AgDay Daily Recap - February 23, 2011

February 23, 2011 04:02 AM
 

TODAY ON AGDAY:
FEBRUARY 23, 2011

OIL AND GRAIN PRICES:
STOCKS DROPPED TUESDAY WHILE OIL PRICES HAVE SPIKED. INVESTORS ARE REACTING NEGATIVELY ABOUT INCREASINGLY VIOLENT PROTESTS IN LIBYA. AND THE AFTERSHOCKS ARE ALSO BEING FELT IN THE COMMODITY MARKETS. OIL PRICES REACHED THEIR HIGHEST LEVELS SINCE OCTOBER 2008. THERE ARE FEARS LIBYA'S OIL PRODUCTION COULD BE IMPACTED BY RIOTING. THAT COUNTRY ACCOUNTS FOR 2% OF GLOBAL DAILY OUTPUT. INCREASES IN OIL FUTURES CAN HAVE A DIRECT CONNECTION TO AGRICULTURE INPUT COSTS. ECONOMIST PARR ROSSON, FROM TEXAS AGRI-LIFE EXTENSION, SAYS THE UN-REST IN NORTH AFRICA MAKES U.S. "MANUFACTURING, AND AGRICULTURAL INDUSTRY IN PARTICULAR, VULNERABLE BECAUSE OF ENERGY COSTS".

GRAIN PRICES:
THE MAJOR GRAINS ALL TOOK A BIG DIVE ON TUESDAY. LIMIT-DOWN ON CORN, SOYBEANS, RICE AND WHEAT. COTTON ALSO TUMBLED. PROFARMER EDITOR CHIP FLORY HAS DETAILS.

EQUIPMENT EXPORTS:
IN MACHINERY MINUTE U.S. EXPORTS OF AG-RELATED MACHINERY TOTALED NEARLY NINE BILLION DOLLARS IN 2010. THE ASSOCIATION OF EQUIPMENT MANUFACTURERS SAYS THAT'S A GAIN OF MORE THAN 12% FROM ‘09. AEM SAYS THIS INCREASE IN EXPORTS IS ENCOURAGING AFTER 2009 DECLINES OF MORE THAN 20%. SOUTH AND CENTRAL AMERICA RECORDED THE STRONGEST GAINS. FARM EQUIPMENT EXPORTS TO SOUTH AMERICA GREW 59% WITH PURCHASES TOTALING 970 MILLION. CANADA REMAINS THE TOP COUNTRY BUYING U.S. MADE FARM MACHINERY AT MORE THAN THREE BILLION DOLLARS.

SALES MODEL:
AS FAR AS DOMESTIC SALES, IF YOU WANT TO BUY A NEW COMBINE OR COTTON PICKER, CHANCES ARE YOU'RE GOING TO WAIT A VERY LONG TIME. GONE ARE THE DAYS WHEN YOU COULD DRIVE TO YOUR FAVORITE EQUIPMENT DEALER AND SELECT THE MACHINE. AT THE NATIONAL FARM MACHINERY SHOW, I TALKED WITH THE VICE PRESIDENT OF MARKETING FOR AGCO ABOUT THE CHANGE IN THE SALES MODEL.  GRIFFIN TOLD ME CUSTOMERS ARE HAVING TO MAKE A COMMITTMENT MUCH EARLIER THAN IN THE PAST, OTHERWISE THEY RISK SOMEONE ELSE MOVING AHEAD OF THEM IN-LINE, SO TO SPEAK.

SORGHUM CHECKOFF:
VOTING IS NOW OPEN FOR RENEWAL OF THE NATIONAL SORGHUM CHECKOFF. THE PROGRAM BEGAN IN 2008. UNDER USDA REQUIREMENTS, GROWERS MUST VOTE AGAIN TO CONTINUE THE PROGRAM. AGDAY'S ERICA GOSS TALKED WITH CHECKOFF LEADERSHIP ABOUT THE ACCOMPLISHMENTS MADE DURING THE TWO YEARS. MORE DETAILS CAN BE FOUND ONLINE AT WWW.VOTEYESSORGHUM.COM . AGAIN, BALLOTS MUST BE CAST BY NEXT MONDAY.

ANALYSIS:
BOB UTTERBACK

IN THE COUNTRY; YOGA:
MANY OF US HAVE A LOT OF STRESS IN OUR LIVES - FAMILY, FINANCES, WORK - THE LIST GOES ON-AND-ON. SO HERE'S A PIECE OF ADVICE. TAKE A DEEP BREATH AND RELAX FOR THIS NEXT STORY. IN THIS REPORT FROM THE UNIVERSITY OF MISSOURI, KENT FADDIS TELLS US HOW "YOGA" MAY OVER SOME BADLY-NEEDED HEALTH BENEFITS. THANKS KENT. ANOTHER REASON TO ADD FIBER TO YOUR DIET. IT COULD BE A LIFE-SAVER. THAT'S NEXT.

FIBER AND CARDIO:
NEW RESEARCH SAYS EATING MORE FIBER FROM GRAIN MAY SAVE YOUR LIFE. DETAILS IN FOOD AND YOUR FAMILY. RESEARCHERS AT THE NATIONAL CANCER INSTITUTE IN MARYLAND ARE STUDYING THE IMPACT OF FIBER IN YOUR DIET. THEY WANT TO KNOW IF IT'LL HELP REDUCE YOUR RISK FOR CARDIOVASCULAR DISEASE. AND SO FAR, THEIR RESEARCH SHOWS A BIG DROP IN THE DEATH RATE. WWW.FOODNAVIGATOR.COM REPORTS THAT INCREASING FIBER INTAKE LOWERED CARDIOVASCULAR DISEASE IN MEN BY 24%. THERE WAS EVEN A BIGGER DROP IN WOMEN. THEY ALSO SAW IMPROVEMENT IN BATTLING RESPIRATORY DISEASES BY INCREASING FIBER FROM GRAIN.
 

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