AgDay Daily Recap - October 11, 2010

October 11, 2010 10:20 AM
 

TODAY ON AGDAY:
OCTOBER 11, 2010

USDA CORN REPORT:
IT'S LIKE A SEQUEL TO LAST WEEK'S SURPRISING GRAIN STOCKS REPORT. ON FRIDAY, USDA ADDED MORE STUNNING NUMBERS TO THE GRAIN MARKETS. THE GOVERNMENT NUMBERS MATCH WHAT MANY PRODUCERS HAVE BEEN TELLING AGDAY -- THE CORN CROP JUST ISN'T THERE. THE AG DEPARTMENT SLASHED THE AVERAGE CORN YIELD BY NEARLY SEVEN BUSHELS PER ACRE TO 155.8 FROM ITS SEPTEMBER FORECAST. THAT'S BELOW THE LOW-END OF PRE-REPORT FORECASTS. PRODUCTION WAS PEGGED AT 12-POINT-SEVEN BILLION BUSHELS.

WHERE DID THE CROP GO?:
USDA SAYS ALL THREE OF THE BIG "I" STATES HAD BIG DROPS IN YIELD. ILLINOIS IS DOWN 14 BUSHEL AN ACRE. IOWA AND INDIANA ARE BOTH DOWN ABOUT TEN. GRAIN MARKETS REACTED BY SHOOTING UP TO THEIR LIMITS ON FRIDAY. EXPERTS SAY THOSE INVESTED IN THE MARKET NEED TO KEEP THEIR EYES OPEN.

SOYBEANS:
FOR BEANS, THE MARKET WAS EXPECTING SLIGHTLY HIGHER YIELDS. USDA LOWERED THE AVERAGE YIELD TO 44.4 BUSHELS AN ACRE, DOWN ABOUT A THIRD OF A BUSHEL. WHILE BELOW LAST MONTH'S REPORT, IT'S STILL UP FROM LAST YEAR. THE AG DEPARTMENT PEGGED THE SOYBEAN CROP AT 3.4 BILLION BUSHELS.

PRO FARMER CHIP FLORY:
AHEAD OF THE SUPPLY AND DEMAND REPORT, TRADERS WERE LOOKING FOR CORN CARRYOVER TO REMAIN COMFORTABLY ABOVE 1 BILLION BUSHELS, BUT USDA'S SUPPLY & DEMAND DIVISION DROPPED 2010-CROP CARRYOVER TO PRICE-POPPING LEVELS. WITH MORE PERSPECTIVE, HERE'S PRO FARMER'S CHIP FLORY, TO CONTINUE OUR COVERAGE.

STATE BY STATE:
IN OTHER NEWS AROUND THE COUNTRY, HERE ARE TODAY'S STATE BY STATE HEADLINES. IMMIGRATION AND CUSTOMS ENFORCEMENT ARRESTED THE OWNERS OF A MICHIGAN DAIRY. OFFICIALS SHOWED UP IN NUMEROUS VEHICLES INCLUDING A HELICOPTER. THE DAIRY OWNERS ARE ACCUSED OF FAILING TO FULLY AND ACCURATELY COMPLETE I-9 FORMS AND ARE CHARGED WITH ENCOURAGING ILLEGAL ALIENS TO RESIDE IN THE U.S. UNDER VIOLATION OF LAW. NONE OF TWO DOZEN EMPLOYEES WERE ARRESTED. THE ANDERSONS MARATHON ETHANOL PLANT IN GREENVILLE OHIO SAYS IT WILL START PRODUCING CARBON DIOXIDE. IT’S AGREED TO SUPPLY THE GAS TO CONTINENTAL CARBONIC FOR THE CREATION OF DRY ICE. CARBON DIOXIDE IS A CO-PRODUCT OF ETHANOL PRODUCTION. CONTINENTAL CARBONIC PLANS TO BUILD A NEW 50,000 SQUARE FOOT DRY ICE PLANT AND HIRE ABOUT 70 FULL TIME WORKERS. AND IN FLORIDA THE STATE IS PREDICTING A TOUGH WILDFIRE SEASON. STATE AG OFFICIALS SAY, DRY WEATHER, A LACK OF TROPICAL STORMS, AND LA NINA CONDITIONS IN THE PACIFIC...HAS FLORIDA ON TAP FOR A WARMER AND DRIER WINTER. LA NINA CAUSES COLD SEA SURFACE TEMPERATURES WHICH USUALLY MEANS LESS RAINFALL IN THE SUNSHINE STATE. FIVE OF FLORIDA'S MOST ACTIVE WILDFIRE YEARS OCCURRED DURING OR RIGHT AFTER A PERIOD OF COLDER SEA TEMPERATURES.

AGWEB POLL:
THANKS CINDI. STICKING WITH HARVEST...THAT WAS THE TOPIC OF LAST WEEK'S AGWEB POLL QUESTION. THE EDITORS ASKED HOW FAR ALONG ARE YOU ON HARVEST. IT WAS FAIRLY EVENLY SPLIT. 29% OF YOU SAID YOU'RE WELL-OVER THREE QUARTERS DONE, WHICH INCLUDES MOST OF THE EASTERN CORN BELT. THE WESTERN CORN BELT AND UPPER PLAINS ARE ABOUT HALF DONE. OF COURSE WITH ALL THE DRY WEATHER, HARVEST HAS PROGRESSED QUITE A BIT. AND NOW, HERE'S THE BRAND NEW AGWEB POLL QUESTION. THE EDITORS ASK "DO YOU SUPPORT GOVERNMENT-MANDATED CHECKOFFS?" HERE ARE YOUR CHOICES: YES..NO...DON'T KNOW WHAT TO THINK--OR--NOT MANDATED, THEY SHOULD BE VOLUNTARY. GO TO www.agweb.com , SCROLL DOWN THE RIGHT HAND SIDE OF THE SCREEN AND MAKE YOUR CHOICE KNOWN IN THIS UN-SCIENTIFIC POLL.

NITROGEN PRICES:
GROWING CORN NEXT YEAR MAY COST MORE. NITROGEN PRICES ARE UP AND EXPECTED TO CONTINUE THAT TREND. CREDIT SUIESSE ESTIMATES, WORLD WIDE, AMMONIA WILL AVERAGE 430 DOLLARS A TON BY 2012.  IN CENTRAL ILLINOIS THERE ARE ALREADY REPORTS OF AMMONIA PRICES REACHING 675 DOLLARS. POTASH PRICES ARE EXPECTED TO RISE BUT AT A SLOWER PACE. SHARES OF FERTILIZER PRODUCERS RALLIED ON FRIDAY AFTER THE USDA CUT ITS CORN CROP ESTIMATES ON ANTICIPATION OF HIGHER GRAIN PRICES.

ANALYSIS:
MARK GOLD

STATE PARKS:
FALL IS A BEAUTIFUL TIME TO VISIT OUR NATION'S STATE PARKS.  MILD TEMPERATURES AND CHANGING COLORS MAKE A NICE ESCAPE.  IN TENNESSEE THE STATE PARKS AREN'T ONLY BEAUTIFUL THEY'RE A BOOST TO THE ECONOMY. THAT ACCORDING TO A NEW STUDY BY THE UT INSTITUTE OF AGRICULTURE. IT SAYS THE PARKS PUMP MILLIONS OF DOLLARS INTO THE COMMUNITY AND CREATE THOUSANDS OF JOBS. CHUCK DENNEY TAKES US TO ONE OF TENNESSEE'S BEST-KNOWN STATE PARKS--WHERE TOURISM AND NATURE ARE HELPING GROW A BEAUTIFUL ECONOMY. THANKS CHUCK. STILL TO COME ON AGDAY...FAMILIES ARE PREPARING TO GATHER AROUND THE DINNER TABLE FOR THE HOLIDAYS, BUT FINDING THE RIGHT TURKEY TO CARVE COULD TAKE EXTRA EFFORT.
I'LL EXPLAIN IN TODAY'S FOOD AND YOUR FAMILY WHEN AGDAY RETURNS.

TURKEY PRODUCTION:
IN FOOD AND YOUR FAMILY WITH THE HOLIDAY'S AROUND THE CORNER, MANY OF US ARE ALREADY PLANNING THE MEAL. IF YOU'RE A TURKEY FAMILY SELECTION MAY BE A BIT SLIMMER THIS YEAR. U.S. TURKEY PRODUCTION IS DOWN ABOUT TWO PERCENT THIS YEAR. ACCORDING TO THE USDA, PRODUCERS RAISED ABOUT 242 MILLION TURKEYS THUS FAR.  MINNESOTA AND NORTH CAROLINA ARE THE TWO BIGGEST PRODUCERS...CHECKING IN AT 47 AND 31 MILLION BIRDS RESPECTIVELY.

HEALTHY APPS:
AND FOOD WAS ON THE MINDS OF THESE KIDS WHEN THEY CREATED A HEALTHY PHONE APP. IT’S PART OF THE USDA'S HEALTHY APPS FOR KIDS CHALLENGE. THE YOUTH WORKED IN TEAMS ACROSS THE NATION TO DESIGN APPS AND GAMES THAT ENCOURAGE HEALTHY EATING AND PHYSICAL ACTIVITY. THE WINNERS CREATED APPS THAT WERE BOTH EDUCATIONAL AND FUN. YOU CAN ACTUALLY TAKE FROM A MENU AND DRAG AND DROP THE FOOD ITEMS ONTO A PLATE AND THEN THERE ARE METERS ALONG THE RIGHT HAND SIDE THAT WILL TELL YOU, IS THERE TOO MUCH SALT, IS THERE NOT ENOUGH PROTEIN. SMASH YOUR FOOD TAKES TEN OF THE MOST COMMONLY ABUSED FOODS BY KIDS IN THE USA TODAY, BURGERS FRIES, MILKSHAKES AND IT LITERALLY SQUISHES THEM AND THE SMASHES THEM TO SMITHEREENS AND SHOWS YOU HOW MUCH SUGAR, SALT AND OIL AND FAT THERE IS IN THEM.

CONTACT PAGE:
REMEMBER US AS YOU GO THROUGH YOUR DAY. FEEL FREE TO CONTACT US BY PHONE, EMAIL AT INFO@AGDAY.COM OR ON FACEBOOK AT WWW.FACEBOOK.COM/AGDAY .

 


 

 

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