AgDay Daily Recap - December 12, 2011

December 12, 2011 09:46 AM
 

TODAY ON AGDAY
DECEMBER 12, 2011

WASDE REPORT:
Good morning. The government surprised the market a bit Friday when it increased its projection for U.S. corn supplies. It also said global corn production could a new high in 2012 due to stronger crops in Canada, China and Europe. USDA says domestic corn stockpiles at the end of the 2011-12 marketing year in august are expected to total 848 million bushels. That's up about six-tenths of a point. Not a big gain, but it's in contrast to what market expectations were of some of the top commodity firms in the country. USDA says it sees slightly lower food, seed and industrial use. Ending stocks for soybeans was projected at 230 million bushels. And 878 million bushels for wheat.

PRO FARMER REAX:
For U.S. producers, farm price estimates for 2012 were lowered 20 cents in corn, 90 cents for beans, and 50 cents for wheat. We have in-depth analysis of the supply-demand report. And we begin with pro farmer managing editor Brian Grete.

OSU MATT ROBERTS:
Thanks Brian. So, for the most part it appears demand for U.S. grain is weaker than even just a few months ago. What does that mean for grain producers as we head into 2012? As we continue our team coverage of supply-demand report, we hear from Ohio State University Ag Economist Matt Roberts.

MISSOURI DROUGHT:
Although U.S. farmers harvested the fourth-largest corn crop ever in 2011, the bushels per acre planted didn't quite measure up. Blame it on the wet spring and summer dryness. For instance, Missouri's average corn yields dropped to 115 bushels an acre, compared to last year's 123 bushels. The soybean yield saw a similar decline - down nearly five bushels an acre. So as we settle in for winter, Missouri crop farmers are hoping it's a wet and snowy one. Kent Faddis has details in this report provided by the University of Missouri Extension.


ANALYSIS:
Mike Florez

IN THE COUNTRY; FORESTRY:
There's nothing like the aromatic smell of a fresh cut Christmas tree to remind the soul of America's forests. In Mississippi, forestry is the state's second largest agricultural industry. Yet it's not a business making its mark on the minds of the state's young people. Mississippi State hopes to fill that void by teaching kids how forests and the wood their made of shape everyday life. Thanks Amy. The U.S. Forestry Industry has felt immense pressure in the last few decades from global competitors. We'll talk specialty menu's next in Food and Your Family.

RESTAURANT TRENDS:
In Food and Your Family, if you're a farmer and you're looking for a new market for your produce or meat products, you may not need to look any farther than a local restaurant. The national restaurant association just released its "hot trends for 2012". Topping the list is locally sourced meats and seafood. And right behind is locally grown produce. The NRA surveyed nearly 1,800 professional chefs. The results show that children's nutrition and local sourcing of ingredients will be the hottest trends on restaurant menus this coming year. The association says the menu trends seem to reflect societal trends - such as healthful eating.

GLUTEN FREE:
By the way, gluten-free and allergy-conscious menus are number seven on the NRA's hot trends list. Research group -- Technomic is out with new data confirming that trend. If found more restaurants are rolling out gluten free menu items as a greater number of people are sticking to a controlled diet.  Gluten free foods are up more than 60% on American menus. That trend isn't just in gluten, it’s also for things like cholesterol free, low-fat and no sugar. Restaurants are trying to be transparent with their menu's and more consumers demand it. Technomic found almost three quarters of customers want to know what's in their food including fat, sodium, sugar and potential allergens. That's all the time we have this morning. We're glad you tuned in.

 

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