AgDay Daily Recap -October 8, 2012

October 8, 2012 05:57 AM

OCTOBER 8, 2012


Good morning I’m Clinton Griffiths. As USDA prepares to release its October grain reports, private firms have upped the forecast of the crop size.


The analytical firms have also increased the size of the soybean crop.


Despite some weather and pest challenges, it appears China may have a big corn crop this year. That's the forecast from the U.S. Grains Council which just concluded its annual tour of China's corn harvest. AgDay analyst Andy Shissler from Roach AG Marketing also just returned from China on his own tour. Shissler's a regular visitor over there. His take on the crop differs from USGC.

Meanwhile there's new ammunition this morning in the argument over ethanol mandates and impact on U.S. corn prices. And it supports the pro-ethanol crowd.


Last week the World Dairy Expo wrapped up in Madison Wisconsin. Farmers, companies and exhibitors from around the U.S. and across the world showed up to what's become the premiere gathering of the dairy industry. I spent time at the expo last week and saw a dynamic view of a growing and changing business.


It may be fall, but some producers are knee deep in snow. Mike Hoffman joins us from the AgDay weather center with details in this morning's cropwatch.


In agribusiness - Columbus Day is being observed today by the various government offices. That means the weekly crop progress report will not be issued by USDA this afternoon. In other news - the Kansas City board of trade plans to eliminate the early start time of open outcry trading on those days when USDA releases major grain reports. The hours will revert back to the 9:30 central start time. The exchange made the switch to an earlier start when trading days got longer. But now that USDA plans to release reports later in the day, the early trade days were not warranted.


As we mentioned earlier, on Thursday the USDA releases its latest crop production numbers. Al Pell and mark gold take a closer look at report expectations in this morning's analysis.


Agricultural innovation is helping to give a Texas farmer a new lease on life. Craig Hillhouse was stricken with cancer. The disease ravaged his body, but it did not hamper his spirit. Nathan Smith has his story in this report provided by the Texas Farm Bureau. 24 states have some kind of agrability program. To learn more about it, check out the National Agrability project website.


In food and your family certified organic growers continue to up the amount of product being sold. According to the USDA's latest survey, farmers sold more than 3.5 billion dollars’ worth in 2011.  A lot of that food ends up in restaurants. According to the market research firm--NPD group, consumers are still eating less at American restaurants.



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