AgDay Daily Recap -Sep, 10 2014

September 10, 2014 02:57 AM
 

 

TODAY ON AGDAY
SEPTEMBER 10, 2014
 
OPEN HEADLINES:
COMING UP TODAY ON AGDAY - A POTENTIAL SETTLEMENT BETWEEN SEED GIANT MONSANTO AND WHITE WHEAT GROWERS... PLUS THE HOUSE TAKES UP THE CLEAN WATER ACT AND RULE MAKING FROM EPA. IN AGRIBUSINESS...YOU COULD LOSE ESSENTIALLY 159 MILLION BUSHELS OF BEANS AND 500 MILLION BUSHELS OF CORN. EXTREME RAIN BRINGS FLOODING TO THE SOUTHWEST. AND THESE INSECTS MAYBE THE PERFECT SOLUTION IN A BATTLE AGAINST A TREE KILLER. AGDAY BROUGHT TO YOU BY THE ALL NEW CHEVY SILVERADO-THE 2014 NORTH AMERICAN TRUCK OF THE YEAR.
PROPANE:
PROPANE DEALERS IN WISCONSIN ARE WARNING HOMEOWNERS TO BE PREPARED THIS WINTER.THE GROUP WORKING TO ADD MORE STORAGE AND PLAN TO KEEP CUSTOMERS TANKS FULL. IN A CONFERENCE CALL MONDAY, LEADERS SAY THEY EXPECT ANOTHER COLD WINTER BUT AT THE LEAST DEALERS ARE BETTER PREPARED.
SOUTHWEST FLOODING:
THE SOUTHWEST DEALING WITH SEVERE FLOODING AND A STATE OF EMERGENCY AFTER DRENCHING RAINS MONDAY... THIS IS WHAT THINGS LOOKED LIKE IN NEVADA TUESDAY.
ON MONDAY, PHOENIX SET A NEW RECORD FOR ITS WETTEST DAY WITH A 3 INCH DOWNPOUR. ROADS WERE FLOODED, SCHOOLS CLOSED AND THOUSANDS LOST POWER.
AREAS FROM CALIFORNIA NEVADA UTAH AND COLORADO SET TO GET HEAVY RAINS AS THE REMNANTS OF HURRICANE NORBERT ADDS MOISTURE TO THE ATMOSPHERE OUT WEST.
TEASE:
JUST AHEAD, WE'LL HEAD TO THE CME FLOOR TO SEE HOW GRAIN MARKETS FINISHED ON TUESDAY. PLUS IN ANALYSIS WE'LL LOOK AT THE POTENTIAL IMPACT IF COLD WEATHER ENDS THE GROWING SEASON TOO SOON IN THE MIDWEST.
FMC DEAL:
CHEMICAL COMPANY F-M-C CORPORATION IS EXPANDING ITS AGRICULTURAL DIVISION. THE COMPANY SAYS IT'S BUYING DANISH FIRM CHEMINOVA FOR ONE-POINT EIGHT BILLION DOLLARS. F-M-C SAYS CHEMINOVA'S DIRECT MARKET ACCESS IN EUROPE, ALONG WITH ITS POSITION IN LATIN AMERICA, WILL HELP BRING GREATER BALANCE TO FMC. THE PURCHASE WILL ALLOW FMC TO GIVE IT ACCESS TO ADDITIONAL CROPS, LIKE CEREAL GRAINS.
CME REPORT:
IT WAS A DOWN DAY IN THE GRAIN MARKETS. GREG WAGNER FROM G-W-X AG ADVISORS HAS DETAILS "FROM THE FLOOR".
ANALYSIS INTRO:
COOLER THAN NORMAL WEATHER WILL BE MOVING ACROSS THE NATION'S MID-SECTION LATER THIS WEEK. WILL IT BE COLD ENOUGH TO END THE GROWING SEASON? IT'S HARD TO TELL. FARM DIRECTOR AL PELL DISCUSSES THE POTENTIAL MARKET IMPACT.
ANALYSIS BIEDERMANN:
BILL BIEDERMAN ALLENDALE INCORPORATED OUR GUEST BILL THERE ARE A LOT OF PEOPLE OUT THERE SAYING THAT WE'RE ACTUALLY GOING TO HAVE AN EARLY FROST THIS YEAR I HAVEN'T SEEN IT YET BUT BECAUSE WE'VE GOT HAD PRETTY GOOD WEATHER ALL SUMMER REALLY FOR GROWING OUR CROPS WHAT HAPPENS IF WE DO AND HOW EARLY DOES THAT FROST NEED TO COME TO CAUSE A PROBLEM. OKAY WELL WHEN WE SURVEYED PRODUCERS IN 27 STATES THEY SAID WE BASICALLY NEED 2 WEEKS FROM THIS WEEK IN ORDER TO BE FROST FREE AND SAFE. SO IF IT DOESN'T FROST BY THE FIRST OF OCTOBER THERE'S NO PROBLEM. NO WE'RE FINE WE ABSOLUTELY FINE IN FACT EVEN THE WEEK BEFORE THAT WE WE'D HAVE MINIMAL LOST BUT IF WE GET A FROST THIS COMING WEEKEND AL IT COULD BE DEVASTATING IN THE STATES THAT COULD BE AFFECTED UP IN THE NORTHERN TIER YOU COULD HAVE I'M NOT TALKING A FROST I'M TALKING A FREEZE. A FREEZE. A FREEZE YOU COULD HAVE 50% LOSSES IN SOYBEANS. OH WOW. AND STILL THAT THAT THAT SERIOUS SO LET'S JUST SAY WE YOU KNOW WE TOOK ALL THOSE NORTHERN STATES TIERS FROM FORM MICHIGAN ALL THE WAY TO NORTH DAKOTA AND WE HAD THE KIND OF FROST THAT WOULD HAPPEN THAT THEY WERE TALKING ABOUT LAST WEEK AND 50% LOST ON THAT AREA YOU COULD LOSE ESSENTIALLY 159 MILLION BUSHELS OF BEANS AND 500 MILLION BUSHELS OF CORN I'M NOT SAYING THAT'S GOING TO HAPPEN I'M JUST SAYING WORST CASE SCENARIO THAT WOULD BE A GAME CHANGER FOR THIS MARKET AL THAT WOULD CATCH EVERYBODY OFF GROUND ALL THE END USERS WHO ARE BUYING HAD TO MOUTH THEY'D BE HAVE TO BE FORCED TO COME IN PEOPLE WHO ARE SHORT WOULD BE FORCED TO COME BACK IN BECAUSE OF MARGIN CALLS AND IT WOULD BE A TURNAROUND DEAL IT WOULD BE SERIOUS. BUT IT GOT TO HAPPEN WITHIN 2 WEEKS. IT'S GOT TO HAPPEN WITHIN THIS COMING WEEK RIGHT NOW GET BEYOND THAT RISKS GO DOWN DRAMATICALLY QUICK YOU KNOW HOW FAST THESE CROPS CAN MATURE. OH YEA. YOUR THOSE GROUP 2'S ARE OUT DOWN BY YOUR HOUSE THEY'RE ABOUT READY TO GO HERE IN ANOTHER WEEK SO. NO QUESTION ABOUT IT. BILL BEIDERMAN OUR GUEST HERE ON AGDAY BACK WITH MORE IN A MOMENT…
TEASE:
JUST AHEAD - IT'S INSECT VERSUS INSECT TO PROTECT MILLIONS OF TREES. IN THE COUNTRY IS NEXT.
CLOSE:
THE WASPS HAVE BEEN APPROVED BY THE USDA FOR THIS USE. THE AG DEPARTMENT ESTIMATES THE EMERALD ASH BORER COULD DO TEN BILLION DOLLARS IN DAMAGE NATIONWIDE BY THE END OF THE DECADE. THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.
 

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