AgDay Daily Recap -November 2, 2012

November 2, 2012 05:57 AM

NOVEMBER 2, 2012


Good morning I’m Clinton Griffiths. While rains this week may have helped relieve drought in the northeast, farmers in the Central Plains are still struggling with crop-reducing drought.


Meanwhile, the latest drought monitor shows about 40% of Kansas is in "D4" or exceptional drought. That's the most intense level. And the entire state faces a severe drought. Meanwhile, 27% of Oklahoma is under an exceptional drought. Like Kansas, the entire state is considered to be in some stage of drought. That's starting to have a real impact on the state's winter wheat crop. 61% of the wheat crop is called fair right now.


Winter wheat is an important grazing option for cattle in Oklahoma through the fall and winter.

Experts say right now pastures are holding on but need a rain soon.


The drought monitor shows Superstorm Sandy erased all moderate drought and abnormally dry conditions in the Northeast with the exception of upstate New York. And even though the storm tracked along the eastern seaboard, it did not provide any moisture to moist of the southeast. Let's check in now with Mike Hoffman with cropwatch.


Texas farmers and ranchers are seeing the benefits of adding irrigation systems to their cropland. The Federal Reserve Bank of Dallas released its quarterly land values report. And it shows irrigated cropland posted the strongest gain. The survey of AG bankers found a 4% increase over the second quarter and a 13% jump compared to the previous year. Non-irrigated cropland rose, but not at as strong a pace. Dryland cropland gained nearly 2% from the previous quarter and three % compared to a year earlier.


From our update file - lawyers for ABC news are asking a judge to throw-out a billion dollar defamation lawsuit filed by South Dakota-based meat processor, BPI.


In agribusiness, despite this summer's weather that took its toll on many farms across the country, sales within the AG equipment manufacturing sector remain strong.


In this week's Profarmer profit briefing, soybean growers in South America have been slowed-up by recent rains to get this year’s crop in the field. How much impact will that have on the market? Are there opportunities for U.S. growers? Profarmer Editor Chip Flory and Senior Market Analyst Brian Grete join us from the Profarmer studios to look at the weather adversity for our biggest competitor. For subscribers to the Profarmer newsletter, here's what you can expect when it comes out today. Chip and Brian will take a closer look at South American planting delays, which are getting more attention from the marketplace. Sandy's impacts could be wide-ranging and long-lasting. USDA will update its production estimates, and supply-demand tables on the ninth. And the jobs report will come out - it's the last key economic data before presidential election.


North Dakota farmers have a unique place in the American food chain. The state's farmers plant and harvest more spring wheat, durum, flax, barley, canola and sunflowers than anywhere else in the nation. And while grapes aren't a crop the state is famous for, that doesn't mean the fruit of the vine can't be grown and marketed there. Cliff Naylor of AgDay affiliate, KFYR reports.

PROP 37:

In food and your family, as Election Day draws closer, a proposition involving the labeling genetically modified foods is heating up in California. And the latest poll shows it's a dead heat.


Meanwhile, berry producers in California, Florida and other states could face big challenges in the future. That's according to a new report from Rabobank on the U.S. berry market.



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