USFR Weekly Recap - May 16, 2015, 2014, 2015, 2015

May 16, 2015 03:30 AM
 

TODAY ON USFR
MAY 16-17, 2015

HEADLINES:
WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN, AND HERE'S WHAT WE'RE WORKING ON FOR YOU. IS THE GOVERNMENT DOING TOO MUCH?  OUR FARM JOURNAL REPORT SHOWS US WHY CONGRESS IS TRYING TO PUT A STOP TO SO CALLED REGULATORY OVERREACH.
A FLASH BACK TO THE 50S... AMERICAN COUNTRYSIDE TAKES US TO A SODA FOUNTAIN GETTING NEW LIFE...HE DID NICKEL ICE CREAM AND DIME COKES. HE DECIDED IT WAS SUCH A HIT , AND PEOPLE LIKED IT - HE ENJOYED HAVING ALL THE PEOPLE COME BACK.  THIS HOPPING PLACE IS DRAWING A NEW CROWD, MANY OF WHOM NEVER EXPERIENCED THE DAYS WHERE THE SODA SHOP WAS THE PLACE TO BE AND IN JOHN'S WORLD...
ST LOUIS CREDIT RESULTS:
THE ST. LOUIS BRANCH OF THE FDERAL RESERVE ALSO RELEASED THEIR SURVEY RESULTS.
THEY HAD SIMILAR FINDINGS WITH BANKERS BEARISH ON THE NEXT QUARTER, AS WELL.
BANKERS ALSO POINTED OUT FARM FAMILIES JUST AREN'T BUYING MUCH RIGHT NOW. THEY SAY HOUSEHOLD AND CAPITAL SPENDING IS DOWN.
TPA:
TRADE PROMOTION AUTHORITY FACED GRIDLOCK IN WASHINGTON THIS WEEK, AS THE LEGISLATION FAILED ITS FIRST TEST IN THE SENATE. BUT AFTER NEGOTIATIONS, LEADERS FINALLY REACHED A DEAL TO BRING THE SO-CALLED 'FAST TRACK" TRADE LEGISLATION UP FOR DEBATE ON THE FLOOR. OPPONENTS THINK IF THEY DON'T STOP THE PRESIDENT ON A T-P-A VOTE, THEN THEY WON'T BE ABLE TO HALT WHAT THEY SEE AS CONCERNING TRADE DEALS LIKE TRANS PACIFIC PARTNERSHIP.
EMERGENCE:
THE WARM WEATHER LAST WEEK HELPED PUSH CROP CONDITIONS RIGHT ALONG.  USDA SHOWS 29 PERCENT OF THE CORN CROP HAS EMERGED, A 20 POINT JUMP FROM THE PREVIOUS WEEK.  PLANTING IS NOW WELL AHEAD OF AVERGAE, WITH THREE-QUARTERS IN THE GROUND. DESPITE SOME RAINS ACROSS THE BELT, TEH SOYBEAN CROP ALSO MADE SOME GAINS, WITH A THIRD OF THE CROP PLANTED.
WASDE:
CORN SAW SOME BULLISH NEWS THIS WEEK AS USDA LOWERED ITS CORN PRODUCTION FORECAST THIS YEAR.  IN ITS SUPPLY-AND-DEMAND REPORT, THE AG DEPARTMENT PUT ITS MAY PROJECTION AT 13-POINT-SIX BILLION BUSHELS OF CORN.THAT'S 586 MILLION BUSHELS LOWER THAN LAST YEAR. THIS EARLY SEASON YIELD ESTIMATE COMES IN AT JUST UNDER 167 BUSHELS AN ACRE. THE SOYBEAN PRODUCTION IS AT THREE-POINT EIGHT BILLION BUSHELS. DOWN 119 MILLION BUSHELS THE AVERAGE YIELD IS 46 BUSHEL AN ACRE.
SORGHUM:
THE GLORY DAYS OF SORGHUM COULD BE NEARING AN END. USDA IS WARNING THAT CHINA COULD CURB IT'S BOOMING APPETITE FOR U-S SORGHUM SOMETIME THIS YEAR.  THE AGENCY'S LATEST SUPPLY AND DEMAND REPORT FORECASTS SORGHUM EXPORTS TO CHINA TO HIT A RECORD 9 MILLION TONNES WITH CHINESE IMPORTERS ALREADY SIGNING CONTRACTS FOR LARGE VOLUMES OF SORGHUM THIS YEAR. BUT USDA SAYS THE CHINESE GOVERNMENT IS LOOKING TO DIVERT ANY OUTSIDE FEED COMPETITION. RIGHT NOW IT'S CHEAPER FOR CHINESE BUYERS TO PURCHASE SORGHUM FROM THE U-S THAN IT IS TO BUY DOMESTICALLY.
MERGER:
LAST WEEK WE TOLD YOU ABOUT SYNGENTA REJECTING MONSANTO'S 45 BILLION DOLLAR OFFER TO BUY THE COMPANY. BUT NOW, REPORTS SAY THIS ONE OFFER COULD TIP OFF AN AG MERGER WAVE. SWISS BASED FINANCIAL COMPANY CREDIT SUISSE {SWEESE} SAYS IF SYNGENTA IS ULTIMATELY ACQUIRED BY SOMEONE, IT COULD MOVE OTHERS TO DO THE SAME. THEY NAMED COMPANIES LIKE BASF AND BAYER, AS WELL AS DOW AND DUPONT.
THEY ALSO THINK THE LIKELIHOOD THAT MOSNANTO WILL BE ABLE TO BY SYNGENTA IS LOW.
PITCH TO MIKE:
THOSE ARE THE HEADLINES...METEOROLOGIST MIKE HOFFMAN JOINS US NOW WITH WEATHER... MIKE, A LITTLE COOLER AND RAIINY THIS WEEK FOR MANY AREAS…DOES NEXT WEEK LOOK A LITTLE DRIER?
TEASE ONE:
THANKS SO MUCH, MIKE. WE'LL CRUNCH THE NUMBERS OF USDA'S LATEST REPORT IN OUR ROUNDTABLES THIS WEEK. BRIAN SPLITT AND SUE MARTIN JOIN ME NEXT.
JOHN’S WORLD PITCH:
SOME FARMERS HAVE BEEN FORTUNATE ENOUGH TO GET PLANTED IN RECORD TIME. WHILE OTHERS ARE BEGGING FOR MOTHER NATURE TO SHUT OFF THE WATER. FOR JOHN, THIS SPARKS A LARGER CONVERSATION.
TAG & CLOSE:
THANKS, JOHN. STILL TO COME, ROADBLOCKS IN WASHINGTON IMPACTED MAJOR LEGISLATION THIS WEEK. BUT DO SOME BILLS GIVE REGULATORY AGENCIES TOO MUCH FREEDOM? WE'LL DISCUSS IN OUR FARM JOURNAL REPORT AFTER THE BREAK.
HEADLINES:
 WELCOME BACK TO U-S FARM REPORT. WE HAVE MUCH MORE AHEAD THIS WEEKEND. EXPLORING REGULATORY OVERREACH OUR FARM JOURNAL REPORT TAKES US TO WASHINGTON D-C TO SEE WHAT SOME AGENCIES ARE DOING TO DICTATE HOW FARMERS DO THEIR JOB.  IN AMERICAN COUNTRYSIDE, THIS OLD SODA FOUNTAIN IS ATTRACTING NEW INTEREST IN MISSOURI. WE'LL TAKE YOU THERE TO SEE WHY SOME THINGS HAVE HAVEN'T CHANGED... EVEN THE PRICES AND IN CUSTOMER SUPPORT, IS THE GENERAL MEDIA BIAS? JOHN PHIPPS GIVES HIS THOUGHTS ON A VIEWER'S CONCERN.
EL NINO:
 NOW FOR THE NEWS, IF YOU'VE NOTICED A BIG CHANGE IN THE WEATHER, YOU'RE NOT ALONE. AND USDA SAYS YOU CAN POINT TO EL NINO AS THE CAUSE.
AVIAN FLU:
TWO MORE STATES CONFRIMED AVIAN FLU THIS WEEK, INDIANA AND NEBRASKA, BRINING THE STATE TOTAL TO 16.THE STRAIN FOUND IN INDIANA IS H-5-N-8, WHICH IS THE SAME ONE PREVIOUSLY CONFIRMED IN CALIFORNIA. BUT H-5-N-2, THE STRAIN CAUSING THE MOST DESTRUCTION ACROSS THE COUNTRY, WAS CONFIRMED ATT A NEBRASKA EGG-LAYING FACILITY WITH 1 POINT 7 MILLION CHICKENS. THE TOTAL NUMBER OF BIRDS HIT WITH AVIAN FLU IS NOW WELL OVER 30 MILLION. WHILE THERE'S NO VACCINE AVAILABLE NOW, USDA ALONG WITH PRIVATE FIRMS LIKE HARRISVACCINES, ARE WORKING ON A CURE.
EGG PRICES:
THE DES MOINES REGISTER SAYS THE SPREAD OF AVIAN FLU MEANS CONSUMERS ARE PAYING MORE FOR EGGS. THE AVERAGE COST FOR A LARGE CARTON OF EGGS IN APRIL WAS $1.19. NOW, IT'S TAKEN A 17 PERCENT JUMP AT $1.39 A DOZEN.
CITRUS GREENING:
MEANWHILE, IT'S A DIFFERENT DISEASE STRIKING THE CITRUS INDUSTRY. CITRUS GREENING IS WIPING OUT A LARGE PORTION OF FLORIDA'S CROP, SIGNIFICANTLY REDUCING THIS YEAR'S PRODUCTION. USDA EXPECTS THE CITRUS CROP TO BE 60 PERCENT LOWER THAN THE PEAK PRODUCTION WE SAW IN 1997 TO 1998. THE LATEST FORECAST SHOWS FLORIDA'S CROP IS DOWN 5 POITN 6 MILLION BOXES FROM LAST MONTH. FLORIDA'S AG COMMISSIONER ADAM PUTNAM SAYS THE DEPARTMENT WILL FIGHT TO SAVE FLORIA'S 10 POINT 7 BILLION DOLLAR INDUSTRY ALONG WITH THE 64 THOUSAND JOBS IT SUPPORTS.
USDA BEE:
A NEW STUDY SHOWS THE NUMBER OF BEE DEATHS LAST SUMMER WAS SURPRISINGLY HIGH. BASED ON A GROWER SURVEY, USDA SAYS WINTER KILL WAS DOWN THIS WINTE, BUT HIGHER SUMMER LOSSES MEANS THE OVERALL NUMBER OF BEE DEATHS ARE UP. SUMMER LOSSES WERE ACTUALLY HEAVIER THAN WINTER KILL FOR THE FIRST TIME. USDA SHOWS TOTAL LOSSES FROM APRIL OF 2014 THROUGH APRIL OF THIS YEAR HIT 42 PERCENT. THAT'S COMPARED TO 34 PERCENT LAST YEAR.SCIENCTISTS SAY BIGGEST THREAT TO THE INDUSTRY RIGHT NOW IS THE VARROA MITE, WHICH IS A PARASITE THAT WEAKENS BEES.
CUSTOMER SUPPORT:
IT'S RARE TO TUNE INTO A TELEVISION SHOW FOCUSED SOLEY ON AGRICULTURE. AND FOR THOSE NATIONAL OUTLETS THAT DO COVER AG ISSUES, SOME VIEWERS THINK THE REPORTING ISN'T FAIR. THAT'S TODAY'S CUSTOMER SUPPORT. JOHN
TEASE:
THANKS, JOHN.  UP NEXT, IF YOU HAVE FOND MEMORIES OF DAYS IN A LOCAL SODA SHOP, YOU'LL WANT TO STAY TUNED. ANDREW MCCREA TAKES US TO SOUTHERN MISSOURI WHERE A DOLLAR STILL GOES A LONG WAY.
NEXT WEEK:
COMING UP NEXT WEEK, WHAT'S THE SECOND MOST IMPORTANT JOB ON RACE DAY AT THE INDY 500? TO US, IT'S THE FARMER CHOSEN TO HAND DELIVER THE WINNING GLASS OF MILK. WE'LL INTRODUCE YOU TO THE 2015 MILK MAN NEXT WEEKEND ON U-S FARM REPORT.
UP NEXT, AL PELL HAS THIS WEEK'S TRACTOR AND CHURCH.
TRACTOR TALES:
THANKS, TYNE. ROBERT SMITH JOINS US TO SHOW OFF THIS FORD WORKMASTER. BUILT IN THE LATE 50'S AND MANUFACTURED IN HIGHLAND PARK, MI, THESE TRACTORS WERE GREAT UTILITY WORK HORSES FOR THEIR TIME.
CHURCH SALUTE:
TODAY'S COUNTRY CHURCH SALUTE GOES TO THE LEBANON BAPTIST CHURCH IN ANDERSON, SOUTH CAROLINA.THE CHURCH IS CELBERATING ITS 200TH BIRTHDAY THIS YEAR, BUT THEY TELL US THEY HAVE MANY HISTORICAL WRITINGS INVOLVING WITH THEIR CHURCH FAMILY DATING BACK TO THE 1700S. TO CELEBRATE SUCH A RICH HISTORY, THEY'VE ALREADY HOSTED AN ORGAN CONCERT, WITH AN ACCOMPLISHED MUSICIAN WHO GREW UP IN THE CHURCH. THE CONGREATION ALSO HAS A PICNTIC WITH GAMES PLANNED FOR THE SUMMER. OUR THANKS TO SANDRA MULLIKIN AND JENNY GENTRY FOR SHARING THEIR STORY…
GOODBYE:
FOR JOHN, AL AND MIKE, I'M TYNE MORGAN. THANK YOU FOR WATCHING U-S FARM REPORT. BE SURE TO JOIN US RIGHT HERE AGAIN NEXT WEEK, AS WE WORK TO BUILD ON OUR TRADITION. HAVE A GREAT WEEKEND, EVERYONE.

 

 

 

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