USFR Weekly Recap - June 27, 2015, 2014, 2015, 2015

June 27, 2015 03:30 AM
 

TODAY ON USFR
JUNE 27-28, 2015

HEADLINES:
WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN, AND HERE'S WHAT WE'RE WORKING ON FOR YOU THIS WEEKEND. POSSIBLE FIREWORKS IN THE GRAINS EARLY ESTIMATES ARE ROLLING OUT FOR USDA'S ACREAGE REPORT...AND ONE FIRM'S INITIAL NUMBERS ARE SURPRISINGLY BIG. MAJOR MERGER... AS MONSANTO LOOKS TO BUY SYNGENTA, IT'S A P-R NIGHTMARE THAT'S GONE VERY PUBLIC.WE HEAR FROM BOTH COMPANIES TO SEE WHY THEY DO OR DON'T WANT THIS DEAL TO GO THROUGH, AND IN JOHN'S WORLD...
ACREAGE:
NOW FOR THE MARKET RELATED NEWS, SOME ANALYSTS SAY WE COULD SEE FIREWORKS WITH USDA'S JUNE ACREAGE REPORT, WHICH WILL BE RELEASED TUESDAY. BUT SOME FIRMS ARE TRYING TO GET AHEAD, RELEASING THEIR OWN RESULTS.
ROACH ACRES:
 ROACH AG MARKETING ALSO CONDUCTED A JUNE ACREAGE SURVEY SHOWING QUITE DIFFERENT RESULTS. IT'S EXPECTING USDA WILL REDUCE ITS CORN ESTIMATE BY A MILLION ACRES DOWN TO 88-POINT-ONE MILLION. MISSOURI IS THE TROUBLE SPOT, WITH AN EXPECTED 440-THOUSAND "PREVENT PLANT" ACRES..
SOYBEAN:
IT'S A PRICE SOYBEAN FARMERS HAVEN'T SEEN SINCE MARCH. THE JULY CONTRACT TOPPED 10 DOLLARS FOR THE FIRST TIME IN THREE MONTHS, RALLYING NEARLY A DOLLAR IN JUST ONE MONTH. WHILE SOME FARMERS ARE STILL STRUGGLING TO GET THEIR CROP PLANTED, WATER LOGGED AREAS ARE HELPING SUPPORT PRICES.
CME OPEN OUTCRY:
C-M-E SAYS ITS OPEN OUTCRY IN THE FUTURES PITS WILL STAY ALIVE FOUR DAYS LONGER THAN EXPECTED…THURSDAY, JULY 2ND WAS THE SCHEDULED LAST DAY, BUT DO TO SOME ISSUES WITH THE C-F-T-C FILING PROCESS, THAT'S BEEN PUSHED BACK TO MONDAY, JULY 6TH.
CATTLE ON FEED:
 USDA ROLLED OUT ITS LATEST CATTLE ON FEED NUMBERS THIS WEEK. IT SHOWS IMPROVED PASTURE CONDITIONS AND THE DESIRE TO REBUILD HERD NUMBERS ARE HELPING KEEP THOSE CATTLE OUT OF THE FEEDLOT. USDA SAYS FEEDLOT PLACEMENTS SAW A SIGINFICANT DROP--DOWN 10 PERCENT. MAY MARKETINGS DROPPED 8 PERCENT, HITTING THE LOWEST SINCE THE AGENCY STARTED COLLECTING THE DATA IN 1996.
BEEF OUTLOOK:
MEANWHILE, RABOBANK SAYS AUSTRALIAN BEEF EXPORTS TO THE U-S ARE ON TRACK TO BE THE MOST IMPRESSIVE IN 25 YEARS. WE IMPORTED MORE THAN 185 THOUSAND TONNES IN MAY AND ON TRACK TO REACH ITS QUOTA LEVEL BY NOVEMBER.THE BANK SAYS THE IMPRESSIVE U-S DOLLAR IS HELPING U-S BEEF IMPORTS, INCLUDING FROM CANADA, MEXICO, AUSTRALIA AND NEW ZEALAND.
PITCH TO MIKE:
THOSE ARE THE HEADLINES...METEOROLOGIST MIKE HOFFMAN JOINS US NOW WITH WEATHER. MIKE, FARMERS ARE RUNNING OUT OF TIME TO GET THOSE BEANS PLANTED.
TEASE ONE:
THANKS MIKE. WHEN WE COME BACK, DON ROOSE AND DOUG WERLING ARE HERE AND IT'S ALL ABOUT THE MARKETS. SO STAY TUNED.
JOHN’S WORLD PITCH:
EACH MONTH ON THE SHOW, WE FEATURE A FARM FAMILY AND THEIR LEGACY PLAN. BUT JUST BECAUSE EACH PLAN DIFFERS FROM ANOTHER, IT DOESN'T MEAN ONE IS RIGHT OR WRONG. JOHN PHIPPS PUTS IT ALL INTO PERSEPCTIVE FROM THE FARM. JOHN.
TAG & CLOSE:
THANKS, JOHN. A MAJOR AG MERGER HAS A LOT OF FARMERS ON EDGE. SO WE'RE GIVING BOTH SIDES THE OPPORTUNITY TO GIVE THEIR SIDE OF THE STORY. IT'S A BREAKDOWN OF THE POSSIBLE MONSANTO -SYGENTA MERGER UP NEXT.
HEADLINES:
WELCOME BACK. WE HAVE MUCH MORE AHEAD THIS WEEKEND...IN FARM JOURNAL REPORT, WITH A MEGA MERGER ON THE LINE, FARMERS ARE UNEASY ABOUT HOW IT MAY CHANGE THE LANDSCAPE OF AG. AND WHILE ONE SIDE IS IN FAVOR OF THE BUY OUT, THE OTHER SAYS IT'S FAR FROM OVER. IN CUSTOMER SUPPORT, JOHN PHIPPS ANSWERS A QUESTION ABOUT THE LINK BETWEEN GMO'S AND BEES, AND BAXTER BLACK, A TEST TO SURVIVING AGRICULTURE. SO GET YOUR PEN AND PAPER READY.
MARKETING ORDERS:
NOW FOR THE HEADLINES, AN INTERESTING RULING FROM THE SUPREME COURT SIDES WITH RAISIN FARMERS, SAYING THE GOVERNMENT WAS UNFAIRLY TAKING THEIR CROP. AND IT'S ONE THAT COULD IMPACT OTHER FEDERAL MARKETING ORDERS, AS WELL.
 TPA:
 FAST TRACK TRADE CLEARED ITS FINAL HURDLE THIS WEEK. THE SENATE PASSED TRADE PROMOTION AUTHORITY WITH A 60 TO 38 VOTE, CLEARING THE WAY FOR LARGER TRADE DEALS LIKE THE TRANS PACIFIC PARTNERSHIP. THAT'S THE PACT INVOLVING 11 COUNTRIES ALONG THE PACIFIC RIM, INCLUDING JAPAN.
RFS HEARING:
ETHANOL SUPPORTERS GOT THEIR CHANCE TO VOICE THEIR CONCERNS OVER EPA'S PROPOSED RENEWABLE FUELS STANDARD VOLUME REQUIREMENTS.EPA HELD A FIELD HEARING IN KANSAS CITY THIS WEEK, DRAWING QUITE THE CROWD. LEADERS FROM THE ETHANOL INDUSTRY VOICED THEIR CONCERNS OVER EPA'S LOWER VOLUME LEVELS FOR 2014, 2015 AND 2016, SAYING EPA IS IGNROING STANDARDS SET BY CONGRESS AND SHOULD ABANDON THE BLEND WALL. BUT CHRIS GRUNDLER OF E-P-A TOLD US THE PROPOSED STANDARDS ARE BASED ON WHAT THE AGENCY THINKS IS ACHIEVABLE OVER THE NEXT 18 MONTHS.
CHICKEN NUMBERS:
ETHANOL SUPPORTERS GOT THEIR CHANCE TO VOICE THEIR CONCERNS OVER EPA'S PROPOSED RENEWABLE FUELS STANDARD VOLUME REQUIREMENTS. EPA HELD A FIELD HEARING IN KANSAS CITY THIS WEEK, DRAWING QUITE THE CROWD. LEADERS FROM THE ETHANOL INDUSTRY VOICED THEIR CONCERNS OVER EPA'S LOWER VOLUME LEVELS FOR 2014, 2015 AND 2016, SAYING EPA IS IGNROING STANDARDS SET BY CONGRESS AND SHOULD ABANDON THE BLEND WALL. BUT CHRIS GRUNDLER OF E-P-A TOLD US THE PROPOSED STANDARDS ARE BASED ON WHAT THE AGENCY THINKS IS ACHIEVABLE OVER THE NEXT 18 MONTHS.
TART CHERRIES:
A LATE FREEZE IN MICHIGAN DIDN'T SPARE CHERRY GROWERS. THE NATIONAL AG STATISTICS SERVICE SAYS U-S TART CHERRY PRODUCTION IS EXPECTED TO DROP 23 PERCENT THIS YEAR. MOST OF THAT COMING FROM MICHIGAN, BUT WISCONSIN GROWERS HAVEN'T HAD IT EASY, EITHER. A HARSH WINTER IS HURTING TREES THERE.
WEATHER PITCH:
THAT'S IT FOR NEWS...METEOROLOGIST MIKE HOFFMAN JOINS US NOW WITH A LOOK AT OUR LONGER-RANGE FORECAST. MIKE, WHAT DOES EL NINO HAVE IN STORE FOR US?
FARM JOURNAL REPORT:
 MONSANTO COMPANY POSTED IMPRESSIVE EARNINGS RESULTS THIS WEEK, SHOWING PROFITS ROSE 30% IN THE THIRD QUARTER. DESPITE CHALLENGES AHEAD, INCLUDING POSSIBLE FLAT EARNINGS IN Q-4, C-E-O HUGH GRANT SAYS THE COMPANY IS STILL TRYING TO BUY SYNGENTA, CALLING IT A LOGICAL NEXT STEP. THE NEWS SENT MONSANTO'S STOCK PLUNGING 6 PERCENT WEDNESDAY. BUT WITH SO MANY STORIES AND POSSIBLE OUTCOMES FLOATING AROUND OVER A BUY-OUT, BOTH COMPANIES ARE TRYING TO TELL THEIR SIDE OF THE STORY. ONE SIDE IS CONFIDENT THE DEAL WILL HAPPEN, WHILE THE OTHER IS NOT GOING DOWN WITHOUT A FIGHT.
CUSTOMER SUPPORT:
THERE ARE STILL MANY QUESTIONS SURROUNDING BEE HEALTH AND WHAT'S CAUSING THE BEE MORTALITY RATE TO BE SO HIGH. AND MANY OUTSIDE OF AGRICULTURE ARE POINTING TO FARMERS. JOHN PHIPPS AS MORE IN CUSTOMER SUPPORT. JOHN.
BAXTER:
THERE'S NO DOUBT IT'S A TOUGH TIME IN AGRICULTURE. AND WHILE THERE MAY NOT BE A SURVIVAL KIT, BAXTER BLACK HAS SOME ADVICE TO HELP GET YOU THROUGH. BAXTER.
TRACTOR TALES:
THANK YOU TYNE. THIS WEEK WE'RE OFF TO SOUTHEASTERN MINNESOTA FOR A 1949 FARMALL M. IT WAS A FAMILY TRACTOR THAT WAS MODIFIED TO FIT THE NEEDS OF THEIR PROPERTY AND JEREMY TELLS US HOW JUST IMPORTANT THIS WORKHORSE WAS TO THEM.
CHURCH SALUTE:
 TODAY'S COUNTRY CHURCH SALUTE GOES TO THE CHRIST EVANGELICAL LUTHERAN CHURCH IN EAGLE RIVER WISCONSIN. THE CONGREGATION IS CELEBRATING 125 YEARS. SO MUCH HAS CHANGED IN THAT TIME. IN THE BEGINNING, SERVICES WERE HELD IN GERMAN, BUT IN 1912, IT TRANSITIONED TO ENGLISH. THE FIRST CHURCH DATES BACK TO 1920. THEN A NEW CHURCH WAS BUILT IN 1927. AFTER GROWTH AND OTHER NEEDS FOR MORE SPACE, THE CONGREGATION ADDED ON TO THE CHURCH, WITH A LARGER STRUCTURE STANDING TODAY. OUR THANKS TO CONNIE OLSON FOR SHARING THEIR STORY…
CONTACT:
IF YOU HAVE ANY PICTURES OR VIDEOS, SEND THOSE TO U-S-FARM-REPORT-DOT-COM. OR IF YOU'RE ON SOCIAL MEDIA, CHECK US OUT ON FACEBOOK AND TWITTER.
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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