AgDay Daily Recap - December 10, 2010

December 10, 2010 08:03 AM
 

TODAY ON AGDAY:
DECEMBER 10, 2010

S&D PREVIEW:
GOOD MORNING. THE MARKETS WILL BE WATCHING INTENTLY THIS MORNING WHEN USDA RELEASES ITS SUPPLY-DEMAND REPORTS AT 7:30 CENTRAL TIME. AS ALWAYS, YOU CAN ACCESS THOSE REPORTS IMMEDIATELY AT www.agweb.com . HERE'S WHAT THE MARKETING ANALYSTS AT PRO FARMER NEWSLETTER SAY WE SHOULD WATCH FROM THE REPORT. WITH NO CORN OR SOYBEAN CROP ESTIMATE THIS MONTH, FOCUS WILL BE ON THE DEMAND SIDE OF THE EQUATION. TRADERS EXPECT BIGGER ETHANOL GRIND FOR CORN AND INCREASED EXPORTS FOR SOYBEANS. ON THE WORLD FRONT, TRADERS WILL CLOSELY MONITOR WHEAT PRODUCTION AND STOCKS FIGURES, ESPECIALLY IN MAJOR PRODUCING COUNTRIES. IN SOUTH AMERICA, BEANS ARE TYPICALLY THE FOCAL POINT. BUT WITH GLOBAL CORN SUPPLIES TIGHTENING AND CORN FARING WORSE THAN BEANS BECAUSE OF DRYNESS, ARGENTINE AND BRAZILIAN CORN ESTIMATES MAY GET MORE ATTENTION THAN NORMAL. WE'LL ALSO BE GETTING A NEW U.S. COTTON CROP ESTIMATE. AND GET A SENSE OF CONTINUING COTTON DEMAND WHICH HAS SENT PRICES HIGHER IN RECENT MONTHS.

WHEAT OUTLOOK:
WEATHER PROBLEMS IN VARIOUS WHEAT-GROWING COUNTRIES SHOULD CONTINUE TO BRING HIGHER PRICES FOR PRODUCERS. AS WE SAID YESTERDAY, AUSTRALIA'S WHEAT CROP IS LOSING QUALITY BECAUSE OF RECENT RAINS. AS U.S. GROWERS WORK ON THEIR CROPPING PLANS FOR NEXT SEASON, AGDAY MARKETING ANALYSTS SAY ATTRACTIVE PRICES FOR WHEAT, CORN, SOYBEANS AND COTTON WILL CREATE AN ACREAGE BATTLE THIS SPRING. WHILE SOME SOUTHERN PRODUCERS WILL DOUBLE-CROP SOYBEANS AFTER WHEAT, SOME ANALYSTS SAY OTHERS WILL RETURN TO COTTON.

LSU WHEAT PLANTING:
LOUISIANA GROWERS FINISHED PLANTING THEIR WINTER WHEAT ACRES LAST MONTH. ACCORDING TO THE LSU AG-CENTER, PRODUCERS DOUBLED THE AMOUNT OF ACRES ACROSS THE STATE. TOBIE BLANCHARD HAS DETAILS IN THIS REPORT FROM LSU.

KOREA FTA:
IN OTHER NEWS, THE NATION'S LARGEST LABOR FEDERATION IS OPPOSING THE SOUTH KOREAN FREE TRADE DEAL. THE AFL-CIO SAYS IT DOESN'T DO ENOUGH TO ADDRESS CONCERNS ABOUT THE OUTSOURCING OF AMERICAN JOBS OR CURRENCY MANIPULATION. THIS IS A BREAK WITH THE UNITED AUTO WORKERS UNION, WHICH SUPPORTS THE PACT. INDUSTRY WATCHERS SAY THE AFL-CIO STANCE COULD COMPLICATE APPROVAL OF THE AGREEMENT. ORGANIZED LABOR HAS MANY DEMOCRATIC SUPPORTERS IN CONGRESS.

FLORIDA NUTRIENTS:
THE ENVIRONMENTAL PROTECTION AGENCY APPEARS TO HAVE A FIGHT ON ITS HANDS OVER NEW RULES TO REGULATE NITROGEN AND PHOSPHORUS USE IN FLORIDA. THE STATE OF FLORIDA AND THE FERTILIZER INSTITIUTE HAVE BOTH FILED LAWSUITS AGAINST THE EPA.  THE NEW RULES ARE THE RESULT OF A PREVIOUS LAWSUIT FILED BY THE FLORIDA WILDLIFE FEDERATION IN 2008. IT SOUGHT TO FORCE THE FEDERAL AGENCY TO SET POLLUTION STANDARDS FOR INLAND SURFACE WATERS...AND THE EPA DID. THE NEW LAWSUITS AGRUE THAT THE NEW RULE IS UNLAWFUL. ADDING THE NEW STANDARDS AREN'T BASED ON SOUND SCIENTIFIC RATIONALE AND STEPS ON FLORIDA'S AUTHORITY TO REGULATE ITS OWN WATERWAYS.

ANALYSIS:
GARY WILHELMI

IN THE COUNTRY; GINGERBREAD:
IT'S A TRADITION AS OLD AS THE COUNTRY ITSELF. HISTORY TELLS US GINGERBREAD HOUSES HAVE BEEN DECORATING AMERICAN HOMES SINCE THE 1700’S. TODAY ITS STILL AN IMPRESSIVE HOLIDAY CENTERPIECE AND A TRADTION EVEYONE CAN ENJOY..AS CHUCK DENNYE WITH UT INSTITUTE OF AG SHOWS US, 4-H'ERS IN ONE TENNESSEE COMMUNITY ARE BUILIDING THESE CANDIED HOUSES IN A FLURRY OF HOLIDAY CREATIVITY. THANKS CHUCK. IN FACT SOME OF THESE HOUSES WERE COMPETITION GRADE. A NUMBER OF THE 4-HERS ENTERED THEIR GINGERBREAD HOUSES IN THE GATLINBURG'S FESTIVAL OF TREES CELEBRATION. AND IF THAT'S NOT ENOUGH TO MAKE YOU HUNGRY...FOOD AND YOUR FAMILY IS NEXT.

FOOD SAFETY:
IN FOOD AND YOUR FAMILY, IT'S NOW UP TO THE U.S. SENATE TO RE-VOTE ON THE FOOD SAFETY BILL. THE HOUSE PASSED THE SENATE VERSION THIS WEEK, AS PART OF THE "CONTINUING RESOLUTION' WHICH FUNDS THE FEDERAL GOVERNMENT. AS YOU MAY REMEMBER, THE SENATE APPROVED VIRTUALLY THE SAME MEASURE LAST WEEK, BUT THEN LAWMAKERS REALIZED THAT SINCE IT CONTAINED A USER FEE, TECHNICALLY IT SHOULD HAVE ORIGINATED IN THE HOUSE. YOU REMEMBER THAT FROM HIGH SCHOOL GOVERNMENT- IM SURE.  THE ACT GIVES FDA MANDATORY RECALL AUTHORITY OF CONTAMINATED FOOD PRODUCTS. THE HOUSE PASSED IS ORIGINAL VERSION OF THE BILL 18 MONTHS AGO.

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

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