AgDay Daily Recap -Sep, 9 2014

September 9, 2014 02:57 AM
 

 

TODAY ON AGDAY
SEPTEMBER 9, 2014
 
OPEN HEADLINES:
COMING UP TODAY ON AGDAY - WATCHING THE WEATHER AS COLD AIR PUSHES TOWARD IMMATURE CROPS...PLUS, ITS BACK TO WORK FOR LEADERS IN WASHINGTON..SEVERAL AG ITEMS FINDING A WAY TO THE CONGRESSIONAL DOCKET.IN AGRIBUSINESS....IT'S PLANTING SEASON DOWN SOUTH. PLUS A GROUP OF FARMERS ARE TAKING APART AN OLD TRACTOR AND PUTTING IT BACK TOGETHER ON A TIME CRUNCH... WE'LL TELL YOU WHY AHEAD ON AGDAY. AGDAY BROUGHT TO YOU BY THE ALL NEW CHEVY SILVERADO-THE 2014 NORTH AMERICAN TRUCK OF THE YEAR.
EARLY FROST:
GOOD MORNING I'M CLINTON GRIFFITHS. THE GROWING SEASON COULD COME TO A CLOSE THIS WEEK FOR FARMERS FROM CANADA TO THE UPPER MIDWEST. ...AND THAT'S OUR TOP STORY ON AGDAY.
CROP WATCH:
CLINTON…THE RISK OF AN EARLY FREEZE IS ON THE MINDS OF FARMERS IN THE UPPER MIDWEST. MIKE HOFFMAN WITH SOME COMMENTS IN CROPWATCH, MIKE…
CROP PROGRESS:
THANKS MIKE. LOOKING AT CROP MATURITY OF CORN THE CROP PROGRESS REPORT SHOWS IT'S ELEVEN POINTS BEHIND THE FIVE YEAR AVERAGE. STATE BY STATE - ILLINOIS IS 19 POINTS BEHIND, IOWA 21 BEHIND, MINNESOT AND NORTH DAKOTA ARE BOTH IN THE LOW TEENS. SOYBEANS ARE ALSO A BIT BEHIND. 12-PERCENT IS DROPPING LEAVES, FIVE POINT BEHIND AVERAGE. MOST STATE ARE JUST A FEW POINTS BEHIND. TURNING TO SPRING WHEAT - 58-PERCENT IS NOW HARVESTED. THAT'S A 20 POINT JUMP FROM LAST WEEK BUT STILL 20 POINTS BEHIND AVERAGE. MINNESOTA AND NORTH DAKOTA WITH THE BIGGEST DELAYS... THE CONDITION DROPPED THREE POINTS. AND WINTER WHEAT PLANTING IS NOW UNDERWAY WITH THREE PERCENT IN THE GROUND. THAT'S CLOSE TO AVERAGE,
WOTUS:
THE EPA'S PROPOSED CHANGES TO THE CLEAN WATER ACT MAY FACE A CHALLENGE FROM THE HOUSE OF REPRESENTATIVES.
CHS:
SPEAKING OF THE NORTHERN PLAINS C-H-S SAYS IT PLANS TO BUILD A NEW FERTILIZER MANUFACTURING PLANT IN NORTH DAKOTA. THE 3 BILLION DOLLAR PROJECT IS SLATED FOR SPIRITWOOD AND PLANS TO BE FULLY OPERATIONSAL BY MID-2018.ITS EXPECTED TO EMPLOY JUST SHY OF 200 PEOPLE AND PRODUCE MORE THAN 24-HUNDRED TONS OF AMMONIA A DAY.
EQUIPMENT EXPORTS:
U.S. AG EQUIPMENT MAKERS FEELING THE PINCH GLOBALLY AS WELL AS HERE AT HOME...
EXPORTS DOWN 27 PERCENT DURING THE FIRST HALF OF 2014…THE ASSOCIAITON OF EQUIPMENT MANUFACTURERS SAY ALL WORLD REGIONS SAW DECLINES--ASIA BUYING OFF MORE THAN A THIRD--SHIPMENTS TO EUROPE JUST THREE QUARTERS OF WHAT IT WAS A YEAR AGO.
GALVA CELLULOSIC ETHANOL:
BACK AT HOME, IN GALVA IOWA, QUAD COUNTY CORN PROCESSORS WILL BE HOSTING A GRAND OPENING FOR IT'S NEW BIO-REFINERY. IT TAKES CORN KERNEL FIBERS TURNING IT INTO CELLULOSIC ETHANOL. THE COMPANY HOPES TO CREATE 2 MILLION MORE GALLONS OUT OF WHAT'S OTHERWISE A BY PRODUCT. THE PROCESS ALSO MAKES BACK END FEED, HIGHER IN PROTEIN AND LOWER IN FIBER.
TEASE:
STILL TO COME - OUR BRAND NEW 'FROM THE FLOOR" REPORT, STRAIGHT FROM THE CME. PLUS, FARM DIRECTOR AL PELL LOOKS AT SOUTH AMERICAN GRAINS AS PLANTING GETS UNDERWAY.
ANALYSIS INTRO:
AS FARMERS IN THE MIDWEST MOVE TOWARDS HARVEST, FARMERS SOUTH OF THE EQUATOR ARE FOCUSED ON PLANTING.IN ANALYSIS FARM DRECTOR AL PELL SAYS YOU NEED TO KEEP YOUR EYES ON BOTH.
ANALYSIS:
HERE AT AGDAY AT THE AGRIBUSINESS DESK WE'RE TALKING TO BRIAN BASTING OF ADVANCE TRADING AND BRIAN ONE OF THE THINGS THAT WE HEARD INFORMATION THIS LAST WEEK THAT A LOT OF ARGENTINE FARMERS ARE HANGING ON THE SOYBEANS BECAUSE OF THE SOUTH AMERICAN SITUATION BUT THAT IS ALSO AFFECTING WHAT'S HAPPENING HERE IN THE UNITED STATES SOUTH AMERICA IS PRETTY GOOD SIZED PRODUCER. YEA WHEN YOU REALLY LOOK AHEAD TO THE 2014-15 CROP HERE AL YOU GOT TO FOCUS ON THE FACT THAT WE'RE LOOKING AT RECORD LARGE CROPS HERE IN THE US BUT THOSE CROPS HAVE NOT EVEN BEEN PLANTED YET IN SOUTH AMERICA SO WHEN YOU'RE TALKING ABOUT THE PLANTING CONDITIONS OBVIOUSLY YOU GET INTO SEPTEMBER MORE OCTOBER NOVEMBER IN BRAZIL NOVEMBER DECEMBER IN ARGENTINA BUT MY POINT IS THAT AS YOU MAKE YOUR DECISIONS FOR 14 CORN AND BEANS KEEP IN MIND THAT FLEXIBILITY ON MARKETING IS STILL VERY IMPORTANT BECAUSE YOU'VE GOT AN ENTIRE GROWING SEASON IN SOUTH AMERICA AHEAD OF US LEAVE THE UPSIDE OPEN ON THOSE BUSHELS GET A FLOOR IN PLACE ON THEM BUT LEAVE THE UPSIDE OPEN IN CASE SOMETHING HAPPENS IN SOUTH AMERICA. THE LAST THREE YEARS BEFORE OUR PRICES WENT DOWN OUR PRICES WERE HIGH AND SOME OF THOSE OTHER COUNTRIES DECIDE THAT THEY ARE GOING TO PLANT MORE JUST LIKE OUR FARMERS DECIDE TO PLANT MORE AND NOW THEIR SETUP TO RAISE THAT AND ARE THEY GOING TO CUT BACK OR ARE THEY GOING TO BE JUST AS COMPETITIVE OR EVEN MORE COMPETITIVE. OVER TIME AL LOW PRICE WILL CURE LOW PRICES AND I MEAN LOW PRICES WILL DISCOURAGE ACREAGE WHETHER IT BE IN THE US OR WILL DISCOURAGE ACREAGE IN SOUTH AMERICA ARE WE THERE YET I THINK FOR PROBABLY 2014 15 WERE GOING TO SEE FOR EXAMPLE IN BRAZIL A FEW LESS CORN ACRES PLANTED MAYBE THAN LAST YEAR BUT IS IT CATASTROPHIC IS IT MONUMENTAL DECLINE IN TERMS OF ACREAGE NO AND I DON'T THINK THAT THAT'S SOMETHING YOU CAN DEPEND ON IN YOUR MARKETING I THINK YOU STILL HAVE TO LOOK AT THE FACT THAT WE'VE GOT A BALANCE SHEET THAT'S POTENTIALLY VERY BURDENSOME HERE WHEN WE IN THE 14 15 BUT OVER TIME YES LOW PRICES WILL CURE LOW PRICES IT USUALLY DOESN'T HAPPEN AS QUICK AS WHAT PEOPLE THINK IT DOES. WE JUST HAVE TO FIGURE OUT SOME WAY THAT WE CAN USE IT MORE AND GET THAT DEMAND OUT THERE IT BE A DIFFERENT STORY AND ETHANOL'S NOT THE ONLY ANSWER. WE'VE SEEN SOME GREAT ETHANOL DEMAND BUT BOY WHEN YOU'RE LOOKING AT THE SIZE OF THIS CROP COMING ON IT SURE LOOKS LIKE IT COULD OVERWHELM THE MARKET FOR THE SHORT TERM. OKAY THANK YOU VERY MUCH BRIAN BASTING IS OUR GUEST HERE ON AGDAY BACK WITH MORE IN A MOMENT.
TEASE:
CHEESE PRODUCTION STILL GOING STRONG WHILE THE DAIRY INDUSTRY IS TALKING EXPANSION... DETAILS NEXT IN OUR DAIRY TODAY REPORT…
EPA GREAT LAKES:
MEANWHILE OUT OF WASHINGTON...THE EPA ANNOUNCING NEARLY $12 MILLION IN FUNDING FOR GREAT LAKES RESTORATION. THE MONEY IS EARMARKED TO HELP REDUCE ALGAE BLOOMS IN OHIO, MICHIGAN AND INDIANA. THE EPA SAYS THE FUNDING WILL BE USED FOR EXPANDING MONITORING AND FORECASTING EFFORTS. IT WILL ALSO INCREASE INCENTIVES FOR FARMERS IN WESTERN LAKE ERIE WATERSHEDS.
CHEESE PRODUCTION:
U.S. CHEESE OUTPUT STILL ON A HOT STREAK... THE U.S. PRODUCING 956 MILLION POUNDS IN JULY THAT'S UP 7.0 PERCENT FROM LAST YEAR… BUTTER PRODUCTION--INSPITE OF RECORD PRICES-- FELL 3 PERCENT MONTH TO MONTH BUT PRODUCTION IS STILL TRENDING HIGHER ON THE YEAR.
CLOSE:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.
STATION PROMO:
ANALYSIS, PLUS MIKE HOFFMAN'S FORECAST. JOIN US WEEKDAYS ON RFD.


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