AgDay Daily Recap - July 1, 2011

July 1, 2011 03:28 AM
 

TODAY ON AGDAY:
JULY 01, 2011

 

USDA REPORTS:
DESPITE RECORD FLOODING ALONG THE MISSISSISSIPPI AND MISSOURI RIVERS, AND VERY WET PLANTING CONDITIONS IN THE EASTERN CORN BELT, USDA SAYS AMERICA'S FARMERS HAVE PLANTED A HUGE CROP OF CORN. AND THE MARKET RESPONDED IN A BIG, BEARISH, WAY. MAJOR GRAINS ALL CLOSED AT OR NEAR LIMIT DOWN. USDA ALSO RELEASED ITS GRAIN STOCKS REPORT, WHICH SHOWED MORE CORN THAN THE TRADE EXPECTED. STARTING WITH THE ACREAGE REPORT, USDA REPORTED CORN PLANTED ACRES AT 92.3 MILLION ACRES, UP ABOUT FOUR MILLION ACRES FROM LAST YEAR. THE AG DEPARTMENT SAYS THIS IS THE SECOND LARGEST CORN PLANTING SINCE 1944. STATE BY STATE, NEBRASKA HAS THE BIGGEST INCREASE WITH 850-THOUSAND MORE ACRES. IOWA IS RIGHT BEHIND. SOYBEAN ACRES ARE ESTIMATED AT JUST OVER 75 MILLION, DOWN TWO MILLION ACRES OR 3% FROM LAST YEAR. ALL-WHEAT AREA PLANTED IS ESTIMATED AT 56.5 MILLION ACRES, UP 5% FROM 2010, BUT DOWN FROM USDA'S EARLIER FORECAST. THE DEPARTMENT ALSO LOWERED THEIR 'HARVESTED' ACREAGE FORECAST. THAT COMES AS NO SURPRISE SINCE THE THREE MAJOR WINTER WHEAT STATES --- KANSAS, OKLAHOMA AND TEXAS --- ALL STRUGGLED WITH DROUGHT. ALL COTTON PLANTED ACRES ARE ESTIMATED AT 13.7 MILLION ACRES, UP 25% FROM LAST YEAR. THE LARGEST INCREASE WAS REPORTED IN TEXAS WHERE THE GROWERS PLANTED 1.6 MILLION ACRES MORE THAN IN 2010. BUT WITH TEXAS IN ITS DEVASTATING DROUGHT, THE QUESTION IS HOW MUCH COTTON WILL ACTUALLY COME FROM THOSE FIELDS.

GRAIN STOCKS:
THE OTHER BIG REPORT WAS THE QUARTERLY GRAIN STOCKS REPORT. BASED ON INFORMATION AT THE BEGINNING OF JUNE, ESTIMATES FOR US CORN INVENTORIES WERE PEGGED HIGHER THAN MARKET ANALYSTS THOUGHT. USDA UPPED THE TILL BY 370 MILLION BUSHELS. WE HAVE TEAM COVERAGE AND WE BEGIN WITH PRO FARMER EDITOR CHIP FLORY, CHIP.

DARREL GOOD:
THANKS CHIP. A YEAR AGO, THE USDA'S JUNE GRAIN STOCKS AND ACREAGE REPORTS PROVIDED BULLISH SURPRISES FOR THE CORN MARKET AND TRIGGERED A YEAR LONG RALLY IN PRICES. THE SAME TWO REPORTS, IT SEEMS, MAY HAVE JUST ENDED THAT CLIMB. TODD GLEASON HAS ANALYSIS IN THIS REPORT FROM THE UNIVERSITY OF ILLINOIS EXTENSION.

MORE SURVEY:
ONE OTHER NOTE. USDA SAYS "NASS" WILL COLLECT UPDATED INFORMATION ON 2011 ACRES PLANTED TO CORN, SOYBEANS, DURUM AND OTHER SPRING WHEAT IN FOUR STATES - MINNESOTA, MONTANA, NORTH DAKOTA AND SOUTH DAKOTA. THE ORIGINAL SURVEY WAS CONDUCTED DURING THE FIRST TWO WEEKS OF JUNE. AT THAT TIME, A LARGE PERCENTAGE OF ACRES WERE STILL UN-PLANTED. NASS WILL RE-SURVEY GROWERS IN JULY. USDA SAYS IF THE NEW DATA CAUSES CHANGES, IT WILL BE PUBLISHED IN THE CROP PRODUCTION REPORT IN AUGUST.

RICE:
RICE TOOK A MAJOR HIT IN PLANTING WITH ACREAGE FOR ALL VARIETIES FORECAST AT TWO POINT SEVEN MILLION ACRES, DOWN NEARLY A MILLION ACRES FROM 2010 PLANTING. ARKANSAS, INUNDATED WITH FLOODING, REFLECTS A 620,000 ACREAGE DECLINE FROM LAST YEAR. ARKANSAS IS THE BIGGEST RICE PRODUCING STATE.

ANALYSIS:
GARY WILHELMI

IN THE COUNTRY; BATS IN TEXAS:
TO THE GENERAL PUBLIC, BATS REMIND THEM OF HALLOWEEN AND VAMPIRES. NO DOUBT, BATS HAVE A SPOOKY REPUTATION. BUT FOR FARMERS AND RANCHERS TRYING TO PROTECT THEIR INVESTMENTS FROM INSECTS, BATS ARE A VALUABLE TOOL. IN THIS REPORT FROM THE TEXAS FARM BUREAU, NATHAN SMITH TAKES US TO A PECAN ORCHARD WHERE BATS ARE NATURE'S PEST CONTROL.

CAMPBELLS SOUP:
IN FOOD AND YOUR FAMILY, CAMPBELL SOUP COMPANY IS STRUGGLING WITH SOUP SALES. AS A RESULT, THE COMPANY SAYS IT WILL SLASH 770 JOBS WORLDWIDE BY 2013. ONE OF THE BIGGEST MOVES OF ITS RESTRUCTURING IS TO CLOSE A PLANT NEAR BATTLE CREEK, MICHIGAN.
THE COMPANY SAYS IT WILL ALSO CUT ABOUT 130 POSITIONS AT ITS CAMDEN HEADQUARTERS. BY CLOSING THE MICHIGAN PLANT, IT WILL SHIFT PRODUCTION TO OTHER PLANTS, LIKE IN OHIO AND NORTH CAROLINA. CAMPBELLS EMPLOYS ABOUT 18,000 PEOPLE WORLDWIDE.

UNHEALTHY HABITS:
ADOLESCENTS WHO DIET AND DEVELOP DISORDERED EATING BEHAVIORS - LIKE BINGE EATING - ARE LIKELY TO CARRY THESE UNHEALTHY PRACTICES INTO YOUNG ADULTHOOD AND BEYOND. THAT'S ACCORDING TO BRAND NEW RESEARCH CONDUCTED BY THE UNIVERSITY OF MINNESOTA. THE RESULTS WERE PUBLISHED IN THE JOURNAL OF THE AMERICAN DIETETIC ASSOCIATION. RESEARCHER AT THE UNIVERSITY OF MINNESOTA EXAMINED THE RECORDS FOR A THOUSAND YOUNG MEN AND 1,200 WOMEN OVER A TEN YEAR PERIOD. SUBJECTS WERE ASKED ABOUT DIETING, EXTREME WEIGHT CONTROL BEHAVIORS, LIKE FASTING AND SKIPPING MEALS. THE TRACKING OF THESE POTENTIALLY HARMFUL BEHAVIORS SUGGESTS THAT THEIR USE IS NOT JUST "A PHASE" THAT ADOLESCENTS GO THROUGH, BUT INSTEAD INDICATES THAT EARLY USE OF DIETING AND EATING BEHAVIORS MAY SET THE STAGE FOR CONTINUED USE OF THESE BEHAVIORS LATER ON.
 

 

CONTACT PAGE:
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