AgDay Daily Recap - June 10, 2011

June 10, 2011 03:31 AM
 

TODAY ON AGDAY:
JUNE 10, 2011

S&D REPORT:
GOOD MORNING EVERYONE, CLINTON GRIFFITHS IS ON ASSIGNMENT AT THE WORLD PORK EXPO. TOPPING OUR NEWS THIS FRIDAY MORNING, THE PICTURE PAINTED BY A HOST OF USDA REPORTS IS ONE OF EXTREMELY TIGHT U.S. CORN SUPPLIES....AND MORE ADEQUATE INVENTORIES OF WHEAT AND SOYBEANS. LET'S GET TO THE NUMBERS.

CORN OUTLOOK:
PLANTING DELAYS IN THE EASTERN CORN BELT AND NORTHERN PLAINS ARE PROMPTING USDA TO LOWER ITS CORN ACREAGE FORECAST FROM MARCH. USDA SAYS 1.5 MILLION FEWER ACRES OF CORN WILL BE PLANTED, SETTING THE LEVEL AT 90.7 MILLION ACRES. THE AG DEPARTMENT SAYS THOSE LOSSES ARE OFFSETTING LIKELY GAINS IN THE WESTERN CORN BELT AND CENTRAL PLAINS WHERE PLANTING WAS AHEAD OF NORMAL BY MID-MAY. PRODUCTION IS PROJECTED AT 13.2 BILLION BUSHELS, DOWN 305 MILLION FROM LAST MONTH.

GRAIN STOCKS:
THE USDA ALSO LOWERED NEW CROP CORN STOCKS TO 695 MILLION BUSHELS, DOWN MORE THAN 200-MILLION FROM JUST A MONTH AGO. NO CHANGES WERE MADE TO THE OLD CROP BALANCE SHEET, LEAVING STOCKS AT 730 MILLION BUSHELS. IN OTHERS WORDS, SUPPLIES ARE STILL TIGHT.

WHEAT PRODUCTION:
WINTER WHEAT PRODUCTION IS FORECAST AT 1.4 BILLION BUSHELS, UP 2% FROM THE MAY FIRST FORECAST. USDA SAYS BASED ON CONDITIONS AS OF JUNE FIRST, THE U.S. YIELD IS FORECAST AT 45.3 BUSHELS AN ACRE. THAT'S UP EIGHT-TENTHS FROM LAST MONTH.

RICE:
USDA SAYS THIS YEARS RICE CROP WILL BE THE SMALLEST SINCE 2007. RICE PRODUCTION IS PROJECTED TO DECREASE BY MORE THAN 5%. THE AG DEPARTMENT SAYS THE SMALLER CROP IS DUE ENTIRELY TO DECREASED PLANTED ACRES. THE AGENCY SAYS ALL RICE PLANTED AREA IS LOWERED 168,000 ACRES DUE TO THE IMPACT OF MISSISSIPPI RIVER DELTA FLOODING IN THE MID-SOUTH. MOST OF THE LOST ACRES WERE IN ARKANSAS AND MISSOURI.

COTTON:
COTTON PRODUCTION IS ALSO DOWN. USDA REDUCED PRODUCTION BY ONE MILLION BALES TO 17 MILLION. THE AG DEPARTMENT SAYS THIS IS MAINLY DUE TO EXPECTED HIGHER ABANDONMENT OF DROUGHT-IMPACTED CROPS IN THE SOUTHWEST. WITH LOWER AVAILABLE U.S. SUPPLIES AND MARGINALLY LOWER WORLD IMPORTS, U.S. COTTON EXPORTS WERE ALSO LOWERED.

TEXAS DROUGHT:
IN ADDITION TO THE TEXAS COTTON CROP, OTHER CASH CROPS AND LIVESTOCK ARE FALLING VICTIM TO AN EPIC DROUGHT. WATER IS SCARCE FOR PARCHED GRAINS AND CATTLE ARE FLOODING TO THE AUCTIONS. 2011 WAS SUPPOSED TO BE A YEAR FOR FARMERS AND RANCHERS TO REBOUND FROM THE TOUGH YEARS OF THE RECENT PAST. INSTEAD, THEY ARE LEFT TO WONDER HOW MUCH LONGER THEY CAN HOLD ON. MATT FELDER HAS DETAILS IN THIS REPORT FROM THE TEXAS FARM BUREAU.

WORLD PORK EXPO:
THE WORLD PORK EXPO IS WRAPPING UP LATER TODAY IN DES MOINES, IOWA. THE TRADE SHOWS DRAWS ABOUT 20,000 ATTENDEES TO THE STATE FAIR GROUNDS. THIS YEAR, THAT INCLUDES CLINTON GRIFFITHS. CLINTON AND OUR CREW ARE TALKING TO AG LEADERS AND PRODUCERS ABOUT THE HEALTH OF THE PORK INDUSTRY. NEXT FRIDAY, WE'LL PUT IT ALL TOGETHER FOR A SPECIAL EDITION OF AGDAY FROM THE WORLD PORK EXPO

ANALYSIS:
BRIAN BASTING

IN THE COUNTRY; NASCAR ROOK:
THE AMERICAN ETHANOL INDUSTRY TOOK THE CHECKERED FLAG LAST WEEKEND WITH A MARQUEE RACE PROMOTING THE NEW E15 BLEND THAT NASCAR IS USING FOR THE FIRST TIME THIS YEAR. MORE THAN A THOUSAND CORN FARMERS AND ETHANOL SUPPORTERS CONVERGED AT THE KANSAS SPEEDWAY TO TALK ABOUT THE BENEFITS OF THIS HOMEGROWN FUEL. AGDAY REGIONAL REPORTER MICHELLE ROOK HAS THE STORY TRACKSIDE. ETHANOL INDUSTRY OFFICIALS SAY THEY HOPE NASCAR WILL PUSH TO HIGHER BLENDS IN THE FUTURE. HOWEVER, FOR NOW, THEY LIKE PROMOTING E-15 BECAUSE THE EPA HAS APPROVED ITS USE IN THE NATION'S FLEET. FOOD AND YOUR FAMILY IS NEXT.

ONLINE COUPONS RESTAURANTS:
DO YOU SHOP ON-LINE FOR GOOD DEALS ON DINNER? YOU'RE NOT ALONE. DETAILS IN FOOD AND YOUR FAMILY. A FOOD INDUSTRY RESEARCH FIRM HAS FOUND THAT A GROWING NUMBER OF CONSUMERS ARE GOING ON-LINE TO FIND DISCOUNTS AND DEALS FROM RESTAURANTS. TECHNOMIC SAYS DAILY DEALS ARE ATTRACTING NEW AND IN-FREQUENT CUSTOMERS TO PARTICIPATING RESTAURANTS. 48% OF DEAL BUYERS USED THE COUPON AT A RESTAURANT THEY HAVE NOT YET VISITED. 25% USED IT AT A RESTAURANT THEY HAVE ONLY VISITED ONCE BEFORE. THEIR RESEARCH ALSO SHOWS MOST OF THOSE NEW CUSTOMERS - ABOUT 70% - WILL BECOME REPEAT CUSTOMERS EVEN WITHOUT A DAILY DEAL.

FISH OIL DEPRESSION:
IN OTHER NEWS, POST-PARTUM DEPRESSION IS A SERIOUS HEALTH ISSUE FOR NEW MOTHERS, AFFECTING ONE OUT OF EVERY FOUR. BUT IT APPEARS EATING FISH MAY HELP REDUCE SOME OF THE SYMPTOMS. NEW RESEARCH CONDUCTED AT THE UNIVERSITY OF CONNECTICUT SHOWS OMEGA-THREE FATTY ACIDS CAN HELP A NEW MOTHER BATTLING WITH DEPRESSION AFTER THE BABY IS BORN. A GOOD SOURCE OF OMEGA THREE IS FISH OR FISH-OIL SUPPLEMENTS. THE U-CONN STUDY SHOWS THE HEALTY FISH OILS WILL LOWER THE RISK WHEN IT'S CONSUMED DURING PREGNANCY.

CONTACT PAGE:
WE'D LOVE TO HEAR FROM YOU! CONTACT US AT 800-792-4329. OR DROP AN EMAIL TO INBOX@AGDAY.COM . YOU CAN ALSO CHECK US OUT AT WWW.FACEBOOK.COM/AGDAY .


 

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