AgDay Daily Recap - August 9, 2011

August 9, 2011 02:52 AM
 

TODAY ON AGDAY:
AUGUST 9, 2011

USDA REPORT:
GOOD MORNING EVERYONE. CLINTON IS ON ASSIGNMENT. IT'S STILL TWO DAYS AWAY BEFORE USDA RELEASES A KEY PRODUCTION REPORT AND YET THAT'S A POPULAR TOPIC FOR PRODUCERS AND MARKETERS. WITH THE WET SPRING AND NOW THE HOT SUMMER, THERE'S NO SHORTAGE OF OPINIONS ABOUT WHERE THE CROPS WILL END-UP THIS YEAR. THE AUGUST 11 CROP PRODUCTION REPORT WILL INCLUDE USDA'S UPDATE ON PLANTED ACREAGE NUMBERS FOR MONTANA, MINNESOTA, NORTH DAKOTA, AND SOUTH DAKOTA. PLANTING IN THOSE STATES WAS SO LATE THAT THE AG DEPARTMENT SAID IT NEEDED TO RESURVEY THE REGION. BEYOND THE RE-COUNT, THE NUMBERS MANY PEOPLE WILL KEY-ON ARE THE YIELD ESTIMATE, ESPECIALLY IN CORN AND SOYBEANS.  THIS REPORT IS THE FIRST FIELD-SURVEY-BASED ESTIMATE OF THE YEAR, AND THE HARVESTED ACREAGE ESTIMATE. SOME IN THE INDUSTRY FELT THE JULY NUMBERS WERE TOO OPTIMISTIC IN LIGHT OF THE MAJOR FLOODING ALONG THE MISSISSIPPI AND MISSOURI RIVERS.

CROP PROGRESS:
NOW TO MONDAY'S CROP PROGRESS REPORT. USDA SAYS 61% OF THE SOY CROP IS CALLED GOOD TO EXCELLENT. THAT'S A ONE POINT IMPROVEMENT OVER LAST WEEK. 87% IS BLOOMING, UP TEN FROM LAST WEEK. THAT'S JUST TWO POINTS OFF AVERAGE PACE. HOWEVER ONLY 51% IS SETTING PODS. THAT'S 12 POINTS BEHIND AVERAGE. ONTO CORN. USDA LOWERED THE CROP RATING BY TWO POINTS, DOWN TO 60% GOOD TO EXCELLENT. IN THE EASTERN CORN BELT, JUST HALF OF THE ILLINOIS AND OHIO CROPS REACH THAT LEVEL. IN INDIANA, 43% IS GOOD TO EXCELLENT. THE WESTERN CORN CONTINUES TO LEAD IN THE CONDITION RATING...IOWA, NEBRASKA AND MINNESOTA ALL HAVE CORN RATINGS IN THE MID-70'S. LET'S CHECK OUT COTTON. 30% IS GOOD TO EXCELLENT, HOLDING STEADY FROM LAST WEEK. BOLLS ARE STARTING TO OPEN. 30% IN ARIZONA AND 24% IN LOUISIANA. BOTH OF THOSE ARE WELL AHEAD OF THE AVERAGE PACE. WINTER WHEAT HAS NOW REACHED 85% COMPLETE. IT'S USUALLY AROUND 90%. IDAHO IS HAVING A DIFFICULT TIME STARTING HARVEST. JUST 8% IS CUT. THAT'S 26 POINTS BEHIND. OREGON IS 45-POINTS BEHIND. THERE ARE ALSO BIG DELAYS IN WASINGTON AND MONTANA.

MICHELLE ANALYSIS:
WHILE AT MINNESOTA'S FARM FEST LAST WEEK, REGIONAL REPORTER MICHELLE ROOK TALKED WITH GRAIN TRADER MARK SCHULTZ OF NORTHSTAR COMMODITY ABOUT HIS ANTICIPATIONS OF THE CROP AND THIS UPCOMING REPORT. THANKS MICHELLE. WE'LL RETURN TO FARM FEST LATER IN THE SHOW WHERE MICHELLE WILL DISCUSS THE HOG MARKET WITH MARK SCHULTZ FROM NORTHSTAR COMMODITY.

REPORT PROMO:
USDA WILL RELEASE THE REPORTS THIS THURSDAY MORNING AT SEVEN-30 CENTRAL, EIGHT-30 EASTERN. YOU'LL BE ABLE TO ACCESS THE REPORTS IMMEDIATELY ON www.agweb.com. PLUS THERE'LL BE ANALYSIS THROUGH-OUT THE MORNING. AND BEFORE THE RELEASE OF THE REPORT, CHECK OUT AGWEB TODAY FOR ITS INTERVIEW WITH A KEY MEMBER OF THE "NASS" TEAM WHO WILL TALK ABOUT THE UPCOMING REPORT.

DAIRY TODAY REPORT; RECORD PRICE:
LEADING OUR DAIRY TODAY REPORT - THE RISING PRODUCER PRICE FOR MILK. USDA ANNOUNCED THE JULY CLASS-THREE MINIMUM PRICE AT 21-39 PER HUNDREDWEIGHT. ACCORDING TO OUR REPORTING PARTNERS AT DAIRY TODAY, THAT LEVEL BREAKS THE RECORD BY A PENNY SET IN JULY 2007. THE JULY CLASS-THREE PRICE IS UP $2.28 OVER JUNE. THE AUGUST CLASS ONE PRICE IS $21.43.

DAIRY TODAY REPORT; CRP GRAZING:
MEANWHILE USDA'S FARM SERVICE AGENCY IS MODIFYING ITS CONSERVATION RESERVE PROGRAM POLICIES TO HELP PRODUCERS WHO ARE FEELING THE LONG-LASTING AFFECTS OF DROUGHT. THE POLICY CHANGES INFLUENCE FSA RULES GOVERNING EMERGENCY GRAZING. THE PERIOD NORMALLY ALLOWED FOR EMERGENCY GRAZING LASTS THROUGH SEPTEMBER 30TH. NOW FSA IS PERMITTING FARMERS AND RANCHERS IN DROUGHT STRICKEN STATES - WHO HAVE BEEN APPROVED FOR EMERGENCY GRAZING - TO USE THE LAND UNTIL OCTOBER 31ST WITHOUT AN ADDITIONAL PAYMENT REDUCTION. PRODUCERS IN COLORADO, KANSAS, NEW MEXICO, OKLAHOMA AND TEXAS ARE INCLUDED IN THAT LIST. PRODUCERS WISHING TO PARTICIPATE IN EMERGENCY GRAZING MUST FIRST REQUEST PERMISSION FROM THE FSA COUNTY OFFICE. ALSO, FSA WILL ALLOW PRODUCERS NATIONWIDE TO UTILIZE HARVESTED HAY FROM EXPIRING CRP ACRES WHEN THOSE ACRES ARE BEING PREPARED FOR FALL SEEDED CROPS. AND DON'T FORGET, FOR THE VERY LATEST NEWS AFFECTING THE DAIRY INDUSTRY, INCLUDING PRODUCTION AND POLICY ISSUES, CHECK OUT WWW.DAIRYTODAY.COM.

GOLD:
IN AGRIBUSINESS A MASSIVE SELLOFF ON WALLSTREET AFTER RATING FIRM S&P DOWN GRADED THE U.S. BOND RATING. THAT SENT INVESTORS LOOKING FOR A SAFE-HAVEN. GOLD PASSED 1,700 DOLLARS AN OUNCE FOR THE FIRST TIME EVER. THE PRECIOUS METAL HAS NEARLY DOUBLED SINCE EARLY 2009. HOWEVER, IF ADJUSTED FOR INFLATION IT'S STILL BELOW THE 1980 PEAK WHICH HIT 850 DOLLARS...IN TODAY'S MONEY THAT WOULD BE A WOPPING 2,400 PER OUNCE.

DUPONT IMPRELIS:
LAST WEEK WE TOLD YOU ABOUT A CLASS ACTION LAWSUIT FILED AGAINST DUPONT FOR ITS WEED KILLER IMPRELIS. THERE ARE COMPLAINTS THE HERBICIDE IS KILLING EVERGREEN TREES ACROSS THE MIDWEST. NOW DUPONT SAYS IT WILL VOLUNTARILY STOP THE SALE OF IMPRELIS. THE EPA ACKNOWLEDGED THE COMPANY'S OFFER. IT THINKS DUPONT MAY HAVE MISBRANDED THE HERBICIDE BECAUSE LABEL DIRECTIONS AND WARNINGS ARE QUOTE...."INADEQUATE TO PROTECT NON-TARGET PLANT SPECIES FROM BEING HARMED BY THE WEED KILLER."

ANALYSIS:
MARK SCHULZ

IN THE COUNTRY; CANCER HOUSE:
THERE ARE NUMEROUS THINGS YOU CAN DO TO REDUCE YOUR RISK OF GETTING CANCER. USUALLY THOSE THINGS HAVE TO DO WITH YOUR BODY, LIKE EXERCISE. BUT WHAT ABOUT 'WHERE' YOU LIVE? HOW MUCH OF A ROLE DOES YOUR HOME PLAY IN THE RISK OF GETTING THAT DISEASE? IN THIS REPORT FROM JAMES CANCER HOSPITAL AT OHIO STATE, CLARK POWELL TAKES US ON A TOUR OF A CANCER-FIGHTING HOME - ONE OF THE FIRST IN THE NATION! CLARK SAYS YOU CAN PUT SIMILAR AIR AND WATER FILTRATION SYSTEMS IN YOUR HOUSE.  AND IF YOU REMODEL, LOOK FOR CARPETS AND PAINTS WITH LOWER LEVELS OF DANGEROUS CHEMICALS. BY THE WAY, THE "CANCER-FIGHTING" HOUSE WAS AUCTIONED OFF FOR $400,000, THAT MONEY BENEFITS CANCER RESEARCH AT THE HOSPITAL. FOOD AND YOUR FAMILY IS NEXT.

MINNESOTA ANIBIOTIC:
THE UNIVERSITY OF MINNESOTA SAYS IT’S GOT EXCITING NEWS IN THE PREVENTION OF FOOD-BORN ILLNES. IN TODAY'S FOOD AND YOUR FAMILY RESEARCHERS SAY THEY'VE DISCOVERED A NATURALLLY-OCCURING "LAN-TIE-BIOTIC" THAT KILLS SALMONELLA, E COLI AND LISTERIA WHEN IT’S ADDED TO FOOD. A LAN-TIE-BIOTIC IS A PEPTIDE THAT'S PRODUCED BY HARMLESS BACTERIA. ACCORDING TO THE UNIVERSITY IT'S THE FIRST NATURAL PRESERVATIVE THAT CAN KILL THESE ILLNESS CAUSING BACTERIA AND PROTECT THE FOOD PEOPLE EAT.
THEY SAY IT COULD HELP KEEP THINGS LIKE MEATS, CHEESE, EGGS, DAIRY PRODUCTS, CANNED FOOD, SEAFOOD EVEN FERMENTED BEVERAGES SAFE FROM FOOD-BORN DISEASES. THE TECHNOLOGY IS SO NEW, U OF M HAS RECEIVED A PATENT FOR THE PRESERVATIVE.

IN THE COUNTRY; SCHOOL SUPPLIES:
HERE IT IS - AUGUST. FOR SCHOOL KIDS, THEY SEE SUMMER VACATION WINDING DOWN AND A NEW SCHOOL YEAR RIGHT AROUND THE CORNER. FOR PARENTS, THEY SEE THE EXPENSE OF BACK TO SCHOOL SHOPPING. UNFORTUNATELY, IT APPEARS FAMILIES CAN EXPECT TO SPEND UP TO 25% MORE THIS YEAR TO FILL THEIR CHILDREN'S BACKPACKS. THAT'S ACCORDING TO THE 2011 HUNTINGTON BACKPACK INDEX DEVELOPED BY THE HUNTINGTON BANKING CHAIN. THAT BANK SERVES PARTS OF THE EASTERN CORNBELT AND THE SOUTH. THE BANK HAS CONDUCTED THE SURVEY FOR SIX YEARS - AND THIS IS BY FAR THE LARGEST YEARLY INCREASE THEY'VE SEEN. HUNTINGTON BANK SAYS ELEMENTARY COSTS ARE UP 12% FROM LAST YEAR, MIDDLE SCHOOL COSTS ARE UP A WHOPPING 25%. AND HIGH SCHOOL COSTS ARE UP 9%. THE AVERAGE COST IN HIGH SCHOOL STARTS AT ABOUT A THOUSAND DOLLARS. THE HIKE IS DUE TO HEFTY INCREASES IN "PAY-TO-PLAY" FEES FOR SPORTS TEAMS AND OTHER EXTRA-CURRICULAR ACTIVITIES.

CONTACT PAGE:
WE'D LOVE TO HEAR FROM YOU! CONTACT US AT 800-792-4329. OR DROP AN EMAIL TO INBOX@AGDAY.COM. YOU CAN ALSO CHECK US OUT ON SOME OF THAT NEW TECHNOLOGY, AT WWW.FACEBOOK.COM/AGDAY.
 

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