AgDay Daily Recap - October 13, 2011

October 13, 2011 08:00 AM
 

TODAY ON AGDAY:
OCTOBER 13, 2011


USDA CROP PRODUCTION:

Good morning. Clinton's on assignment. Topping our news this Thursday morning USDA slightly lowered its projections for the 2011 corn and soybean crops in this country. In the same report, it says the cotton crop is a bit bigger. Here are the numbers for you. Corn production is forecast at 12.4 billion bushels, down 1% from the September forecast. The national average yield is pegged at 148 bushels an acre, unchanged from last month. Soybean production is also revised downward one percent to just over three billion bushels. Average yields are placed at 41.5 bushels an acre. That's down a third of a bushel from last month.

SUPPLY DEMAND:
In its monthly supply-demand report, USDA lifted its estimates for domestic corn inventories at the close of the current crop year. U.S. corn production was lowered 64 million bushels from last month, but carry-in from the 2010 crop was boosted 208 million bushels, based on the September first stocks estimate. So total supplies for the 2011-12 crop year rose 144 million bushels. USDA also made a cut on the demand side, lowering exports by 50 million bushel.

PRO FARMER REAX:
For analysis of these reports, we turn to our reporting partners at Pro Farmer Newsletter. Here's senior market analyst Brian Grete.

RICE PRODUCTION:
Thanks Brian. U.S. rice production took a big hit. The Ag department lowered its production forecast by four million hundredweight from last month. That would make this year’s crop the smallest since 1998. USDA says the decline is entirely due to a decrease in yield which is down 150 pounds an acre from last month.

COTTON:
Also in the south, USDA pegs the all-cotton production forecast at 16.6 million bales, up slightly from last month but down 8% from last year. Yield is expected to average 809 pounds per harvested acre, down 3 pounds from last year.

WDX TECHNOLOGY:
Dairy producers are always looking for ways to make more money and be more efficient. They found that in the various products and technology displayed at this year's world dairy expo in Madison, Wisconsin. The show set a record this year with more than 800 commercial exhibitors from 28 different companies. AgDay's Michelle Rook shows us some this year's hottest products and technological advancements. Right now the U.S. accounts for just .05% of the robotic milking machine sales in the entire world.

ANALYSIS:
Matt Matke

IN THE COUNTRY; VIRGINIA IN THE FALL:
For many families autumn is full of rich traditions - like apple picking or pumpkin patches. There's also a growing tradition in Virginia, although it's not for the entire family unless they're over 21 years old. Sherri McKinney has details in this report provided by the Virginia Farm Bureau. Virginia growers produce six million bushels of apples annually. It ranks sixth in the nation. When we come back, we'll look at how many people won't be sitting down at the breakfast table this morning. You might be surprised. Food and your family is next.

BREAKFAST:
We're told time-and-time again that breakfast is the most important meal. But is anyone listening? Details in food and your family. One out of every ten of us won't have breakfast this morning. That's according to a recent study conducted by the food marketing research group "NPD". NPD says men, age 18-to-34, are most likely to skip breakfast. They make-up nearly a third of the non-breakfast eaters. As far as children, high schoolers have the highest incidence of skipping at 14%. Top reasons for not eating include "not hungry" or "too busy". For those who do eat a morning meal, three-fourths have it at home.

CONTACT:
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 on some of that new technology, at www.facebook.com/agday.
 

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