AgDay Daily Recap - November 10, 2010

November 10, 2010 02:52 AM
 

TODAY ON AGDAY:
NOVEMBER 10, 2010

SOYBEAN CROP:
SOYBEAN PRICES SOARED TUESDAY AFTER USDA CUT ITS SOYBEAN CROP ESTIMATE. TRADERS HAD BEEN EXPECTING A SLIGHT UPTICK. THE AG DEPARTMENT ALSO CUT THE DOMESTIC ENDING STOCKS. USDA PUT SOYBEAN PRODUCTION AT NEARLY 3.4 BILLION BUSHELS ON AVERAGE YIELDS OF 43.9 BUSHELS AN ACRE, BOTH OF THOSE ARE LOWER THAN LAST MONTH'S PROJECTIONS. THE AG DEPARTMENT REGISTERED TWO-BUSHEL-PER ACRE REDUCTIONS IN KANSAS, NEBRASKA AND SOUTH DAKOTA. BUT THEY ALSO SAW RECORD YIELDS IN ILLINOIS, LOUISIANA, NEW YORK AND WISCONSIN.

CORN CROP:
AS FAR AS CORN, THE AG DEPARTMENT IS EXPECTING 12.5 BILLION BUSHELS ON AN AVERAGE YIELD OF JUST OVER 154-BUSHELS AN ACRE. THAT'S A REDUCTION OF 1.5 BUSHELS FROM THE OCTOBER FORECAST. THE AG DEPARTMENT SAW DROPS OF SEVEN BUSHELS AN ACRE IN MISSOURI, FIVE IN SOUTH DAKOT AND FOUR IN MINNESOTA. BUT THEY ALSO REPORT RECORD CROPS IN SEVERAL UPPER MIDWEST STATES.

BRIAN GRETE REAX:
USDA MADE LARGER THAN EXPECTED CUTS TO ITS DOMESTIC ENDING STOCKS ESTIMATES FOR CORN, SOYBEANS AND WHEAT FOR OUR REPORTING PARTNERS AT PRO FARMER NEWSLETTER, THE BIGGEST SURPRISE WAS THE REDUCTION IN THE ENDING STOCKS OF SOYBEANS. PRO FARMER SENIOR MARKETING ANALYST BRIAN GRETE TELLS US WHAT IMPACT IT'LL HAVE.

GLOBAL COTTON:
MEANWHILE, COTTON CONTINUES ITS METEORIC RISE AFTER USDA LOWERED ITS FORECAST OF BOTH THE U-S AND GLOBAL COTTON SUPPLY.  USDA LOWERED ITS YIELD ESTIMATES FOR THE 2010 COTTON CROP BY NEARLY A HALF MILLION BALES, OR ABOUT TWO PERCENT. THE AG DEPARTMENT PEGS COTTON PRODUCTION AT 18.4 MILLION BALES. THE REDUCTION IS DUE TO LOWER YIELDS IN TEXAS. MEANWHILE, THE ESTIMATED WORLD COTTON PRODUCTION AND WORLD ENDING STOCKS WERE ALSO LOWERED.

DAIRY CONFERENCE:
HIGHER FEED COSTS, CAUSED BY A SHORTER GRAIN SUPPLY, IS AN IMPORTANT TOPIC AT THE ELITE PRODUCER BUSINESS CONFERENCE HOSTED BY OUR PARTNERS AT DAIRY TODAY. THE CONFERENCE IS NOW UNDERWAY IN LAS VEGAS. HUNDREDS OF THE TOP DAIRY PRODUCERS IN THE COUNTRY HAVE GATHERED FOR THE THREE DAY MEETING. WITH THE ECONOMIC DOWNTURN, STRUGGLING EXPORTS AND HIGHER FEED COSTS, PRODUCERS ARE LOOKING FOR SOLUTIONS TO IMPROVE THEIR BOTTOM LINE. AS AGDAY REPORTED LAST WEEK, COOPERATIVES WORKING TOGETHER HAS DECIDED TO PUT MORE EMPHASIS ON DAIRY EXPORTS AND WILL NO LONGER OFFER HERD BUYOUTS TO IMPROVE MILK PRICES. TILLISON SAYS CWT IS ASKING ITS MEMBERS TO PAY TWO-CENTS PER HUNDREDWEIGHT TO PAY FOR THE PROGRAM. FUNDS THAT WERE ALREADY COLLECTED, BUT NOT USED FOR THE HERD BUY-OUT PROGRAMS, WILL NOW GO TOWARDS IMPROVING DAIRY EXPORTS.

E15 LAWSUIT:
IN AGRIBUSINESS THIS MORNING, THE EPA'S RECENT E15 DECISION IS BEING CHALLENGED BY A GROUP OF FARM AND FOOD ORGANIZATIONS THE COALITION HAS FILED A LAWSUIT IN THE DISTRICT OF COLUMBIA U.S. COURT OF APPEALS. IT’S IN REGARD TO A DECISION THE EPA MADE LAST MONTH. IT CLEARED THE WAY FOR FUEL COMPANIES TO INCREASE ETHANOL CONTENT TO 15 PERCENT FOR USE IN CARS BUILT SINCE 2006...SO 2007 MODELS AND NEWER. THE COALITION INVOLVED IN THE LAWSUIT SAYS THE EPA HAS OVERSTEPPED ITS BOUNDS AND THE DECISION WILL COST AMERICANS AT THE GROCERY STORE. THERE ARE EIGHT ORGANIZATIONS BEHIND THE SUIT...INCLUDING THE NATIONAL MEAT ASSOCIATION, THE GROCERY MANUFACTURERS ASSOCIATION, THE AMERICAN MEAT INSTITUTE, THE NATIONAL PORK PRODUCERS COUNCIL AND THE NATIONAL CHICKEN COUNCIL.

ANALYSIS:
MIKE NORTH

CAPITOL CHRISTMAS TREE:
THE CHRISTMAS TREE THAT WILL ADORN THE FRONT LAWN OF THE U.S. CAPITOL IS HEADED TO ITS NEW HOME. CREWS FROM THE NATIONAL FOREST SERVICE CUT-DOWN THE CAREFULLY-SELECTED TREE FROM THE BRIDGER-TETON NATIONAL FOREST IN WYOMING. IT WILL NOW BEGIN ITS TRIP ON A FLAT-BED TRUCK, WINDING THROUGH THE PLAINS, MIDWEST AND SOUTHEAST, EVENTUALLY ENDING AT THE CAPITOL. WYOMING RESIDENTS HAVE DONATED MORE THAN FIVE-THOUSAND ORNAMENTS TO DECORATE THE TREE. MEANWHILE, CHRISTMAS TREE GROWERS FROM ACROSS THE COUNTRY MAY GET A "CHECKOFF"-TYPE PROGRAM TO PROMOTE THEIR PRODUCTS. USDA IS NOW CONSIDERING A CHRISTMAS TREE PROMOTION PROGRAM. IF APPROVED, IT WOULD RAISE TWO MILLION DOLLARS A YEAR TO PURCHASE ADVERTISING. GROWERS OF REAL TREES ARE BATTLING AGAINST THE COMPETITIVE ARTIFICIAL TREE INDUSTRY. ACCORDING TO USDA'S AG MARKETING SERVICE, DOMESTIC PRODUCERS AND IMPORTERS OF CHRISTMAS TREES WOULD PAY AN ASSESSMENT OF UP TO 20 CENTS PER TREE SMALLER PRODUCERS AND IMPORTERS HANDLING LESS THAN 500 CHRISTMAS TREES WOULD BE EXEMPT FROM PAYING ASSESSMENTS. THE PUBLIC COMMENT PERIOD IS OPEN UNTIL FEBRUARY 7TH.

IN THE COUNTRY; 4H BLAST:
LIVING AND WORKING IN AGRICULTURE IT’S EASY TO FORGET ITS COMPLEXITY. IT’S NOT JUST ABOUT GROWING STUFF, THERE'S A SCIENCE BEHIND IT. THAT'S THE MESSAGE EXTENSION 4-H EDUCATORS IN MICHIGAN ARE TRYING SHARE WITH THE YOUTH IN THAT STATE.  IN THIS REPORT FROM MICHIGAN STATE UNIVERSITY, KRAIG EHM SHOWS US HOW 4-HERS ARE LEARNING TO FIND THE SCIENCE IN EVERYTHING.  THANKS KRAIG. AND NOW TO A DIET THOSE PARENTS PROBABLY WOULDN'T APPROVE. CAN EATING SNACK CAKES AND TWINKIES HELP YOU LOSE WEIGHT...A RESEARCHER IN KANSAS SAYS HE'S GOT THE ANSWER. NEXT ON FOOD AND YOUR FAMILY.

TWINKIE DIET:
IN FOOD AND YOUR FAMILY HOW DOES A DIET THAT INCLUDES OREOS, LITTLE DEBBIES, HOSTESS TWINKIES AND DORITOS SOUND? WELL THAT'S WHAT ONE KANSAS STATE RESEARCHER CALLED BREAKFAST, LUNCH AND DINNER FOR TEN WEEKS. THE RESULT...PROFESSOR MARK HAUB LOST A WHOPPING 27 POUNDS. THE IDEA BEHIND THE DIET WAS TO PROVE ONE IDEA THAT COUNTING CALORIES MATTERS MORE WHEN IT COMES TO WEIGHT LOSS THAN THE NUTRITIONAL VALUE OF THE FOOD.  HAUB SET A LIMIT AT 1,800 CALORIES PER DAY--RATHER THAN HIS USUAL 2,600. BEYOND THE NEAR 30 POUND LOSS, HIS BODY MASS INDEX DROPPED, HIS BAD CHOLESTEROL FELL 20%, AND HIS TRIGLYCERIDES FROM FAT FELL NEARLY 40%. THE 41 YEAR-OLD PROFESSOR SAYS HE'S HOPES THE RESEACH SHEDS LIGHT ON THE DISCONNECT BETWEEN EATING HEALTHY AND BEING HEALTHY.

HEALTHY MENU ITEMS:
AND HEALTHY EATERS OFTEN SAY IT’S HARD TO STICK WITH THEIR HEALTHY PLAN AT A RESTAURANT. IN FACT NEARLY HALF OF CONSUMERS SAY THEY WANT HEALTHIER MENU ITEMS. THE PROBLEM IS ONLY 25% OF PEOPLE ACTUALLY CONSIDER ORDERING HEALTHY FOOD WHEN THEY EAT OUT. THIS COMES FROM A SURVEY CONDUCTED BY FOOD INDUSTRY CONSULTING FIRM TECNOMIC. THE REPORT SAYS CONSUMER'S EATING BEHAVIOR IS SIGNIFICANTLY DIFFERENT AT HOME THAN AWAY FROM HOME. TWO OUT OF FIVE SAY THEY EAT VERY HEALTHY AT HOME. NOW RESTAURANTS MUST FIGURE OUT WHY THAT BEHAVIOR DOESN'T TRANSLATE TO THE AWAY FROM HOME EXPERIENCE.

CONTACT PAGE:
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