AgDay Daily Recap - March 4, 2011

March 4, 2011 01:48 AM
 

TODAY ON AGDAY:
MARCH 04, 2011

ALLENDALE WASDE:
WHEN USDA RELEASES ITS MONTHLY SUPPLY-DEMAND REPORT NEXT WEEK, THE DATA MAY SHOW AN EVEN TIGHTER SUPPLY OF CORN ENDING STOCKS. ALLENDALE INCORPORATED PUT OUT ITS PRE-REPORT FORECAST ON THURSDAY. ALLENDALE IS PROJECTING OLD-CROP CORN IS SITTING AT 650-MILLION BUSHELS. THAT'S A REDUCTION OF 25-MILLION FROM USDA'S NUMBERS LAST MONTH. LAST YEAR AT THIS TIME, THERE WAS 1.7 BILLION BUSHELS IN STORAGE. ALLENDALE SAYS ENDING STOCKS HAVE DECLINED NINE OF THE PAST TEN MONTHS. THEIR ANALYSTS SAY HIGHER ETHANOL USAGE IS THE BIG DRIVER BEHIND THE DROP IN STOCKS.

CHIP CLINTON CORN ACRES:
AT THIS WEEK'S COMMODITY CLASSIC IN TAMPA, FLORIDA, THE LOW GRAIN STOCKS AND THE VARIOUS PRICE SCENARIOS HAVE BEEN POPULAR TOPICS. SO IS THE DISCUSSION OVER ACREAGE. LAST WEEK, USDA'S CHIEF ECONOMIST FORECASTED 92-MILLION ACRES OF CORN WILL BE PLANTED THIS SPRING. BUT SOME MARKET WATCHERS ARE NOT SO SURE. CLINTON GRIFFITHS HAS DETAILS FROM TAMPA.

BRAZIL ETHANOL:
A SCARCITY OF SUGAR IN BRAZIL IS FORCING THE COUNTRY TO LOOK ELSEWHERE FOR FUEL - INCLUDING THE U.S. ETHANOL MARKET. BRAZIL USES A MUCH HIGHER BLEND OF ETHANOL IN ITS FUEL – 25% - THAN THE U.S. BRAZILIAN ETHANOL IS PRODUCED FROM SUGARCANE. WWW.AGRIMONEY.COM IS REPORTING THAT HIGH SUGAR PRICES IS PROMPTING MILLS TO TURN CANE INTO SWEETENERS RATHER THAN BIOFUELS. WITH LESS FEEDSTOCK FOR FUEL, BRAZIL IS TURNING TO THE U.S. FOR CORN-BASED ETHANOL TO REPLENISH ITS FUEL SUPPLIES. AGRIMONEY SAYS THE SUGAR STOCKS WILL REMAIN TIGHT FOR THE COMING QUARTER UNTIL BRAZIL BEGINS ITS CANE HARVEST.

UN FOOD PRICES:
FOR THE EIGHTH STRAIGHT MONTH, GLOBAL FOOD PRICES HAVE GONE HIGHER. THE UNITED NATION'S FOOD AND AGRICULTURE ORGANIZATION SAYS FOOD PRICES SPIKED ANOTHER TWO-PERCENT OVER JANUARY PRICES. THE UN AGENCY WARNS THAT OIL PRICE SPIKES COULD PROVOKE FURTHER INCREASES. GLOBAL OIL PRICES HAVE SPIKED ON CONCERNS ABOUT THE POTENTIAL IMPACT OF SUPPLY DISRUPTIONS FROM LIBYA. CRUDE OIL HAS PARKED OVER ONE-HUNDRED DOLLARS A BARREL ALL THIS WEEK. THERE ARE REPORTS OF GASOLINE PRICES HITTING FOUR DOLLARS A GALLON IN LARGER METRO AREAS, LIKE CHICAGO. THE FAO SAYS THAT ITS FOOD PRICE INDEX WAS UP 2.2% LAST MONTH, THE HIGHEST LEVELS SINCE THE AGENCY STARTED MONITORING PRICES IN 1990.

UNDERCOVER VIDEO:
AN IOWA LAWMAKER HAS INTRODUCED LEGISLATION THAT WOULD PROTECT LIVESTOCK OPERATORS FROM HIDDEN-CAMERA INVESTIGATIONS THAT ARE CONDUCTED ACTIVIST GROUPS. OVER THE PAST SEVERAL YEARS, WE'VE SEEN UNDERCOVER VIDEO SHOWING-UP ON WEBSITES ON ANIMAL ACTIVIST GROUPS. THE ANIMAL AGRICULTURE ALLIANCE SAYS THOSE GROUPS WILL OFTEN SEVERELY EDIT OR "STAGE" THE VIDEOS TO DEPICT MISTREATMENT OF ANIMALS. IOWA STATE REPRESENTATIVE ANNETTE SWEENEY INTRODUCED A BILL THAT WOULD PROVIDE LEGAL PROTECTION TO FARMERS AND AGRIBUSINESSES FROM UNDERCOVER VIDEOS. THE ALLIANCE SAYS THE LEGISLATION WOULD HOLD ACTIVISTS ACCOUNTABLE FOR THEIR ACTIONS TO UNDERMINE FARMERS, RANCHERS AND MEAT PROCESSORS. TRIPLE-A SAYS A SIMILAR BILL WILL BE INTRODUCED IN THE IOWA SENATE. WHAT DO YOU THINK ABOUT THIS PROPOSED LEGISLATION? WILL IT MAKE A DIFFERENCE? WILL IT HELP OR HURT THE FARMERS' CAUSE? SEND YOUR COMMENTS TO THE AGDAY INBOX. WE MAY USE SOME OF YOUR COMMENTS ON THE SHOW.

MEXICO TRUCKING:
A TRADE IMPASSE OVER MEXICAN TRUCKS IN THIS COUNTRY MAY SOON BE COMING TO AN END. THE WHITE HOUSE ANNOUNCED A TENTATIVE DEAL THAT WOULD END THE TRUCKING DISPUTE. IN 2009, CONGRESS CUT-OFF A PROGRAM THAT ALLOWED A LIMITED NUMBER OF MEXICAN TRUCKING COMPANIES TO HAUL FREIGHT BEYOND 25 MILES OF THE BORDER. THAT DISPUTE PROMPTED MEXICO TO PLACE TARIFFS ON A HOST OF U.S. PRODUCTS, INCLUDING PORK. THE NATIONAL PORK PRODUCERS COUNCIL IS PRAISING THE OBAMA ADMINISTRATION FOR RESOLVING THE DISPUTE. THE NPPC SAYS MEXICO IS THE SECOND LARGEST MARKET FOR THE U-S PORK INDUSTRY, WHICH SHIPPED NEARLY A BILLION DOLLARS WORTH OF PORK SOUTH OF THE BORDER IN 2010.

ANALYSIS:
GARY WILHELMI

IN THE COUNTRY; GOVERNOR CHEF:
WHEN IT COMES TO FINDING JUST THE RIGHT INGREDIENTS FOR HIS CREATIONS, VIRGINIA'S "FIRST CHEF" BELIEVES IT'S ALWAYS GOOD TO LOOK "LOCAL FIRST". IN THIS REPORT FROM THE VIRGINIA FARM BUREAU, SHERRI MCKINNEY TAKES US INSIDE THE GOVERNOR'S MANSION IN RICHMOND. STILL TO COME, YOUR MOM PROBABLY SAID SPITTING WAS A BAD HABIT. BUT IT MAY ALSO LEAD TO THE FUTURE OF MEDICINE. FIND OUT WHY, NEXT ON AGDAY.

WINE SALES:
CALIFORNIA WINE MAKERS ARE "TOASTING" TO A BIG YEAR OF EXPORTS. DETAILS IN FOOD AND YOUR FAMILY. U.S. WINE EXPORTS HIT A NEW HIGH IN 2010. THE WINE INSTITUTE SAYS EXPORTS OF U.S. MADE WINE REACHED 1.2 BILLION DOLLARS. THAT'S AN INCREASE OF 25% OVER 2009. WITH 90% OF THE NATION'S WINE COMING FROM CALIFORNIA, VINEYARD OWNERS HAVE PLENTY TO CELEBRATE. THE FARM BUREAU SAYS CALIFORNIA IS THE FOURTH LARGEST WINE PRODUCER IN THE WORLD.

SPIT RESEARCH:
EVERYTIME YOU TAKE A DRINK FROM A GLASS OR A BITE FROM A FORK, YOU'RE LEAVING BEHIND BILLIONS OF PIECES OF INFORMATION ABOUT YOUR BODY. RESEARCHERS ARE HOPING TO MAKE USE OF THE INFORMATION IN YOUR SALIVA TO MAP-OUT NEW APPROACHES TO MEDICINE. CLARK POWELL HAS DETAILS FROM OHIO STATE. RESEARCHERS HOPE TO RECRUIT 100, VOLUNTEERS TO ANALYZE THEIR SALIVA. THE DOCTORS SAY THE INFORMATION WILL NOT ONLY SIZE-UP A PATIENT'S RISK FOR CERTAIN DISEASES, IT WILL HELP DETERMINE WHICH MEDICINES MAY WORK BEST FOR THEM.

CONTACT PAGE:
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