USFR Weekly Recap - December 13, 2014, 2014, 2014, 2014

December 13, 2014 03:30 AM
 

TODAY ON USFR
DECEMBER 13-14, 2014

HEADLINES:
WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN, AND HERE'S WHAT WE'RE WORKING ON FOR YOU THIS WEEKEND. A CRUDE CRASH... AFTER A SIX MONTH DROP, THE PRICE PLUMMET ACCELERATED THIS WEEK. WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN, AND HERE'S WHAT WE'RE WORKING ON FOR YOU THIS WEEKEND. A CRUDE CRASH... WE'LL TELL YOU WHAT IT'S GOING TO TAKE TO REVIVE CRUMBLING INFRASTRUCTURE ON THE MIGHTY MISSISSIPPI. IN LEAVE A LEGACY, SOMETIMES YOU CAN TAKE THE BOY OUT OF FARMING WE’LL TELL YOU WHAT IT'S GOING TO TAKE TO REVIVE CRUMBLING INFRASTRUCTURE ON THE MIGHTY MISSISSIPPI. BUT YOU CAN'T TAKE THE FARMING OUT OF THIS MAN.  AND FROM JOHN'S FARM, SANTA ARRIVED EARLY.
WASDE:
NOW FOR THE NEWS THAT MOVED THE MARKETS THIS WEEK... USDA'S DECEMBER SUPPLY AND DEMAND REPORT IS TYPICALLY A YAWNER. AND WHILE THERE WERE A FEW SURPRISES, IT WAS LARGELY OVERLOOKED BY THE TRADE.
SHORT TERM INTEREST:
OPERATING LOANS COULD SOON BECOME MORE EXPENSIVE. THAT'S BECAUSE ANALYSTS THINK THE FEDERAL RESERVE WILL START RAISING SHORT THERM INTEREST RATES IN 2015.
THE ANNOUNCEMENT WILL LIKELY COME OUT OF THE FEDERAL RESERVE MEETING SCHEDULED FOR NEXT WEEK. SHORT-TERM INTEREST RATES HAVE HOVERED AROUND ZERO SINCE THE ECONOMY TOOK A DOWNTURN IN DECEMBER 2008.
BP CUT:
THE SLIDE IN OIL PRICES IS ALSO EATING INTO OIL COMPANY PROFITS, AND NOW B-P SAYS IT WILL CUT HUDNREDS OF JOBS ACROSS THE GLOBE BY THE END OF NEXT YEAR. IT'S PART OF A 1 BILLION DOLLAR RESTRUCTURING PLAN ANNOUNCED TODAY.
BP CELLULOSIC:
BP ALSO ANNOUNCED IT'S CLOSING ITS U-S CELLUSLISOC OPERATION BY THE BEGINNING OF NEXT YEAR. THE VENTURE EXPLORED HOW TO MAKE ETHANOL FROM SWITCHGRASS, WOOD CHIPS AND AGRICULTURAL WASTE. THE PLANTS ARE LOCATED IN JENNINGS, LOUISIANA, AS WELL AS SAN DIEGO. B-P SAYS ITS BIOFUELS INVESTMENT WILL NOW BE FOCUSED ON SUGARCANE BIOFUELS IN BRAZIL.    
HARVEST TRAINS:
AFTER CONTINUOUS HEADACHES TRYING TO TRANSPORT GRAIN VIA RAIL, THIS HARVEST SEASON HAS BEEN A PLEASANT SURPRISE. THE SOY TRANSPORTATION COALISTION RELEASED ITS ANALYSIS OF RAIL PERFORMANCE FOR 2014 HARVEST. IT SHOWS 70 PERCENT OF PARTICIPATING GRAIN HANDLING FACILITIES SHOW CYCLE TIMES FASTER THAN A YEAR AGO. AND NEARLY 50 PERCENT REPORTING NO RAIL ORDERS PAST DUE. HOWEVER, AS WE KNOW, A BIGGER CROP THIS SEASON CREATED MORE STRESS. 60 PERCENT OF GRAIN RECEIVING FACILITIES DID SHOW RAIL SERVICE DELAYS AND DIMINISHING STORAGE CAPACITY.
PITCH TO MIKE:
THAT'S IT FOR NEWS, MIKE, THERE WERE A FEW BIG WEATHER MAKERS THIS WEEK. WHAT'S ON TAP FOR NEXT WEEK?
TEASE ONE:
THE TRADE DIDN'T THINK THE LATEST WASDE REPORT WAS THAT BIG OF A DEAL. BUT DO OUR ANALYSTS AGREE? BRIAN BASTING AND NAOMI BLOHM JOIN ME RIGHT HERE AT THE AGRIBUSINESS DESK AFTER THE BREAK.
HEADLINES:
WELCOME BACK TO U-S FARM REPORT. WE HAVE MUCH MORE AHEAD THIS WEEKEND. OUR FARM JOURNAL REPORT EXPLORES WHAT IT WOULD TAKE TO KEEP INFRASTRUCTURE ALONG U-S WATERWAYS AFLOAT. IN LEAVE A LEGACY, SOMETIMES NO MATTER WHAT PATH YOU TAKE, THE END DESTINATION IS ALWAYS THE FARM.SOME VIEWERS THINK JOHN LOOKS LIKE ANOTHER FAMOUS PHIPPS. HE COMPARES NOTES IN CUSTOMER SUPPORT, AND TRACTOR TALES, A CLASSIC PIECE OF IRON THAT STILL HAS THE ORIGINAL PAPERWORK.
SCHOOL LUNCH:
ONE ITEM THAT COULD SEE A CUT IN THIS NEW SPENDING MEASURE IS THE FIRST LADY'S HEALTHIER SCHOOL LUNCH EFFORT. IT ROLLS BACK REQUIRED REDUCTIONS ON SODIUM IN SCHOOL LUNHCES, SAYING THE RULE SHOULD NOT BE IMPLEMENTED, QUOTE, UNTIL THE LATEST SCIENTIRFIC RESEARCH ESTABLISHES A REDUCTION IS BENEFICIAL FOR CHILDREN, END QUOTE. IT WOULD ALSO ALLOW WAIVERS FOR SCHOOLS THAT CAN'T AFFORD THE HEALTHIER CHANGES.
CALIFORNIA WATER BILL:
PORTIONS OF NORTHERN CALIFORNIA ARE SEEING SOME MUCH NEEDED MOISTURE THIS WEEK, BUT IT'S NOT ENOUGH TO RID THE STATE OF THE MASSIVE DROUGHT.THAT'S WHY THE HOUSE APPROVED A MEASURE TUESDAY, ALLOWING STATE AND FEDERAL AGENCIES TO MOVE MORE WATER TO THE MAJOR FARMING AREAS.THE BILL PASSED 230 TO 182.  BUT IT MAY STOP THERE, AS IT'S UNLIKELY TO RECEIVE ENOUGH VOTES IN THE SENATE. OPPONENTS CALLING THE BILL A WATER-GRAB DESIGNED TO HELP FARMERS AT THE EXPENSE OF OTHERS.
CALIFORNIA ALMONDS:
AN INDUSTRY THAT COULD USE THE WATER IS THE STATE'S ALMOND GROWERS. A NEW STUDY FOUND THAT INDUSTRY IS VITAL TO THE GOLDEN STATE, GENERATING MORE THAN 100 THOUSAND JOBS AND 11 BILLION DOLLARS TO THE STATES GROSS DOMESTIC PRODUCT.
THE UNIVERSITY OF CALIFORNIA STUDY ALSO FOUND ALMONDS ACCOUNT FOR A QUARTER OF THE STATE'S AGRICULTURAL EXPORTS.
WEATHER PITCH:
THAT'S IT FOR NEWS...METEOROLOGIST MIKE HOFFMAN JOINS US NOW WITH WEATHER. MIKE, WE HIT ON IT LAST WEEK. BUT ANOTHER BIG STORM SYSTEM IN CALIFORNIA THIS WEEK...ARE WE STARTING TO SEE A PATTERN?
FARM JOURNAL REPORT TAG:
THANKS, BETSY. SOME INTERESTING FACTS... ACCORDING TO THE NATIONAL WATERWAYS FOUNDATION, ONE BARGE HOLDS OVER 52-THOUSAND BUSHELS OF GRAIN.
THAT'S EQUIVILANT TO 15 JUMBO CARS AND 58 LARGE SEMIS WHEN WE COME BACK, WE'LL HEAR FROM JOHN PHIPPS.
CUSTOMER SUPPORT:
I THINK MANY OF YOU WOULD AGREE OUR OWN JOHN PHIPPS IS ONE OF A KIND. IT WOULD BE HARD TO MISTAKE HIS IDENTITY, BUT HE OFTEN GETS A QUESTION ABOUT A POSSIBLE RELATIVE. JOHN'S HERE NOW TO EXPLAIN.
YAMAHA GIVEWAY:
THANKS JOHN. EARLIER IN THE SHOW YOU SAW A NEW TOY ON JOHN'S FARM. WELL, WE ARE GIVING AWAY A DIFFERENT FARM TOY TO ONE LUCKY VIEWER. IT'S A 'LIKE NEW' YAMAHA 3 SEAT CAMOGLAGE VIKING. SIX HUNDRED 86 CC'S, FOUR WHEEL DRIVE, PADDED HEAD RESTS AND A HAND HOLD BAR FOR THAT ROUGH TERRAIN. TO REGISTER TO WIN, GO TO U-S FARM REPORT AND CLICK ON THE YAMAHA VIKING BILLBOARD...IT'LL BE ON THE RIGHT HAND SIDE OF THE WEBSITE. YOU MUST 18 YEARS OR OLDER TO ENTER.
TEASE:
WHEN WE COME BACK, SOMETIMES NO MATTER HOW HARD YOU TRY TO GET OUT OF FARMING, IT'S JUST IN YOUR BLOOD, AND THE LOVE FOR THE LAND DRAWS YOU BACK IN. THAT'S THE CASE FOR ONE MISSOURI FAMILY... THEIR LEGACY STORY IS NEXT.
TRACTOR TALES:
THIS CLASSIC T-O (TEE-OH) 20 HAS BEEN IN THE FAMILY A LONG TIME. OWNER BRIAN SCHULTZ EVEN HAS THE ORIGINAL PAPERWORK HIS GRANDFATHER SIGNED WHEN HE BOUGHT THIS TRACTOR NEW."
CHURCH SALUTE:
TODAY'S COUNTRY CHURCH SALUTE GOES TO ST PAUL'S LUTHERN CHURCH IN LAMONTE, IOWA. THEY ARE CELEBRATING 100 YEARS. ORGANIZED IN 1914, THE CHURCH WAS PURHCASED FOR JUST 800 DOLLARS. TODAY, IT'S STILL A SIMPLE CHURCH, AVERAGING ABOUT 28 ATTENDEES EACH SUNDAY. OUR THANKS TO GLORIA HEACOCK FOR SHARING THEIR STORY…BY THE WAY, GLORIA IS THE GREAT-GRANDAUGHTER OF ONE OF THE FOUNDING MEMBERS.

 

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