USFR Weekly Recap - January 10-11, 2015, 2014, 2015, 2015

January 10, 2015 03:30 AM
 

TODAY ON USFR
JANUARY 10-11, 2015

HEADLINES:
WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN, AND HERE'S WHAT WE'RE WORKING ON FOR YOU THIS WEEKEND. PEDV PROBLEMS WE HAVE AN UPDATE TO THE FATAL PIG VIRUS.
AND A STARTING REALIZATION ABOUT THE SOURCE OF IT ALL…COMBAT ZONE-- A HISTORY LESSON ON THE WAR IN THE PACIFIC. WE'LL SEE THE PRICE OF FREEDOM THROUGH THE EYES OF A TOP MILITARY LEADER DURING WORLD WAR II, AND IN JOHN'S WORLD...
USDA REPORT:
NOW FOR THE HEADLINES, THE U-S DEPARTMENT OF AGRICULTURE IS SLATED TO RELEASE ITS LATEST CROP PRODUCTION REPORT MONDAY. SOME EARLY ESTIAMTES POINT TO A GROWING CORN AND SOYBEAN CROP…
OIL:
U-S OIL STOCKPILES DROPPED THIS WEEK, SPURRING A SLIGHT PRICE SPIKE. BUT THAT'S NOT BEFORE DIPPING DOWN TO THE 48 DOLLAR MARK. THE ENERGY INFORMATION ADMINSTRATION SAID FOR THE WEEK ENDING JANUARY SECOND, CRUDE STOCKPILES SHRANK TO 382 MILLION BARRELS, THAT'S A DROP OF ABOUT 3 MILLION BARRELS.
TRADE DEFICIT:
MEANWHILE, THE TRADE GAP NARROWED TO ITS LOWEST LEVEL IN NEARLY A YEAR BASED ON FALLING PRICES, AS WELL AS SOFTER OIL IMPORTS. THE TRADE DEFICIT FELL 7 POINT 7 PERCENT IN NOVEMBER. THAT MARKS THE SMALLEST NUMBER SINCE DECEMBER 2013 AND BEAT EXPECTATIONS.
EURO:
THE EURO SANK TO A NINE-YEAR LOW THIS WEEK. THAT'S OVER FEARS ABOUT GREECE'S ECONOMIC SITUATION. A NEW REPORT SHOWED LEADERS NO LONGER THINK DROPPING GREECE'S CURRENCY IS TOO RISKY. THE EURO TRADING AT $1.18  IT HASN'T BEEN THAT LOW SINCE DECEMBER 2005.
PITCH TO MIKE:
THOSE ARE THE HEADLINES.. NOW WE'LL SEND IT OVER TO METEOROLOGIST MIKE HOFFMAN FOR WEATHER. MIKE, I WAS HOPING YOUR BRUTALLY COLD WINTER FORECAST WAS WRONG. BUT IT'S COMING TRUE…AND I DON'T LIKE IT.
TEASE ONE:
THANKS, MIKE. WELL, WE HAVE A BIG USDA REPORT COMING UP NEXT WEEK. SO, WHAT SHOULD WE EXPECT? BRIAN ROACH AND TED SEIFRIED JOIN ME TO DISCUSS RIGHT AFTER THE BREAK.
JOHN’S WORD:
THE TOPIC OF THE DAY IN MUCH OF FARMLAND IS THE NEW FARM PROGRAM. AG ECONOMISTS ARE BARNSTORMING THE COUNTRY, HOLDING MEETINGS WHERE THEY DAZZLE PRODUCERS WITH SPREADSHEETS, GRAPHS, AND INFORMATION. UNIVERSITY EXPERTS, AG JOURNALISTS AND MARKET ADVISORS HAVE EXHAUSTIVE WORDS OF GUIDANCE AND INTRICATE COMPUTER DECISION AIDS. IN FACT, THE DRAMA OF MAKING THE CORRECT CHOICE HAS BEEN A GODSEND FOR THE MEDIA, AS WE GENERATE STORY AFTER STORY ABOUT HOW TO CHOOSE, WHO IS CHOOSING WHAT AND HOW IT WILL AFFECT OUR FUTURES. THERE ARE SOME CROPS LIKE PEANUTS WHERE THE CHOICE IS CLOSE TO A NO BRAINER, BUT FOR MANY CORN, SOY AND WHEAT GROWERS THIS MOMENT OF DECISION IS PROVING TO BE BOTH FRUSTRATING AND A LITTLE WORRISOME. AFTER ALL, YOU ARE CHOOSING FOR FIVE YEARS. LOOKING BACK FIVE YEARS TO 2009, EVEN THE VAINEST FARMER WOULD HAVE TO ADMIT HE DIDN'T SEE WHAT WAS COMING. NOW THROW IN THE PROBLEM OF EXPLAINING A PROCESS YOU BARELY UNDERSTAND YOURSELF TO MULTIPLE LANDOWNERS AND GETTING THEM TO SIGN SOME SERIOUS-LOOKING OFFICIAL DOCUMENTS. I CAN'T RESIST POINTING OUT THAT SINCE WE NOW ARE CONFIDENT ALL SUBSIDIES SIMPLY GET FOLDED INTO THE PRICE OF LAND, WE COULD ALL SAVE A LOT OF TIME AND HASSLE BY NOT HAVING A FARM PROGRAM AND LETTING LAND BE VALUED BY WHAT IT CAN PRODUCE. AND THERE IS ALSO THE REAL POSSIBILITY THAT MOST PRODUCERS COULD NEVER GET A PAYMENT FROM THIS FARM BILL, OTHER THAN THE UNSEEN CROP INSURANCE SUBSIDIES. BUT IT'S TOO LATE FOR THAT, SO LET MY TRY TO HELP WITH MY 15-SECOND FARM BILL CHOOSER. THIS HANDY DECISION AID CAN REDUCE ALL THE HEADACHES TO ONE SIMPLE STEP. AFTER YOU COMPLETE IT, THE RIGHT PATH WILL BE OBVIOUS. AND HERE IT IS NOW: 1. PREDICT COMMODITY PRICES THROUGH 2018. AND IT'S JUST THAT EASY. SEE - THAT WASN'T SO BAD.
HEADLINES:
WE HAVE MUCH MORE AHEAD THIS WEEKEND ON U-S FARM REPORT. TAX TIPS WE HAVE SOME ADVICE TO PREPARE FOR THE UNKNOWN WITH SECTION 179. OUR FARM JOURNAL REPORT HAS SOME BREAKING UPDATES ON A DEADLY PIG VIRUS SWEEPING THE NATION.
AMERICAN COUNTRYSIDE GIVES US A GLIMPSE INTO HISTORY, BY REVISITING A MAJOR BATTLE ZONE. AND IN CUSTOMER SUPPORT, JOHN GETS TECHY AND TRIES TO EXPLAIN OUR NEW WEBSITE.
CONGRESS:
NOW FOR THE HEADLINES, CONGRESS IS BACK AT IT THIS WEEK, WITH THE G-O-P OFFICIALLY IN CONTROL. AND WHILE BOTH PARTIES HAD BIG GOALS ENTERING THEIR FIRST WEEK IN WASHINGTON, DISAGREEMENTS ARE MAKING HEADLINES ONCE AGAIN.
SD PIPELINE:
MEANWHILE, A NEW MULTI-STATE PIPELINE COULD BE BUILT IN THE MIDWEST
HERE'S THE PROPOSED ROUTE-- IT WOULD CARRY CRUDE OIL FROM THE BAKKEN OIL FIELDS IN NORTH DAKOTA, THROUGH SOUTH DAKOTA, IOWA AND TO AN EXISTING PIPELINE IN SOUTHERN ILLINOIS. RIGHT NOW AN APPLICATION FOR 'THE DAKOTA ACCESS PIPELINE' HAS BEEN APPROVED BY THE SOUTH DAKOTA PUBLIC UTILITES COMMISSION JUST THIS MONTH.
IF APPROVED, THIS WILL BE THE 2ND CRUDE OIL PIPELINE TO BE BUILT THROUGH SOUTH DAKOTA.
CA FROST:
IT'S NOT JUST DROUGHT FARMERS IN THE STATE ARE BATTLING. SUB-FREEZING TEMPERATURES HIT CALIFORNIA LAST WEEK, BUT THE CITRUS CROP LARGELY ESCAPED THE BITE.THA'S BECAUSE ABOUT A QUARTER OF THE NAVAL ORANGES WERE ALREADY HARVESTED. FOR SIX STRAIGHT NIGHTS STARTING NEW YEAR'S EVE, CITRUS GROWERS RAN WATER AND WIND MACHINES TO PROTECT THE CROP. MUCH BETTER THAN DECEMBER 2013 WHEN A FREEZE WIPED OUT 441 MILLION DOLLARS WORTH OF FRUIT..
WEATHER PITCH:
THAT'S IT FOR NEWS...METEOROLOGIST MIKE HOFFMAN HAS OUR LONG-TERM FORECAST. MIKE, DOES THAT INCLUDE SPRING YET?
FARM JOURNAL REPORT:
U-S PORK PRODUCERS ENDED 2014 ON A POSITIVE NOTE. THAT'S AFTER MANY BATTLED P-E-D-V. BUT THE FRIGHTENING PART IS EVEN AFTER A YEAR ENOUGH OF SEARCHING, WE MAY NEVER KNOW HOW THE VIRUS ENTERED OUR BORDERS. THAT'S TODAY'S FARM JOURNAL REPORT.
FARM JOURNAL REPORT TAG:
SUNDBERG DID TELL ME THAT EVEN THOUGH THEY MAY NEVER FIND THE ACTUAL SOURCE, THEY ARE LEARNING A LOT FROM THIS VIRUS, THAT COULD HELP IF A DIFFERENT OUTBREAK OCCURS UP NEXT, JOHN PHIPPS.
TEASE:
THANKS, JOHN. JUST SEND YOUR QUESTIONS AND COMMENTS TO MAILBAG AT U-S FARM REPORT DOT COM. WHEN WE COME BACK, WE'LL TAKE YOU TO A PLACE THAT BRINGS TEH WAR IN THE PACIFIC BACK TO LIFE. THAT'S AMERICAN COUNTRYSIDE WHEN WE RETURN.
AMERICAN COUNTRYSIDE WAR IN PACIFIC:
LEARNING ABOUT HISTORY IN A TEXT BOOK, IS ONE THING. BUT SEEING AND EXPERIENCING IT, BRINGS HISTORY TO LIFE. AMERICAN COUNTRYSIDE'S ANDREW MCCRAE TAKES US TO TEXAS TO REVISIT WORLD WAR II.
TRACTOR TALES:
LEARNING ABOUT HISTORY IN A TEXT BOOK, IS ONE THING. BUT SEEING AND EXPERIENCING IT, BRINGS HISTORY TO LIFE. AMERICAN COUNTRYSIDE'S ANDREW MCCRAE TAKES US TO TEXAS TO REVISIT WORLD WAR II.
CHURCH SALUTE:
TODAY'S COUNTRY CHURCH SALUTE GOES TO THE IMMANUEAL EVANGELICAL LUTHERN CHURCH IN HUTCHINSON, MINNESOTA. A GROUP OF SETTLERS STARTED THE CHURCH IN 1864. A LOG CHURCDH WAS USED FOR 20 YEARS. IN 1884 THEY BUILT A NEW BUILDING, THEN AGAIN, IN 1949, THE CURRECT CHURCH BUILDIGN WAS CONTRUCTED. THEY CURRENTLY HAVE NEARLY 240 MEMBERS AND CELEBRATED THEIR 150TH ANNIVERSARY LAST AUGUST. OUR THANKS TO PATTY FOR SHARING THEIR STORY….
GOODBYE:
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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