USFR Weekly Recap - July 1-2, 2017

July 1, 2017 03:30 AM
 

TODAY ON U.S. FARM REPORT
JULY 1-2, 2017


HEADLINES
WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN,  AND HERE'S WHAT WE'RE WORKING ON FOR YOU THIS  WEEKEND.  USDA HEADING INTO A HOLIDAY BREAK WITH A BANG,  GIVING PROUDCERS A FRESH LOOK AT PLANTED ACRES.   COULD SOYBEANS BE THE NEW KING?  <FOR THE FIRST TIME I CAN TELL YOU, WE'RE BREEDING SOYBEANS WITH  THE SAME KIND OF INTENSITY THAT WE WERE BREEDING C> WE'LL SHOW YOU WHY THIS COULD BE THE DECADE OF  THE BEAN.  BPI GETS THE FINAL WORD ON A LAWSUIT 5 YEARS IN  THE MAKING.. <IT'S BEEN A LONG ROAD FOR BPI> BUT ABC STANDING BY THEIR STORY, SAYING IT WAS  FULL OF FACTS. HE WAS A MAN ON A MISSION TO TELL STORIES OF  THOSE DEDICATING THEIR LIVES FOR FREEDOM... <HE WOULD GO UP AND TYPICALLY SET AROUND AND TALK TO THEM FOR  TWO OR THREE OR FOUR DAYS. > ANDREW MCCREA HONORS  ERNIE PYLE IN AMERICAN  COUNTRYSIDE.  AND IN JOHN'S WORLD... <POLLINATOR PLOTS, YEAR ONE, IT AIN'T PRETTY.">   <U.S. FARM REPORT - BROUGHT TO YOU BY THE DEPENDABLE, LONG  LASTING, CHEVY SILVERADO.>

ACREAGE ESTIMATES
NOW FOR THE NEWS THAT MOVED THE MARKETS THIS  WEEK, USDA SETTING OFF FIREWORKS EARLY,  RELEASING ITS LATEST ACREAGE ESTIMATES ON  FRIDAY.  DESPITE TALKS OF SOYBEANS OVERTAKING CORN, USDA LEAVING SOYBEAN ACREAGE UNCHANGED FROM ITS MARCH FORECAST, AT 89 POINT 5 MILLION ACRES. THE AGENCY RAISING CORN PLANTGS FROM MARCH, TO 90 POINT 9 MILLION. STILL SEEING A RECORD LOW NUMBER OF WHEAT ACRES. USDA SAYS FARMERS PLANTED 45 POINT 7 MILLION ACRES, DOWN FROM MARCH. . AGENCY ALSO LOWERING  SPRING WHEAT TO 10 POINT 9 MILLION.USDA SLIGHTLY DROPPING ITS COTTON ACREAGE FORECAST SLIGHTLY, TO 12 POINT 1 MILLION ACRES. USDA ALSO HITTING THE MARKET WITH GRAIN STOCKS. THE AGENCY PUTTING CORN STOCKS 11 PERCENT HIGHER THAN LAST EYAR, AT 5 POINT 23 BILLION BUSHELS. SOYBEAN STOCKS ALSO 11 PERCENT HIGHER FROM THIS TIME LAST YEAR. AND THE ALL WHEAT NUMBER HITTING 1 POINT 18 BILLION BUSHELS. A 21 PERCENT SPIKE OVER LAST YEAR. USDA GIVING AN UPDATED LOOK AT ACREAGE, BUT  WHAT'S PLANTED IS VARIABLE.  USDA'S LATEST CROP PROGRESS REPORT SHOWING 67  PERCENT OF THE CORN CROP IS IN GOOD TO  EXCELLENT SHAPE. UNCHNAGED FROM LAST WEEK.  IT'S THE MID SOUTH THAT SEEMS TO BE IN THE BEST  SHAPE. USDA CALLIGN 85 PERCENT OF KENTUCKY'S  CROP AND  87 PERCENT TENNEESEE'S CROP GOOD TO  EXCELLENT. SOUTH DAKOTA FARMERS ONLY LOOKING AT 46  PERCENT GOOD TO EXCELLENT. IT'S THE SAME IN  INDIANA.  MIKE SILVER OF INDIANA DESCRIBING THIS YEAR IN ONE  WORD.. CHALLENGING  <"THE INDIANA CROPS ARE AS RAGGED AS I'VE SEEN THEM IN MY  LIFETIME.">                <"IN THIS AREA I WOULD VENTURE TO SAY 35 TO 40 PERCENT OF THE CORN  CROP WAS REPLANTED AT LEAST ONCE. LIKE I SAY, SOME OF IT TWICE AND   THREE TIMES,"> WHILE A RECORD NUMBER OF SOYBEANS ARE IN THE  GROUND, 66 PERCENT IS CONSIDERED GOOD TO  EXCELLENT.  THAT'S  DOWN A SINGLE POINT FROM LAST WEEK.SOUTH DAKOTA LOOKS THE WORST, AT 21 PERCENT  POOR TO VERY POOR.  NORTH CAROLINA POSTING THE BEST CONDITION  RATINGS, WITH 83 PERCENT GOOD TO EXCELLENT. 

DROUGHT CONDITIONS
IT'S DRY CONDITIONS WIPING OUT A PORTION OF THE  SPRING WHEAT CROP IN THE NORTHERN PLAINS. AND PRICES ARE RESPONDING. MINNEAPOLIS WHEAT SHOOTING 30 CENTS HIGHER  THURSDAY MORNING... CONTRACTS NOW APPRACHING  THE 8 DOLLAR MARK.  AS HOG SLAUGHTER CAPACITY RAMPS UP, PRODUCERS  ARE RESPONDING IN A BIG WAY. THE LATEST USDA QUARTERLY HOGS AND PIGS REPORT  SHOWS INVESTORY REACHING 71 POINT 7 MILLIOIN  HEAD. THAT'S 3 PERCENT HIGHER THAN LAST EYEAR,  AND THE HIGHEST INVENTORY SINCE 1964. BREEDING INVENTORY SHOWING 2 PERCENT GROWTH,  AT JUST OVER 6 MILLION HEAD.  AND MARKET HOG INVETORY COMING IN AT 65 POINT 6  MILLION HEAD, UP 4 PERCENT. 

WEATHER
THOSE ARE THE HEADLINES...METEOROLOGIST MIKE  HOFFMAN JOINS US NOW WITH WEATHER... MIKE, TOO  MUCH RAIN FOR SOME, NOT ENOUGH FOR OTHERS. WILL  WE SEE ANY FIREWORKS FROM MOTHER NATURE OVER  INDEPENDENCE DAY HOLIDAY WEEK?  THANKS T. YEAH. OBVIOUSLY SOME AREAS WILL GET SOME SHOWERS AND THUNDERSTORMS AND THOSE FIREWORKS YOU TALKED ABOUT AS WE HEAD THROUGH THIS WEEK BUT OTHERS WILL NOT. WE'LL SHOW YOU THOSE MAPS COMING UP AND IN THE MEANTIME LOOK AT THE DIFFERENCE OVER THE LAST MONTH. WE HAD BIG DROUGHT CONDITIONS IN THE FAR SOUTHEAST ESPECIALLY FLORIDA A MONTH AGO. NOW IT'S THE NORTHERN PLAINS. LET'S GO BACK A MONTH TO SEE HOW THINGS WERE DIFFERENT. IT WAS ALREADY STARTING TO DRY OUT IN THE DAKOTAS. BUT AS WE MOVED THROUGH THE LAST FOUR WEEKS YOU SEE HOW THAT AREA HAS BEEN EXPANDING AND IT'S BEEN CONTRACTING IN THE FAR SOUTHEAST. I'M MOSTLY CONCERNED ABOUT THE HIGH PLAINS AT THIS POINT WITH A COUPLE OF POCKETS OVER INTO THE CENTRAL PLAINS. SO DAY BY DAY THIS WEEK SHOWERS AND THUNDERSTORMS IS A LOBBY OF THE SCATTERED VARIETY I DON'T THINK WE'RE GOING TO SEE ANY WIDESPREAD HEAVY RAINS THIS WEEK WITH THIS SYSTEM MOVING THROUGH THE CENTRAL PLAINS FRONT DOWN INTO FLORIDA. A COUPLE OF WEAK FRONTS THROUGH THE NORTHERN TIER OF STATES AND PARTS OF CANADA BY WEDNESDAY THEN THAT SYSTEM IS MOVING UP THE EASTERN SEABOARD WITH SHOWERS AND THUNDERSTORMS THERE AND DOWN THROUGH THE GULF COAST. JUST THOSE HIT AND MISS VARIETY AFTERNOON THUNDERSTORMS FOR THE SOUTHWEST AND A COUPLE OF SYSTEMS AGAIN THROUGH THE NORTHERN TIER STATES WITH SOME SHOWERS. BY FRIDAY THIS MIGHT BE A LITTLE BIT OF A STRONGER SYSTEM ALTHOUGH I DON'T THINK THERE'S GOING TO BE A LOT OF MOISTURE WITH IT BECAUSE AS YOU WILL. BECAUSE WE'RE GOING TO BE UNDER A BIG DOME OF HIGH PRESSURE IN THE UPPER ATMOSPHERE. SO THESE ARE JUST HIT AND MISS SHOWERS AND THUNDERSTORMS DOWN ALONG THIS FRONT MIGHT BE A FAIR AMOUNT OF RAIN IN PARTS OF SOUTHERN CANADA THERE AND HIT AND MISS IN FLORIDA AS WELL WITH LINGERING STATIONARY FRONT. WE'LL HAVE MORE ON YOUR LONGER RANGE FORECAST COMING UP IN OUR NEXT HALF HOUR. THANKS, MIKE.

TEASE
THE LATEST ACREAGE REPORT SHAKING UP THE  MARKET. BUT DOES IT SET THE STAGE FOR BIGGER  FIREWORKS TO COME? BOB UTTERBACK AND TOMMY  GRISAFI JOIN ME NEXT.

ROUNDTABLE 1
WELCOME BACK TO U.S. FARM REPORT THIS WEEKEND. WELL WOW. WE ENDED THE WEEK ON A HIGH NOTE USDA RELEASING THAT ACREAGE REPORT NOT WHAT EVERYONE EXPECTED. BOB UTTERBACK TOMMY GRASAFI ON THE ROUNDTABLE WITH ME THIS WEEK. I MEAN BOB IF YOU WERE BETTING IN VEGAS WOULD YOU HAVE BET IT ON THAT OUTCOME ON THE REPORT I MEAN UNCHANGED SOYBEAN ACRES. THE UNCHANGED SOYBEAN ACRES WAS TRULY THE SURPRISE IN THE REPORT. THE CORN ACREAGE UP WAS EVEN A SURPRISE. SO OVERALL EVEN THOUGH I'M CALLED THE BEAR I WAS NOT BETTING ON CORN ACRES BEING UP I WAS ASSUMING UNCHANGED WOULD BEEN REMARKABLE. BUT YES THIS WAS A SURPRISE FOR THE REPORT BUT IT COMPLETELY WASHED OUT BY THE WHEAT AND WEATHER.  SO TOMMY I MEAN WE CAN DEBATE IF THIS REPORT IS CORRECT OR NOT AND IF WE'LL SEE MORE CHANGES IN ACREAGE. BUT NO MATTER WHAT HAPPENS WITH THAT THE MARKET'S LOSS OF LIFE ON FRIDAY REGARDLESS OF WHAT THE USDA SAID IF YOU CALL YOUR GRAIN ELEVATOR THAT'S WHERE YOU'RE GOING TO SELL CASH YOU'RE GOING TO LIKE THE PRICES IF YOU OWN WHEAT SPECIALTY SPRING WHEAT. I THINK YOU'RE GOING TO BE DISAPPOINTED IF YOU HAVE OLD CORN BUSHELS THE PRICE YOU'RE GOING TO LOOK AT TODAY'S QUOTE SEE BEANS UP THEY CLOSED AND YOU'RE GOING TO BE DISAPPOINTED IN CORN THAT REALLY FOR THE WEEK THE MARKET HASN'T MOVED MUCH. AND WE'RE 20 CENTS FROM THE HIGH. NOW AS BOB SAID BEFORE THE SHOW COME IN THE FOURTH OF JULY WEEKEND FOURTH OF JULY IT'S FAMOUS FOR DRAMATIC OPENS UP OR DOWN AND WE'RE NOT GOING TO WE'RE SEEING 25 CENTS EVERY DAY AND HAVE CORN STAY DOWN THERE FOREVER. SO SOME EXCITING THINGS. BUT IN THE END WHEN IF YOU HAD THE PRICE CORN TODAY I THINK YOU'D BE DISAPPOINTED WITH THE PRICE YOU GET. YEAH BUT DESPITE SEEN HIGHER CORN ACRES CORN PRICES WERE STILL HIGHER ON FRIDAY. I MEAN IS IT JUST SOYBEANS PULLING THE PRICE UP. WERE THERE OTHER FACTORS THAT ARE PLAYING INTO THAT MARKET REMEMBER THE FUNDS WENT INTO THIS REPORT. THAT'S SHORT AND THAT'S WHAT WE'RE GOING TO FIND OUT. I THINK THE FUNDS PROBABLY REVERT BACK TO NEW. I DON'T KNOW IF WE'LL GET THAT LONG BUT I THINK THE FUN REVERSAL IS AND I THINK A LOT OF ASPECTS GET A LITTLE TOO SHORT GOING IN THE REPORT. AND YOU HAD THAT UNWINDING. BUT WHEN YOU COME BACK OUT FOR THE HOLIDAYS AND THE SIX TO 10 DAY FORECAST NEXT WEDNESDAY BECAUSE WE'LL TRADE SUNDAY NIGHT MONDAY FOR A HALF A DAY AND THEN WE'RE OFF TUESDAY AND WE DON'T TRADE THE WINS. SO WE COME IN WEDNESDAY MORNING AT 6:00 THE DANCE THAT'S HOT AND DRY IN THE PLAINS AND WEEDS UP CORN WILL BE PULLED. BUT AS SOON AS WHEAT LOSES ITS STEAM CORN IS GOING TO HAVE A REAL PROBLEM BECAUSE IT'S GOING TO HAVE UNTIL WE GET INTO THE COMBINES RUNNING THIS FLOW. YOU'VE GOT TO TAKE THESE NUMBERS AS REALITY. I PERSONALLY THINK OVER TIME WILL THE ACRES WILL WORK DOWN AND CONFIRMATION BECAUSE YOU GO BY STATE BY STATE BY STATE OHIO ON DOWN 50000 ACRES. IS IS I THINK LUDICROUS.  ALL RIGHT. WE'LL GET INTO THAT A LITTLE BIT MORE ON HISTORICALLY. WHERE DO YOU THINK WE SIT TODAY WHEN IT COMES TO ACRES AND IN MARKET ACTION. BUT TELL ME WHAT POSITION WOULD YOU HAVE ON THIS MARKET. I MEAN WE EXPECTED TO SEE A NEGATIVE REACTION IN THE MARKET BASED ON FRIDAY'S REPORT. AND THAT IS NOT WHAT WE SAW A PLEASANT SURPRISE. CAN THAT CONTINUE. IT CAN AND PEOPLE HAVE BEEN REALLY USED TO BUYING GRAIN AS THEY NEED IT. AND SO TYPICALLY ON A SHOW LIKE THIS WE'RE ASKING YOU KNOW GROWERS PROTECT DOWNSIDE BUT FLIPPING THAT AROUND THE END USER COULD BE CAUGHT FOR THE FIRST TIME IN A LONG TIME. SO IF YOU JUST THINK YOUR CASH IS GOING TO GO BUY IT IT'S GOING UP 25 CENTS A DAY. THAT MAY HAPPEN IN CORN. IT'S STARTING TO HAPPEN AND BEING SO SOMETIMES MEANS SELL OFF. WE GET A LITTLE FRIENDLY NEWS AND THEN ALL SUDDEN CHINA COMES BACK IN AND STARTS BUYING BEANS FROM THE STATES. WE'LL KNOW IN THE NEXT FEW WEEKS AS WE LOOK AT THE SALES. BUT YOU KNOW. ALL THE MARKETS ARE UP EVEN OATS AND EVERYTHING IS FINE. AND SO YEAH. BUT AGAIN I THINK A GROWER WOULD BE DISAPPOINTED WHEN THEY LOOK AT THE CORN PRICE AND I TRY TO LOCK IN I THINK MOST GROWERS ARE WATCHING THE SHOW STILL CAN'T MAKE MONEY GROWING CORN AT TODAY'S CURRENT LEVELS. SO WHEN WE LOOK AT THESE ACREAGE NUMBERS USDA STILL THINKS CORN TOPS SOYBEANS THIS YEAR NOT EXPECTED BUT THAT'S WHAT THAT'S WHAT USDA SAYS THE LAST TIME SOYBEAN ACRES TOPPED CORN.  WAS WHEN BOB. WELL BASICALLY THE YEAR 83 83 WAS A YEAR AND THEN 2001 WERE ONLY TWO YEARS THAT WE BASICALLY GONE ON AND BEEN ACRES RUN 83 WAS A VERY PICK AND ROLL AND VERY BEARISH SORT OF COMPARES. AND WE'VE GOT TO REMEMBER ALMOST 30 MILLION ACRES WAS PLANTED IN 83. WE WOULD ALL LOVE TO GO BACK TO 1983 CLINTON YEARS OR EVEN 2001. SO ALL THE ACRES WAS DOWN BECAUSE OF THE GOVERNMENT'S PIG PROGRAM.  RIGHT. AND THEN 2001 WAS BECAUSE WE'D COME OFF A BEARISH TIME PERIOD AND THE CORN AND BEAN ACRES WERE ESSENTIALLY UNCHANGED. JUST VERY CLOSE. BUT THIS IS 90 MILLION ACRES. WE'RE AT ACREAGE FIGURE NOW THAT. INCREASING DEMAND IN CHINA HAS BEEN THE BIG POINT FOR BEANS. NOW CHINA'S DRY AREA WOULD CONTINUE PROFESS WITH THE WHEAT THAT COULD BE THE THING THAT PROPELS MEANS. BUT I WOULD SAY TECHNICALLY BETWEEN NINE CLOSE AND 950 THAT NUMBER MEANS AS POSITIVE $10 IS GOING TO GO TO BE LIKE A ROCK. SO SIMPLY 9:15 TONIGHT IF YOU'VE GOT INCREASE BEING ACRES AND YOU KNOW YOU GOT TO INCREASE TEENAGERS I THINK YOU NEED TO GET SOME PRICING YOU.  BUT WE TALKED ABOUT THE OLD KRUPS STOCKS YOU KNOW AND THAT'S SOMETHING WE GOT AN UPDATED LOOK AT STOCKS. I MEAN WE HAVE SOME BERTUS AND SOME STOCKS ON OUR HANDS. DOES THE OLD CROP STOCKS CONTINUE TO BE A WET BLANKET ON THIS MARKET MOVING FOR TOMMY.  IT WILL. YOU KNOW WHAT WAS REALLY DISAPPOINTING CORN WAS THAT WE HAD THE FUNDS COVER A COUPLE HUNDRED THOUSAND AND THEN WE WENT RIGHT BACK DOWN AND ALMOST MAKE LOAN. SO WHAT WE'RE SEEING IN THE FUNDS COVERING THAT'S EXCITING WHEN THE FUNDS COVER THAT MUCH CORN AND THERE'S STILL THAT MUCH SELLING PRESSURE THAT MEANS THE OF THE FARMERS SITTING ON OUR CROP CORN AND THEY NEED TO PRICE A LOT OF IT SIT IN THE ELEVATORS AND TODAY IS ONE OF THE DAYS THAT MANY PEOPLE ARE CALLING SAYING I HAVE TO PRICE MY CORN TODAY WHAT DO I DO.  WELL DRIVING THROUGH THE COUNTRYSIDE YOU KNOW SAYING IS KNEE HIGH BY THE FOURTH OF JULY WHEN IT COMES TO THE CORN CROP. WELL IF YOU'RE UP IN OUR AREA IT'S NOT EVEN GOING TO BE KNEE HIGH THIS YEAR IN THE PAST YEARS IT'S BEEN LIKE SHOULDER HEAD HIGH. SO WE'LL TALK A LITTLE BIT ABOUT THESE CROP CONDITIONS AND WHAT THAT COULD MEAN EVEN POSSIBLY IF WE DO GET A HARVEST ROLLING IN THESE MARKETS WE'LL DO THAT WHEN WE COME BACK ON U.S. FARM REPORT.


ROUNDTABLE 2
ALL RIGHT. WELCOME BACK. WELL LET'S TALK ABOUT THE CROP CONDITIONS OUT THERE I MEAN WE. ARE OUR REPORTER BETSY JIBBEN DID A CROP TO HER THIS WEEK OHIO INDIANA. THERE'S A LOT OF AREAS THAT DON'T LOOK GOOD. CORN IS JUST VERY VERY SHORT AT THIS POINT. I MEAN IT LOOKS LIKE WE'RE RUNNING BEHIND AND WE CAN ACTUALLY USE SOME GROWING DEGREE DAYS BOB TO MOVE THIS ALONG. I THINK BUT 20 PERCENT OF THE CORN BELT IS IN TROUBLE. YOU KNOW IF YOU TOOK PARTS OF ILLINOIS INDIANA OHIO AND THEN THERE ARE SOME DAKOTAS. SO YOU ARE IN TROUBLE. YOU'VE GOT SOME GREAT CROPS IN MISSOURI. YOU'VE GOT SOME GREAT CUPS IN IOWA CAKE CUPS IN KENTUCKY. SO YOU KNOW IT'S THE OLD TALKING ON YOUR BACK DOOR SYNDROME WE GOT TO WATCH YOURSELF. PLUS THE FACT SOUTH AMERICA IS GOING TO HAVE BETWEEN 1.2 TO 1.4 BILLION MORE BUSHEL CORN AVAILABLE TO EXPORT MARKET IN STARTING PROBABLY MID-JULY ON. AND ON TOP OF THAT WE GOT OKRA IN THE TORIES. I WOULD SAY YOU ARE 10 TO 15 PERCENT ON AVERAGE MORE THAN EXPECTED AT THIS TIME OF YEAR WHICH IS PROBABLY ANOTHER 15 BILLION BUSHEL CROP IF YOU JUST WANT TO BE CONSERVATIVE BUT THERE'S PROBABLY ANOTHER BILLION BUSHELS. WE'VE GOT PLENTY OF CASH PRESSURE AND CORN AND NOT TO SAY THAT HAS ALL COME TO MARKET BUT DOES THAT DILUTE IN MID-JULY TO AUGUST THAT WILL HIT THE MARKET. IT'S THE ONLY WAY OVERPOWERED IS WITH US WHETHER IT'S WHETHER SCARES OVER THEN THE CASH PRESSURE WILL TAKE OVER I THINK I SPOKE ABOUT THAT BEFORE I AGREE WITH BOB BAER AND YOU KNOW MAYBE PEOPLE AREN'T KIND OF LIKE IT AND WE COULD BE AS BULLISH AS WE WANT BUT THAT SECOND HARVEST IS HAPPENING. NOW THERE'S ALL THESE OLD BUSHELL'S THE BASIS IS WIDENING INTO A RALLY IN MARKET. THAT'S NOT BECAUSE WE'RE RUNNING OUT OF CORN. THE AMERICAN FARMERS FORGETTING HOW MUCH CORN THEY GREW IN SOUTH AMERICA AND THEY HAD THAT BOOST THE YEAR BEFORE AND PRICES BECAUSE SOUTH AMERICA HAD A WEATHER PROBLEM. ABSOLUTELY ZERO WEATHER PROBLEMS. IT'S A WORLD MARKET. AND LET'S HOPE HE KEEPS RALLYING TO KEEP CORN GOING. I LOVE WHEN THE MARKETS GO UP. I DON'T HAVE A PROBLEM WITH IT. I HOPE ALL THE GROWERS OUT THERE ARE LISTENING. THEY DO. BUT THAT'S JUST NOT THE REALITY.  A COUPLE OF MONTHS AGO I DON'T THINK WE WOULD IMAGINE THAT WE WERE TALKING ABOUT WHEAT AND CORN PRICES HIGHER. BUT ME TALK ABOUT THIS A FRINA CORN CROP IN SOUTH AMERICA. DO YOU THINK THE SIZE OF THAT CROP IS REALIZED IN THIS MARKET YET.  IT WILL BE IF A BOAT COMES AROUND THAT THE EAST COAST AND DROPS HIM OFF FOR THE CHICKENS OUT THERE. YOU'LL SEE THE MARKET REACT TO IT. SO WHEN THEY WHEN PEOPLE IN AMERICA CAN LOAD CORN IN A BOAT AND BRING IT AROUND THE COAST AND FEED AN ANIMAL WITHIN IT WILL SHOCK PEOPLE.  AND IF CORN GETS TOO HIGH HERE IN THE STATES THEY'LL DO THAT AT THIS POINT. THAT CORN IS TOO HIGH.  IT'S ALL RELATIVE BASED ON I HAVE CUSTOMERS WHO SELL CORN 80 UNDER AND I HAVE CUSTOMERS WHO SELL 80 OVER THE BOARD. SO WHERE ARE YOU SITTING. I MEAN YOU KNOW SOME PEOPLE ALWAYS THINK IT NEEDS TO GO UP. SO IF WE DO SEE THIS CORN RALLY AND WHEN DO YOU THINK THAT COULD POSSIBLY TAKE PLACE. I MEAN YOU'RE COMPARING THIS YEAR TO WIN IN HISTORY.  I THINK THIS YEAR IS 1993 OR 2005 THAT WE HAVE THE SUMMER BOUNCE. DON'T GET ME WRONG. WE GET THE SUMMER BALANCE BETWEEN NOW AND JULY. BUT THE TRUE THE TRUE RALLY WILL BE WHEN WE CONFIRM AFTER THE FIELD TRIALS AND THE COMBINE START TO RUN AND WE ACTUALLY FIND ALL THOSE HOLES OUT THERE AND THE POOR CONDITION RATINGS ARE FINALLY CONFIRMED AND THE ACRES REDUCED AND THE BIN DOOR SHUT. I THINK THE TRUE RALLY I THINK THE SUPER CORN WILL GO OFF ITS HIGH AT ITS HIGH THIS YEAR.  IT'LL BE A VERY VERY RARE EVENT PROBABLY ONLY FIVE OR SIX TIMES IN THE LAST 47 YEARS EVEN KENTUCKY LIKE THIS. SO THAT'S FOUR DIFFERENT BALL THAT WE REALLY SHOULD BE USED FOR. PROBABLY THE LAST 50 PERCENT OF YOUR 0 17 CORN AND STARTING 0 18 CORN IT SHOULDN'T BE FOR YOUR OH 16 AND 15 CORN ON THE BEAR.  WELL TOMMY YOU TALKED ABOUT WE KIND OF CARRYING THESE CORN PRICES HIGHER TODAY. DO YOU THINK THERE'S MUCH LIFE TO GO GO EVEN HIGHER.  REGARDLESS IF IT GOES HIGHER IT'S STILL GIVING YOU THE ABILITY TO PROTECT SO I HAD TEN GROWERS CALL ME IN THE LAST 24 HOURS ASKING HOW THEY HEDGE. EIGHTEEN WHEAT AND THEY COULD BE IN TEXAS THEY COULD BE IN NORTH DAKOTA GROWERS WHO DIDN'T GROW WHEAT THIS YEAR SAY IF WE KEEP TRAVELING LIKE THIS I'M A START HEDGING THE WHEAT. I'M GROWN 18. SO WE WENT FROM A PRODUCT THAT NOBODY WANTED TO GROW TO. HOW DO I PROTECT PRICE. I MADE A PROFIT AGAIN. PROFITS NEED TO BE PROTECTED. MARGINS ARE TIGHTENING.  I REALLY BOB. ANOTHER THING IS THERE WAS CARRYING THE WEIGHT OF CHICAGO. AND SO A LOT OF ELEVATORS WILL FILL UP WITH THE WE CARRY RATHER THAN THE CORN CARRY. SO ALSO WE DON'T HAVE SPACE TO STORE CORN THIS FALL IF WE DON'T WATCH YOURSELF.  ALL RIGHT WE'LL TAKE A BREAK BUT WE'LL GET THEIR CLOSING THOUGHTS WHEN WE COME BACK ON US FORMER.


MARKETS NOW
ALL RIGHT TIME NOW FOR CLOSING THOUGHTS THAT'S BOB UTTERBACK AFTER SECOND WEEK OF AUGUST YOU'D NEED TO BE ON ALERT AS PRODUCERS HOLDING OLD CROP HEDGES AND DEC AND SEP TO ROLL FORWARD AND CAPTURE CARRY. IF YOU GET TO DEC/DEC ACARRY FROM 23 RIGHT NOW DOWN TO 40, YOU'VE GOT TO GET ALL YOUR HEDGES IN THE '18 BECUASE BECAUSE I THINK THAT CARRY WILL DISAPPEAR AND REDUCED CONDITIONS AS WE GO INTO A FULL TIME PERIOD. ALL RIGHT TOMMY. WE HAD A FROST THIS WEEK IN THE DAKOTAS AND THERE'S NO REASON WE COULDN'T HAVE A FROST AGAIN IN AUGUST SO IF YOU WANT A SURPRISE YOU WANT TO SEE A BIG BEAN REALLY GET AN AUGUST 15TH AUGUST 25TH FROST AND WE'D BE TALKING 11, $12 BEANS AGAIN.THEY'RE HAVING A STRANGE WEATHER ENVIRONMENT AND IT LOOKS LIKE IT'S JUST GOING TO CONTINUE. SO THE SURPRISES AREN'T OVER FOR THIS YEAR.  ALL RIGHT SURPRISES YET TO COME. ALL RIGHT LET'S TAKE A QUICK BREAK AND WE'LL BE RIGHT BACK WITH JOHN PHIPPS.

JOHN’S WORLD
WELCOME BACK.  WE'VE ALL HEARD THE STORIES ABOUT JOHN'S LOVING  WIFE JAN AND HOW SHE'S A MASTER GARDENER. I'VE  SEEN HER WORK IN PERSON, AND IT'S IMPRESSIVE. SO  IS HER LOVE FOR GARDENING RUBBING OFF ON JOHN?  LET'S CHECK IN WITH HIM FROM THE FARM.  LAST FALL I PUT IN A POLLINATOR PLOT. FOR THOSE OF YOU  UNFAMILIAR WITH THAT YOU CAN LOOK IT UP IT'S PART OF THE  CONSERVATION RESERVE PROGRAM C.P. 42 AND IT'S DESIGNED TO  HELP PROVIDE MORE HABITAT FOR POLLINATORS. IT IS FOR ME. I JUST USED  IT TO CLEAN UP A PRETTY AWKWARD FIELD IT SQUARES OFF. YOU CAN SEE  A VERY IRREGULAR FIELD. THIS IS HIGHLY A NOTABLE GROUND THAT NEVER  YIELDED WELL SO WHILE I COULD SEE I WAS DOING THIS FOR ALL KINDS OF  VIRTUOUS REASONS MOSTLY I JUST WAS TIRED OF TRYING TO FARM THIS AND  MAKE ANY MONEY ON. OK. THE CERP RATES PLUS RIGHT NOW YOU'RE  IN A KIND OF WINDOW HERE WHERE THE SEA OR THE RATES ARE VERY  COMPETITIVE FOR THIS YEAR AND MAYBE NEXT YEAR. SO IF YOU'RE  THINKING ABOUT IT DO IT RIGHT AWAY. NOW THE GOAL IS TO END UP WITH  SOMETHING A LITTLE LIKE THIS. THERE'S A BEAUTIFUL MEADOW WITH ALL  KINDS OF NATIVE PLANTS AND GRASSES AND MULTICOLORED FLOWERS AND  OF COURSE A PLETHORA OF WHY A WILDLIFE AND LIFE AND POLLINATORS.  THE REALITY IN THE FIRST YEAR IS A LITTLE BIT MORE DISCOURAGING. I JUST  GOT BACK FROM A MEETING LAST WEEK WHERE THERE WAS A LOT OF  HAND-HOLDING BY THE GOOD PEOPLE IN OUR C-S AND THE SOIL WATER  AND ESPECIALLY PHEASANT'S FOREVER ABOUT YOU KNOW TAKE A BREATH.  THIS IS WHAT IT'S LIKE. I DO GET TO MOW IT TWICE THIS YEAR MOWED UP  HIGH AND HOPEFULLY WE'LL GET THROUGH THIS FIRST FLUSH OF WEEDS.   THEY ASSURED ME THAT YOU REMEMBER THIS WILL TAKE THREE OR FOUR  YEARS TO GET ESTABLISHED WHICH IS KIND OF NOT A WHOLE LOT OF  COMFORT. I DO HAVE SOME THINGS DOING GOING RIGHT. WE'VE GOT A  LOT OF BLACK EYED SUSANS OUT THERE. SOMETHING MAY HAVE SOME  CONEFLOWERS I DON'T KNOW. AND THEY TOLD ME TO LOOK FOR THIS LITTLE  ANIMAL HERE OR THIS LITTLE SPECIMEN. IT'S A PARTRIDGE PEA. NEVER  HEARD OF IT BEFORE BUT IF YOU'VE GOT SOME OF THOSE COMING UP AT  LEAST IT TELLS YOU YOU DID GET SEATED IN THAT AREA. SO THEY WERE  VERY HELPFUL AND I'M A LITTLE BIT CALMER ABOUT IT. I'LL FEEL BETTER  WHEN I GET THIS MODE OFF. BUT THE REALLY BAD THING FOR ME IS THE  FACT THAT I'VE BEEN LIVING WITH A PASSIONATE DEVOTED GARDENER FOR DECADES AND SITTING IN THE BACKGROUND ROLLING MY EYES AS SHE  WENT ON AND ON ABOUT SWEET AUTUMN CLEMATIS OR SOMETHING LIKE  THAT. NOW I'M OUT HERE CRAWLING AROUND ON MY HANDS AND KNEES  TO SEE IF MY FOXGLOVE BEARD. AND YES THAT TURNS OUT TO BE A REAL  THING IF IT'S COMING UP. I'VE SOMEHOW MANAGED TO TURN INTO A 20  ACRE FLOWER GARDENER.

TEASE
THANIKS, JOHN. FARMERS LOVE TO PLANT CORN. BUT  USDA PROVED THIS YEAR, IT'S SOYBEANS WINNING  OVER FARMERS' HEARTS, ACRE BY ACRE.  SO, COULD THIS FINALLY BE THE DECADE OF THE BEAN?  THAT'S NEXT ON U-S FARM REPORT. 

HEADLINES
WELCOME BACK TO US FARM REPORT. WE HAVE MUCH MROE AHEAD. BPI AND ABC HAD MAJOR BEEF... BUT IT WAS AN ABRUPT  HALT TO A LONG LAWSUIT.  ARE WE OFFICIALLY IN THE DECADE OF THE BEAN?  THAT'S OUR FARM JOURNAL REPORT. HE'S AN AMERICAN LEGEND WHO WORKED TO KEEP  WAR HEROS' LEGACY ALIVE.  AND NOTHING SAY AMERICA LEADING INTO INDEPENDCE  DAY LIKE A DEBATE OVER TOWNSHIPS IN CUSTOMER  SUPPORT. 

PINK SLIME CASE
NOW FOR THE HEADLINES, IT'S A STORY MAKING WAVES  SINCE POSTED IN 2012. ABC NEWS DUBBING THE  PHRASE PINK SLIME. IT'S THAT REPORTING THAT BPI  CLAIMED TURNED CUSTOMERS AWAY FROM THE BEEF,  FORCING A PORTION OF THE BUSINESS TO CLOSE IT'S  DOORS. BUT ON WEDNESDAY, IT WAS B-P-I WITH THE  LAST WORD.  BPI AND ABC ANNOUNCING THEY REACHED A  SETTLEMENT ON THE DEFAMATION AND LIBEL LAWSUIT.  BPI CLAIMED THAT ABC'S USE OF PINK SLIME IN THEIR  STORIES MISLED VIEWERS, FORCINFG THE LAYOFF OF  700 WORKERS.  WHILE THE DETAILS OF THE SETTLMENT AREN'T BEING  RELEASED, IF BPI WOULD HAVE WON THE TRIAL, THE  PAYOUT WAS AS MUCH AS 5 POINT 7 BILLION DOLLARS.  <IT'S BEEN A LONG ROAD FOR BPI. BUT IT WAS A ROAD NECESSARY TO  HAVE THIS LITIGATION, TO HAVE THIS TRIAL, IN ORDER TO RECTIFY THE HARM  THAT WAS CAUSED BY WHAT WE BELIEVE TO BE BASELESS AND BIAS  REPORTING THAT OCCURED IN 2012> DESPITE THE SETTLEMENT, ABC STANDING BY THE  REPORTING, SAYING THIER REPORT ACCURATELY  PRESENTED THE FACTS AND VIEWS OF KNOWLEDGABLE  PEOPLE.  ABC ALSO NOT REQUIRED TO RETRACT ANY OF THEIR  REPORTING.

PROPOSING TO RESCIND WOTUS
THE TRUMP ADMINISTRATION HOLDIGN TRUE ON IT'S  PROMISE TO ROLL BACK WHAT IT VIEWS AS COSTLY  REGULATIONS. JUST THIS WEEK, THE E-P-A AND CORPS OF ENGINEERS  FORMALLY PROPSOING TO RESCIND THE CLEAN WATER  RULE, IN TURN, STRIPPING APART THE  OBAMA  ADMINSTRATION'S "WATERS OF THE U-S RULE". WITH THE PROPOSAL, THE AGENCIES WILL ABIDE BY A  2008 GUIDANCE DOCUMENT WHEN REVIEWING  WATERWAYS.  THIS IS THE TRUMP ADMINISTRATIN'S FIRST STEP, BUT  THERE ARE STILL PLANS TO SEPERATELY WRITE A NEW  REGILATION TO REPLACE THE WTAER RULE.  THE TRUMP ADMINSTRATION ALSO CLAIMING A TRADE  VICTORY, WITH THE SHIPMENTS OF U-S BEEF ENTERING  CHINA FOR HTE FIRST TIME IN 14 YEARS.  AG SECRETARY SONNY PERDUE ON HAND TO MARK THE  OCCASION. EVEN MEETING WITH THE NEW  AMBASSADOR TO CHINA, FORMER IOWA GOVERNOR  TERRY BRANDSTAD.  <WE THINK THERE'S AN OPPORUTNITY FOR CHINA TO ELAD THE WAY INT HE  FUTURE RELATIONSHIP OF COMMERCE BETWEEN OUR TWO WONDERFUL  COUNTIRES> UNDER A NEW AGREEMENT, CHINA WILL ACCEPT  BONLESS AND BONE-IN BEEF PRODUCTION FROM  CATTLE 30 MONTHS OF AGE. BUT THE PRODUCT MUST  BE FROM CATTLE THAT CAN TRACE BACK TO THE  BIRTHPLACE.  AT THIS POINT, LESS THAN 10 U-S  SUPPLIERS ARE  ELIGIBLE TO SHIP TO CHINA. 

BRAZIL MEAT CORRUPTION
TEH CORRUPTION CLAIMS OVER THE MEATPACKING  GIANT J-B-S JUST HEATING UP.. BRAZIL'S ATTORNEY GENERAL IS FORMALLY ACCUSING  PRESIDENT MICHEL TEMER OF CORRUPTION.  TEMER ACCUSED OF TAKING 150 THOUSAND DOLLARS  IN BRIBES FROM JBS, MARKING THE FIRST TIME A  SITTING BRAZILIAN PRESIDENT FACED CRINIMAL  CHARGES.  TEMER  DENIED WRONGDOING AND SAID HE REFUSES  TO RESIGN DESPITE NUMEROUS CALLS FOR HIM TO DO  SO AND PLUNGING POPULARITY.

DAKOTA DROUGHT
DROUGHT TIGGHTENING ITS GRIP ON THE NORTHERN  PLAINS. EXTREME DROUGHT NOW TAKING OVER 25 PERCENT OF  NORTH DAKOTA.  90 PERCENT OF SOUTH DAKOTA NOW SEEING SOME  LEVEL OF DROUGHT, WITH A THIRD CONSIDERED  SEVERE.  AND 25 PERCENT OF MONTANA NOW UNDER SEVERE  DROUGHT.  DROUGHT ALSO GROWING IN OKLAHOMA. 12 PERCENT  OF THE STATE SEEING MODERATE DROUGHT.  SPEAKING OF DROUGHT, IT'S BEEN NEARLY FOUR  MONTHS SINCE WILDFIRES SWEPT THROUGH THE  SOUTHERN PLAINS, AND DESTROYED HOMES,  LIVESTOCK AND FORAGE, YET REBUILDING IS ONGOING. MORE THAN 18 THOUSAND MILES OF FENCE WAS  RUINED ACROSS TEXAS, OKLAHOMA, KANSAS AND  COLORADO AND THE ESTIMATED AVERAGE COST TO  REBUILD IS 10-THOUSAND DOLLARS A MILE AND  PRODUCERS STILL HAVE A LONG WAY TO GO. <"IT'S STEADILY GOING ON. "IT WILL TAKE SEVERAL MONTHS TO REBUILD ALL  THE FENCE. MOST PEOPLE ARE WORKING ON THEIR PERIMETER FENCES  AND THEN WHEN THEY FINALLY GET MORE TIME, THEY WILL LOOK AT  INTERIOR FENCES. IT'S IN TIMES OF NEED RURAL AMERICA STEPS UP TO  THE PLATE.. AND THAT'S EXACTLY WHAT'S UNFOLDING  TODAY. 

WILDFIRE CHALLENGE
DROVERS, THE FARM JOURNAL FOUNDATION AND THE  HOWARD G BUFFETT FOUNDATION HAVE TEAMED UP  AND CREATED THE DROVER/FARM JOURNAL  FOUNDATION MILLION DOLLAR WILDFIRE RELIEF  CHALLENGE. YOU HAVE UNTIL JULY 31 TO HELP AND THE  HOWARD G. BUFFETT FOUNDATION WILL MATCH YOUR  EFFORTS 

WEATHER
THAT'S IT FOR NEWS...METEOROLOGIST MIKE  HOFFMAN JOINS US NOW WITH THE NATIONAL  FORECAST. MIKE, WE'VE BEEN TALKING ABOUT  RELENTLESS DROUGHT... AND THAT SITUATION ISN'T  GETTING ANY BETTER FOR OUR VIEWERS IN THE  NORTHEN PLAINS.  YEAH THANKS. NO IT HASN'T AND A LOT OF TIMES DROUGHT BREEDS  MORE DROUGHT BECAUSE YOU HAVE NO MOISTURE TO EVAPORATE AND  FORM SHOWERS AND STORMS SO THAT'S THE SITUATION WE HOPE WE GET  OUT OF HERE THE JET STREAM YOU CAN SEE AS WE START THIS WEEK STILL  A LITTLE BIT OF A TROUGH IN THE NORTHEAST AND THE GREAT LAKES  KEEPING THINGS PLEASANTLY WARM. THE HEAT IS GOING TO REMAIN IN  THE WESTERN HALF OF THE COUNTRY AND YOU CAN SEE THAT CONTINUES  AS WE HEAD THROUGH THE END OF THE WEEK. WE MIGHT SEE ANOTHER  TROUGH KIND OF DIVING IN THERE AS WE HEAD INTO NEXT WEEKEND AND  THAT COULD BRING ANOTHER COOLER SHOT TO THE NORTHEASTERN AREA. SO  MY 90 DAY OUTLOOK FIRST FOR JULY ABOVE NORMAL FOR MOST OF THE  NATION'S MIDSECTION IS NEAR NORMAL EAST AND THE FAR WEST.  AUGUST TEMPERATURES FROM THE MID-ATLANTIC THROUGH THE PLAINS  INTO THE SOUTHWEST. ABOVE NORMAL NEAR NORMAL AROUND IT AND  SEPTEMBER THE VAST MAJORITY OF THE LOWER 48 EXCEPT THE  SOUTHEAST EXPECTED TO BE ABOVE NORMAL. THAT'S ONLY BECAUSE  YOU'RE GOING TO BE ON THE WET SIDE. YOU ARE WET NOW AND I'M STILL  GOING ABOVE NORMAL FROM THE GULF COAST UP TO THE GREAT LAKES  AND INTO THE NORTHEAST BELOW NORMAL FOR MANY PARTS OF THE  SOUTHWEST. TYNE.  THANKS, MIKE.

FARM JOURNAL REPORT
IT'S A SAYING I HEAR FROM ANALYSTS EVERY YEAR--  FARMERS LOVE TO PLANT CORN. BUT AS USDA SHOWED  US, FARMERS ARE STARTING TO CHANGE THEIR TUNE.   MONSTEROUS YIELDS AND MORE ENTICING PRICES THE  FIRST HALF OF THE YEAR CREATIGN A GROWING  APPETITE FOR SOYBEANS THIS YEAR.  IN THIS FARM JOURNAL REPORT, WE EXPLORE IF THIS  COULD PROPEL US INTO THE DECADE OF THE BEAN.  FIELD AFTER FIELD, A BIRDSEYE VIEW REVEALING A  MAJOR SHIFT TAKING OVER AMERICAN FARM FIELDS.  <WE'RE SEEING SUBSTANTIALLY MORE BEANS THAN CORN> THE SURGE IN SOYBEAN ACRES VISIBLE ACROSS THE  COUNTRY, INCLUDING AMONG THESE OHIO FIELDS.  <WE DROPPD ABOUT 20 PERCENT OF OUR CORN ACRES AND JUST WENT TO  BEANS BECAUSE WE JUST HADN'T PLANTED YET. WE GOT INTO EARLY JUNE  AND WE JUST DECIDED TO FORGET IT> WHILE THESE FARMERS ARE MAKING HISTORY, OTHERS  ARE WATCHING IT UNFOLD, WITNESSING A NEW ERA  BEING BORN.  <IF WE DON'T SEE MORE SOYBEAN ACRES THAN CORN THIS YEAR, WE ARE  DEFINITELY GOING TO SEE IT SOMETIME IN THE NEAR FUTURE> A HISTORICAL VIEW OF PROSPECTIVE PLANTINGS  SHOWS SOYBEAN ACRES COULD TOP CORN FOR THE  FIRST TIME IN NEARLY 35 YEARS. THE ONLY OTHER TIME  IN HISTORY SOYBEANS WON OUT WAS IN 1983. THAT  WAS IN THE MIDST OF THE 1980S FARM CRISIS WHEN  THE U-S GOVERNMENT  IMPLEMENTED THE PIK  PROGRAMING, ESSENTIALLY PAYING FARMERS TO LET  CORN ACRES SIT IDLE.  WHILE TODAY'S ECONOMICS ARE PLAYING INTO  SOYBEAN ACRES' FAVOR, IT'S A SHIFT THAT HASN'T  HAPPENED OVERNIGHT. <WE SEE THE GROWING AREA EXPANDING, WE SEE THE VOLUME  EXPANDING. IN THE SIX OR 7 YEARS I'VE BEEN INVOVLED WITH SOYBENA  BOARD, WE'VE SEEN ABOUT A 30 PERCENT GROWTH IN THE VOLUME OF  HTE U.S. CROP> THE SURGE IN VOLUME AND ACRES ALSO SUPPORTED  BY EXPLODING YIELDS.  <FOR THE FIRST TIME I CAN TELL YOU, WE'RE BREEDING SOYBEANS WITH  THE SAME KIND OF INTENSITY THAT WE WERE BREEDING CORN> ROBB FRALEY IS MONSANTO COMPANY'S CHIEF  TECHNOLOGY OFFICER. HE'S REFERRED TO AS THE  FATHER OF BIOTECHNOLOGY, DEVELOPING THE FIRST  GMO CROPS IN THE 1980S. HE SAYS FARMERS ARE  SIMPLY GROWING BETTER BEANS.  <I SEE FARMERS PUTTING HTE SAME TYPE OF PLANTING, DEISEASE  CONTROL, AGRONOMY PRACTICES INTO SOYBEANS, SO I HTINK IT'S A  COMBINATION OF WE'RE PUTTING MROE RESEARACH INTO IT AND FARMING  BEANS, AND IT'S PAYING OFF> <I THINK WE'RE SEEING SOME SIGNIFICANT INCREASES, I MEAN JUST  SOME OF THE YIELDS SOYBEAN FARMERS HAD CONSISTENTLY ACROSS  THEIR FIELDS, HEARING REPORTS OF 70, 75 BUSHEL YIELDS  I DO THINK  THAT'S PROBABLYT EH PRODUCT OF BOTH BETTER GENETICS  BIOTECH  AS  SOME OF THE OTHER TECHNOLOGIES ABOUT THE SEED TREATMENTS, > LAST FALL, FARM JOURNAL AGRONOMIST KEN FERRIE  SAW FARMERS CONSISTENTLY YIELD 80 TO 90 BUSHELS  PER ACRE IN CENTRAL ILLINOIS FIELDS. AND HE SAYS IT  WAS THE APRIL PLANTED BEANS BOASTING SUCH BIG  YIELDS.  AG COMPANIES LIKE BAYER ARE PUTTING RESEARCH  DOLLARS BEHIND DEVELOPING NEW SEED  TREATEMENTS, SAYING IT'S ONE WAY FARMERS CAN  FIGHT EARLY SEASON EXTREMES.  <WHEN YOU TALK ABOUT SHIFTING TO AN APRILP LANTING, WE'VE SEEN UP  TO A 20 BUSHEL BENEIFTS FROM GOING THAT EARLY WITH THE PALNTER> ACCORDING TO U-S-D-A, SINCE 1993, THE NATIONAL  AVERAGE SOYBEAN YIELDS CLIMBED 20 BUSHELS PER  ACRE, WITH THE RECORD REACHED LAST YEAR, AT 52  POINT 1 BUSHELS PER ACRE.  AS FARMERS GET BETTER AT GROWING BIGGER  BEANS... 100 BUSHEL AVERAGES MAY BE IN A FIELD  NEAR YOU SOONER THAN MANY THINK.  <IT'S REALLY CLOSE. I MEAN YOU KNOW THIS YEAR, WE HAD OUR AWARDS  DINNER AND THERE WERE A LOT OF GUYS WITH 300 BUSHEL CORN AND A  LOT OF GUYS WITH 100 BUSHEL BEANS> <YOU KNOW, I'M EXCITED. I THINK WE'RE GONG TO CONTINUE TO SEE  THOSE JUMPS, PARTICULARLY AS I THINK WE'RE JUST ON THE CUTTING EDGE  OF BRINGING INTO PLACE THE YIELD DATA AND FIELD DATA TO TRY TO HELP  US MORE PRESCRIPTION FARM> FRALEY SAYS IT'S NEW TEFHNOLOGY AND  PRESCRIPTION FARMING THAT COULD BREAK THE YIELD  CEILING, LAUNCHING ANOTHER SURGE FOR SOYBEANS.  . SOYBEANS ARE LEADING THE CHARGE ON ACREAGE  THIS YEAR, BUT THE ANSWER TO JUST HOW BIG THIS  YEAR'S CROP WILL BE, IS STILL IN THE MAKING. THE LATEST CROP PROGRESS REPORT SHOWS 66  PERCENT IS CONSIDERED GOOD TO EXCELLENT, DOWN  A POINT FROM LAST WEEK. UP NEXT, JOHN PHIPPS. . 

CUSTOMER SUPPORT
HEADING INTO THE FOURTH OF JULY HOLIDAY, JOHN  GETS PATRIOTIC WITH A DEBATE REGARDING  TOWNSHIPS. JOHN.  BOB FRISK, FROM NEW RICHLAND, MINNESOTA DEFENDS HIS TOWNSHIP  GOVERNMENT. "I TOTALLY DISAGREE WITH YOUR OPINION ON TOWNSHIP GOVERNMENT.  HERE IN MINNESOTA, AT LEAST IN MY PART OF THE STATE, OUR TOWNSHIP  SUPERVISORS ARE EXTREMELY EFFICIENT, & CERTAINLY NOT HIGHLY PAID. IF  WE HAVE A PROBLEM WITH A ROAD FOR EXAMPLE, WE CALL OUR  NEIGHBOR THE SUPERVISOR, & HE'S RIGHT THERE TO DEAL WITH THE  PROBLEM. WHEN YOU MENTION COUNTY GOVERNMENT BEING MORE  EFFICIENT THAN TOWNSHIP GOVERNMENT, I SAY PHOOEY!!!!" BOB, THANKS FOR THE RESPONSE AND FOR INCLUDING YOUR ADDRESS. I  THINK THIS IS ONE QUESTION THAT FALLS UNDER THE CATEGORY OF "YOUR  RESULTS MAY VARY". I NOTE IN YOUR ANSWER YOU ADDED THE QUALIFIERS  "IN MINNESOTA" AND "MY PART OF THE STATE". I SUSPECT BUT CANNOT PROVE THAT THOSE RESULTS MAY BE DEPENDENT  ON POPULATION DENSITY. MY TOWNSHIP IS ROUGHLY 36 SQUARE MILES.  WHILE TOWNSHIP LEVEL POPULATION DATA ARE NOT EASY TO FIND, I CAN COME CLOSE BY COUNTING FROM KNOWING WHO LIVES WHERE, AND MY  GUESSTIMATE IS NO MORE THAN 200 PEOPLE LIVE IN IT. A POPULATION  DENSITY OF MAYBE 5 PEOPLE PER SQUARE MILE, THEN. FOR US THAT  SEEMS TO BE BELOW THE THRESHOLD FOR ENOUGH PARTICIPATION TO  MAKE A TOWNSHIP WORK. I DIDN'T HAVE TIME TO MENTION BEFORE BUT THOSE OF US IN ILLINOIS  COULD CHANGE THIS. COUNTIES CAN VOTE TO ABOLISH TOWNSHIPS, BUT  ONLY THREE HAVE HERE. FINALLY, I DRIVE THREE MILES CROSS THE LINE TO INDIANA AND COMPARE  THEIR NO-TOWNSHIP GOVERNANCE TO OURS. PEOPLE STILL GRIPE BUT LOCAL  GOVERNMENT, BUT I NOTICE THEY SEEM TO MANAGE CRUCIAL DECISIONS  A LITTLE MORE EFFICIENTLY. RURAL SCHOOL CONSOLIDATION WAS  ACCOMPLISHED DECADES AGO TO GREAT OUTCRY, BUT AT LEAST THEY  HAVE VIABLE SCHOOLS, WHILE TRYING TO MERGE TWO TINY SCHOOLS IN  ILLINOIS IS EXHAUSTING. CAN TOWNSHIP GOVERNMENT BE BENEFICIAL  AND COST EFFECTIVE? ABSOLUTELY. IS IT WORKING IN DEPOPULATING  COUNTIES LIKE MINE? NOT VERY WELL VERY OFTEN.

TEASE
THANKS, JOHN. IF YOU HAVE A COMMENT, EMAIL JOHN  AT MAILBAG AT U-S FARM REPORT DOT COM. UP NEXT, REMEBERING AN AMERICAN LEGEND.

AMERICAN COUNTRYSIDE
IT'S ORDINARY PEOPLE IN RURAL AMERICA WHO OFTEN  HAVE THE BEST STORIES... AND IT'S THOSE STORIES  OFTEN LEFT UNTOLD. BUT ONE AWARD WINNING AUTHOR MADE IT HIS  PERSONAL MISSION TO CHANGE THAT, MOST NOTABLY  KNOWN FOR HIS FOLKSY STYLE WARTIME REPORTS.  WHILE ERNIE PYLE HONORED AMERICAN SOLDIERS  THROUGH HIS MEMORABLE WORDS, IT'S PYLE'S LIFE WE  HONOR IN THIS MONTH'S EDITION OF AMERICAN  COUNTRYSIDE.  ERNIE PYLE WAS BORN ON AUGUST 3RD, 1900, SOUTH OF DANA, IN  NEAR THE STATE'S BORDER WITH ILLINOIS.  THE SON OF TENANT FARMERS,  ERNIE HAD DREAMS OF VENTURING FAR BEYOND THE FIELDS NEAR HOME. (ERNIE DIDN'T WANT TO FARM - DIDN'T LIKE LOOKING AT THE SOUTH END OF  A NORTH BOUND HORSE - AND WENT TO INDIAN UNIVERSITY TO BE A  JOURNALIST.  HE WROTE TRAVEL COLUMNS WHEN HE STARTED HIS FAMOUS CAREER  WANDERING THE UNITED STATES PYLE TRAVELED THE NATION DURING THE DEPRESSION ERA WHEN MOST  PEOPLE DIDN'T HAVE THE MEANS OR THE ROADS TO DO SO.  THOSE  STORIES BECAME A SIX-DAYS-A-WEEK NATIONAL NEWSPAPER COLUMN,  READ COAST-TO-COAST.  BUT IN 1940, HIS STORIES WOULD CHANGE. (HE WAS DRAWN TO COVER THE BLITZ IN ENGLAND AND HE WAS SENT BY  THE SCRIPPS HOWARD NEWSPAPERS SO HE WAS AN OFFICIAL  CORRESPONDENT COVER THE BRITISH ASPECTS OF THE WAR.  AND SOME  PEOPLE - SCHOLARLY PEOPLE - SAYS THAT MAY HAVE HELPED INFLUENCE  THE AMERICAN ENTRY INTO THE WAR  WHEN THE AMERICANS DID ARRIVE IN EUROPE AND NORTH AFRICA, PYLE  WAS THERE, USUALLY WITH THE INFANTRY.  THIS MUSEUM IN PYLE'S  HOMETOWN SHARES THE STORY OF THE BOYHOOD HERO AND THE WAR ITSELF.   (HE WOULD GO UP AND TYPICALLY SET AROUND AND TALK TO THEM FOR  TWO OR THREE OR FOUR DAYS.  HE HAD A NOTEBOOK IN HIS POCKET.   HE'D WRITE DOWN NAMES AND ADDRESSES AND HE WOULD GO BACK  AND WRITE STORIES FOR HIS COLUMNS.) PEOPLE DESCRIBED PYLE'S WRITING AS RECEIVING A LETTER BACK HOME  FROM THE FRONT LINES.  NEARLY TEN PERCENT OF THE COUNTRY'S  POPULATION WERE SERVING IN THE ARMED FORCES, SO EVERYONE KNEW  SOMEONE FIGHTING THE WAR AND PYLE'S COLUMNS SHARED THOSE  STORIES.  HE WENT ASHORE 24 HOURS AFTER D-DAY AND REPORTED ON  WHAT HE SAW. (BODIES OF SOLDIERS THAT WERE WASHED OUT TO SEA AND THEN  BROUGHT BACK AGAIN.  PICTURE OF GIRLS AND LADIES STARING UP AT HIM  FROM THE SAND.  THE WRECKAGE THAT HE SAW IS JUST EXACTLY WHAT  HE WROTE ABOUT.  AND IT SURE PUT A PERSONAL TOUCH ON THE TRAGEDY  HE COVERED THE WAR IN EUROPE AND THEN MOVED ON TO THE PACIFIC.  IN APRIL OF 1945 HIS STORIES OF THE COMMON SOLDIER FIGHTING THE  WAR WOULD COME TO AN END THOUGH.  (HE WAS WITH THE 77TH INFANTRY DIVISION ON AN ISLAND CALLED IEJIMA  OF THE COAST OF OKINAWA.  HE WAS RIDING WITH SOME OFFICERS AND  THEY CAME UNDER MACHINE GUN FIRE.  EVERYBODY MADE IT TO THE  DITCH SAFELY BUT HE RAISED HIS HEAD AND SAID "IS EVERYONE O.K."  AND HE WAS KILED  PYLE HAD REPORTED ON THE WAR FROM EVEN BEFORE THE U.S. ENTERED  THE CONFLICT.  HIS COLUMNS WERE THE LINK BETWEEN THE FRONT LINES  AND THE SOLDIER'S LIVES BACK HOME.  NOW THE BELOVED WRITER WAS  GONE.   (WHEN HE DIED PRESIDENT TRUMAN HIMSELF WENT ON THE RADIO TO  ANNOUNCE ERNIE'S DEATH TO THE NATION.  HE SAID, "THE NATION IS  ONCE AGAIN SADDENED," BECAUSE ROOSEVELT HAD DIED ABOUT A  WEEK EARLIER, AND HE SAID, ""NO MAN IN THIS WAR HAS TOLD THE  STORY SO WELL  AS THE GI'S WANTED IT TOLD." ERNIE PYLE GREW UP IN SMALL TOWN AMERICA YET HIS WORDS TOUCHED  THE LARGEST OF STAGES.  HIS ARTICLE OFTEN  ABOUT AVERAGE ORDINARY  PEOPLE, THER STRUGGLES THEIR CHALLENGES, THEIR SUCCESSES AND  EVEN DYING.    THEY ARE WORDS THAT STILL TOUCH OUR HEARTS TODAY.   TRAVELING THE COUNTRYSIDE…IN DANA, INDIANA, I'M ANDREW  MCCREA.

TEASE
THANKS, ANDREW. YOU CAN HEAR MORE OF ANDREW'S  TRAVELS BY VISITING AMERICAN COUNTRSYIDE DOT  COM. WHEN WE COME BACK, MACHINERY PETE TAKES US TO  ILLINOIS WHERE THE FARMER'S PROUDLY HAS HIS  AMEICAN FLAG ON DISPLAY. 

TRACTOR TALES
TRACTOR TALES BROUGHT TO YOU BY THE MOST  TRUSTED NAME IN FARM EQUIPMENT, MACHINERY  PETE!. WELCOME BACK TO TRACTOR TALES FOLKS!  THIS WEEK WE'RE BACK IN  ILLINOIS TO SEE MY GOOD FRIEND ROCK KATSCHNIG WHO HAS A JOHN  DEERE 3010 TO SHARE WITH US.  THIS CLASSIC DIESEL WORKED HARD  ON MANY ACRES IN NORTHERN ILLINOIS FARM FIELDS.  NOW ROCK HAS  PLANS TO SHOW IT OFF WITH HIS GRANDKIDS ABOARD. WELL HERE WE HERE WE HAVE A 3010 JOHN HERE DIESEL UTILITY AND  I'VE ONLY OWNED A TRACTOR A COUPLE OF YEARS. I WENT TO AN AUCTION  ACTUALLY IN PURSUIT OF A 43 20. THEY WERE BRINGING GOOD MONEY  THAT DAY AND THIS TRACTOR WENT THROUGH THE RING. NICE PAINT  RESTORATION ON IT NEW RUBBER. AND IT WAS UNDER THE MONEY. AND I  JUST THOUGHT THIS TRACTOR WOULD REALLY LOOK GOOD WITH MY  GRANDCHILDREN ON HERE SOME DAY AND A PARADE. AND I FEEL  UNCOMFORTABLE WITH WHEN I SEE KIDS ON LAPS AND ON FENDERS AND  PARADES. SO WE'RE GOING TO RIG UP SOME TYPE OF CONCOCTION HERE  WITH CAR SEATS. SO THEY'RE MOUNTED SAFELY ON HERE MAYBE OFF THE  3 POINT HITCH IN SUCH A MANNER THAT WE CAN GET ALL THE GRANDKIDS  ON THERE. AND THIS TRACTOR HERE JUST PRETTY MUCH GOING TO BE A  DEDICATED PARADE TRACTOR FOR THE GRANDKIDS AND MAYBE SOME  POINT IN TIME MAYBE THE KIDS CAN FOLLOW THE BEHIND MY AND  PARADES. NICE RESTORATION WAS DONE ON IT AND REALLY NICE SHAPE.  I'M SURE AT ONE POINT IN TIME IT PROBABLY HAD A LOADER ON IT AS  MANY OF THESE LOWER PROFILE UTILITY TRACTORS DID. GOSH THE COST OF  RESTORATIONS TODAY WHAT THIS TRACTOR FOR LESS THAN WHAT THE  RESTORATION ENTIRE SORT OF COST. THAT WAS THE MAIN REASON WE  WROTE HOME. THIS ONE WENT THROUGH THAT ROOM THE RING THAT DAY  AND IT CAME BACK TO THE SANDHILLS.  THANKS TO GREG AND ROCK. 

COUNTRY CHURCH SALUTE
THIS WEEKEND'S  COUNTRY CHURCH SALUTE GOES TO  THE NEW LONDON FIRST BAPTIST CHURCH IN NEW  LONDON MISSOURI. STARTED IN 1867, THE CONGREGATION IS EXCITED TO  APPROACH THEIR 150TH ANNIVERSARY THIS FALL, WITH  A CELEBRATION PLAN FOR SEPTEMBER 30TH AND  OCTOBER FIRST.  OUR THANKS TO JILL ALEXANDER FOR SHARING THEIR  STORY.  STAY WITH US - MIKE HOFFMAN JOINS ME FOR FROM THE FARM PHOTOS NEXT. 

FROM THE FARM
WELCOME BACK. IT'S REALLY BEEN A MIXED BAG OF  WEATHER AND CROP CONDITIOSN THIS YEAR.  MATT PERRY SAYS IT'S BEEN A CHALLENGE THIS YEAR  PLANTING WITH RAIN AND WET WEATHER HAVING TO  REPLAINT. BUT HAS FAITH IT WILL WORK OUT   HERE'S A BIRDS' EYE VIEW OF HTE CORP. HE SAYS  SOME FIELDS LOOK LIEK THIS-- YOU CAN SEE BALD  SPOTS AND AREAS THEY REPLANTED. SLUGS HAVE  BEEN A MAJOR PROBLEM IN HIS AREA. BUT SAYS OTHER  FIELS, LIKE THIS, ARE IN GOOD SHAPE. AND SOUTH DAKOTA PRODUCERS ARE BATTLING MORE  THAN JUST DROUGHT... THIS IS FROST DAMAGE ON  CHET'S CORN, ONLY 45 MILES NORTH OF MITCHELL,  SOUTH DAKOTA. AND CHECK OUT THIS FIELD OF WINTER WHEAT AT  SUNRISE IN THE FRANKLIN, KEWAUNEE, WISCONSIN  TAKEN ON BERNARD'S MORNING BIKE RIDE. HE SAYS  IT'S NOT QUITE AMEBER WAVES OF GRAIN... BUT  GETTING CLOSE.  

CLOSE
FROM 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 WEEKEN AND A SAFE AND ENJOYABLE INDEPENDENCE DAY HOLDIAY EVERYONE.  

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