GRAIN STOCKS REPORT:
Good morning I’m Tyne Morgan, in for Clinton Griffiths. While few surprises were expected from the quarterly grain stocks report, the USDA did manage to perplex analysts a bit and that's our top story on AgDay.
Our partners at ProFarmer analyzed the data. Brian Grete joins us from ProFarmer studios, Brian.
FINAL WHEAT NUMBERS:
USDA reports 2012 U.S. wheat production was just under 2.3 (2.269) billion bushels, up 13% from a year ago. The average yield was 46.3 bushels per acre, nearly three bushels better than last year. All winter wheat came in at 1.6 billion, less than what was expected, but 10% higher than a year ago.
The drought of 2012 has significantly cut corn and soybean production this season, but the effects may linger into 2013. Supplies of seed nationally will be tight for the second year in a row. AgDay's Michelle Rook talked to a cross section of the industry to determine seed availability and how that is impacting pricing.
Some surprising yields in New York and cotton is progressing in Georgia.
Cindi Clawson has details.
In agribusiness, despite this year's drought, farmland values continue to post strong gains. Landowner newsletter Editor Mike Walsten says Iowa farmland climbed nearly 8% over the past six months. For the first time, the 'statewide' average value of high-quality cropland was over ten-thousand dollars an acre.
The signs of fall are here -- leaves are turning, pumpkins line houses and corn mazes are now open for business. For corn maze owners, the work begins in the summer, long before they open their doors. AgDay affiliate WNDU's Frank Waugh shows us the tricks of the trade to get those crazy and unique maze designs ready for some fall family fun. Waugh says they plant the corn in both directions to make the maze even more confusing.
Upgrading to the latest, and what they claim to be the greatest, smartphone. May be costing you more than you may realize.
If you're an apple fanatic, time may be running out to purchase the fresh fruit from local orchards. Apple harvest came a month early and will also end early. We stopped by one Missouri orchard where both the drought and the heat, made for a tough season.