AgDay Daily Recap -March 4, 2014

March 4, 2014 01:57 AM
 

TODAY ON AGDAY

MARCH 4, 2014

 

UKRAINE WHEAT:

GOOD MORNING I'M CLINTON GRIFFITHS. TENSIONS IN THE UKRAINE ARE NOW SPILLING OVER INTO WORLD GRAINS MARKETS...WITH U.S. WHEAT SEEING THE BIGGEST BOUNCE MONDAY. WHY SO MUCH MOVEMENT? UKRAINE IS MAJOR EXPORTER OF GRAINS. IN 2013 THAT COUNTRY IS SET TO EXPORT ABOUT 9 AND HALF MILLION METRIC TONS OF WHEAT THIS SEASON--MAKING IT THE SIXTH BIGGEST SUPPLIER IN THE WORLD. ON CORN, IT'S NOW THE THIRD LARGEST EXPORTER--AT 18 AND HALF MILLION METRIC TONS. NOW SUPPLING ABOUT 14 PERCENT OF THE WORLD'S CORN. IT'S RANKED 7TH IN SOYBEAN EXPORTS.

UKRAINE ENERGY:

THE ENERGY SECTOR IS ALSO WATCHING THE RUSSIAN-UKRAINE CONFLICT VERY CLOSELY.
RUSSIA WAS THE WORLD'S SECOND-LARGEST PRODUCER OF OIL IN 2012. IT ACCOUNTS FOR ABOUT 12 PERCENT OF GLOBAL SUPPLIES. NEARLY HALF OF THAT OIL IS USED BY EUROPE.
RUSSIA IS ALSO A TOP EXPORTER OF NATURAL GAS. THE INTERNATIONAL ENERGY ADMINISTRATION SAYS ANY ECONOMIC SANCTIONS TAKEN AGAINST MOSCOW WOULD LIMIT WORLD SUPPLY AND PUSH UP PRICES.

HOG PRICES:

LEAN HOG CONTRACTS ALSO TRADED IN RECORD TERRITORY MONDAY. THIS AS PROCESSORS BID FOR SLAUGHTER READY SUPPLIES. THOSE SUPPLIES ARE GETTING HARDER TO COME BY THANKS IN PART TO PORCINE EPIDEMIC DIAREAH VIRUS. MILLIONS OF PIGLETTS HAVE ALREADY BEEN WIPED OUT DUE TO THE DISEASE.

EPA ADMISSIONS:

MONDAY THE OBAMA ADMINISTRATION ANNOUNCING PLANS FOR A DRAMATIC REDUCTION IN SULFUR IN GASOLINE. ADDED TO RISING EMISSIONS STANDARDS FOR CARS, THE AGENCY SAYS IT WILL EVENTUALLY SAVE THOUSANDS OF LIVES PER YEAR. THE OIL AND GAS INDUSTRY HOWEVER, WARN THE RULES ARE UNNECESSARY AND WILL ONLY SERVE TO DRIVE UP GAS PRICES AND THE COST OF BUYING A CAR. THE NEW STANDARDS ARE SET TO BEGIN IN 2017.

GAS PRICES:

COLD WEATHER AND TRANSPORTATION SNARLS AREN'T HELPING KEEP GAS PRICES DOWN.
DRIVERS ARE NOW PAYING MORE THAN THEY DID LAST SUMMER DURING THE TRAVEL SEASON. TRIPLE A SAYS THE SPIKE MAY CONTINUE INTO THE SPRING.

OBAMA INFRASTRUCTURE:

PRESIDENT OBAMA WILL SEND HIS FISCAL YEAR 2015 BUDGET TO CONGRESS TODAY. WE GOT A SNEAK-PEAK LAST WEEK OF ONE PORTION OF THE BUDGET.

CROP WATCH:

MARCH IS BEGINNING MUCH THE SAME WAY THAT FEBRUARY ENDED - COLD AND SNOWY.
MIKE HOFFMAN HAS DETAILS IN CROPWATCH, MIKE.

CHOBANI:

DESPITE URGING FROM ONE OF IDAHO'S BIGGEST END-USERS OF MILK, THE STATE'S GOVERNOR SIGNED WHAT'S CONSIDERED ONE OF THE TOUGHEST 'AG-GAG' LAWS IN THE NATION.

CALIFORNIA DROUGHT:

THE NATION'S BIGGEST DAIRY PRODUCER IS THANKFUL FOR RAINS OVER THE LAST WEEK.
CALIFORNIA DRYING OUT FROM A WEEK OF RAIN THAT BROUGHT A FOOT OF WATER TO SOME PLACES.

ANALYSIS:

WITH BOTH HOGS AND CATTLE TRADING IN RECORD TERRITORY THESE DAYS, PRICES AT THE MEAT COUNTER ARE ALSO UP. SO HOW'S THAT SITTING WITH DEMAND? NATIONAL REPORTER TYNE MORGAN ASKS THE QUESTION IN THIS MORNING'S ANALYSIS.

WATER WITCHES:

EVEN THOUGH MUCH OF CALIFORNIA GOT DRENCHED WITH RAIN, THE STATE IS STILL VERY MUCH IN A DEEP DROUGHT. SOME COMMUNITIES OUT WEST HAVE HELD PRAYER VIGILS ASKING GOD FOR RELIEF.  AND YET OTHERS ARE USING A MYSTERIOUS - AND SOME SAY FOOLHARDY - TOOL FOR LOCATING UNDERGROUND WATER. IN THIS REPORT FROM THE ASSOCIATED PRESS, TERRY CHEA TELLS US HOW SOME ARE NOW SEARCHING FOR HELP FROM WATER WITCHES.

DROUGHT FOOD PRICES:

IN FOOD AND YOUR FAMILY - THE CURRENT BEEF PRICES AT YOUR GROCERY STORY REFLECT THE DROUGHT THAT TEXAS RANCHERS HAVE BEEN FEELING FOR SEVERAL YEARS.
NOW YOU COULD START TO FEEL THE PINCH ASSOCIATED WITH THE CALIFORNIA DROUGHT.

 

 

 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
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