USFR Weekly Recap - November 1-2, 2014, 2014, 2014, 2014

November 1, 2014 03:30 AM
 

TODAY ON USFR
NOVEMBER 1-2, 2014

HEADLINES:
WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN, AND HERE'S WHAT WE'RE WORKING ON FOR YOU. PORT PROBLEMS…OUR FARM JOURNAL REPORT SHOWS US WHY UPGRADES TO ONE U-S PORT COULD BE PIVOTAL FOR US TRADE. WELL, HERE IN SEATTLE, WE ARE ACTUALLY THE CLOSEST PORT TO ASIA. BAXTER BLACK, A TRIBUTE TO ANIMAL LOVERS. BUT THE BULK OF THE ANIMAL KINGDOM BE PLACED IN THE HANDS OF A FEW, WHO FEEL MORE AT HOME IN A PASTURE, THAN AN OFFICE ON FIFTH AVENUE, AND FROM THE FARM... DONT' FORGET TO VOTE NEXT TUESDAY. IT PROBABLY WONT' BE TOO BUSY AT THE POLLS.
SOYBEAN:
MEANWHILE, THE SOYBEAN PIT SAW SOME NEW LIFE EARLIER THIS WEEK. THE NOVEMBER SOYBEAN FUTURES CONTRACTS AT THE CME HAVE CLIMBED NEARLY A DOLLAR IN THE LAST MONTH. NOW BACK IN THE 10 DOLLAR A BUSHEL TERRITORY...THANKS TO STRONG WORLD EXPORTS AND THE SLOW PACE OF HARVEST.SOYBEAN MEAL SAW A SIMILAR BOOST, JUMPING NEARLY 50 DOLLARS IN JUST A COUPLE OF DAYS. JOE VACLAVIK OF STANDARD GRAIN SAYS HEADACHES ON THE RAIL ARE TO BLAME.
WHEAT ACRES:
MANY FORECASTERS ARE POINTING TO FEWER CORN ACRES. AND THAT'S OPENING TO THE DOOR FOR MORE WHEAT NEXT YEAR. IN AREAS LIKE THE CENTRAL PLAINS, WHEAT HAS MORE ATTRACTIVE RETURNS THAN CORN.A  NEW BLOOMBERG SURVEY INDICATES FARMERS WILL SOW THE MOST WHEAT SINCE 2007 THIS YEAR. IMPROVED GROWING CONDITIONS IN THE PLAINS THANKS TO SOME MOISTURE ARE ALSO SUPPORTING THE ACREAGE BOOST.
RICE:
RICE FUTURES TOOK A DIVE THIS WEEK, FALLING TO THE LOWEST LEVEL SINCE 2010. TRADERS SAY THE OUTLOOK FOR A JUMP IN U-S PRODUCTION AND INCREASED EXPORTS IS PUTTING PRESSURE ON PRICES  ALREADY THIS YEAR, RICE FUTURES HAVE DROPPED NEARLY 20 PERCENT.
CHINA GRAIN FACILITY:
CHINA'S LARGEST STATE-RUN GRAIN TRADING COMPANY COULD SOON GO PUBLIC. COFCO CORPORATION SAYS ITS PLANNING A PUBLIC OFFERING THAT WOULD INCLUDE ITS TRADING AND AGRICULTURE -TECHNOLOGY ASSETS. THE COMPANY SAYS ITS GOAL IS TO BE ABLE TO COMPETE BETTER WITH U-S AGRIBUSINESSES.
JOHN’S WORLD:
THERE IS A CHANCE THAT THE ELECTION NEXT WEEK COULD HAVE ONE OF THE LOWEST TURNOUTS EVER. AMAZINGLY, INTEREST IN THE MIDTERMS HAS BEEN DROPPING THE CLOSER WE GET TO THE DATE. WHY SHOULD AN ELECTORATE WHICH POLLS SHOW OVERWHELMINGLY THINKS THE COUNTRY IS HEADED IN THE WRONG DIRECTION CHOOSE TO SIT THIS ONE OUT? IT IS PROBABLY A COMBINATION OF FACTORS. MANY OF US ARE IN SO-CALLED NON-COMPETITIVE DISTRICTS FOR THE HIGHER OFFICES SUCH AS CONGRESS AND EVEN GOVERNORS. UNLESS THERE ARE HIGH-INTEREST LOCAL RACES, IT BECOMES PRETTY EASY TO FORGET TO VOTE. BUT IF WE DO HAVE AN EMBARRASSING TURNOUT, I THINK A BIG CAUSE IS THE EXTRAORDINARILY LOW ESTEEM IN WHICH WE HOLD POLITICIANS - VIRTUALLY ALL ELECTED OFFICIALS. OFFICE-HOLDERS AT ALL LEVELS CONSISTENTLY SHOW UP NEAR THE BOTTOM OF APPROVAL AND TRUST SURVEYS. WE DON'T VOTE BECAUSE WE DON'T LIKE THE PEOPLE RUNNING VERY MUCH. MEANWHILE THE PREVALENCE OF NEGATIVE ADVERTISING REINFORCES THAT JUDGMENT. MORE OMINOUSLY TO ME, THE ACCEPTANCE OF GRIDLOCK AS A POLITICAL STRATEGY FOSTERS A SENSE OF FUTILITY. IF NOTHING IS GOING TO GET DONE, WHY DOES IT MATTER WHO ISN'T DOING IT? POLITICAL EXPERTS HAVE NOTED THIS ELECTION DOES NOT HAVE MANY POLICY DEBATES, ONLY PERSONALITY ATTACKS. MOREOVER, CANDIDATES ARE NOT SPELLING OUT WHAT THEY SUPPORT, BUT WHAT THEY OPPOSE. POLITICAL ADS REPRESENT AN ENORMOUS STREAM OF REVENUE, ESPECIALLY FOR TELEVISION. AND THE FOUR BILLIUON DOLLARS SPEND ON THIS ELECTION CYCLE COULD BE GENERATING MORE VOTER TURNOFF THAN ENTHUSIASM. FINALLY, I THINK IT IS POSSIBLE THAT THE LARGE NUMBER OF POLLS AND 24/7 COVERAGE GIVE THE IMPRESSION THAT THERE IS A SCOREBOARD AND THE ELECTION IS IMPLY THE LAST FEW MINUTES OF A GAME. IF THE POLLS SEEM TO SHOW A LOPSIDED OUTCOME, WHY WATCH THE END OF THE CONTEST? IT WOULD BE IRONIC IF INTENSE COVERAGE, BY CREATING THE APPEARANCE OF FORGONE CONCLUSIONS ACTUALLY MADE RACES MORE UNPREDICTABLE. IN FACT, I'M HOPING FOR IT.
HEADLINES:
WELCOME BACK TO U-S FARM REPORT. WE STILL HAVE MUCH MORE AHEAD THIS WEEKEND…OUR FARM JOURNAL REPORT SHOWS US WHY BACKLOGS ON RAIL AND WATER AREN'T JUST A ONE-YEAR EVENT. MIKE HOFFMAN HAS HIS ANTICPATED WINTER OUTLOOK. HERE'S A HINT, IF YOU DON'T LIKE THE COLD, YOU MAY WANT TO HAVE THE MUTE BUTTON READY. AND IN TRACTOR TALES, A RARITY IN SHEDS ACROSS THE COUNTRY, A CLASSIC I THAT'S ONLY 1 OF 500. U.S. FARM REPORT BROUGHT TO YOU BY THE ALL-NEW CHEVY SILVERADO 2014 NORTH AMERICAN TRUCK OF THE YEAR…

BEEF CHECKOFF:
NOW FOR THE HEADLINES, FEWER CATTLE TO SELL IN THIS COUNTRY MEANS THE BEEF CHECKOFF IS HURTING FOR FUNDS. AND NOW THE AG SECRETARY IS MAKING A BOLD MOVE, SAYING HE'S STARTING A SECOND CHECKOFF TO HELP RANCHERS OF ALL SIZE.
AGRO EARNINGS:
WE'VE BEEN REPORTING ON HOW LOWER COMMODITY PRICES ARE BLEEDING OVER INTO EQUIPMENT SALES. AGCO POSTED ITS EARNINGS THS WEEK, SHOWING A 13 PERCENT DROP IN NET SALES FOR THE THIRD QUARTER THIS YEAR. BUT NET INCOME IS THE MOST SEVERE, DOWN 48 PERCENT TO 65 MILLION DOLLARS. AGCO IS THE PARENT COMPANY OF EQUIPMENT BRANDS SUCH AS CHALLENGER AND MASSEY FERGUSON.
CNH LAYOFFS:
LOWER FOUR WHEEL DRIVE TRACTOR SALES ARE ALREADY FORCING SOME PRODUCTION LINES TO CUT BACK.C-N-H, WHICH OWNS BRANDS SUCH AS CASE I-H, ANNOUNCED THIS WEEK IT'S CUTTING 150 JOBS AT ITS MOUNT PLEASANT WISCONSIN SITE. THE LAYOFFS ARE INDEFINITE.
KUBOTA:
MEANWHILE, 2 WHEEL DRIVE TRACTOR SALES ARE STRONG. AND THAT'S REFLECTED IN KUBOTA'S ANNOUNCEMENT THIS WEEK TO RAMP UP PRODUCTION. KUBOTA IS A LARGE MANUFACTURER OF SMALL TRACTORS. THE COMPANY SAYS IT WILL EXPAND ITS GAINESVILLE, GEORGIA SITE, ADDING 650 JOBS.
KIPPLINGER:
OUR FRIENDS OVER AT PRO FARMER HAVE BIG NEWS. FARM JOURNAL ANNOUNCED ITS ACQUIRING THE KIPLINGER AGRICULTURE LETTER, WHICH HAS BEEN AROUND SINCE 1929.
IT FOCUSES ON POLICY, AND WILL NOW BECOMES THE AGRICULTURE LETTER.
MILK:
THE THOUGHT THAT MILK DOES THE BODY GOOD IS BEING CHALLENGED BY A NEW STUDY.
PUBLISHED IN THE JOURNAL B-M-J SAYS THERE'S NO LINK BETWEEN MILK CONSUMPTION HELPDING REDUCE FRACTURES AND BROKEN BONES IN ADULTS. INSTEAD, THE STUDY CLAIMS AVID MILK DRINKERS WERE MORE LIKELY TO DIE AT A YOUNGER AGE THE STUDY TOOK PLACE IN SWEDEN.
APPLE VINES:
GRAPES ARE GROWN ON VINES, BUT WHAT ABOUT APPLES? CHECK OUT THIS ORCHARD IN THE TRENTINO REGION OF ITALY. IT'S PART OF A 10-YEAR GROWING EXPERIMENT.
HERE TREES ARE PRUNED INTO NARROW WALLS, ALMOST RESEMBLING A VINEYARD.
THE GROWERS SAY THE FLAT SHORT WALLS MAKE EVERYTHING FROM SPRAYING TO HARVESTING EASIER AND SAFER.
WEATHER PITCH:
THAT'S IT FOR NEWS…IT'S HARD TO FORGET LAST WINTER... LONG, SNOWY AND BRUTALLY COLD. BUT WILL THIS WINTER BE BETTER (LET'S HOPE). MIKE HOFFMAN HAS HIS WINTER FORECAST.
FARM JOURNAL REPORT:
FROM RAIL TO WATER, THE U-S INFRASTRUCTURE SYSTEM NEEDS SOME T-L-C. A PIVOTAL PIECE OF LEGISLATION WAS PASSED THIS YEAR - THE WATER RESOURCES AND DEVELOPMENT ACT, OR WRDA, WHICH INCLUDES MORE THAN 8 BILLION DOLLARS IN FUNDING. CONGRESS PASSED THE LEGISLATION FOR THE FIRST TIME SINCE 2007, THE PRESIDENT SIGNED IT, BUT NOW THE WE'RE WAITING ON CONGRESS TO ALLOCATE THOSE FUNDS. AGRITALK HOST MIKE ADAMS RECENTLY TRAVELED TO SEATTLE TO SEE HOW PROBLEMS AT PORTS MEAN CHANGING TIDES IN U-S TRADE.
CUSTOMER SUPPORT:
JOHN'S TAKE ON HOW MUCH FARMERS HAVE HEDGED RECEIVED SOME POSITIVE REVIEWS.
BUT THAT CONVERSATION ISN'T FINISHED. JOHN JOINS US NOW ON HIS FARM WITH MORE.
TEASE:
THANKS, JOHN. ONE OF THOSE THINGS THAT'S EASIER SAID THAN DONE...IF YOU HAVE QUESTIONS OR COMMENTS FOR JOHN, JUST SEND THOSE TO MAILBAG AT U-S FARM REPORT DOT COM. WHEN WE COME BACK, BAXTER BLACK HAS A TRIBUTE TO ANIMAL LOVERS ACROSS THE COUNTRY.
CASE BB:
U.S. FARM REPORT BROUGHT TO YOU B Y CASE IH. TO LEARN MORE VISIT CASEIH.COM/EFFICIENT POWER...
BAXTER BLACK:
THE BLUE WAVE OF FFA JACKETS HIT THE STREETS OF LOUISVILLE, KENTUCKY THIS WEEK, AS THE NATIONAL FFA CONVENTION CONVENED IN THE BLUE GRASS STATE. THAT'S JUST ONE ORGANIZATION THAT TEACHES KIDS FROM ALL WALKS OF LIFE ABOUT AGRICULTURE, INCLUDING HOW TO LOVE AND CARE FOR ANIMALS.  AND TODAY, BAXTER BLACK HAS A TRIBUTE TO ANIMAL LOVERS, YOUNG AND OLD.
NEXT WEEK:
NEXT WEEK, MEET A WOMAN WHO TRADE IN THE BUSY CITY LIVING, FOR LIFE ON TEH FARM.
COMING UP:
WHEN WE COME BACK, AL PELL HAS THIS WEEK'S TRACTOR TALES.
TRACTOR TALES:
AL, I UNDERSTAND YOU HAVE AN EARLY MODEL GIBSON TO SHOW US THIS WEEK. AL, I UNDERSTAND YOU HAVE AN EARLY MODEL GIBSON TO SHOW US THIS WEEK.
CHURCH SALUTE:
TODAY'S COUNTRY CHURCH SALUTE GOES TO G-O-L LUTHERN CHRUCH IN KENYON, MINNESOTA. THE CONGREGATION CELEBRATED ITS 150TH ANNIVERSARY IN JULY. THE FIRST CONGREGATION WAS NORWEGIAN LUTHERAN AND THE BUILDING WAS MADE OF QUARRIED LIMESTONE HARVESTED FROM THE LOCAL RIVER. THE COST TO BUILD IT? ONLY 82 HUNDRED DOLLARS...TODAY, IT STILL STANDS AND IS THE OLDEST GOTHIC STYLE CHURCH IN THE COUNTY. OUR THANKS TO AILEEN QUALLE FOR SHARING THEIR STORY…

    

Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close