EACH ACRE IN THE MOST  EFFICIENT WAY THAT THEY CAN. EFFICIENCY IN BOTH GENETICS AND AGRONOMICS. AS FARMERS RACE TOWARD A  NEW GOAL--200 BUSHEL TO THE ACRE WHEAT. IF YOU GO OUT INTO HTE PNW AND UNDER SOME OF THAT IRRIGATION THEY'RE DEFINITELY LOOKING  AT THE 200 BUSHEL NUMBER AND SAYING I WANT TO BREAK THAT THRESHOLD.  ONE OF OUR NATIONAL WHEAT YIELD CONTEST WINNERS WHO PLANTED A  WESTBRED VARIETY WAS OVER 190. RIGHT NOW OUR GENETICS ARE THERE GENETICALLY WE HAVE REALLY NICE YIELD POTENTIAL IN THE  SOUTHERN GREAT PLAINS FROM BOTH PRIVATE AND PUBLIC GROUPS-- WE PROBABLY HAVE THE GENETIC  YIELD POTENTIAL OF 170 BU WHEAT BUT THE CHALLENGE IS THE ENVIRONMENT. AND BECAUSE WHEAT OFTEN GETS PLANTED IN LESS THAN IDEAL CONDITIONS,  PUSHING THE YIELD CURVE WILL REQUIRE A NEW MINDSET.  OU KNOW THE SOUTHERN GREAT PLAINS HAS TRADITIONALLY NOT BEEN AN INTENSIVE MANAGED  AREA SO IT'S BRINGING THE CROP PRODUCTION STRATEGIES WE HAVE IN COTTON CORN AND SOY  PRODUCTION INTO THE WHEAT CROP. 9:41 WE STARTING BRINGING ALL OF THOSE TOGETHER ALONG WITH A  POSITIVE MARKET ABOVE THE CURRENT PRICE AND WE'LL SEE IT BACK IN ROTATION. LOW PRICES DO TWO THINGS LOW PRICES PUSH FARMERS TO PRODUCE MORE AND LOW PRICES  CONTINUE TO PUSH INNOVATION. AND THIS COMMODITY WILL NEED BOTH TO HELP OVERCOME RECENT TRENDS  AND KEEP ITS PLACE ON AMERICA'S FARMS.

TEASE
ALRIGHT WHEN WE COME BACK....ITS OUR WEEKLY PRO FARMER PROFIT  BRIEFING. I CAUGHT UP WITH CHIP FLORY DOWN HERE IN TEXAS FOR A PRE PLANT  PREVIEW. AND LATER, CAN SOYBEAN GROWERS FIND A NEW PRICING STRUCTURE TO HELP  BRING VALUE TO THE CROP. AND HAVING A LITTLE FUN FROM THE TRADE SHOW FLOOR. AGDAY - BROUGHT TO YOU BY RESICORE HERBICIDE FOR CORN.  WITH A UNIQUELY POWERFUL  FORMULATION OF PROVEN INGREDIENTS, RESICORE GIVES YOU EXTRAORDINARY POWER OVER WEEDS.  LEARN MORE AT POWEROVERWEEDS.COM.

PROFIT BRIEFING
CHIP FLORY MARKET RALLY RADIO. OUR GUESTS HERE TODAY CHIP LET'S LET'S JUST TALK ABOUT THE MOOD  HERE. COMMODITY CLASSIC I MEAN YOU'VE TALKED A LOT OF PRODUCERS. I'VE TALKED A LOT OF FARMERS  WHAT DO YOU THINK THAT ATTITUDE IS RIGHT NOW YOU KNOW AS WE GEARED UP TO GET READY FOR  COMMODITY CLASSIC THERE 'S BEEN ALL KINDS TALK ABOUT THE ANXIETY LEVEL. OVER TIGHT CASH FLOWS IN  EVERY THING AND I DON'T THINK THAT THERE 'S ANY QUESTION THAT GUYS ARE STILL A LITTLE ANXIOUS RIGHT  OVER THAT BUT WHAT I'M PICKING UP DOWN HERE 'S JUST KIND OF A SENSE OF RELIEF MORE THAN  ANYTHING ELSE. YOU KNOW A YEAR AGO RIGHT NOW IF WE WERE TALKING ABOUT PROJECTING OUT TO WHAT  THE ATTITUDE WAS GOING TO BE WE WERE TALKING ABOUT A REALLY DIRE TIMES BECAUSE BEAN PRICE ON  ON THE REVENUE PROTECTION POLICY WAS A BUCK THIRTY BUCK FORTY UNDER WHAT IT 'S GOING TO BE FOR  TWENTY SEVENTEEN WE'VE GOT A SPRING PRICE ON CORN THAT 'S ABOUT A DIME HIGHER THAN WHAT IT  WAS A YEAR AGO SO I THINK THERE 'S MORE A SENSE OF RELIEF THAT THINGS AREN'T QUITE AS BAD AS  WHAT THEY THOUGHT WAS GOING TO BE THE QUESTION IS DOES THAT CHANGE THE WAY THAT THEY  MARKET THIS CROP GOING THROUGHOUT THIS YEAR IT GET BETTER NOT IT BETTER NOT EXPLAIN THAT. YOU  KNOW WHEN YOU WHEN YOU FEEL THAT SENSE OF RELIEF SOMETIMES YOU GET A LITTLE COMFORTABLE  WITH THE WAY THAT YOU'RE DOING THINGS AND WHEN YOU'RE COMFORTABLE WITH YOUR MARKETING THAT  'S WHEN YOU BETTER REEVALUATE AND MAKE SURE THAT YOU'RE DOING AS MUCH AS YOU POSSIBLY CAN  MAKE SURE THAT YOU'RE ON TOP OF EVERYTHING THAT 'S GOING TO IMPACT YOUR MARKETING DECISIONS  START WITH THE BASIS YOU GOTTA KNOW WHAT YOUR BASIS IS ONCE YOU KNOW THAT THEN YOU CAN  DETERMINE IS NOW GOING TO BE THE RIGHT TIME TO LOCK IN THAT BASIS IS LEAVE IT OPEN BUT WHEN  YOU LOOK AT YOUR BEAN PRICING OPPORTUNITIES RIGHT NOW WE NEED TO BE WE NEED TO GET STARTED  DON'T GET CRAZY BUT GET STARTED ON YOUR NEW CROP MARKETINGS ON CORN LET 'S RESPECT THE  SEASONAL'S IN HERE THERE'S GONNA BE SOME VOLATILITY THIS SPRING WE SHOULD GET IN OPPORTUNITIES  SELL BETTER IN THE NEXT THREE FOUR WEEKS THAN WHAT WE'VE GOT RIGHT NOW ALL RIGHT SO SOME CHANCES TO TO MAYBE MAKE THIS YEAR TAKE A LITTLE BIT OF THAT PRESSURE OFF BUT BOY WE GOT A RIDE  IT THROUGH I ABSOLUTELY AND PAY ATTENTION HAVE YOUR TARGETS IN PLACE ALL RIGHT APPRECIATE YOU  BEING THERE FOR THE INSIGHTS WILL BE BACK WITH MORE ON THIS SPECIAL EDITION OF AGDAY IN JUST A  MINUTE HERE'S YOUR CHANCE TO WIN A DREAM SPORTS TRIP, PLUS A $10,000 DONATION FOR A COMMUNITY  SPACE.  TEXT DREAM TO 31313 TO ENTER TODAY.

WILDFIRE COVERAGE
WELCOME BACK TO AGDAY WE'RE BREAKING AWAY FROM OUR COVERAGE OF COMMODITY CLASSIC AS WE CONTINUE TO MONITOR THE DEVASTATION IN THE HEARTLAND CAUSED BY WILDFIRES. FOCUS HAS TURNED TO HELP FOR FARMERS AND RANCHERS WHO WERE HIT BY THE RELENTLESS FIRES IN KANSAS OKLAHOMA TEXAS AND COLORADO. NO OFFICIAL COUNT HAS BEEN RELEASED BUT THERE IS SOME EVIDENCE THAT CATTLE LOSSES IN THE FOUR STATES WILL CLIMB INTO THE THOUSANDS. RELIEF EFFORTS ARE NOW UNDERWAY. OUR PARTNERS AT DROVERS ARE COMPILING THOSE EFFORTS. IF YOU WISH TO DONATE GO TO AGWEB DOT COM FORWARD SLASH WILDFIRES. AND AS WE TAKE A LOOK AT THE DROUGHT MONITOR YOU CAN SEE RIGHT WHERE WE'RE SEEING VERY DRY CONDITIONS AND SOME OF THESE AREAS THAT HAVE REALLY BEEN HIT BY SOME OF THESE WILDFIRES KANSAS OKLAHOMA TEXAS AND COLORADO. WE'VE SEEN THE DROUGHT EXPANDING THEIR OVER THE PAST SEVERAL WEEKS AND ALSO IN PARTS OF THE EASTERN UNITED STATES. WE CONTINUE TO SEE THE DROUGHT LESSON IN THE SOUTHWESTERN UNITED STATES.

WEATHER
ALRIGHT LET 'S HEAD TO THE MAPS FOR TODAY WE ARE LOOKING AT SOME STORMY WEATHER IN THE EAST. WE'VE GOT SOME RAIN AND SOME SNOW AS YOU GET INTO THE MID ATLANTIC STATES. WE ALSO HAVE MORE UNSETTLED WEATHER IN THE PACIFIC NORTHWEST AND INTO PARTS OF THE NORTHERN PLAINS AS WELL AS WE'RE GONNA SEE SOME SNOW MOVING THROUGH THE NORTHERN PLAINS. THIS WHOLE SYSTEM MOVES OFF TO THE EAST MAYBE A LITTLE BIT OF SNOW ON THE BACKSIDE OF THAT ESPECIALLY LITTLE BIT OF LAKE RESPONSE. THERE SOME SHOWERS MAYBE SOME RUMBLES OF THUNDER IN TEXAS WILL CONTINUE TO WATCH THIS FRONT RIGHT REALLY NOT MAKING A WHOLE LOT OF MOVEMENT AND WILL CONTINUE WITH SOME RAIN AND ESPECIALLY SNOW WITH SOME VERY COLD AIR IN PLACE AS WE HEAD INTO THE WEEKEND AND AS WE FINISH OFF OUR SATURDAY WE'RE GONNA SEE THAT SNOW START TO PUSH INTO PARTS OF THE NATION 'S MIDSECTION GETTING DOWN INTO THE TENNESSEE OHIO VALLEY LOOK FOR RAIN AND SNOW DOWN THAT WAY HERE 'S A LOOK AT THE PRECIPITATION ESTIMATE THE PAST TWENTY FOUR HOURS HAS BEEN WITH THE LOW PRESSURE SYSTEM IN THE SOUTHEAST. ALSO IN THE NORTHWEST AND YOU'LL SEE THAT RAIN EXPANDING IN PARTS OF TEXAS AS WELL. THERE 'S THAT SECOND SYSTEM THEN ALSO COMING INTO PARTS OF THE TENNESSEE AND OHIO VALLEY. SNOW ESTIMATES SPECIALLY FOR THE NORTHWESTERN UNITED STATES. YOU CAN SEE WE ADD THAT ON INTO PARTS OF PENNSYLVANIA AS WELL IN TO SEE THAT SYSTEM STRETCHING RIGHT NOW INTO THE CORN BELT AS FAR AS TEMPERATURES HIGH TEMPERATURES TODAY MUCH COLDER AS WE SEE IN SINGLE DIGITS TO TEENS IN THE FAR NORTHERN UNITED STATES WE'RE GONNA SEE A LOT OF SEVENTIES EVEN TO EIGHTIES IN THE SOUTH SO A HUGE DIFFERENCE AS FAR AS THOSE TEMPERATURES ARE CONCERNED THAT 'S A LOOK AT YOUR NATIONAL FORECAST NOW LET 'S CHECK ON THE WEATHER WHERE YOU LIVE CASTLE ROCK WASHINGTON MOSTLY CLOUDY TODAY WITH SOME SHOWERS POSSIBLE AND A HIGH OF FIFTY ONE DEGREES RUSK TEXAS CLOUDY WITH SHOWERS AND THUNDERSTORMS AND HIGH OF SEVENTY FIVE AND HEADING OVER TO COURTLAND NEW YORK MOSTLY CLOUDY WITH SOME SCATTERED SNOW SHOWERS AND A HIGH OF TWENTY EIGHT

TEASE
WE'LL CONTINUE THIS SPECIAL EDITION OF AGDAY FROM THE 2017 COMMODITY  CLASSIC IN JUST A COUPLE MINUTES. UP NEXT--LOOKING FOR VALUE BEYOND THE BEAN. UP NEXT-- ONE OF THE NATION'S LARGEST DDG PRODUCERS AND SHIPPERS  SAYS A TRADE DISPUTE IS ALREADY HURTING BUSINESS. AND LATER, THE LONE STAR STATE DOES NOT DISAPPOINT.  A LITTLE FUN FROM  THE FLOOR AS FARMERS PREPARE FOR PLANTING. AGDAY – BROUGHT TO YOU BY THE DEPENDABLE, LONG-LASTING CHEVY SILVERADO.

DRIVING VALUE FOR SOYBEAN GROWERS
SOYBEANS HAVE SHOCKED AND SURPRISED MANY OVER THE PAST FEW YEARS. PARTLY FROM YIELD IMPROVEMENT, PARTLY FROM ACREAGE GROWTH-- NOW  INDUSTRY LEADERS ARE LOOKING TOWARD THE FUTURE--SEARCHING FOR A WAY  TO CONTINUE TO DRIVE VALUE FOR GROWERS BASED ON QUALITY. THERE ARE PLENTY OF INCENTIVES FOR FARMERS LIKE JOHN KENNAY TO PLANT  MORE SOYBEANS. I SWITCHED ABOUT 30 PERCENT OF MY ACRES TO BEANS. THAT'S STRICTLY DRIVEN BY THE  BOARD OF TRADE. GOOD PRICES AND BIG YIELDS ARE HELPING TO DRIVE PLANTED ACRES. HEARING REPORTS OF 70 OR 75 BUSHEL YIELDS ACROSS SOME OF THEIR FARMS ARE ABSOLUTELY AMAZING.  IN 1975 U.S. FARMERS PUT IN ROUGHLY 50 MILLION ACRES OF BEANS. THIS YEAR  THE FORECAST CALLS FOR 88 MILLION. WE SEE THE GROWING AREA EXPANDING. WE SEE THE VOLUME EXPANDING.OHIO FARMER AND CHAIR OF THE UNITED SOYBEAN BOARD, JOHN MOTTER SAYS  IN THE LAST SIX TO SEVEN YEARS THERE'S BEEN ROUGHLY A 30 PERCENT  GROWTH IN THE VOLUME OF THE U.S. CROP. I SELL THOSE BEANS BY VOLUME BUT THEY BUY IT WHAT'S INSIDE OF THE BEAN. HE'S TALKING ABOUT THE END USER--THOSE BUYING BEANS FOR PROTEIN AND  OIL. IF MY NEIGHBOR HAS LOWER PROTEIN OR OIL CONTENT  WE'RE BOTH SELLING BY THE BUSHEL. IT'S A BUSHEL GAME. IT'S A VOLUME GAMEHOWEVER, SINCE ROUGHLY 1995, PROTEIN PER ACRE HAS GONE UP ALONG WITH  YIELDS, BUT THE PERCENTAGE OF PROTEIN IN BEANS HAS FALLEN. MOTTER SAYS  THE SOYBEAN INDUSTRY IS AWARE AND IT'S LOOKING AT NEW PRICING MODELS  TO HELP BUILD INCENTIVE FOR BETTER BEANS. YOU KNOW THESE DAYS WE LOOK AT ALL OF THIS CROP AND HOW DO WE GET A BETTER REWARD.   CAN WE GET PAID FOR THE QUALITY OF THAT CROP RATHER THAN THE QUANTITY OF THAT CROP. THAT MEANS DEVISING A PRICING SYSTEM THAT PAYS MORE FOR HIGHER  PROTEIN OR MORE OIL. THE SOYBEAN INDUSTRY IS ALREADY WORKING ON  TECHNOLOGY FOR DELIVERY POINTS THAT COULD QUICKLY TEST FOR THOSE  COMPONENTS.ITS NOT SOMETHING THAT'S GOING TO HAPPEN  TOMORROW. MORE WORK IS NEEDED BUT MOTTER SAYS ITS TIME TO STARTING ASKING NEW  QUESTIONS AT SEEDING TIME...WHAT IS THE OIL CONTENT OF THIS SEED HOW MUCH PROTEIN DOES IT HAVE WHAT'S THE AMINO  ACID CONTENT OF THAT PARTICULAR VARIETY. A CONVERSATION THEY HOPE WILL LEAD TO BETTER BEANS, HIGHER PRICES,  AND IMPROVED PERFORMANCE FROM ONE FARM, TO ANOTHER.

TEASE
OKAY WE'LL FINISH UP THIS SPECIAL EDITION OF AGDAY FROM THE TRADE SHOW  FLOOR....NEXT. GET THE ROOTS YOUR CROPS NEED, BY GETTING RADIATE FIRST.  VISIT LOVELAND PRODUCTS.COM  SLASH RADIATE.  SEE YOUR CPS DEALER TODAY.

IN THE COUNTRY
IN THE COUNTRY - BROUGHT TO YOU BY KUBOTA.  SEE THE ALL-NEW KOMMANDER-PRO ZERO-TURN  MOWER AT KUBOTA.COM. ONE OF THE KEYS TO THE SORGHUM INDUSTRY IS FINDING NEW DEMAND AND  ONE OF THOSE NEWE SOURCES OF DEMAND MIGHT JUST BE THE AMERICAN  CONSUMER. 90-PERCENT OF U-S GROWN SORGHUM IS SPOKEN FOR - THRU EXPORTS,  ETHANOL AND LIVESTOCK. THE REMAINING TEN PERCENT GOES TO "OTHER"  SUCH AS PET FOOD. BUT A GROWING AMOUNT IS GOING TO HUMAN FOOD. HERE AT COMMODITY CLASSIC, THE UNITED SORGHUM CHECKOFF WAS HANDING  OUT A SALSA-LIKE DIP MADE WITH SORGHUM...AS THE GRAIN FINDS MORE  ACCEPTANCE AT RESTAURANTS AND SUPERMARKETS. SORGHUM HAS BEEN AROUND ....  THAT OPTION. LOPEZ SAYS THE SORGHUM INDUSTRY HAS ENJOYED DEMAND-GROWTH THE  PAST THREE YEARS - MUCH OF IT GOING TO CHINA. HE SAYS MEXICO ALSO HOLDS A STRONG POSITION. MEANWHILE - THE ICONIC TONY THE TIGER WAS GREETING FOLKS AT COMMODITY  CLASSIC.  HE WAS AT THE SOIL HEALTH PARTNERSHIP BOOTH TO PROMOTE  KELLOGG'S SUSTAINABILITY INITIATIVES. HE'S CELEBRATING FARMERS WHO GROW THE INGREDIENTS FOR THE LINE-UP OF  KELLOGG BRANDS. LIKE FROSTED FLAKES. KELLOGGS IS TRING TO REINFORCE ITS CONSERVATION GOALS AND OUTCOMES. WE KNOW .... AMPLIFY THAT. BRAUN AND HER TEAM WERE PROMOTING KELLOGG'S 'OPEN FOR BREAKFAST'  CAMPAIGN. IT'S AN ONLINE TOOL TO REACH OUT TO CONSUMERS ABOUT WHERE  THEIR FOOD COMES FROM.  KELLOGGS SEES IT'S ROLE TO BRIDGE CONSUMERS  TO FARMERS.

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 GOOD DAYTHIS SPECIAL EDITION FROM THE 2017 COMMODITY CLASSIC IS BROUGHT TO YOU EXCLUSIVELY BY  FARMERS EDGE.  FOR THE LATEST IN MAKING SENSE OF YOUR DATA, VISIT GROWYOURRETURNS.COM.

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