USFR Weekly Recap - May 14-15, 2016

May 14, 2016 03:30 AM
 

TODAY ON U.S. FARM REPORT
MAY 14-15, 2016
OPENING HEADLINES:

<FROM THE STUDIOS OF FARM JOURNAL BROADCAST,  THIS IS U.S. FARM REPORT.> WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN, AND HERE'S WHAT WE'RE WORKING ON FOR YOU OVER THE NEXT 60 MINUTES.  USDA DROPPED A BOMB IN THE SOYBEAN MARKET THIS WEEK, SHOOTING PRICES HIGHER.    <I'D BE A LITTLE BIT SURPRISED I GUESS IF WE CAN GET TO THE $11 MARK I NEW CROP BEANS>  WE'LL SHOW  YOU WHY THE REPORT WAS SO FAVORABLE FOR PRICES AND TELL YOU WHERE WE GO   FROM HERE.   THE HARDER YOU WORK, THE FASTER YOU GROW....   <"WHEN YOU'RE GIVEN SOMETHING, YOU JUST DON'T APPRECIATE IT AS MUCH AS IF YOU HAVE TO PAY FOR IT."
OUR FARM JOURNAL REPORT INTRODUCES YOU TO A DAIRY PRODUCER WHO'S BEEN TURNING OBSTACLES INTO OPPORTUNITY HIS ENTIRE LIFE.  MORE DELAYS IN THE EASTERN CORN BELT, AS MOTHER NATURE REFUSES TO COOPERATE...  I'LL LET YOU KNOW IF WE SEE ANY CHANGE IN THIS WET, CHILLY WEATHER PATTERN COMING UP IN WEATHER>  AND IN JOHN'S WORLD...  <I'VE GOT GOOD NEWS AND BAD NEWS ABOUT PEOPLE AND FOOD>  USDA’S MAY REPORT:
NOW FOR THE NEWS THAT MOVED THE MARKETS THIS  WEEK, USDA'S MAY REPORT SHOCKED THE TRADE,  SHOOTING SOYBEAN PRICES TO NEAR A 21 MONTH  HIGH, CARRYING CORN AND WHEAT ALONG WITH IT.  THE BIG SURPRISE CAME ON TEH SOYBEAN SIDE OF THE LEDGER, WITH USDA PROJECTING SOYBEAN INVENTORIES TO FALL AN ASTONISHING 24 PERCENT. THAT SENT SOYBEAN PRICES TO END THE DAY TUESDAY UP 5 POINT 6 PERCENT AT 10 -84 A BUSHEL. THAT'S A 25 PERCENT INCREASE JUST THIS YEAR.

MARKET MOVER:
TAKING A LOOK AT THE MARKET MOVER, USDA GIVING US OUR FIRST GLIMPSE AT ENDING STOCKS  PROJECTIONS FOR THIS YEAR'S CROP. USDA PEGS SOY STOCKS AT 305 MILLION BUSHELS.    AND FOR CORN, USDA PROJECTING STOCKS AT 2 POINT  1 BILLION BUSHELS, ALSO UNDER EXPECTATIONS. SO WHERE DO WE GO FROM HERE? PROFARMER'S  BRIAN GRETE GIVES HIS THOUGHTS.   <I'D BE A LITTLE BIT SURPRISED I GUESS IF WE CAN GET TO THE $11 MARK I NEW CROP BEANS. AND SUTAIN RADE AT THAT LEVEL. I THINK THAT THERE'S PROBABLY GOING TO BE ENOUGH SELLING COME INTO THE  MARKETPLACE AT THAT TIME THAT IT'S GOIGN TO BE REALLY HARD AND  NEED SOME ADDITIONAL SUPPORT>  ROUSSEFF CLOSE TO IMPEACHMENT:
BRAZIL'S PRESIDENT DILMA ROUSSEFF IS NEARING  IMPEACHMENT.  THE SENATE VOTED TO IMPEACH AND SUSPEND HER AFTER AN ALL-NIGHT SESSION LASTING 20 HOURS THIS  WEEK. ROUSSEFF IS ACCUSED OF ILLEGALLY MANIPULATING  FINANCES TO HIDE A GROWIGN PUBLCI DEFICIT BEFORE HER RE-ELECTION IN 2014. BUT THE OUSTED PRESIDENT WAS DEFIANT AFTER THIS  WEEK'S VOTE SAYING THIS ISN'T AN IMPEACHMENT, BUT  A TRUE COUP. SHE STILL FACES TRIAL, WHICH COULD LAST 6 MONTHS.  

IOWA SENATOR SEEKS TO BAN PACKER OWNERSHIP OF LIVESTOCK:
SENATOR CHUCK GRASSLEY SAYS CONSOLIDATION IN  THE LIVESTOCK INDUSTRY IS FORCING HIM TO TAKE ACTION. THE IOWA SENATOR INTRODUCING LEGISLATION THIS  WEEK TO BAN PACKER OWNERSHIP OF LIVESTOCK. HE SAYS INDEPENDENT PRODUCERS DON'T HAVE MANY  CHOICES ON WHERE TO BUY OR SELL THEIR CATTLE,  CITING PACKING PLANTS IN WEST TEXAS AND DENISON,   IOWA CLOSING. 
JBS, WORLD’S LARGEST MEAT PACKER TAKES FIRST QUARTER HIT:
THE WORLD'S LARGEST MEAT PACKER IS SHOWING A  STEEP CUT IN FIRST QUARER EARNINGS FROM FALLING NORTH AMERICAN REVENUE. AND NOW THE COMPANY SAYS IT'S SPINNING OFF ITS  INERNATIONAL BUSINESS INTO A NEW COMANY BASED  IN IRELAND CALLED JBS FOODS INTERNATIONAL.  IT'S ALSO EXPLORING MAKING IT A PUBLICLY TRADED  COMPANY, LISTING IT ON THE NEW YORK STOCK  EXCHANGE.  CONGRESS ASKED TO INVESTIGATE BEEF PRICES:
THE U-S CATTLEMAN'S ASSOCIATION FOLLOWING R-CALF USA'S LEAD, ALSO ASKING CONGRESS TO   INVESTIGATE BEEF PRICES. THE ASSOCIATION SAYS A COMBINATION OF  ALGORITHMIC TRADING AND ANTI COMPETIVIE BUYING  PRACTICES AMONG OTHER INDUSTRY CONCERNS ARE MANIPULATING PRICES.  JUST LAST MONTH, THE SENATE JUDICIARY COMMITTEE  ASKED THE GOVERNMENT ACCOUNTABILITY OFFICE TO  OPEN A FORMAL INVESTIGATION ON THE MATTER.   U.S. HAS A LOT OF CHEESE:
MORE AMERICANS ARE BUYING CHEESE AT THE STORE, BUT IT'S NOT HELPING EAT THROUGH THE LARGE INVENTORIES IN THE COUNTRY. PACKAGED FACTS SHOWS RETAILS CHEES SALES  GROWING TO 17 BILLION DOLLARS LAST YEAR. BUT DAIRY HERD MANAGEMENT EDITOR JIM DICKRELL  SAYS AN EXCESS AMOUNT OF CHEESE IS CAUSING A  MAJOR INVENTORY BACKLOG.  DICKRELL SAYS INVENTORIES ARE REACHING LEVELS WE HAVEN'T SEEN SINCE THE 1980S WHEN THE   GOVERNMENT STOCKPILED INVENTORY TO HELP WITH THE SURPLUS. 

TRADE IS PARTLY TO BLAME FOR SURPLUS:
<MILK PRODUCTION IS UP TREMENDOUSLY HERE. AND ALSO IN EUROPE.  AND WE'VE ALSO GOT THE CHINESE BUYING LES DAIRY PRODCUTS AND WE  HAVE A TRADE EMBARGO GOING ON IN THE SOVIET UNION. SO ALL OF THAT  MEANS THAT'S INVENTORY IS  BAKCING UP HERE IN THE UNITED STATES.  AND ALSO IN EURIOPSE, THEY'RE ALSO SEEING INVENTORY BACK UP AS  WELL. > 

NATIONAL WEATHER:
MORE PLANTING DELAYS IN THE EASTERN CORN BELT THIS WEEK. MIKE, HOW'S NEXT WEEK SHAPING UP?  NO, TYNE THEY REALLY DO AND THEY'VE BEEN  COMING ALONG WITH SOME RAIN AS WELL AS MOST OF FOLK SNOW. YOU CAN SEE AS WE START THE JET STREAM EARLY THIS WEEK WE'RE GOING TO SEE THE TROPH OFF HTE NORTHEAST COAST, STILL A STROPH BACK THORUGH GREAT LAKES BVERY COLD AIR FOR THIS TIME OF YEAR. AS WE PUT THINGS INTO MOTION YOU CAN SEE THAT LINGERS, SO IT STAYS CHLLLY FOR GREAT LAKES NORTHEAST AS WE HEAD THROUGH MIDDLE OF WEEK SOME WARMER WEATHER IN TEH SOUTHEAST ANOTHER TROPH MOVING THROUGH MIDDLE OF COUNTRYWILL PRODUCE SOME MORE RAIN IN SOME OF THOSE AREAS AS WE HEAD THROUGH END OF WEEK THEN YOU CAN SEE WE   START TO GET A LITTLE RIDGE BY FRIDAY INTO PLAINS STATES.
TEASE:
THANKS, MIKE. WE HAVE MUCH MORE TO TALK ABOUT  WITH THE MARKETS THIS WEEK, INCLUDING HOW LIKELY  IT IS THAT SOYBEANS CAN BREAK 11 DOLLARS. WE'LL DO THAT WITH MARK GOLD AND BOB UTTERBACK NEXT.  

ROUNDTABLE 1:
 WELCOME BACK TO U.S. FARM REPORT.  WELL, DEFINITELY A BUSY WEEK IN THE MARKETS THIS WEEK. LET'S START OFF BY TALKING ABOUT THIS USDA REPORT. HAD SOME HUGE CHANGES TO ENDING STOCKS WITH SOYBEANS, BOB. DID WE GET THAT ON THE SUPPLY SIDE OR IS THAT MORE OF A DEMAND FACTOR?
USDA REPORT:
IT WAS MORE THE DEMAND, AND IT WAS    SOME PEOPLE WERE TALKING ABOUT BACK IN MARCH, I WAS ONE OF THE GUYS THAT DIDN'T REALLY BUY INTO IT, BUT IT WAS THE DEMAND OF CHINA'S INCREASE USAGED AND ARGENTINE'S REDUCED CROP DOVETAIL WITH THE WEAK DOLLAR. THE USDA PUSHED IT UP HERE TO 1.8 PLUS, AND I WOULD SAY OFF THE RECORD THERE ARE PEOPLE NOW TRYING TO TALK 2 BILLION BUSHEL EXPORTS. BUT HERE AGAIN THE BURDEN OF PROOF FROM HERE ON NOW IS THE BULL'S GOT THE DEMAND ARGUMENT.
ROUNDTABLE 2:
ALL RIGHT, BEFORE WE TALK ABOUT THE INTERNATIONAL IMPACT ON THESE MARKETS, BOB, WHEAT, WE'VE HAD SOME QUESTIONS ABOUT WHEAT. WE DID SEE A PRICE INCREASE AFTER THE REPORT. WAS IT JUST SOYBEANS PULLING THAT CROP UP TOO? BECAUSE IT DOESN'T SEEM LIKE THERE'S A REAL REASON FOR THIS RALLY.
CHINA:
 THE BIGGEST REASON WHEN YOU GOT INTO NUMBERS IS THAT CHINA'S GOT 21% OF THE WORLD’S RESERVE STOCKS, AND WHILE WORLD WHEAT STOCKS ARE UP, THE AMOUNT OF WORLD FREE STOCKS ARE DOWN, AND I THINK THAT WAS A SHORT TERM SURPRISE TO THE MARKETPLACE.
AND TECHNICALLY YOU GOT A TRIPLE BOTTOM ON THE CHARTS, SO I THINK YOU GOT SOME TECHNICAL TRADERS TRYING TO BOTTOM PICK, BUT IF THE WHEAT CAN'T GO    CANNOT BREAK OUT TO THE DOWNSIDE ON SEASONAL PRESSURE INTO FALL, THAT'S GOING TO GO A LONG WAY TO PUT SOME PRESSURE ON FROM THE CORN AND BEANS, BUT I THINK WHEAT SHOULD FUNDAMENTALLY BREAK OUT TO THE DOWNSIDE.
BRAZIL:
 MARK, BIG NEWS THIS WEEK WITH DILMA ROUSSEFF, SENATE VOTING TO IMPEACH AND SUSPEND HER.MEANWHILE WE'RE SEEING A BIG RECESSION DOWN IN BRAZIL.WHAT TYPE OF IMPACT DOES THAT HAVE ON US, ESPECIALLY CONSIDERING THE REAL?>> WELL, I THINK THE DOLLAR'S GOING TO STAY RELATIVELY STRONG.WE BOTTOMED OUT RIGHT WHEN WE SHOULD HAVE AT THE END OF THE MONTH, THE LAST FRIDAY OF THE MONTH.
U.S. DOLLAR:
WE HAD A 3 CENT BOUNCE SINCE THEN. I THINK THE DOLLAR'S GOING TO STAY RELATIVELY STRONG.I THINK THE BIGGER IMPACT ON SOUTH AMERICA ISN'T SO MUCH THE INTERNAL POLITICAL SITUATION IN BRAZIL.THEY'VE GOT A MESS DOWN THERE BETWEEN THAT AND THE OLYMPICS AND EVERYTHING ELSE THAT'S GOING ON.
MARKETS NOW:
 ALL RIGHT. TIME NOW FOR THE CLOSING THOUGHTS. BOB UTTERBACK LAST START WITH YOU.  FORM, HOW YOU'RE SHORT. YOU KNOW, AS A PRODUCER WE PRODUCE TO PROFIT, IT'S OUR RESPONSIBILITY TO GET RID OF IT. WE'RE COMING INTO THE BULL'S HOME TERRITORY WHEN HE COULD RALLY THE MARKET IF HE GETS WEATHER AND THE DOLLAR.SO IF YOUR MARKET'S REACHED YOUR TARGET PRICES YOU'VE GOT TO HAVE A FLOOR AND HAVE THE ABILITY TO REACT TO THE HIGHER PRICES. BEAN SHORT FUTURES OR SHORT CALLS RIGHT NOW IS EXTREMELY DANGEROUS.
TEASE:
PLEASE STAY WITH US. WE'LL BE BACK WITH MORE U.S. FARM REPORT IN JUST A MOMENT.
JOHN’S WORLD:
JOHN JOINS US FROM THE FARM TO TALK ABOUT AN INTERESTING DEVELOPMENT WHEN IT COMES TO   CHEAP FOOD. JOHN. LAST MONTH THE BRITISH MEDICAL JOURNAL LANCET  ANNOUNCED A RATHER CONFUSING MILESTONE FOR  THE HUMAN RACE: WE NOW HAVE MORE PEOPLE IN THE WORLD WHO ARE OBESE THAN UNDERWEIGHT. I HAVE BEEN FOLLOWING THE REMARKABLE PROGRESS WE HAVE BEEN MAKING TO REDUCE THE NUMBER OF PEOPLE LIVING IN EXTREME POVERTY - AND IT IS TRULY   GOOD NEWS - BUT THIS COMPARISON FRANKLY TOOK  ME BACK. 

TEASE:
VERY TRUE JOHN, THANKS. WHEN WE COME BACK, FALLING MILK PRICES AREN'T SCARING ONE DAIRY FARMER AWAY FROM PUSHING THE ENVELOPE TO NOT ONLY SURVIVE, BUT THRIVE.  THAT'S OUR FARM JOURNAL REPORT NEXT.
SECOND HALF OPENING HEADLINES:
 WE HAVE MUCH MORE AHEAD THIS WEEKEND ON U-S  FARM REPORT OVER THE NEXT 30 MINUTES. WE'RE OFF TO NEW MEXICO TO SEE HOW ONE DAIRYFARMER IS TURNING OBSTACLES INTO OPPORTUNITY. HE'S FARM JOURNAL'S MILK MAY COVER STORY AND  ALSO OUR FARM JOURNAL REPORT. IN CUSTOMER SUPPORT, JOHN TALKS WOTOUS AGAIN AND WE'RE HEADING OUT WEST WITH BAXTER BLACK.
TEXAS EXPLOSION THAT KILLED 15 UNDER INVESTIGATION AS CRIMINAL ACT:
 NOW FOR THE HEADLINES, A MASSIVE FIRE AT AN AG FERTLIZER PLANT IN TEXAS WASN'T AN ACCIDENT.  OFFICIALS ANNOUNCING JUST THIS WEEK DETERMINING  THE FATAL EXPLOSION WAS A CRIMINAL ACT AND INTENTIONALLY SET. THE BLAST DEVASTATED THE SMALL TEXAS TOWN OF WEST IN APRIL 2013. FIFTEEEN PEOPLE DIED, 12 OF THEM WERE FIREFIGHTERS. ON WEDNESDAY, THE BUREAU OF ALCOHOL, TOBACCO  AND FIREARMS ANNOUNCED THE FIRE, WHICH LED TO THE EXPLOSION, WAS SET ON-PURPOSE. AGENTS SAY ALL ACCIDENTAL AND NATURAL FIRE   SCENARIOS WERE TESTED AND RULED OUT.   STRUGGLING FARM ECONOMY DROPS CASH RENTS:
A SOFTENING FARM ECONOMY CONTINUE TO IMPACT  LAND VALUES AND CASH RENTS.   IN THE KANSAS CITY DISTRICT - CASH RENTS DROPPED  TEN PERCENT FROM A YEAR EARLIER. THE FED OFFICE  SAYS THE SHARP DROP IS THE LARGEST ANNUAL  DECLINE IN RANCHLAND CASH RENTS SINCE THE FALL OF 2009. THE LOSS CORRESPONDS WITH A 30-PERCENT  DROP IN FEEDER CATTLE PRICES.  AND TO THE EAST, THE CHICAGO FED SAYS FARMLAND  VALUES SAW THE BIGGEST YEAR OVER YEAR DROP SINCE 2009. 
KUBOTA BUYS GREAT PLAINS MANUFACTURING:
KUBOTA ANNOUNCED THIS WEEK IT'S PURCHASING GREAT PLAINS MANUFACTURING. GREAT PLAINS IS BASED IN SALINA, KANSAS, WITH MULTIPLE FACILITIES SCATTERED ACROSS THE SATIATE. KUBOTA SAYS THE INITIAL PLAN IS TO NOT MAKE ANY OPERATIONAL CHANGES TO THE FIVE GREAT PLAINS  DIVISIONS, AND INFRASTRUCTURE TO REMAIN INTACT.  MONSANTO SYNGENTA MERGER:
MONSANTO SYNGENTA MERGER A POSSIBILITY MONSANTO POSSIBLY BUYING SYNGENTA MADE  HEADLINES LAST YEAR. BUT NOW I'S MONSANTO THAT  SEEMS TO BE HIGHLY SOUGHT AFTER.  SHARES OF MONSANTO JUMPED 12 PERCENT ON THURSDAY DUE TO RUMORS OF A POSSIBLE BUYOUT BY  
EITHER BAYER OF BASF. 
MONSANTO:
MONSANTO HAS BEEN IN TALKS WITH ARGENTINA'S GOVERMENT OVER A ROYALTY-COLLECFTION PLAN. MONSANTO SAYS THAT PLAN IS NECESSARY TO RECOUP INVESTMENT ON ITS BIOTECH SOYBEANS   ENGINEERED TO BE RESISTANT TO DESTRUCTIVE  WORMS. MONSANTO STARTED MARKETING THE PRODUCT TWO YEARS AGO.
NATIONAL WEATHER:
 THAT'S IT FOR NEWS...METEOROLOGIST MIKE  HOFFMAN JOINS US FOR THE LONGER-RANGE   FORECAST. MIKE, YOU KEEP TALKING ABOUT THIS WARMER WEATHER, BUT THESE SHOTS OF COLD AIR   KEEP COMING BACK.  NO, TYNE THEY REALLY DO AND THEY'VE BEEN COMING ALONG WITH SOME RAIN AS WELL AS MOST OF FOLK SNOW. YOU CAN SEE AS WE START  THE JET STREAM EARLY THIS WEEK WE'RE GOING TO SEE THE TROPH OFF  HTE NORTHEAST COAST, STILL A STROPH BACK THORUGH GREAT LAKES BVERY  COLD AIR FOR THIS TIME OF YEAR. AS WE PUT THINGS INTO MOTION. 

MILK MAGAZINE PROFILE:
THANKS, TYNE. LAST MONTH WE STARTED PARTNERING WITH OUR  FRIENDS OVER AT FARM JOURNAL'S MILK MAGAZINE TO PROFILE SOME OF THE MOST PROGRESSIVE DAIRY  FARMERS IN THE COUNTRY.  TODAY, WE'RE OFF TO CLOVIS, NEW MEXICO TO MEET A  DAIRYMAN WHO ISN'T AFRAID OF CHANGE.   ART SCHAAP <SKOP> IS THIS MONTH'S FARMJOURNAL'S  MILK COVER STORY, SHOWING HOW HE'S BREAKING THE MOLD IN THE DAIRY INDUSTRY TO SURVIVE SUCH  CHALLENGING TIMES.  
TEASE:
UP NEXT, JOHN PHIPPS. 

CUSTOMER SUPPORT:

APPARENTLY, SOME OF YOU AREN'T FINISHED WITH THE BATTLE OVER WOTUS. SO, JOHN IS BACK WITH MORE TH WEEK. JOHN LAST WEEK WE WENT OVER THE BASICS THE CLEAN WATER RULING, COMMONLY KNOWN AS THE WOTUS RULE. THIS WEEK WE LOOK AT THE CONTROVERSY  SURROUNDING IT. AGRICULTURE IS NEARLY UNANIMOUS IN OPPOSING THE  RULE, LARGELY ON THE BASIS OF PERCEIVED AND ACTUAL RESTRICTIONS ON WHAT YOU CAN DO ON YOUR  FARM AND POTENTIAL BUREAUCRATIC HASSLE.

TEASE:

THANKS, JOHN. SEND YOUR QUESTIONS OR COMMENTS TO JOHN VIA EMAIL OR FACEBOOK AND TWITTER. UP NEXT, WE GET A VISIT FROM BAXER BLACK. PLEASE,  STAY WITH US.   BAXTER BLACK:
 
IT'S TIME NOW TO HEAD OUT WES WITH BAXTER BLACK WHERE HE'S GRABBING LIFE AND THE BULL BY THE HORNS.. GAIL AND HIS PARTNER DAVE LOADED THEIR PRIZED BULL IN GAILAN'S STOCK TRAILER BEING PULLED BY  DAVE'S BIG DIESEL.  THEY HAD TO REWIRE THE TRAILER  SO THE LIGHTS WOULD WORK OF COURSE.  MORT  ALONG CAME BEHIND HIM IN HIS OLD THREE-QUARTER  TON PICKUP WITH NO PLATES AND PILED WITH JUNK.  THEY WERE HEADED FOR THE FORT WORTH STOCK  SHOW.
TEASE:
THANKS, BAXTER. YOU CAN WATCH MORE OF HIS HUMOR ONLINE AT BAXTER BLACK DOT COM.  WHEN WE COME BACK, WE'RE OFF TO MINNESOTA FOR  TRACTOR TALES.   TRACTOR TALES:
 IME NOW FOR TRACTOR TALES WITH MACHINERY PETE, THE MOST  TRUSTED NAME IN FARM EQUIPMENT."  WELCOME BACK. WE'RE EXCITED TO HAVE MACHINERY  PETE JOIN US EACH WEEK, FEATURING SOME OF THE MOST UNIQUE TRACTORS AROUND THE COUNTRY, AND THE STORIES BEHIND IT. THIS WEEK, HE SHOWS US A  CLASSIC FROM HIS HOME STATE. THANKS, TYNE.  THIS WEEK ON TRACTOR TALES WE'RE HEADING TO SOUTHEASTERN MINESOTA FOR A CLASSIC  49 ALLISH CHALMERS BTHIS ONE HERE ACTUALLY MY GREAT GRANDPA  BOUGHT THIS TRACTOR NEW. 
TEASE:
WHEN WE COME BACK, WE'LL CHECK OUT PLANTING  CONDITIONS WITH MIKE HOFFMAN. SO,DON'T GO ANYWHERE. 
CROP PROGRESS:
NOT MUCH PLANTING TO TALK ABOUT AGAIN THIS WEEK.  HEAVY RAIN IN CENTRAL CLINTON COUNTY, IOWA. CHRIS  BOWMAN SAYS A NARROW BAND OF RAIN REALLY  DUMPED SOME MOISTURE ON THEM. JUST LOOK AT THAT SOIL WASHING OUT. HE SAID THE SYSTEM  DROPPED AS LITTLE AS ONE TENTH OF AN INCH ON  SOME OF HIS FIELDS, TO NEARLY 2 AND A HALF INCHES  ON OTHERS.   

CLOSING:
  FOR JOHN, AL AND MIKE, I'M TYNE MORGAN. THANK  YOU FOR WATCHING U-S FARM REPORT.  BE SURE TO JOIN US RIGHT HERE AGAIN NEXT WEEK, AS WE WORK TO BUILD ON OUR TRADITION. HAVE A GREAT WEEKEND, EVERYONE.

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