USFR Weekly Recap - Feb. 6-7, 2016

February 6, 2016 03:30 AM
 

TODAY ON U.S. FARM REPORT
FEB. 6-7, 2016
OPENING HEADLINES:


FROM THE STUDIOS OF FARM JOURNAL BROADCAST, THIS IS U.S. FARM REPORT. WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN, AND HERE'S WHAT YOU CAN EXPECT OVER THE NEXT  HOUR.  SYNGENTA HAS A NEW OWNER, BUT NOT EVERYONE IS COMFORTABLE WITH CHINA JUMPING HEAD FIRST INTO THE U-S SEED INDUSTRY.   WILD SWINGS IN THE CATTLE MARKET...
TIME IT WAS JUST UNBELIEVABLE HOW MUCH EQUITY WE LOST IN THIS INDUSTRY IN A 100 DAYS.   OUR FARM JOURNAL REPORT LOOKS AT WHERE PRICES ARE GOING, AND WHY SOME WANT TO TAKE A LOOK AT  THE C-M-E.   IN AMERICAN COUNTRYSIDE, ANDREW MCCREA SHARES THE RISE OF POPULAR PRODUCT USED FOR BAKING YOUR FAVORITE GOODS...  "SO HE SENT FELLAS OUT IN LITTLE PANEL TRUCKS TO CALL ON EVERY MEAT MARKET AND GROCERY STORE.”  IT'S THE STORY OF THE CLABBER GIRL, AND A MARKETING PLAN GONE  RIGHT.   AND IN JOHN'S WORLD...  WE NEED TO DO MORE SCIENCE FICTION ON U.S. FARM REPORT.  TPP IN FINAL STAGES:
NOW FOR THE MARKT RELATED NEWS, A MAJOR TRADE PACT THAT COULD INCRASE BOTH U-S AGRICULTURE EXPORTS AND IMPORTS IS NEARING ITS FINAL PHASE OF COMPLETION.   THE TRADE MINISTERS FROM THE 12 MEMBER NATIONS SIGNED THE TRANS PACIFIC PARTNERSHIP IN   AUCKLAND THIS WEEK.   THE TRADE PACT IS FIVE YEARS IN THE MAKING, BUT ISN'T A DONE DEAL. EACH OF THE COUNTRIES NOW NEED TO SIGN OFF ON T-PPL, INCLUDING U-S CONGRESS. AND LEGISLATORS THINK IT WON'T BE BROUGHT UP UNTIL AFTER THE NOVEMBER ELECTION.
PANAMA CANAL EXPANSION COMPLETION DATE PUSHED BACK:
 THE 5 BILLION DOLLAR PANAMA CANAL EXPANSION IS  SCHEDULED TO BE COMPLETED IN APRIL, BUT NOW  OFFICIALS ARE PUSHING THAT DATE BACK SEVERAL  MONTHS.  CONSTRUCTION IS 96 PERCENT COMPLETE, WITH A NEW COMPLETION TARGET OF JUNE.  THE CONTRACTOR IS STILL WORKING ON FIXING THE MASSIVE LOCKS FOUND TO HAVE LEAKS LAST FALL. 
STRONG U.S. DOLLAR DROPS:
THE U-S DOLLAR POSTED ITS BIGGEST TWO DAY DROP IN NEARLY 7 YEARS THIS WEEK.  THE WEAKNESS IS OVER CONCERNS ABOUT GLOBAL  DEMAND AND THE FEDERAL RESERVE'S RESPONSE TO SLOW GROWTH WORLD WIDE.  
DROUGHT IN SOUTH AFRICA KILLS 25 PERCENT OF COUNTRIES FOOD PRODUCTION:
SOUTH AFRICA IS LOOKING AT RECORD WHEAT AND CORN IMPORTS.  THAT'S AS THE COUNTRY FACES ONE OF THE WORST DROUGHTS ON RECORD, KNOCKING OUT 25 PERCENT  OF THE COUNTRY'S PRODUCTION.  USDA PEGS CORN IMPORTS AT 3 MILLION TONNES, TWICE THE AMOUNT ORIGINALLY FORECAST.   BRAZIL SOYBEAN HARVEST LOWER THAN ANTICIPATED BUT STILL RECORD CROP:
BRAZIL IS LOOKING AT A LOWER SOYBEAN HARVEST THIS YEAR. THE COUNTRY'S OFFICIAL CROP BUREAU CUT ITS SOYBEAN FORECAST BY 1 POINT 18 MILLION TONNES,  TO JUST UNDER 101 MILLION TONNES. MOST OF THAT COMING FROM MATO GROSSO'S VOLATILE WEATHER.   WHILE LOWERED, IT WOULD STILL BE A RECORD CROP. 
NATIONAL WEATHER:
THOSE ARE THE HEADLINES...METEOROLOGIST MIKE  HOFFMAN JOINS US NOW WITH WEATHER. MIKE, SOME  PRETTY SEVERE WEATHER FOR MANY OF OUR VIEWERS THIS PAST WEEK. DO WE GET A BREAK NEXT WEEK?   
THANKS, TYNE. THE SHORT ANSWER IS YES, BECAUSE WE WON'T SEE  ANY SEVERE THUNDERSTORMS THIS WEEK AND WE ARE NOT GOING TO  SEE A BLIZZARD. HOWEVER, THE EASTERN TWO-THIRDS OF THE COUNTRY GOING TO BE VERY COLD IN SOME AREAS, ESPECIALLY THE GREAT LAKES  IS GOING TO GET A LOT OF SNOW AND MAYBE THE NORTHEAST AS WELL.  
DROUGHT MONITOR:
DROUGHT MONITOR SHOWS THE ONLY PROBLEM AREA OUT WEST DOESN'T  REALLY WANT TO IMPROVE TOO MUCH, BUT IT IS SLOWLY,EVER SO SLOWLY SHRINKING, THE EXTREME AND EXCEPTIONAL DROUGHT AREAS, BUT A HUGE DIFFERENCE COMPARED TO WHAT WE HAVE SEEN THE PAST COUPLE OF YEARS, NO REAL ISSUES WITH DROUGHT, MOST OF THE EASTERN  TWO-THIRDS OF THE COUNTRY.
TEASE:
WE WILL BE BACK IN OUR NEXT HALF HOUR WITH A LONGER RANGE OUTLOOK.   THANKS, MIKE. WITH SO MUCH TRAVEL RECENTLY, JOHN  PHIPPS WAS KIND ENOUGH TO TAKE OVER MY ROUNDTABLE DUTIES FROM NORTH DAKOTA THIS WEEK.   SO, AFTER THE BREAK, WE'RE OFF TO FARGO FOR THE NORTH DAKOTA SOYBEAN EXPO >
ROUNDTABLE 1:
GOOD MORNING AND WELCOME TO FARGO, NORTH  DAKOTA, IM JOHN PHIPPS STANDING IN, NO SITTING IN FOR TYNE MORGAN, HERE FOR THE ROUND TABLE AT  THE NORTHERN SOYBEAN EXPO.  AND WITH US WE HAVE TOMMY GRISAFFI FROM ADVANCE TRADING, WE HAVE DWAYNE BOSSE AND WE HAVE MIKE NORTH.  AND WE'LL GET TO OUR QUESTIONS RIGHT AWAY BUT I THINK GENTLEMEN, LET'S START WITH THE ELEPHANT IN THE  ROOM , LITTLE JOKE THERE.  WHAT IS AT STAKE FOR AGRICULTURE DO YOU THINK, IN THIS ELECTION CYCLE? WE'RE OFFICIALLY INTO IT.  WELL REGARDLESS OF YOUR POLITICAL VIEWS ARE YOU CAN'T GET AWAY  FROM IT.  AND SO WE ALL HAVE A POLITICAL  CONNECTION AND IT'S†?? THERE WAS AN INTERESTING  TURN OF EVENTS THIS WEEK, AND YOU KNOW, THE  AMERICAN PUBLIC GOT TO VOICE THEIR OPINION, AND  WHAT I LEARNED, AND WHAT I THINK IT WILL TIE INTO AGRICULTURE IS NOT MATTER HOW LOUD AND OBNOXIOUS YOU ARE OR HOW MUCH MONEY YOU SPEND ON AN ELECTION, THIS IS STILL AMERICA AND THE PEOPLE VOTED. 
DAIRY FARMERS WATCHING FOR DEVELOPMENTS ON IMMIGRATION LAWS THIS ELECTION:
AND SO BEING THE LOUDEST GUY ON STAGE DOESN'T  ALWAYS MEAN YOU'RE GOING TO WIN, ANDÖ  >> WHY, WHOEVER COULD YOU MEAN, TOMMY?  (LAUGHTER)  >> I HAVE NO IDEA, BUT WE ALL HAVE SOMETHING AT STAKE, AND THIS ELECTION'S MORE IMPORTANT THAN  ANYONE IN YOUR LIFE, IN MY OPINION.  >> WELL, THERE ARE SOME SERIOUS THINGS AT STAKE, AND, MIKE, I KNOW DAIRY FARMERS ARE WATCHING  THIS VERY CLOSELY.  >> ABSOLUTELY, ONE OF THE BIG ISSUES AMONG THE DAIRY INDUSTRY IS IMMIGRATION AND BEING ABLE TO MAKE SURE THAT WE HAVE A STABLE, ONGOING WORK FORCE AS WE MOVE FORWARD, AND THE REALITY OF IT IS THERE HAVE BEEN TOO MANY THINGS  SUPPLANTING THAT IN THE RECENT   YEARS THAT GIVE GREAT CONCERN AS WE GO  FORWARD OVER WHAT THOSE NEW TO LEGISLATION†??   LEGISLATIVE ACTIONS MIGHT LOOK LIKE AND WHAT COMES FROM THE TOP DOWN ON THAT PARTICULAR ISSUE ALONE. 

TRADE PARTNERSHIPS:
 AND THE OTHER THING, I THINK, ESPECIALLY FOR  SOYBEAN GROWERS HERE TODAY, TRADE.  HOW WE CONDUCT FOREIGN RELATIONS HAS A BIG IMPACT ON WHO WANTS TO TRADE WITH US.   YEAH, THAT'S CORRECT. ESPECIALLY UP IN NORTH DAKOTA MOST OF OUR SOYBEANS GO STRAIGHT OVER TO THE PNW AND  DIRECTLY TO CHINA, SO OBVIOUSLY IF WE HAVE A LEADER IN OFFICE THAT IS GOING TO HAVE GOOD  RELATIONSHIPS WITH OUR TRADING PARTNERS, THAT WILL MEAN GOOD THINGS FOR US AS PRODUCERS AS WELL. 

CRUZ VIEWS:
>> NO, I†?? SENATOR, CRUZ, IT WAS FASCINATING TO WATCH IN THE ELECTION. HE CAME ACROSS WITH A LOT OF POISE THE LAST FEW DAYS, AND HE STARTED TALKING SOFTLY. AND WHEN TRUMP GOT LOUDER CRUZ GOT SOFTER, AND I THINK PEOPLE HEARD THAT VOICE AND THEY RALLIED AROUND HIM, AND I THINK HE CHANGED HIS VIEWS ON ETHANOL.  I'D IMAGINE YOU'D HAVE TO IF YOU'RE DRIVING THROUGH IOWA AND HITTING ALL 99 COUNTIES.   DID HE? 
DID HE CHANGE HIS VIEWS?  WELL, PERSONALLY, HONESTLY, I'M NOT LISTENING TO TOO MUCH OF WHAT THEY SAY RIGHT NOW BECAUSE PROMISES RIGHT NOW DON'T MEAN A WHOLE  LOT ONCE THEY GET INTO OFFICE.  I'M A LITTLE NERVOUS, I GUESS, ON HIS ETHANOL STANCE, TO BE HONEST WITH YOU.   RIGHT.  AND I WOULD AGREE.  I THINK AT THIS POINT IN TIME THEY'RE ALL A LITTLE BIT  CHAMELEON ON SOME OF THOSE ISSUES, AND THE REALITY IS, IS WHEN YOU'RE IN IOWA YOU'RE A FAN OF ETHANOL IF YOU'RE RUNNING FOR A POLITICAL OFFICE.  OIL:
WE NEVER THOUGHT WE WOULD BE SAYING THIS, BUT IS THIS OIL IN THE $30 RANGE, IS IT ACTUALLY HURTING THE GLOBAL ECONOMY?  AND THAT'S†?? SOME ECONOMISTS ARE SAYING IT'S  KILLING COMMODITIES.  MIKE?   ABSOLUTELY.  I THINK AS YOU LOOK AROUND IN DEVELOPING COUNTRIES THAT RELY ON OIL AS A REVENUE   SOURCE†??  YEP.  THEY'RE IN TROUBLE.  THEY DON'T HAVE THE WALLET THAT THEY DID A FEW  YEARS AGO, AND AS WE LOOK AT WHAT IT MEANS TO OUR INTERNAL INFRASTRUCTURE. 

ETHANOL:
YOU TALK ABOUT ETHANOL, PLANT PROFITABILITY IS  BELOW THE ZERO LINE WHEN YOU LOOK AT THE   FORECAST AHEAD.  THE REALITY IS IF YOU'RE A CORN FARMER THAT'S NOT GOOD NEWS. AND AS YOU TALK ABOUT WHAT'S GOING  ON JUST IN THE STATE OF NORTH DAKOTA, AND WHAT'S HAPPENED IN THE BALKAN AND ALL OF THE ACTIVITY  THAT WAS ONCE THERE. 
WE'RE RIGHT BACK WITH MORE U.S. FARM REPORT.  ROUNDTABLE 2:
 WELL, WE'RE BACK IN FARGO AT THE NORTHERN SOYBEAN EXPO WITH TOMMY, DUWAYNE AND MIKE.  AND WE JUST MENTIONED THE ÌDÎ WORD, AND AT THE TOP PRODUCERS SEMINAR LAST WEEK,  TOMMY, A GUY CAME OUT AND SAID, IT LOOKS LIKE 2012 AGAIN, $6.50 CORN, AND THAT WAS EVERYTHING, THAT'S  ALL PEOPLE REMEMBERED.  IS THAT ROLLING ACROSS THE MINDS OF A LOT OF THE FARMERS YOU KNOW?   YEAH. 
WELL, YOU TELL ME THE DIFFERENCE BETWEEN STUPID AND ILLEGAL AND WE COULD POSSIBLY HAVE HIM  ARRESTED, YOU KNOW. 

AND WE'LL BE BACK WITH MORE FROM U.S. FARM REPORT IN JUST A MOMENT. 
MARKETS NOW:
NOW BACK FOR MARKETS NOW.  TOMMY GRISAFFI?   WELL, IT'S BEEN A PLEASURE TRAVELING ACROSS  AMERICA.  IN THE LAST 12 DAYS I'VE BEEN TO 12 STATES WITH MY  PARTNER, DAVE FOGLE, AND EVERY ONE OF YOU COME  TO US WITH THE SAME PROBLEM-- YOU'RE CAUGHT  LONG.  LET'S NOT KID OURSELVES WHAT YOUR POSITION IS.  THE WHOLE WORLD KNOWS IT. THERE'S PEOPLE OUT THERE TO HELP YOU. NUMBER ONE PERSON'S GOING TO HELP YOU IN THIS ROOM IS YOURSELF.  IDENTIFY THE PROBLEM, MOVE ON. WE'RE A LOT CLOSER TO PLANTING '16 THAN WE ARE  OF, YOU KNOW, WE'RE GETTING THERE.  DUWAYNE?    ON THE SAME LINES AS WHAT TOMMY SAID.  YOU KNOW, I HAVE GONE ON RECORD SAYING THAT I AM A BELIEVER IN SOME SORT OF WEATHER EVENT SCARE FOR 2016, BUT ON OUR FARM I'M NOT GOING TO HOLD 2015 BUSHELS ALL THE WAY INTO THAT WEATHER SCARE. 
JOHN’S WORLD:
NOW, JOIN REJOINS US  FOR A LOOK INSIDE HIS WORLD BEAR WITH ME ON THIS ONE. I HOPE AT LEAST A FEW OF  YOU HAVE SEEN THE HISTORIC FOOTAGE OF A SPACEX  ROCKET LANDING LAST YEAR AND THE ALMOST  SUCESSFUL ATTEMPT TO REPEAT THE FEAT AT SEA. 
THAT CHALLENGE FAILED AS A LANDING STRUT  COLLAPSED, BUT FOR MANY OF US ELDERLY NERDS,   EVEN COMING THAT CLOSE IS ELECTRIFYING. IT'S NOT JUST THAT MAKING ROCKETS RE-USABLE WILL LOWER  THE COST OF SPACE FLIGHT BY AN ORDER OF MAGNITUDE, OR EVEN THE IDEA OF GUIDING A ROCKET  VERTICALLY BACKWARDS TO A SOFT LANDING ON A  FOOTBALL-FIELD SIZED, UNMANNED RAFT HEAVING ON  THE HIGH SEAS.  NO, THIS PRIVATELY FINANCED TECHNOLOGICAL LEAP IS THE VISUAL FULFILLMENT OF A FUTURE MANY OF US DREAMED OF AS WE DEVOURED PULP SCIENCE FICTION  AND WATCHED CHEESY SPACE MOVIES IN OUR MID-TWENTIETH CENTURY YOUTH.  
TEASE:
THANKS, JOHN. ALSO, IF YOU'LL BE AT THE NATIONAL FARM MACHINERY SHOW NEXT WEEK, JOHN AND I WILL  BOTH BE THERE FOR OUR U.S. FARM REPORT TAPING.   THAT HAPPENS THURSDAY AT 2:30 EASTERN WE HOPE  TO SEE YOU THERE.  UP NEXT, THE EXTREME VOLATILITY IN THE CATTLE MARKETS HAS TOP OFFICIALS ASKING C-M-E WHY. WE'LL INVESTIGATE AFTER THE BREAK. 
SECOND HALF OF THE SHOW OPENING HEADLINES:
FROM THE STUDIOS OF FARM JOURNAL BROADCAST, THIS IS U.S. FARM REPORT.   IT'S A CATTLE MARKET CONUNDRUM AND NOW  OFFICIALS ARE PRESSING C-M-E TO ANSWER WHY.  WE'LL GIVE YOU A SLICE OF AMERICANA, WHEN ANDREW  MCCREA SHARES THE STORY OF CLABBER GIRL IN  AMERICAN COUNTRYSIDE.   AND A VIEWER HAS A QUESTION FOR JOHN ABOUT TRADE. 

CHEMCHINA BUYS SYNGENTA FOR 43 BILLION DOLLARS:
NOW FOR THE HEADLINES, MORE CONSOLIDATION WITHIN THE AG INDUSTRY, BUT THIS TIME, IT'S A CHINESE BASED COMPANY JUMPING HEAD FIRST INTO THE SEED BUSINESS.   CHEMCHINA ANNOUNCING ITS BUYING SYNGENTA WITH  A  43 BILLION DOLLAR CASH OFFER.   SYNGENTA SAYS THE EXISTING MANAGEMENT WILL  STAY IN PLACE AND CONTINUE TO BE BASED IN   SWITZERLAND, WITH OFFICES IN THE U-S.   THE DEAL STILL HAS TO CLEAR REGULATORY HURDLES, BUT SYNGENTA OFFICIALS SAY IT'S UNLIKELY   SYNGENTA WILL NEED TO DIVEST PART OF ITS BUSINESS.  NATIONAL SECURITY IN QUESTION WITH TAKEOVER:
THERE ARE ALSO QUESTIONS ABOUT NATIONAL  SECURITY AND WHETHER THE COMPANY'S LOCATIONS   WOULD BE TOO CLOSE TO U.S. MILITARY BASES.  IN RESPONSE, THE NATIONAL FARMERS UNION  EXPRESSED CONCERN OF SUCH A MOVE SAYING,   QUOTE, IN THIS CASE, SYNGENTA WOULD BE OWNED BY A COMPANY CONTROLLED BY THE CHINESE  GOVERNMENT.
CHINA APPROVES ROUNDUP READY TO EXTEND SOYBEANS:
SPEAKING OF CHINA, MONSANTO RECEIVING CHINESE  APPROVAL FOR ITS ROUNDUP READY 2 EXTEND 
SOYBEANS THIS WEEK.  THAT MEANS THE PRODUCT THAT HAS RESISTANCE TO  BOTH ROUNDUP AND DICAMBA WILL BE AVAILABLE OF RTHE 2016 GROWING SEASON.  EVEN THOUGH IT CLEARED HURDLES IN CHINA, THE USE  OF DICAMBA OVER THE TOP STILL IS WAITING EPA APPROVAL.  BUT MONSANTO COMPANY SAYS YOU CAN USE DICAMBA  AS A BURNDOWN, BUT ACCORDING TO THE LABEL, IT  MUST BE DONE 30 DAYS PRIOR TO PLANTING.  

EPA ADMINISTRATOR TESTIFIES:
EPA ADMINISTRATOR GINA MCCARTHY BEING ASKED TO TESTIFY IN FRONT OF CONGRESS NEXT WEEK.  THE HOUSE HEARING IS TO LOOK AT THE AGENCY'S  POSSIBLE OVEREACH, AND IMPACTS ON THE RURAL   ECONOMY.  THE HOUSE AG COMMITTEE SAYS MCCARTHY WILL BE ASKED TO EXPLAIN HER RECENT DECISIONS.  
BAYER FIGHTS TO KEEP INSECTICIDE ON STORE SHELVES:
SPEAKING OF EPA, BAYER CROP SCIENCE IS TELLING  THE AGENCY IT WILL NOT VOLUNTARILY PULL IT'S BELT INSECTICIDE FROM SHELVES. EPA SAYS IT'S WORRIED ABOUT ITS IMPACT ON INVERTEBRATES THAT LIVE IN THE SEDIMENT ALONG  RIVERS, LAKES AND STREAMS.  COTTON UNELIGIBLE FOR MORE COVERAGE:
COTTON WON'T BE ELIBILE FOR P-L-C OR A-R-C  PAYMENTS. THAT'S DESPITE EFFORTS BY CERTAIN AG   GROUPS, INCLUDING FARM BUREAU, TO CONVINCE AG  SECRETARY TOM VILSACK TO CLASSIFY THE CROP AS  AN OILSEED. 
CAUSE OF FIRE THAT DEVASTATED KENTUCKY STOCK YARD STILL A MYSTERY:
IT WAS A SAD DAY IN KENTUCKY LAST WEEK WEEKEND,  AS THE BLUE GRASS STOCKYARDS SUFFERED A   MASSIVE FIRE.   IT'S STILL UNDETERMINED WHAT CAUSED THE 70 YEAR-OLD STRUCTURE TO BURN TO THE GROUND.   UNIVERSITY OF KENTUCKY SAYS NOW MANY  LIVESTOCK PRODUCERS ARE LEFT WITHOUT A PLACE   TO MARKET THEIR CATTLE.
NATIONAL WEATHER:
THOSE ARE THE HEADLINES...METEOROLOGIST MIKE HOFFMAN JOINS US NOW WITH WEATHER. MIKE, HOW'S FEBRUARY SHAPING UP?   WELL, TYNE THANK YOU VERY MUCH. WE ARE DEFINITELY LOOKING AT AN ACTIVE WEATHER PATTERN FOR THE NEXT TEN DAYS OR SO AND THEN WE KIND OF GO ZONAL WITH MILD WEATHER FLOODING MOST OF THE LOWER 48 TO END FEBRUARY.
USDA RELEASE CATTLE INVENTORY REPORT:
THANKS, MIK. USDA JUST RELEASING ITS SEMI ANNUAL CATTLE INVENTORY REPORT.  IT SHOWS THE THE NATION'S HERD NOW AT 92 MILLION  HEAD.  THAT'S THREE PERCENT HIGHER THAN A YEAR AGO...AND THE LARGEST CATTLE HERD SINCE 2011.  HERD REBUILDING, GLOBAL TRADE, AND MARKET  ACCESS WERE ALL BIG TOPICS AT THIS YEAR'S CATTLE   INDUSTRY CONVENTION HELD LAST WEEK IN SAN DIEGO  CALIFORNIA. 
BUT THE BIGGEST ISSUES FOR ATTENDEES...PRICES AND VOLATILITY. CLINTON GRIFFITHS WAS ON SITE LAST  WEEK AT THE CONVENTION WHERE EVEN THE C-M-E  SHOWED TO DISCUSS TRADE IN 2015.
 
 
TEASE:
WHEN WE COME BACK, JOHN PHIPPS.   THIS WEEK'S CUSTOMER SUPPORT TOPIC IS TRADE.  HERE'S JOHN PHIPPS.  
CUSTOMER SUPPORT:
WESLEY MONTGOMERY FROM LOUISVILLE, KENTUCKY  ASKS ABOUT TRADE AND SELF-SUFFICIENCY.  "I'M CONFUSED AS TO WHY IT IS THAT WE AS  AMERICANS CAN RAISE CATTLE POULTRY PORK AND   CROPS IN A MANNER TO WHICH WE CAN SUPPLY AND  SELL AMONG OURSELVES AND KEEP OUR DOLLARS AT HOME. YET WE SELL TO EXPORTERS AND SEND OUR  PRODUCTS OUT OF THE COUNTRY TO MAKE MORE  MONEY AND THEN BUY BACK SOME OF OUR OWN PRODUCT AT A HIGHER PRICE IN THE NAME OF  IMPORTS. JUST AS PEOPLE SAY ABOUT OIL WHY DON'T  WE BECOME SELF SUFFICIENT AND BUY OUR OWN  PRODUCT."  THE TEXTBOOK ANSWER FOR YOUR QUESTION IS THAT TRADE ALLOWS NATIONS TO PRODUCE THE GOODS AND  SERVICES THEY ARE MOST EFFICIENT AT AND EXHANGE  THEM FOR STUFF THEY CAN'T MAKE AS EASILY. IN THE  END BOTH COUNTRIES ARE BETTER OFF. SELF-SUFFICIENCY IS A SURE PATH TO ECONOMIC  STAGNATION AND LOWER STANDARDS OF LIVING. THINK  OF NORTH KOREA.   THIS BEDROCK BELIEF OF MODERN ECONOMICS HAS MOUNDS OF DATA AND MATH TO BACK IT UP, BUT JUST IN THE LAST FEW MONTHS SOME NEW SURPRISING NEW  STUDIES ARE ADDING AN ASTERISK TO THIS DOGMA OF  ECONOMICS.  TEASE:
THANKS, JOHN. SEND ANY QUESTIONS OR COMMENTS TO JOHN BY EITHER EMAIL, OR FACBOOK OR TWITTER. 
WHEN WE COME BACK, IT'S A BAKING POWDER BRAND  THAT'S PROBABLY IN YOUR CUPBOARD, BUT HOW THE FAMILY GOT THEIR START IS PRETTY INTRIGUING.  
ANDREW MCCREA HAS THAT STORY WHEN WE COME  BACK.  
THE HYPE AROUND THE SUPERBOWL IS MORE ABOUT  THE ADVERTISEMENTS THAN THE ACTUAL GAME. LAST  YEAR, 4 MILLION DOLLARS WOULD BUY YOU A 30 SECOND AD. 8 MILLION FOR 60 SECONDS. WELL, BACK IN  THE 1800S, YOU DIDN'T HAVE TELEVISION COMMERCIALS  TO HELP BUILD A BRAND, IT WAS MUCH MORE  DIFFICULT. THAT DIDN'T STOP CLABBER GIRL, A  POPULAR BAKING ITEM THAT DATES BACK TO HE 1800S.  THIS WEEKEND, ANDREW MCCREA TAKES US TO TERRA HAUTE, INDIANA TO SHOW US A SLICE OF AMERICANA  THAT STILL LIVES ON TODAY.  
IN THE EARLY 1800S, FRANCIS HULMAN IMMIGRATED FROM GERMANY  
TRAVELING THE COUNTRYSIDE IN TERRE HAUTE, INDIANA - I'M ANDREW MCCREA." 
TEASE:
THANKS, ANDREW. YOU CAN HEAR MORE OF ANDREW'S  STORIES ON MY FARM RADIO OR BY VISITING AMERICAN  COUNTRYSIDE DOT COM.  AL PELL JOINS US WHEN WE COME BACK . 
TRACTOR TALES:
WELCOME BACK.  THIS WEEK'S TRACTOR IS TURBO  CHARGED AND READY FOR WORK.    ONE OF JUST 84 HUNDRED BUILT, THIS FARMALL 1206 HAS JUST THE RIGHT POWER TO GET ANY JOB DONE.  AND THAT'S PERFECT FOR THIS RETIRED COLLECTOR WHO STILL LOVES TO FARM. 
CHURCH SALUTES:
THIS WEEK, WE ARE PAYING TRIBUTE TO THE  FRIENDSHIP BAPTIST CHURCH OF MOUNTAIN GROVE,   MISSOURI. THE CONGREGATION CELEBRATED 150  YEARS IN 2015. A SPECIAL THANKS TO WILDA TODD FOR SHARING THEIR CHURCH WITH US.  
TEASE:
PLEASE STAY WITH US, WE HAVE SOME GREAT VIEWER  PHOTOS COMING UP IN CROPWATCH AFTER THE BREAK.  
 CROP WATCH:
WELCOME BACK. A MASSIVE SNOWSTORM SWEPT ACROSS THE ROCKIES, PLAINS AND EVEN GREAT LAKES THIS WEEK, LEAVING MAJOR INTERSTATES CLOSED, AND SHUTTING DOWN AIPORTS. BUT OUR VIEWERS MADE THE BEST OF IT.   KENNY TOLD US AFTER THE WIND CALMED DOWN, THE  KIDS WERE ABLE TO PLAY. HE'S IN NORTHEAST   NEBRAKSA WHERE WIND GUSTS PUSHED PASSED 50 MILES PER HOUR IN SOME PLACES.
CLOSING:
  FOR JOHN, AL AND MIKE, I'M TYNE MORGAN. THANK  YOU FOR WATCHING U-S FARM REPORT.  BE SURE TO JOIN US RIGHT HERE AGAIN NEXT WEEK, AS WE WORK TO BUILD ON OUR TRADITION. HAVE A GREAT WEEKEND, EVERYONE.  

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