USFR Weekly Recap - January 14-15, 2017

January 14, 2017 03:30 AM
 
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TODAY ON U.S. FARM REPORT
JANUARY 14-15, 2017


HEADLINES
WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN,  AND HERE'S WHAT WE'RE WORKING ON FOR YOU OVER  THE NEXT 60 MINUTES. RECORD BREAKING YIELDS IN USDA'S LATEST REPORT,  BUT IT STILL SENT SOYBEAN PRICES SKYROCKETING.  WE'LL TELL YOU WHY.  BETTER YIELDS GIVING SOME FARMERS BUDGETS A  BOOST... <THERE IS SOME LEVEL OF OPTIMISM, BUT THERE'S DEFINITLEY CONCERN  GOING INTO THE 2017 CROP YEAR> IS THAT CONCERN TURNING INTO A FLOOD OF  REQUESTS FOR FSA LOANS? THAT'S OUR FARM  JOURNAL REPORT. WILL THE WE CONTINUE TO SEE RAIN OUT WEST? I'LL HAVE BOTH YOUR SHORT AND LONG TERM FOREASTS COMING UP. AND IN JOHN'S WORLD. <IS FARMLAND SLIPPING OUT OF CONTROL?  <U.S. FARM REPORT - BROUGHT TO YOU BY THE DEPENDABLE, LONG  LASTING, CHEVY SILVERADO.>

WASDE REPORT
NOW FOR THE NEWS THAT MOVED THE MARKETS THIS  WEEK, USDA HITTING THE MARKET WITH A SLEW OF  REPORTS, INCLUDING CONFIRMING U-S FARMERS  PRODUCED  RECORD CORN AND SOYBEAN YIELDS THIS  YEAR. YET, SOYBEANS STILL MANAGING TO SEE 20 CENT  GAINS AFTER THE REPORT.  USDA LOWERING THE 2016 NATIONAL CORN YIELD BY  LESS THAN A BUSHEL,  AT 174 POINT 6 BUSHELS PER  ACRE.  CORN PRODUCTION REACHING 15 POINT 1 BILLION  BUSHELS. THAT'S DOWN A PERCENT FROM THE  NOVEMBER FORECAST, BUT 11 PERCENT ABOVE 2015.  HERE'S A MAP WITH BLUE INDICATING ALL THE STATE  WITH HIGHER YIELDS COMPARED TO A YEAR AGO. .  THAT INCLUDES YIELD RECORD SET IN 8 STATES,  INCLUDING IOWA, NORTH AND SOUTH DAKOTA, AND  WISCONSIN.  AND THE SOYBEAN YIELD COMING IN AT 52 POINT 1  BUSHELS PER ACRE, DOWN ABOUT A HALF A BUSHEL  FROM NOVEMBER'S PROJECTION. AND PRODUCTION  REACHING A RECORD 4 POINT 3 BILLION BUSHELS. THT'S  DOWN A PERCENT FROM NOVEMBER, BUT UP 10  PERCENT OVER 2015. RECORD SOYBAN YIELD POSTED IN 14 STATES. BUT AS  YOU CAN SEE IN BLUE, 20 STATES BEAT LAST YEAR'S  YIELD.  HERE'S PROFARMER EDITOR BRIAN GRETE ON WHY THIS  TRIGGERED SUCH A BULLISH REACTION IN BEANS.  <THE CROP CAME IN LOWER THAN ANTICIPATED SURPRINGLY THERE. THE  ENDING STOCKS FORECAST WAS ALSO LOWER THAN ANTICIPATED AS WERE  DECEMBER 1 STOCKS. SO ALL THOSE NUMBERS WERE BULLISH AND WE  GOT A STRONG BULLISH REACTION IN THE SOYBEAN MARKET>

WINTER WHEAT WOES
AND WINTER WHEAT ACRES REALLY TAKING A BEATING.  USDA PEGGING U-S WINTER WHEAT PLANTINGS AT 32  POINT 3 MILLION ACRES. THAT'S DOWN MORE THAN 10  PERCENT FROM A YEAR AGO AND THE LOWEST WINTER  WHEAT ACREAGE SINCE 1909.  OKLHOMA STATE'S GRAIN SPECIALIST KIM ANDERSON TELLING US, WHEN YOU CONSIDER THE WIDESPREAD  DROUGHT IN THE SOUTHERN GREAT PLAINS,  HARVESTED WHEAT ACRES COULD DROP EVEN MORE.  <PRODUCERS WERE TALKING ABOUT IF THEY DON'T GET RAIN OVER THE NEXT  COUPLES WERES, THEY WERE GOING TO HAVE TO DESTORY THIS WHEAT  AND THEN COME IN WITH SUMMER CROPS, I THINK THAT'S A NUMBER  THAT THE MARKET HASN'T TAKEN INTO CONSIDERATION YET. > ANDERSON SAYS THIS COULD BE A BULLISH FACTOR  FOR WHEAT PRICES MOVING FORWARD. CHINA SLAPPING U-S DRIED DISTILLERS GRAINS WITH  EVEN BIGGER TARIFFS OVER THE NEXT 5 YEARS.  IN ITS FINAL RULING, THE COMMERICY MINISTRY SAYS  ANTI DUMPING DUTIES WILL RANGE FROM 42 PERCENT  TO 53 PERCENT. A JUMP FROM THE 33 PERCENT IN ITS  PRELIMINARY DECISION.  THE NEWS COMES JUST TEN DAYS AFTER CHINA  INCREASED TARIFFS ON IMPORTED U-S ETHANOL FROM  5 TO 30 PERCENT. 

MEAT EXPORTS SKYROCKETING
MEAT EXPORTS SKYROCKETING IN NOVEMBER, WITH  SHIPMENTS OF PORK EVEN SETTING RECORDS. THE LATEST NUMBERS FROM THE U-S MET EXPORT  FEDERATION SHOW NOVEMBER PORK EXPORTS WERE  UP 24 PERCENT OVER NOVEMBER OF 2015 AND TOPPING  A RECORD SET IN OCTOBER OF 2012. NOVEMBER BEEF EXPORTS ALSO STRONG, 20 PERCENT  ABOVE THE SAME TIME IN 2015.

TRADE RELATIONS WITH CUBA
OPENING TRADE RELATIONS WITH CUBA IS A PRIOTIY  FOR AMERICAN FARM BUREAU, AS DELEGATES  GATHERED IN PHOENIX FOR THEIR ANNUAL  CONVENTION THIS WEEK.  USDA'S ECONOMIC RESEARCH DIVISION TOLD  ATEENDEES  TRADE WITH CUBA COULD BRING AN  INREASE OF 1 BILLION DOLLARS PER YEAR IN AG  EXPORTS. THAT COMPARED TO THE 195 MILLION  DOLLARS IN SALES OF AG PRODUCTS THE U-S SAW IN  2016.  AND CUBA SIGNING A DEAL THIS MONTH FOR IT'S FIRST  LEGAL EXPORT TO THE U-S IN MORE THAN 50 YEARS, ..  ARTISANAL CHARCOAL.  IT'S MADE FROM AN INVASIVE WOODY PLANT.  <I DO HOPE THAT THE NEW ADMINISTRATION WILL LOOK AT THIS AT THE  OTHER DEALS THAT HAEVE BEEN ACCONPOMLISHED AND CAN BE  ACCOMPLISHED.> GILBERT'S COMPANY IS BUYING HTE CHARCOAL FROM  CUBA.  ARTISANAL CHARCOAL IS CLEAN BURNING AND OFTEN  USED IN PIZZA AND BREAD OVENS. 

BAYER MONSANTO TRUMP MEETING
BAYER AG AND MONSNATO WASTING NO TIME IN  MAKING THEIR CASE FOR A POSSIBLE MERGER TO  PRESIDENT ELECT DONALD TRUMP. CEOS FROM BOTH COMPANIES MET WITH TRUMP  WEDNESDAY IN NEW YORK. FOX NEWS REPORTING THE TWO EXECUTIVES  OUTLINED THE BENEIFTS OF THE DEAL. MEMBERS OF TRUMP'S AG ADVISORY COMMITTEE  SPOKE OUT AGAINST THE MERGERS ON THE CAMPAIGN  TRAIL, EVEN ASKING THE PRESIDENT-ELECT TO BLOCK  MAJOR MERGERS ON THE TABLE.  MONSANTO'S CEO SAYS A MERGER WOULD MEAN MORE  INVESTMENT IN RESEARCH AND DEVELOPMENT, IN  TURN, BENEFITTING FARMERS AND CREATING NEW  JOBS. 

WEATHER
AGRICULTURE'S NATIONAL FORECAST BROUGHT TO YOU BY THE LIBERTYLINK SYSTEM, ASIMPLY BETTER SOLUTION FROM BAYER.  THOSE ARE THE HEADLINES...METEOROLOGIST MIKE  HOFFMAN JOINS US NOW WITH WEATHER. MIKE.  MONSTEROUS RAINS STORMING ACROSS THE WESTERN  HALF OF THE COUNTRY THIS WEEK. I'M STILL AMAZED AT  THESE TOTALS FROM WASHINGTON TO CALIFORNIA.  YEAH THIS IS SOMETHING WE TALKED ABOUT LAST WEEK BELIEVE IT OR  NOT IT 'S ACTUALLY HELP THE DROUGHT MONITOR WE'VE SEEN  IMPROVEMENT THE LAST COUPLE MONTHS IN THE SOUTHEAST WE'RE  SEEING MORE IMPROVEMENT IN CALIFORNIA NOW LET 'S GO BACK A  MONTH AND LOOK AT HOW MUCH LARGER THE AREAS OF DROUGHT WERE ACROSS THE COUNTRY. WE'VE BEEN SHRINKING THE SOUTHEAST AND NOW  AS WE WATCH THE CHANGE OVER THE PAST MONTH WEEK A BYE WEEK  WATCH WHAT HAPPENS IN CALIFORNIA THAT OF AMAZING THAT WE SEE  THE WHOLE NORTHERN THIRD COMPLETELY DROUGHT FREE AND THE EXTREME AND EXCEPTIONAL DROUGHT AREAS CONTINUE TO  SHRINK. NOW WE STILL HAVE SOME ISSUES THERE 'S SOUTH CENTRAL  PLAINS ARE ALSO PARTS OF THE SOUTHEAST LET 'S GO  DAY BY DAY THIS  WEEK WE HAVE MORE STORM SYSTEMS COMING IN THIS WILL BE A BIG WET  SYSTEM MOVING THROUGH THE MIDDLE OF THE COUNTRY AS WE HEAD  THROUGHOUT MONDAY AND YOU CAN SEE MOST OF THE DRAW A LITTLE BIT  OF SNOW IN THE NORTHERN MOUNTAINS OF UH THE NORTHEAST AND ALSO  THE CENTRAL PORTIONS OF THE ROCKIES OTHERWISE LIKE I SAID SAID THIS  IS ALL PACIFIC AIR THE REALLY COLD ARCTIC AIR IS BOTTLED UP IN CANADA BY WEDNESDAY  THEN WE'LL SEE THAT FIRST SYSTEM MOVING THROUGH NEW ENGLAND.  SECOND ONE KIND OF RIDING ALONG   THIS WILL BE ANOTHER WET WEATHER MAKER FOR YOU FOLKS IN THE  SOUTHEAST TO KEEP SHRINKING THAT DROUGHT THERE. AND ANOTHER  SYSTEM COMING IN OUT WEST IT 'S REAL COLD AIR OUT WEST WAS SOME  OF THAT RUBBED A LOT OF THAT MEANS NO IN THE HIGHER ELEVATIONS. BY  FRIDAY THEN LOOK AT THIS IS JUST A STRING OF STORMS CONTINUE IN ONCE  WE GET RID OF THAT CUT OFF LOW IN THE SOUTHWEST WE JUST HAVE STORM SYSTEMS MOVING FROM WEST TO EAST ACROSS  THE COUNTRY. COMING UP ON OUR NEXT HALF HOUR. WE'LL CHECK OUT  YOUR LONGER RANGE FORECAST THANKS, MIKE.

TEASE
SO MANY USDA REPORTS TO BREAK  DOWN DURING OUR MARKETING DISCUSSION THIS  WEEK. THAT HAPPENS NEXT.  <WITH MARKET PRICES CONSTANTLY CHANGING, IT'S  IMPORTATN TO NOW WHERE CURRENT PRICES STAND.  GET MARKET PRICES DELIVERED RIGHT TO YOUR  MOBILE PHONE, JUST TEXT MARKETS TO 31313 TO GET  STARTED.>

ROUNDTABLE 1
WELCOME BACK ON THE ROUND TABLES WITH ME THIS WEEK DOUG WERLING OF BOWER TRADING AND BRAD MATTHEWS OF ROACH AG MARKETING. LOOKING AT THE USDA REPORT. I MEAN WE HAD A SLEW OF REPORTS THAT COME OUT BUT AT THE END OF THE DAY ON THURSDAY SOYBEANS ENDED HIGHER. CORN ENDED HIGHER AND WE IT HAD HIRED AN IN SUITE HAD QUITE A BIG JUMP. SO WHY DID WE SEE SUCH A BULLISH REACTION?? FROM THE TRADE WELL FIRST OFF THEY CUT THE CARRY OUT BY FIFTY MILLION BUSHELS MORE THAN WAS EXPECTED ON THE SOYBEANS SO THAT CAUGHT THE TRADE OFF GUARD.THE TRADE'S REALLY BEEN KIND OF BEARISH. IF YOU HAVE A LOT OF BEARISH SENTIMENT OUT THERE. AND YOU'RE SOME PEOPLE TALK. ABOUT SIX 50 BEANS. SO THAT YOU CAUGHT THE MARKET SHORT. AND IT WAS A MOST PEOPLE OUT IN THE MARKETS TRYING TO I THINK HONESTLY A BLOW EVERYBODY OUT WHO 'S BEEN AGGRESSIVE AGGRESSIVELY SELLING SOYBEANS. BECAUSE WHEN YOU LOOK AT THE THAT THE PRODUCTION NUMBERS AND YOU WILL GET A YIELD THAT WE ARE STILL LOOKING AT A RECORD CROP ON OUR HANDS. BUT IT 'S JUST AS THEY'VE BEEN DEMANDING EATING INTO OUR EATING AND OR STOCK??  HERE 'S THE THING THAT PEOPLE TALK ABOUT ENOUGH. IF YOU REMEMBER OF A DECADE AGO, WHEN WE WERE SHORT ON SUPPLY WERE TALKING HOW MUCH DEMAN WAS GOING EXPAND BETWEEN NOW AND TWENTY TWENTY, THAT 'S HAPPENED. SO WHEN YOU LOOK AT OUR GLOBAL PRODUCTION TO USE RATIO WAS NINETY EIGHT PER CENT. SO DOES MATTER WHAT STOCKS ARE WITH THAT SAYING IS WE KEEP GROWING THE CROPS WE NEED TO, BECAUSE YOU'RE ONLY TWO PERCENT ABOVE DEMAND. AND ANY LITTLE HICCUP WHEN YOU GET THE EXPLOSION OF PRICE. SO YET THERE WAS A LOT OF ANXIOUS SHORTS IN THE MARKET LOOKING FOR A NEGATIVE REPORT. THEY HAVE SINCE EXITED. THE MARKET HAS TO STAY SOMEWHAT ELEVATED OR THESE GUYS ARE GONNA GO IN PLANT BEANS IF THEY SELL OFF. AGGRESSIVELY. SO DO YOU THINK THAT THAT MARKET THEN THIS WEEK, DO YOU THINK ABOUT MORE SOYBEAN ACRES I DON'T KNOW IF IT'S TRYING TO HOLD ONTO WHAT IT WAS TRYING TO BUY. AND THAT'S WHAT'S GOING TO MAKE IT DIFFICULT  BETWEEN NOW AND SPRING TO BRING THE BEANS TO MARKET. SO IF WE DO SEE A BIG JUMP IN SOYBEAN ACRES LIKE MAYBE WE'RE THINKING IS THE DEMAND THERE CAN WE HANDLE THAT MUCH MORE PRODUCTION??  I THINK WE CAN. LIKE WE'RE TALKING ABOUT OFF AIR, WE GO THROUGH THE SAME THING EVERY YEAR. WE COME IN THE FIRST PART OF THE YEAR AND WE SAY WE'RE GOING TO PLANT ALL THE BEANS OR CARRY OUT THE HUGE PRICES BE LOWER SIX MONTHS TO CARRY OUT THIS APPEARS. THINGS ARE TIGHTER THAN THEY THAN THEY SHOULD ALREADY BEEN TIGHTER. AND IT HOLDS.  THAT IS AN ONGOING BASE UNDERNEATH IT DOESN'T CHANGE. WE OVERESTIMATE SUPPLY AND UNDERESTIMATE DEMAND. WE HAVE THE LAST DECADE. TO HIS POINT THEY CUT CARRY OUT BUT DIDN'T TOUCH WITH THEM AND WRITE DIRECT AND YES SOYBEAN DEMAND IS PROBABLY UNDERSTATED AND MOST LIKELY THROUGHOUT TIME LEARNING TO MAKE ADJUSTMENTS ON THAT. SO YOU THINK BRAD SOYBEAN PRICES COULD MOVE EVEN HIGHER FROM FROM HERE?? YEAH I DO. I MEAN IF I WAS A PRODUCER, I'D BE LOOKING IN THE TEN FIFTEEN A TEN SEVEN FIVE ERA IN NOVEMBER TO GET READY TO POTENTIALLY MAKE SOME SALES OR PUT ON SOME HEDGES. I'M ALMOST INCLINED MORE SO FOR GUYS TO PROTECT PRICES THROUGH HEDGES JUST TO GIVE THEMSELVES UP SIDE. THERE IS A LOT OF UNKNOWN ON HOW MANY ACRES ARE THERE GOING TO BE. WAS GOING HAPPEN IN SOUTH AMERICA. WHETHER WHAT HAPPENED THIS SUMMER THAT EVERY TIME YOU WANT TO GET BEARISH, IT ALWAYS ALMOST SEEMS TO BE WRONG. SO THAT THING PUT A FLOOR BUT DO NOT  AGGRESSIVELY CASH SELL BEANS YET. A CRASH BECAUSE I'VE HEARD FROM A LOT OF OUR VIEWERS TO SAY LAST YEAR GOT BURNED ON SELLING BEANS RIGHT. I SOLD ON A DOLLAR SOLD IN THE NINE DOLLARS RANGE SO WHY WOULD I WANT TO SELL BE THAT THIS BUT THIS PRICE BUT HERE 'S A DOG THAT WE COULD GO HIGHER. I'M PRETTY SURE THAT 'S ALREADY HAPPENED AGAIN. I MEAN WHAT WHAT DID THEY SELL OUT FIELD? SOYBEANS. IS A PRICE WAS BETTER IN THEIR HOME COURT.HIS IDEAS GOOD ANOTHER IDEA IS YOU CAN USE SELL IN DEFENSE STRATEGIES. WHERE YOU'RE EITHER SELLING THE BOARD AND AND DEFENDING THE UPSIDE OR YOU'RE SELLING YOUR CASH AND REPLACING IT WITH AN UPSIDE STRATEGY. SO THAT WAY IF SOMETHING DOES COME ALONG YOU HAVE PROTECTION. WHATEVER FITS YOUR NEEDS.  BECAUSE THE PRICES THERE SEEMS LIKE CORN  IS GIVING GETTING OVERLOOKED THIS POINT BRAD. THAT'S BECAUSE THE CORN MARKET IS BORING. T IT 'S NOT DOING ANYTHING YOU KNOW FOUR TWENTY THREE FOUR MONTHS MAY HAVE BEEN TRADING IN A RANGE. NOW THE THING THE PRODUCERS NOT TO BE READY FOR IS THAT MARKETS TRADE IN TWO PHASES. YOU HAVE A CONTRACTION AND EXPANSION. WHAT CORN'S BEEN DOING HAS BEEN IN THAT LITTLE BASE LIKE THIS AND IT IS CONTRACTING SO IT 'S NEXT MOVE IS EXPANSION. SO GOING INTO SPRING, I DO BELIEVE YOU'LL SEE MUCH HIGHER PRICES, BUT FOR RIGHT NOW HAS BURNS ON SUPPLY THAT THEY TOLD US, WE'RE PROBABLY NOT GOING ANYWHERE FOR ANOTHER 30 TO 60 DAYS. ALL RIGHT. WE NEED TO TAKE A BREAK BUT WHEN WE COME BACK WE'LL SEE. DOUG AGREES WITH THAT I MEAN WE HAVE NOT BEEN HEARING A LOT ABOUT THESE CORN PRICES. COULD THAT MEAN THAT A BULL MARKET MAY BE AHEAD WE'LL FIND OUT WHEN WE COME BACK ON U S FARM REPORT

ROUNDTABLE 2
ALL RIGHT WELCOME BACK IT WAS CORN MARKET HAS BEEN SOMETHING THAT WE'VE BEEN TALKING A LOT ABOUT BECAUSE LIKE BRET SAID IT 'S BEEN FAIRLY BORING WE HAVEN'T SEEN A LOT OF PRICE MOVEMENTS SO SINCE IT IS SO QUIET THERE DO YOU THINK MAY BE A BULL MARKETIS AHEAD??  BULL MARKET IS AHEAD IF YOU GET SOME TYPE OF DISRUPTION DOWN THE ROAD. A GOOD FRIENDLY MARKET, A MORE SUPPORTIVE SLOW DEMAND DRIVEN MARKET, YES. BECAUSE YOU'RE GONNA HAVE A PRODUCTION REDUCTION SO I LIKE TO CALL IT. IT NEEDS TIME THAT 'S THE FRUSTRATING THING ABOUT DEMAND MARKETS ISTHEY'RE GREAT. THEY SUPPORT PRICE IS WHEN MAYBE THEY SHOULD BE SUPPORTED SOME TIME BECAUSE SUPPLY IS SO BIG BUT THEY'RE ALSO SLOWER MOVER 'S TO HELP MARKETS GO HIGHER. SO PRICES WILL BE BETTER LIKE HE SAID, BUT THEY'RE NOT GOING GET OUT CONTROL UNLESS WE HAVE A HICCUP TO CRUNCH THAT SUPPLY REDUCTION. YOU'RE USED TO PRODUCTION RATIO GLOBALLY IN CORN TOWARDS NINETY NINE PERCENT SO LET 'S NARROW. SO WHAT DOES IT MATTER IF IT 'S IN THE U S IS ANYWHERE. SO WHAT A REASONABLE PRICE WE THINK IT 'S E FOR CORN?? AND I WOULD SIT THERE AND IT'LL GIVE THEM OPPORTUNITIES TO PROBABLY SELL SOME NEW CROP ABOVE FOUR. WHEN OLD CROP HITS THE THREE NINETY FOUR DOLLARS, THERE'S GOING TO BE A LOT OF CASH CORN BEING MOVED.  YOURE NOT TALKING FIVE DOLLARS CORN IS NOT THIS POINT NO. LOW FOURS. EVEN IF WE SEE A MASSIVE REDUCTION IN CORN ACRES??  I WOULD AGREE WITH HIM. THAT THE CORN ACRE REDUCTION HELPS PUT YOU IN SITUATIONS. ZERO FOUR DOLLARSBUT BECAUSE YOU HAVE SUCH A BURDENSOME SUPPLY TO GET MUCH ABOVE ME ON THEIR YOU NOW HAVE TO START TALKING YOU'RE REDUCTIONS. WEREWE'VE HEARD SOME WILD PROJECTIONS ALREADY THIS YEAR OR ABOUT PRICES ARE REALLY TO THE DOWNSIDE LIKE WE HEARD ONE ANALYST CALLED FOR SIX DOLLAR SOYBEANS. SIX DOLLARS SOYBEANS AND WHAT DO YOU SAY TO OUR VIEWERS OUT THERE HEARING THESE THESE MIXED MESSAGES ON WHERE PRICES COULD GO??BEFORE YOU MAKE ANY DECISIONS ON SELLING OUT A PANIC BECAUSE YOU HEAR THAT, MAKE SURE YOU DO YOUR RESEARCH. MAKE SURE YOU HAVE AN ADVISOR YOU CAN TALK TO. I DON'T THINK IT 'S FAIR TO THE AMERICAN FARMER HEAR THOSE THINGS IS WHAT HAPPENS IS THEY MAKE DECISIONS BASED ON THAT OUT OF FEAR AND PANIC AND THEY SELL AND THEN THEY USUALLY REGRET THOSE SALES. THERE'S A LOT OF MOVING PARTS TO THE BEAN MARKET. CURRENCIES IS A BIG ONE. YOU KNOW THE CHINESE CURRENCY IS BULLISH FOR BEANS RIGHT NOW. EVEN THOUGH THEY'RE DEFLATING THE CURRENCY, THE THOUGHT IS IF IT CAN BE LOWER SIX MONTHS FROM NOW WE BETTER KEEP PURCHASING NOW BEFORE THEY GET MORE EXPENSIVE. THE BRAZILIAN RIAL CURRENCY HAS BEEN A BULL MARKET FOR ALMOST A YEAR. THAT MAKES OUR BEANS MORE ATTRACTIVE. DO YOU THINK OUR OWN DOLLAR SPEAK TO ME WE REALLY THAT THAT THOSE HEADLIGHTS KIND OF CAR OR SECONDARY COMPARED TO USDA REPORT THIS WEEK BUT WE DID SEE THE U S DOLLAR RETREAT A LITTLE BIT CITY THINK THAT 'S PEAKED?? I THINK IT HAS A BIGGER CORRECTION IN IT TO SAY THAT THE HIGH IS I AND I'M NOT CONFIDENT TO SAY THAT BUT I DO THINK IS A BIT OF PRESSURE. WHEAT. A MASSIVE REDUCTION IN WHEAT ACRES IN THE LOWEST SINCE NINETEEN O NINE OF THEM WERE HEARING REPORTS IN THE SOUTHERN PLAINS DUG THAT IT 'S SO DRY THERE THAT HARVESTED ACRES THAT 'S GOING TO BE EVEN A LOT LOWER. SO CONSIDERING THE LOW WE ENCOURAGE DO THINK THERE 'S ROOM FOR WHEAT PRICES TO CLIMB HIGHER ??I DO GOING FORWARD. LOOKING THIS GOOD TO EXCELLENT RANGE. THE THING THAT 'S HAPPENING WORLDWIDE AND THE PRICE OF WHEAT WENT DOWN, STAYED DOWN, WENT DOWN FOR SO LONG, THAT NEEDSS TO DISCOURAGE THE WHOLE WORLD TO STOP GROWING WHEAT. WE'RE SLOWLY SEEN SOME OF THAT CHANGE NOW. BACK IN THE TWO THOUSAND SEVEN THE AREA WHERE WE JUST GOT SNOWBALL EFFECTS AND GOT CRAZY AND WE WENT HIGH,  YOU'RE IN A SIMILAR SITUATION. HOWEVER  THE THING THAT HAPPENED THERE 'S RUSSIA DOUBLED THEIR PRODUCTION. SO THEIR BIG PLAYER IN WHEAT. WE CAN HAVE A HIGHER PRICE WHEAT. IT'S PROBABLY GOING TO BE CLOSER TO A FIVE RANGE. IT 'S NOT TO BE GETTING OUTTA CONTROL. BUT THERE 'S DEFINITELY SOME POTENTIAL THERE. CAUSE IT TO SETTLE. OH IT WAS TEN YEAR LOWS AND PRICE. SO WHAT WHAT WHAT YOUR DOWNSIDE RISK IS WHAT I'M SAYING AT THIS POINT ITHE LIVESTOCK SECTOR CATTLE HOGS AND IN WHICH MARKET DO YOU THINK COULD HAVE THE MOST BULLISH ACTION THE FIRST QUARTER TWENTY SEVENTEEN??THE HOG AND PIG REPORT THE THING ABOUT HOGS IS, WE'RE EXPANDING  HERE DOMESTICALLY. WERE EXPANDING GLOBALLY. SO YOUR DEMAND BASE FOR THAT IS GOOD AND NEEDS TO STAY THERE. OTHERWISE YOU'RE GONNA HAVEYOUR SUBJECT TO A PRETTY BIG PRICE CORRECTION IN THAT MARKET JUST BECAUSE OF THE SUPPLY COMPARED TO DEMAND. BEEF IS KING. WE STOP EXPANDING WERE NOT CONTRACTING WERE RIGHT IN THE MIDDLE AND THE BIGGEST THING THAT OPENS UP IN THAT MARKET ITBEEF MARKET HAS A LITTLE UPSIDE POTENTIAL BUT IT 'S GONNA BE GOOD MARKET. HE 'S SIDEWAYS TOWARD A HIGHER MARKET FOR THOSE MARKETS CAN BE SOLID THIS YEAR WHICH IS WHAT THOSE GUYS WANT STABILITY ALL RIGHT THANK YOU SO MUCH WITH A CLOSING THOUGHT WHEN WE COME BACK ON U S FARM REPORT

MARKETS NOW
ADLIB

JOHN’S WORLD
IT'S TIME NOW FOR A PEAK INTO JOHN'S WORLD. FOR  THAT, WE HEAD TO HIS ILLINOIS FARM. JOHN.  FLYOVER COUNTRY HAS BECOME ONE OF THE TRIGGER WORDS FOR RURAL AMERICA. SINCE THE FIRST RECORDED INSTANCE OF ITS USE IN 1980,  FARMERS AND COUNTRY DWELLERS HAVE CHAFED AT THE CONDESCENSION  OF THE TERM. THE IDEA OF URBAN ELITES ON THE COASTS LOOKING DOWN  THEIR NOSES AT US IS A FAMILIAR SOURCE OF INDIGNATION. ONLY IT IS NEARLY IMPOSSIBLE TO FIND ANY ACTUAL QUOTES FROM NEW  YORKERS OR SAN FANCISCANS. TRY SEARCHING YOURSELF. IT TURNS OUT  THAT FLYOVER COUNTRY IS SOMETHING WE SAY THAT OTHERS SAY ABOUT  US. WE NOT ONLY CREATED A STEREOTYPE OF WHAT WE THINK URBAN  CITIZENS ARE LIKE, WE WROTE THEIR LINES.  WHILE THIS IS A HANDY WAY TO DRAW SHARP AND FLATTERING CONTRAST  BETWEEN OUR WAY OF LIFE AND THEIRS, THIS MANUFACTURED INSULT  PROBABLY OBSCURES A MORE UNSETTLING POSSIBILITY. WHEN JAN AND I TOOK A HONEYMOON CRUISE ON OUR TENTH  ANNIVERSARY - WHICH WAS WHEN WE COULD FINALLY AFFORD IT - WE  WERE THE ONLY FARMERS ON THE BOAT. I WAS AT THE AGE TO BE VERY  SENSITIVE TO HOW FARMERS WERE PERCEIVED. IT WAS THEN I LEARNED  SOMETHING MY DAD HAD TOLD ME NOT LONG BEFORE. HE SAID WHEN  HE WAS TWENTY, HE WORRIED ABOUT WHAT THE WORLD THOUGHT ABOUT  HIM. WHEN HE WAS FORTY HE DECIDED HE DIDN'T CARE WHAT THE  WORLD THOUGHT ABOUT HIM. WHEN HE REACHED 60, HE DISCOVERED  THE WORLD WASN'T THINKING ABOUT HIM AT ALL - THEY WERE THINKING  ABOUT THEMSELVES. SO, DO NON-RURAL AMERICANS THINK ABOUT US AS FLYOVER COUNTRY?  ALMOST CERTAINLY NOT. THE VAST MAJORITY DON'T THINK ABOUT US AT  ALL. WHILE MANY OF YOU MAY BE JUST AS OFFENDED BY INDIFFERENCE, I  THINK UNDER THE RADAR IS A RELATIVELY SAFE PLACE TO BE THESE DAYS. INTERESTING TAKE. THANKS, JOHN.

TEASE
TIMES ARE TIGHT IN RURAL AMERICA, BUT IS THE  SITUATION A DIRE ONE? THAT'S OUR FARM JOURNAL  REPORT AFTER THE BREAK. 

HEADLINES
FROM THE STUDIOS OF FARM JOURNAL BROADCAST,  THIS IS U.S. FARM REPORT.  WELCOME BACK TO U-S FARM REPORT THIS WEEKEND.  WE HAVE MUCH MORE AHEAD IT'S A CREDIT CRUNCH ACROSS RURAL AMERICA, BUT  FSA SAYS LOAN DEMAND IS ACTUALLY DOWN. THAT'S  OUR FARM JOURNAL REPORT. RAIN AND SNOW RELIEF OUT WEST MEANS A BIG BITE  OUT OF THE DROUGHT.  AN HISTORIC STAGE, WITH A UNIQUE BEGINNING.  ANDREW MCCREA TAKES US TO THE RYMAN  AUDITORIUM. AND ARE FARMERS LOSING CONTROL OF FARMLAND?  THAT'S CUSTOMER SUPPORT.

PURDUE AG BAROMETER
NOW FOR THE HEADLINES...LESS THAN A WEEK AWAY  FROM TEH PRESIDENTIAL INAGURATION, AND THE  THOUGHT OF WHAT A TRUMP ADMINISTRATIONW ILL  MEAN FOR THE AG ECONOMY IS ALREADY MOVING  MOODS.  THE LATEST AG ECONOMY BAROMETER SHOWING  PRODUCER SENTIMENTS RISING SHARPLY TO CLOSE  OUT 2016. DECEMBER'S READING REACHING 132. THAT'S 16 POINTS  ABOVE NOVEMBER AND 40 POINTS HIGHER THAN  OCTOBER.  PURDUE TEAMS UP WITH CME TO PRODUCE THE  BAROMETER EACH MONTH, SURVEYING 400 AG  PRODUCERS FROM ACROSS THE COUNTRY.  AUTHORS SAY THE INCREASE IN SENTIMENTS ISN'T DUE  TO CHANGES IN CORN AND SOYBEAN PRICES AS 60  PERCENT OF PRODUCERS SAY THEIR OPERATION IS FINANICALLY WORSE OFF. 

REPEALING WOTUS
TRUMP ADMINSTRATION'S PROMISE TO REPEAL A SLEW  OF REGULATIONS SET BY THE OBAMA ADMINSTRATION  IS PEAKING THE INTEREST OF SOME FARMERS. THIS  INCLUDES THE HIGHLY DEBATED WATERS OF THE U-S  RULE.  DON PARRISH OF AMERICAN FARM BUREAU SAYS  REPEALING THE REGULATION WON'T BE EASY. BUT  FARM BUREAU ALSO WANTS TO SEE TRUMP REPLACE  THE REGULATION, SO IT WORKS IN THE WAY CONGRESS  INTENDED.   <I THINK YOU'RE SEEING A TRUMP ADMINISTRATION COME IN THAT  RECOGNIZES WE'VE GOT TO PROTECT WATER QUALITY, WE'VE GOT TO  PROTECT THE ENVIRONMENT, BUT THEY ALSO WANT TO PUT A REALLY FINE  POINT, A PRETTY SIGNIFACNT FINE POINT ON THE DISTRICTION ON WHAT IS A  FEDERAL WATER AND WHAT IS A STATE WATER. AND ONCE THEY PUBLIC  UNDERSTANDS WHAT THOSE DISTICTIONS ARE, AND UNDERSTAND THAT ALL  WATERSE GOING TO BE PROTECTED AT EITHER THE FEDERA LEVEL OR THE  STATE LEVEL, THEY CAN EMBRACE THAT AND UNDERSTAND THAT WE CAN  BE PROTECTIVE OF WTER QUALITY> AND JUST THIS WEEK, TWO SENATORS INTRODUCING  LEGISLATION TO ROLL BACK WOTUS AND STOP THE  RULE IN ITS TRACKS. SENATOR JONIE ERNST OF IOWA AND SENATOR DEB  FISCHER OF NEBRASKA'S RESOLUTION EXPRESSES THE  NEED TO VACATE HTE RULE.  FISCHER SAYS THE RULE WOULD HURT ALL  NEBRASKANS. ERNST CALLING IT A POWER GRAB. 

CALIFORNIA DROUGHT RELIEF
THOSE FLOODING RAINS AND MONSTEROUS SNOWS IN  NORTHERN CALIFORNIA AND NEVADA HELPING THE  STATES MAKE MAJOR HEADWAY IN THE LATEST  DROUGHT MONITOR. 34 PERCENT OF CALIFORNIA IS NOW DROUGHT FREE..  THAT COMPARES TO 18 PERCENT LAST WEEK. LAST  YEAR, THE ENTIRE STATE CONSUMED BY DROUGHT. ABNORMALLY DRY CONDITIONS IMPROVING 16 POINTS.  THE MOISTURE ADDING 39 BILLION GALLONS, OR ABOUT  A FOOT OF WATER TO LAKE TAHOE. 

WEATHER
THAT'S IT FOR NEWS...METEOROLOGIST MIKE  HOFFMAN JOINS US NOW WITH A LONGER RANGE LOOK  AT WEATHER. MIKE, DOES IT LOOK LIKE THIS WET  MOISTURE PATTERN OUT WEST WILL CONTINUE?  THANKS, TYNE, YEAH AFTER AFTER WE GET RID OF THIS CUTOFF FOLLOW  WHICH HAS SHIFTED MOST OF THE ACTIVITY FARTHER EAST WE WILL BEGIN  TO SEE THAT FLOW COMING IN FROM THE WEST AGAIN. LET 'S PUT THE JET  STREAM IN THE MOTION AND YOU'LL NOTICE HOW THAT CUTOFF TAKES A  WHILE IS WE HAD THAT THROUGH THIS WEEK. SO INSTEAD OF MOVING SLOWLY BUT THAT ARCTIC AIR IS BOTTLED UP. I MEAN WHEN YOU SEE JET  STREAMS MOVING FROM WEST TO EAST EVEN IF THEY'RE GOING UP AND  DOWN A LITTLE BIT IT 'S FLOODING THE LOWER FORTY EIGHT WITH A PACIFIC  AIR THAT WILL CONTINUE TO BE THE CASE. YOU CAN SEE A TROPH  DEVELOPING OUT WEST. IN SO COLDER AIR STARTS TO DEVELOP IN THE  NORTHERN PLAINS AND ALSO OUT WEST BUT STILL THE ARCTIC AIR PRETTY  WELL BOTTLED UP. SO LET 'S TAKE A LOOK. THE THIRTY DAY OUTLOOK FOR  TEMPERATURES NOT IS GOING TO BE MILD FOR THE NEXT WEEK WEEK AND  A HALF FOR MOST EVERYBODY EAST OF THE ROCKIES BUT EVENTUALLY YOU  TURNED COLDER. SO I'M GOING BELOW NORMAL ON AVERAGE NORTHERN PLAINS. MOST OF THE WEST ABOVE NORMAL FOR THE SOUTH  AND ALSO THE EAST COAST. EVEN YOU WILL TURN COLDER IN TEH 30 DAY  OUTLOOK THOUGH. PRECIPITATION LOTS OF STORM SYSTEMS IN THE MIDDLE  OF THE COUNTRY EVEN ABOVE NORMAL THERE SAME THING OUT WEST  TYNE

FARM JOURNAL REPORT
THANKS, MIKE. WE'VE BEEN HEARING REPORTS OF  FARMERS FLOODING LOCAL FSA OFFICES IN SEARCH OF  FARM LOANS DUE TO A DIRE SITUATION IN FARM  COUNTRY. BUT NATIONALLY, THAT'S NOT WHAT FSA IS SEEING.  THAT'S THIS WEEK'S FARM JOURNAL REPORT.  <IT'S CERTAINTLY NOT A TIME OF PROSPOERITY, BUT IT'S NOT LIKE WE SAW IN THE 1970  AND 1980S> HEADING INTO 2017 FARMERS ARE FACED WITH MORE  OF THE SAME... LOWER COMMODITY PRICES DEPICTING  A DUBIOUS OUTLOOK FOR THE NEW YEAR.  <THERE IS SOME LEVEL OF OPTIMISM, BUT THERE'S DEFINITLEY CONCERN  GOING INTO THE 2017 CROP YEAR> WHILE 2016 WASN'T A RECORD BREAKER IN FARM  INCOME, IT PANNED OUT BETTER THAN EXPECTED FOR  MANY.  <THE YIELDS WERE EXCEPTIONAL. AND HONESTLY, THE TIMING OF HTE  GOVERNMENT PAYMENTS WAS VERY HELPFUL. AND THAT IS GOING TO  MAKE A DIFFERENCE TO THE BOTTOMLINE, WHICH IS SOMETHING WE  DIDNT' SEE A YEAR AGO> MOODS DIFFER BY REGION... LARGELY DEPENDANT ON  YIELDS. FOR AGSTAR, AN ASSOCIATION OF FARM CREDIT COVERING PORTIONS OF MINNESOTA AND  WISCONSIN, THEIR FARMER CUSTOMERS SAW BIN  BUSTER YIELDS, HELPING PAINT A ROSIER PICTURE.  <I DO BELIEVE THAT A LOT OF FARMERS SOLD SOYBEANS AND THAT HELPED  KEEP I CALL IT OVERALL OPERATING LINE USAGE A LITTLE BIT LOWER THAN  WHAT WE ANTICIPATED> BUT IN SOUTHERN ILLINOIS, YIELDS SUFFERED,  SWAYING FINANCES.  <UNFORTUNATIEELY, ACROSST HE BOARD THERE WASN'T NEARLY ENOUGH  WORKING CAPITAL RETAINED>HOSKINS SAYS AS ABOUT A QUARTER OF FARMERS  FACE NEGATIVE MARGINS, CREATING A  PREVAILING  ATTITUDE  THAT WORRIES HIM.  <THERE ARE SOME PRODUCERS TAHT ARE TRYING TO SAVE THEIR WAY TO  PROSPERITY, IN TODAY'S WORLD I JUST DON'T THINK THAT'S FEASIBLE. YOU  HAVE TO MANAGE EXPENSES, BUT CONTROLLIGN YOU ROPERATION BY TEH  MANAGEMENT OF EXPENSES I'M NOT SURE IS A GOOD LONG-TERM STRATEGY> FROM CROPS TO LIVESTOCK, TIMES ARE TIGHT.  <WE'VE SEEN A SLOWDOWN IN THE POULTRY MARKET. OVERALL AT LEAST IN  OUR FOOTPRINT. THERE WAS SOME EXPANSIONS HAPPENING THIS  SUMMER, SOME OF HAVE BEEN PUT ON HOLD.> AND OUT WEST, THE DAIRY CYCLES IN 2016 TOOK ITS  TOLL ON PRODUCERS.  <THEY ERODED A BIT OF THAT LIQUIDITY IN 2016, WE'RE GOING TO SEE  SOME ADDITONAL EROSION OF HTE LIQUIDITY IN THEIR BALANCE SHEET IN  HERD EQUITY, IN MY MIND, I THINK THIS INDUSTRY IS SET PRETTY WELL TO  DEAL WITH ADDITIONAL STRESS ITNO EARLY 2017. > DESPITE ALL OF THE TALKS AROUND NEGATIVE  MARGINS, USDA'S FARM SERVICE AGENCY SAYS THEY  AREN'T SEEING A FLOOD OF REQUESTS FOR FARM  LOANS.  <ACTUALLY OUR ACTIVITY AND DEMAND AS IT STANDS TODAY IS DOWN  SLIGHTLY COMPARED TO THE SAME TIME LAST YEAR. THAT'S NOT WHAT WE  HAD ANTICIPATED AND CERTAINTLY NOT WHAT WE'RE HEARING TO BE  EXPECTED FOR HTE SEASON FROM THE COUNTRYSIDE> RADINTZ SAYS LOAN NEEDS MAY JUST BE BEHIND AS  FARMERS WORK ON RECORD KEEPING AND ACCOUTING  FOLLOWING A LATE HARVEST.  EVEN THOUGH OUR DEMAND IS DOWN SLIGHTLY OVER LAST YEAR, IT WAS  BROAK ALL THE RECORDS. SO THE FACT WE'RE JUST SLIGHTLY OFF THAT, IT STILL  POINTS THAT DEMAND AND NEED IS EXTREMELY HIGH>MORE THAN JUST LOAN DEMAND, LOAN DELINQUENCY  RATES IN FSA ARE ALSO ON TRACK WITH LAST YEAR.   <OUR DELINQUENCY RATES HAVE BEEN NOT AT HISTORIC LOWS, BUT IN  THAT RANGE> <I THINK EVERYONE EXPECTED IT TO BE WORSE THAN IT IS. THERE WAS AN  UPTICK IN BOTH THE FARM CREDIT SYSTEM AS WELL AS THE AG BANKERS  DELINQUENCY NUMBERS, BUT IT'S VERY SMALL COMPARED TO WHAT  WE'VE SEEN IN PRIOR ECONOMIC DOWNTURNS> <WE DID HAVE SOME DISTRESSED CREDIT IN OUR PORTFOLIO, BUT DIDN'T  AHVE AN UPTICK AS MUCH AS WE THOUGHT IT WOULD THIS  SEASON,WHICH IS GREAT, BUT WE DO KNOW THAT'S GOING TO CONTINUE,  OR WE HAVE PROJECTSION THAT IT'S GOING TO CONTINUE FOR THE NEXT  COUPLE YEARS> A STRONGER FARM ECONOMY THAN ANTICIPATED TO START 2017, BUT NOT EVERY FARMER PREVAILED, AND  EXPERTS SAY THE BALANCE SHEETS NEED ATTENTION.  <IF I LOOK AT ONE SINGLE THING, $400 CASH RENT PER ACRE IIN CERTAIN  PARTS OF OUR TERRTITORY DOES NOT MAKE ECONOMICAL SENSE.> AND WHILE SHORT PRICE RALLIES AND HIGHER YIELD  SHELPED MANY FARMRS SURVIVE, THAT'S NOT A  GUARENTEE IN THE NEW YEAR.  WE'RE PROBABLY NOT GOING TO SEE A DROP IN OIL PRICES. SO SOME OF  THE BENEFITS WE SAW IN 16, IN TERMS OF LOWER FUEL COSTS AND LOWER  FERTILIZER COSTS, WE'RE NOT LIKELY TO SEE THOSE AGAIN, 16 IS KIDN OF A  ONE SHOT DEAL > THAT'S WHY HE WON'T BE SURPRISED IF 2017 TURNS  OUT BETTER THAT WHAT MANY EXPECT TODAY. <BUT YOU ALWAYS PREPARE FOR THE WORST AND HOPE FOR THE BEST. > AND WHILE LENDERS ARE PREPARED FOR TOUGH  CONVERSATIONS AS LENDING SEASON GETS INTO FULL  SWING, BANKERS LIKE HOSKINS ARE STILL BULLISH  OVERALL. <I THINK IT'S A GOOD TIME TO TAKE STOCK OF HOW EFFECTIVELY ARE WE  MANAGING THE RISK AS IT RELATES TO AGRIUDLTURE. HOW EFFECTIVELY ARE  WE LOOKING AT OUR LIVING EXPENES, AND LOOKIGN AT WAYS TO FIND THAT  WE CAN WORK WITH PRODUERS TO HELP THEM NAVIGATE THE TIMES THAT  WE'RE DEALING WITH> LAST YEAR, FSA RAN OUT OF MONEY FOR OPERATION  LOAN PROGRAMS,  IMPACTING EVERYTHING FROM CREDIT FOR SPRING  PLANTING AND BUYING FARM EQUIPMENT, TO  PURCHASING LIVESTOCK. RADINTZ TELLS ME FSA  FUNDING IS APPROPRIATED EACH YEAR BY CONGRESS,  NOT VIA THE FARM BILL. BUT HE'S CONFIDENT KEY  MEMBERS OF CONGRESS UNDERTSTAND THE  IMPORTANCE OF ADEQUATE FUNDING THIS YEAR.  UP NEXT, JOHN PHIPPS. 

CUSTOMER SUPPORT
LAND VALUES MAY BE ON THE DECLINE ACROSS MUCH  OF THE COUNTRY, BUT WHEN YOU SEE A LAND FOR SALE SIGN, WHO'S REALLY BUYING? HERE'S JOHN  PHIPPS.;  LOYAL VIEWER, BRAD JOHNSON, NOTICED A NEWS STORY AND HAD A  COMMENT: "ON MONDAY, 8,638 ACRES OF ILLINOIS FARMLAND CHANGED HANDS FOR  A TOTAL OF $55.311 MILLION DOLLARS, AFTER THE DUST SETTLED BETWEEN  A "BATTLE OF TWO ENTIRETY BIDDERS," IN PRINCIPAL I DO NOT OBJECT TO SUCH TRANSACTIONS.  ESSENTIALLY IT IS  A GROUP OF PEOPLE DOING WHAT HUNDREDS OF THOUSANDS OF US HAVE  DONE INDIVIDUALLY FOR A VERY LONG TIME, INVESTING IN FARMLAND WITH  AN EYE TO LONG TERM TOTAL RETURN AND THE PLEASURE OF OWNING LAND. HOWEVER, WE NEARLY ALL HAVE A GUT LEVEL REACTION TO THE NEWS  WHEN WE READ IT." BRAD, THANKS FOR THE FEEDBACK, AND YOU ARE RIGHT, THERE IS AN  INSTINCTIVE CONCERN ABOUT FARMLAND SLIPPING OUT OF FARMER CONTROL  WHEN YOU READ ABOUT BIG SALES LIKE THIS ONE. BUT OVER THE YEARS,  I HAVE SLOWLY REALIZED THEY ARE THE EXCEPTION, NOT THE RULE. WE NOTICE BIG SALES LIKE THIS BECAUSE THEY ARE RARE. IT HAS HISTORICALLY  BEEN REALLY HARD TO ACCUMULATE BIG CHUNKS OF PRIME LAND AND  EVEN HARDER TO KEEP THEM TOGETHER. WITH THE EFFECTIVE TURNOVER  RATE OF ONLY ABOUT 2%, FARMLAND IS A SLOW AND ILLIQUID MARKET.  ABOUT TWICE AS MUCH CHANGES HAND EACH YEAR, BUT BETWEEN  PRIVATE PARTIES OR FAMILIES. SO EVEN IF OUTSIDE INVESTORS WERE  GOING TO TAKE OVER THE LAND MARKET, IT WOULDN'T BE OVERNIGHT. ALSO, REMEMBER THAT WITH ABOUT 900 MILLION ACRES OF FARMLAND,  AND ROUGHLY 400 MILLION OF CROPLAND, EVEN A SALE IF THIS SIZE IS A  TINY FRACTION. IT HAS HUGE IMPACT IN THE COMMUNITY WHERE IT IS  LOCATED, HOWEVER. IT MIGHT BE HELPFUL TO CHECK THE NUMBERS ON WHO OWNS AMERICA'S  FARMS. AS YOU CAN SEE 60% IS OWNED BY THE GUY FARMING IT. BUT  EVEN THE GROUND OWNED BY NON-OPERATORS HAS A FARMER  COMPONENT. ABOUT HALF OF NON-OPERATOR OWNED GROUND IS OWNED  BY FORMER FARMERS, GENERALLY OLD RETIRED GUYS WHO LIKE TO DRIVE  OUT AND BUG THE TENANT BY DRONING ON ABOUT THE OLD DAYS. THE  UPSHOT IS ABOUT ¾ OF US FARMLAND HAS TO BE PRIED OUT OF OUR  COLD, DEAD FINGERS. AND THAT NUMBER HAS BEEN FAIRLY STABLE FOR  DECADES. SO WHILE IT MAY BE UPSETTING FOR A BIG SALE TO BE CLOSED BY A BIG  BUYER, WE'D PROBABLY BE JUST AS UNEASY IF A BIG FARMER BOUGHT IT.    THANKS, JOHN. IF YOU HAVE QUESTIONS OR  COMMENTS, EMAIL JOHN AT MAILBAG AT U-S FARM  REPORT DOT COM. YOU CAN ALSO SEND US A NOTE ON  FACEBOOK OR TWITTER.

TEASE
UP NEXT, ANDREW MCCREA GIVES US THE HISTORY OF  HTE RYMAN AUDITORIUM. 

AMERICAN COUNTRYSIDE
IT'S A BUILDING THAT'S A STAPLE IN DOWNTOWN  NASHVILLE. ONCE HOME TO THE GRAND OL OPRY, THE  ICONIC RYMAN AUDITORIUM HOSTS SHINING COUNTRY  STARS TO THIS DAY. BUT FOR THE STORY BEHIND RYMAN AUDITORIUM,  HERE'S ANDREW MCCREA.  REVEREND SAMUEL JONES WAS BORN IN ALABAMA IN 1897.  HE  STUDIED LAW, BUT EVENTUALLY FOUND HIS CALLING AS PREACHER AT LARGE  REVIVALS IN THE SOUTH.  IN MARCH OF 1885 JONES CAME TO  NASVHILLE, TENNESSEE TO MEET WITH THE HEADS OF ALL THE CITIES  CHURCHES ABOUT HOSTING SUCH A GATHERING IN THE CITY THAT  SUMMER. (HE'S AN INTERESTING GUY IN THAT HE WAS A REFORMED ALCOHOLIC  HIMSELF.  HE BELIEVED MANY THINGS WERE EVIL.  HE BELIEVED  BASEBALL, BICYCLES, BILLARDS, DANCE HALLS, LOW CUT DRESSES WERE ALL  EVIL, BUT ABOVE ALL OTHERS ALCOHOL.  HE REFERRED TO BARS AS HELL'S  RECRUITING ROOMS ON SCREEN: JOSHUA BRONNENBERG, MUSEUM AND TOURS MANAGER, RYMAN AUDITORIUM THAT SUMMER JONES RETURNED TO NASHVILLE FOR A MULTI-DAY TENT  REVIVAL.  MOST WELCOMED JONES, BUT LOCAL RIVERBOAT LINE OWNER,  TOM RYMAN WANTED THE MAN OUT OF HIS CITY.  AFTER ALL, RYMAN  SOLD ALCOHOL ON HIS STEAMBOATS AND SUCH PREACHING COULD CUT  INTO HIS BUSINESS. (THE STORY IS THAT TOM RYMAN WENT TO BREAK UP THE RIVIVAL TO  CHASE THIS GUY OUT OF TOWN BECAUSE HE'S RAILING AGAINST THE  SELLING OF ALCOHOL/ALL WE DO KNOW IS THAT HE DID GO AND HE HEARD  THE MAN PREACH, HE HEARD SAM JONES PREACH AND IT CHANGED  HIM, IT CHANGED HIS OUTLOOK ON LIFE AND HE WANTED TO BUILD A  PROPER PLACE FOR EVANGELICALS LIKE SAM JONES TO GIVE THEIR  SERMONS IN RYMAN IMMEDIATELY HELPED SECURE FUNDS FOR A 250 SEAT  TEMPERANCE HALL NEAR THE CITY'S WHARF.  BUT HE WANTED TO DO  MORE, AND BY 1892 NASHVILLE'S UNION GOSPEL TABERNACLE  PROVIDED A LARGE, ENCLOSED VENUE FOR JONES AND OTHERS TO SPEAK ALTHOUGH THE TABERNACLE COULD HOST LARGE GATHERINGS, IT WAS STILL  TOO SMALL FOR SOME OF THE BIGGEST CROWDS.  WHEN A REUNION OF  FORMER CONFEDERATE SOLDIERS WAS TO BE HELD IN NASHVILLE, RYMAN  AND CITY LEADERS WORKED TO MAKE THE PLACE HOLD EVEN LARGER  CROWDS. (THEY DIDN'T THINK THE BUILDING AS IT SAT COULD ACCOMMODATE THE  NUMBERS THEY WERE EXPECTING.  SO THE CITY RAISED THE BOARD  RAISED TEN THOUSAND DOLLARS THEY CONSTRUCTED THE BALCONY WE SEE  HERE TODAY/***CUT HERE***/SO IF YOU COME HERE TODAY YOU'LL  SEE THERE IS A BIG PLAQUE THAT STILL SITS ON THE FRONT OF THE GALLERY  TODAY THAT SAYS CONFEDERATE GALLERY 1897 :16) 2:14 #3878   ONE OF THE BIGGEST MISCONCEPTIONS ABOUT THE RYAMN IS THAT  THIS IS THE BIRTHPLACE OF THE GRAND OLE OPRY. (THEY HAD FOUR HOMES BEFORE THEY GOT HERE. AND SO BEFORE THE  OPRY GOT HERE WE HAD A TON OF EVENTS, EVERYTHING FROM PRIZE  FIGHTS TO BALLET PERFORMANCES TO OPERAS, WRESTLING MATCHES,  WE'VE HAD IT.  WHEN THE OPRY GOT HERE IN 1943 WE STILL HAD OTHER  EVENTS HERE ON OFF-OPRY NIGHTS  FOR OVER 30 YEARS THE RYMAN WAS HOME TO THE OPRY.  BUT IN  1974, THE BUILDING, THEN OVER EIGHT DECADES OLD, DID NOT HAVE THE  AMENITIES OF NEWER SITES, AND THE LONG RUNNING SHOW LEFT FOR A  NEW FACILITY ACROSS TOWN. (THIS BUILDING WAS NOT IN GOOD SHAPE IN 74.  IT WAS PRETTY WORN  DOWN.  THERE WAS NO AIR CONDITIONING.  THE DRESSING ROOMS WERE  VERY UNCOMFORTABLEAND SO THE BUILDING SAT IN LIMBO FOR 19 YEARS.  BUT EVENTUALLY  RENOVATIONS WERE MADE, EVENTS CAME BACK TO ITS STAGE…AND  THEN IN 1999, THE GRAND OLD OPRY ITSELF MADE A RETURN, NOT  MAKING AN ANNUAL RUN HERE AT THE RYMAN EVER WINTER SEASON.  CLOSING STANDUP :20 THIS IS TRULY ONE OF THE MOST HISTORIC STAGES  IN ALL OF AMERICA WHEN YOU CONSIDER THE PRESIDENTS, ATHLETES AND  OF COURSER MUSICIANS WHO HAVE PLAYED HERE. WHAT IS TRULY  INTERESTING TO REMEMBER IT WAS A RIVER BOAT CAPTAIN WHO CAME TO  BREAKUP AN EVANGELISTIC MEETING WHO MADE THIS PLACE POSSIBLE.  TRAVELING THE COUNTRY SIDE AT RYMAN AUDITORIUM IN NASHVILLE  TENNESSEE, I'M ANDREW MCCREA. 

TEASE
THANKS, ANDREW. YOU CAN VIEW MORE OF ANDREW'S TRAVELS ON THE  FARM JOURNAL TV APP. UP NEXT, COUNTRY CHURCH SALUTE.

TRACTOR TALES
TRACTOR TALES BROUGHT TO YOU BY THE MOST TRUSTED NAME IN FARM EQUIPMENT, MACHINERY PETE. WELCOME BACK TO TRACTOR TALES FOLKS!  WE'VE GOT A BEAUTY FROM  WEST VIRGINIA THIS WEEK.  OWNER JAMES GRAY LIKES TO SHOW OFF THIS CLASSIC D.  AND SHORTLY  AFTER HE PURCHASED THIS DEERE FROM A FARM IN INDIANA, HE ADDED  AN ELECTRIC START.  HE SAYS IT MAKES A WORLD OF DIFFERENCE!       NINETEEN THIRTY EIGHT JOHN DEERE D HANDS START BUT THEN IN  NINETEEN THIRTY EIGHT THEY HAD AN OPTION WHERE I YOU COULD PUT  ELECTRIC START ON IT AND MY BOY FOUND ELECTRIC START IN PORTLAND  OREGON AND THEN WE BROUGHT UP AND PUT ELECTRIC START ON BUT I  SHOWED IT FOR MANY YEARS HAND STARTING IT MUCH EASIER WITH  ELECTRIC START BOUGHT IT UP IN INDIANA  I THINK IT WAS NINETEEN  NINETY EIGHT IT HAD AN OLD RESTORATION ON IT  AND THEN WE  FRESHENED IT UP QUITE A BIT AND NEW REBUILD THEN WE DID A LITTLE BIT  OF PAINT SO ITS JUST AN OLD RESTORATION NOW WE HAVEN'T DONE  ANYTHING TO IT BASICALLY FOR YEARS I JUST SHOW IT IN PARADES AND  THINGS LIKE THAT I PUT A NEW MANIFOLD ON IT SO THAT I CAN PUT THE  TWIN OF THE DUAL EXHAUST ON THAT 'S REALLY THE ONLY MODIFICATION  AND HAS OTHER THAN AN ALTERNATOR AND I HAVE THE ORIGINAL  GENERATOR BUT I WANT TO MAKE SURE THAT THE BATTERY STAYED AT A  USED AN ALTERNATOR ON IT WE HAVE A BIG SHOW LAST YEAR I TOOK IT UP  THE LOGAN OHIO UP TO THE WASHBOARD FESTIVAL AND WE TO GET  THROUGH TOWN THERE IN IT MAKES QUITE A RACKET AND GETS GOOD  ATTENTION I DON'T THINK THEY SAY THE TRACTOR THEY JUST HEAR THE  NOISE OF THE OLD D 'S ARE SUCH A DIRTY VEHICLE YOU JUST CAN'T KEEP  THEM CLEAN MAYBE YEAR AND A FEW YEARS WE MIGHT RESTORE IT.   MECHANICALLY IT 'S FINE IT'LL PROBABLY NEVER NEED TO BE RESTORED IN  MY LIFETIME AGAIN HOPEFULLY SOMEDAY I'LL TURN IT OVER AND LET MY  BOY  HAVE IT BECAUSE HE REALLY LIKES IT TOO WILL TRY TO KEEP IT IN A  FAMILY IF I CAN.

COUNTRY CHURCH SALUTE
TODAY'S COUNTRY CHURCH SALUTE GOES TO ST  PAUL'S LUTHERAN CHURCH PINE RIVER IN MERRILL,  WISCONSIN.  THE CONGREGATION IS CELEBRATING ITS 125TH  ANNIVERSARY THIS YEAR. STARTED IN 1889 BY SEVEN  GERMAN FAMILIES, THE ORIGINAL CHURCH IS STILL  USED TODAY. OUR THANKS TO KEITH AND JULIE DULEY  FOR SHARING THEIR STORY.     AS ALWAYS WE WANT TO LEARN ABOUT YOUR HOME  CHURCH AS WELL... SALUTES CAN BE SENT TO THE  ADDRESS ON THE SCREEN.  STAY WITH US - WE HAVE  SOME COLD AND SNOWY FROM THE FARM PHOTOS

FROM THE FARM
WELCOME BACK. SOME UNBELIEVABLE SNOW FALLING  ACROSS THE WEST LAST WEEKEND AND THIS WEEK. AN ANALYST ON OUR PROGRAM WHO ACTUALLY LIVES  IN OREGON TWEETED THIS PICTURE. KEVIN DULING  SAYS THEY NOW HAVE 22 INCHES OF SNOW ON THE  GROUND IN MAUPIN, OREGON. HE SAYS THAT'S ONE OF  THE LARGEST SNOWS HE'S EVER SEEN IN THAT AREA.  HE SAYS WITH SO MUCH WATER SITTING ON THE  HILLSIDES, HE HOPES THE SNOW DISAPEARS SLOWLY,  OTHERWISE THEY COULD BE IN FOR RECORD  AND CHECK OUT HTIS TIME LAPSE FROM CASEY IN  NORTHWEST NEBRASKA. WITH ICE AND SNOW, WORK  MUST GO ON . THEY TOOK A TIMELAPSE OF THE  MORNING CHORES.   WHAT A NEAT VIDEO.    AS ALWAYS, WE WANT TO HEAR FROM YOU, SEND  COMMENTS TO MAILBAG-AT-U-S-FARM-REPORT-DOT-COM OR CHECK US OUT ON FACEBOOK AND TWITTER.

CLOSE
FOR ALL OF US AT U.S. FARM REPORT, 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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