Good morning I’m Clinton Griffiths. The AG department says we grew a little bit more this year and we'll have a little more left over.
On the supply-demand tables, U.S. corn ending stocks sit at 647 million bushels, an increase of 28 million bushels from October’s estimate. Soybean ending stocks are also up slightly - 10 million bushels - to 140 million. USDA increased U.S. wheat ending stocks by 50 million bushels.
For expert analysis of Friday’s report, we turn to pro farmer Senior Market Analyst Brian Grete. He joins us from the Profarmer studios in Iowa, Brian.
USDA also upped its production forecast for this year’s cotton crop. The agency expects 17.4 million bales, up 1% from last month. It's a 12% bump from last year’s dismal crop. Bale yields are also higher.
Farmers from the plains to the Pacific Northwest could use a big dose of moisture. Meteorologist Mike Hoffman has details in cropwatch.
In today's machinery minute, we return to the World Dairy Expo where the Lay-Lee company was demonstrating Juno. This modern day R2-D2 is a robotic feed pusher for America’s dairy barns. The robot makes a pass every hour or so, pushing feed back in front of its herd of hungry cows. As cows eat, the closer Juno pushes what’s left against the rail. It keeps a constant supply in front of the herd, allowing the farmer time to do other things.
In agribusiness today, Canadian leaders say they're confident in the future of the keystone pipeline. The country's natural resources minister says he expects a reelected President Obama to approve the measure.
OBAMA FISCAL CUFF:
President Obama says he's invited Congressional leaders of both parties to the White House this week for their first post-election negotiations on the fiscal cliff. On Friday, the President said he won't accept any approach that does not ask families who earn 250-thousand dollars a year to pay more. House Speaker John Boehner said he remains unwilling to raise taxes on upper-income earners. In this morning's analysis, Farm Director Al Pell discusses what traders are focusing-on.
Yesterday was Veteran's Day, a time to honor the men and women of the U.S. Military who serve our country and protect our freedoms. A thoughtful Tennessee man helps his fellow veterans by offering them both human and canine friendship. In this report provided by the University of Tennessee, Chuck Denney reports on the Habit Program, and its impact on both people and pets. Chuck says the "Habit" program brought together more than 200-thousand contacts between pets and people so far this year.
Oil and water is not a good mix usually, but it can be...if it's used to fight salmonella in poultry. A researcher at the University of Georgia has found that feeding chickens a blend of plant-based oils in their drinking water can help prevent salmonella contamination in the meat.
And finally this morning, when state fair season rolls around in 2013, the State of Indiana plans to pay tribute to one of America’s favorite snacks - popcorn. According to the agricultural marketing center at Iowa State University, American’s eat on average 52 quarts of popped popcorn per year. Domestic popcorn sales accelerated in the 1980's as microwaveable popcorn became more popular. Microwave popcorn accounts for 65% of all popcorn sales. And more than 80% of U.S. Production is consumed domestically.