Evening Report (VIP) -- October 24, 2013

October 24, 2013 10:06 AM

NASS ANNOUNCES NOVEMBER CROP PRODUCTION REPORT CHANGES... USDA's National Agricultural Statistics Service (NASS) will publish information in the Nov. 8 Crop Production Report that was originally scheduled for release in the October report. This includes:

  • Potential updated planted and harvested acreage for dry edible beans, canola, corn, sorghum, soybeans and sunflower;
  • Revised peanut and sunflower acreage, yield and production for 2012; and
  • Indicated 2013-14 production forecasts for citrus fruits as of Nov. 1.


As in past years, the November Crop Production report will include: indicated area harvested, yield and production forecasts as of Nov. 1 for corn for grain, cotton, rice, sorghum for grain, soybeans for beans, peanuts for nuts, sugarbeets and sugarcane for sugar and seed; indicated cottonseed production; planted acres, indicated area harvested, yield and production forecasts of fall potatoes; indicated area planted, harvested, yield and production forecasts for dry edible peas, Austrian winter peas, and lentils; percent of 2013 fall potatoes planted by variety; and indicated U.S. production of rice by class.

Also included in the report is objective survey data for selected states, which include: corn plant population, number of ears, row width distribution and percent of samples processed in the lab; soybean row width distribution, number of pods with beans per 18 square feet and percent of samples processed in the lab; cotton cumulative large boll counts; and number of samples and average number of hills per acre for fall potatoes.

Forecasts for several crops originally scheduled for release in October will not be included in the November report. These include harvested area, yield and production forecasts for hay and tobacco as well as yield and production forecasts for canola, dry edible beans and sunflowers. Estimates for these crops will be included in the 2013 Annual Crop Production report scheduled for release in January 2014.


SOME DROUGHT IMPROVEMENT IN TEXAS... According to the National Drought Monitor, drought covers 54.96% of the contiguous U.S., which is a marginal expansion from last week when 54.76% of this area was covered in some form of drought. This is much better than year-ago, however, when nearly 75% of the contiguous U.S. was covered in drought.

There was little change in the drought footprint in the Midwest over the last week, with 51.57% of the region covered in drought. Precip led to some improvement in Minnesota. The High Plains saw around a 2.4 percentage-point reduction in drought to 52.43%, thanks to improvement in parts of Kansas, South Dakota and Nebraska.

The South saw a similar reduction in its drought profile to 66.13%. Widespread rain in central and eastern Texas resulted in some improvements in these regions. But the monitor also pointed out, "There has been very little, if any, improvement from recent rains with regard to runoff into the reservoirs. This can be attributed to the three-plus years of drought in the state." See the maps and read more details.


LOGISTICS DELAY LP DELIVERIES... The National Propane Gas Association reports today that Minnesota and the Dakotas are currently under hours-of-service waivers, which allow delivery drivers to stay on the road for more hours in a day to service emergency demand for LP. National supplies of propane are strong according to EIA data, but harvest demand for dryer fuel is bottlenecking transport to the farm. "It's not a supply issue," an official from Minnesota's propane industry told the Pro Farmer Inputs Monitor today. "We need bigger pipes and more trucks so we can get this [LP] out to customers." Iowa and Wisconsin applied for hours-of-service waivers today and as delivery trucks shuffle around the Corn Belt, consumers should expect LP delivery delays of up to two weeks in parts of the Midwest. Learn more.

DUFFY: HAVE IOWA FARMLAND VALUES REACHED A TOP?... Whether or not farmland is in a bubble or has topped out has been a popular question for the past four years. Land values have roared higher as people attempted to answer the question. But now we are seeing real weakness in portions of the Midwestern market -- primarily in Iowa and southern Minnesota where growing conditions have been especially difficult this year. Meanwhile, farm incomes are expected to decline in 2014 and possibly beyond. With that backdrop in mind, Iowa State University Extension Economist Mike Duffy takes a long look at whether or not farmland values have topped. Learn more from LandOwner Editor Mike Walsten.

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