Good morning I’m Clinton Griffiths. Another passing week and rain showers continue to pass by much of the nation's midsection. In the hottest regions - already struggling from drought - crop conditions deteriorated quickly again this week. 80% of the 48 contiguous states are now under some form of drought. That's a nearly five point climb from the previous week. In the 18 primary corn-growing states, 30% of the crop is now in poor or very poor condition, up from 22% the previous week. The entire state of Missouri is under drought conditions. 10% is considered "extreme". It's centered in the southeast corner - known as the Boot heel. Now to the southwest corner of the state, the intensity isn't as severe. But it's no less devastating to crops. Thanks Steve. If they do harvest a crop, it'll be a month earlier.
FARM BILL UPDATE:
The 2012 Farm Bill is moving on to its next step. The House AG Committee approved its version 35-to-11 early Thursday morning. It now goes to the full House for its consideration.
Committee leaders say it will save 3.5 billion dollars for each of the next ten years. Most of those savings come at the expense of the food stamp program. The Senate version reduces spending by 23 billion. But cuts to food stamps are not as deep.
In other news - the bankruptcy filing of an Iowa-based futures brokerage is reminding many in the industry of the MF global meltdown.
Chip Flory and Brian Grete join us from our Profarmer studios in Cedar Falls, Iowa to explain some strategies. Thanks guys. And if you are a subscriber to the Profarmer newsletter - this is what you can expect when it gets delivered today. Chip and Brian will break down USDA's supply & demand report. They also have in-depth look at weather, crop conditions and impacts on your grain marketing plans. Plus, the team will delve into the Farm Bill which was just approved by the House AG committee.
While many of us attempt to raise a few tomatoes in our gardens this summer, it’s likely not enough to meet an entire year’s worth of slices, sauces and paste. Luckily we have a few farmers filling in the gaps. Tracy Sellers with California Bountiful introduces us to one farmer growing tomatoes specifically for processing.
We've all heard about the health benefits of nuts. A new study says you may want to increase your intake of the popular almond.
The war on unhealthy foods has put pizza on the chopping block in many circles. But across the pond in Scotland scientists say they've figured out a way to make the pie healthy enough to eat three times a day.