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USFR Weekly Recap - November 15-16, 2014, 2014, 2014, 2014

09:30AM Nov 15, 2014

TODAY ON USFR
NOVEMBER 15-16, 2014

HEADLINES:
WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN, AND HERE'S WHAT WE'RE WORKING ON FOR YOU THIS WEEKEND. FEELING THE PINCH...OUR FARM JOURNAL REPORT SHOWS US WHAT LEANER TIMES COULD MEAN FOR DIFFERENT GENERATIONS ON THE FARM.  A STRONG BOND... LEAVE A LEGACY INTRODUCES US TO AN ARKANSAS FAMILY WHO CHERISHES THEIR FAMILY TIES AND AFTER A HUGE RESPONSE, JOHN ALSO REVEALS THE WINNER OF HIS BIG ANTIQUE TRACTOR GIVEAWAY.
OREGON WHEAT SUIT:
NOW FOR THE MARKET HEADLINES…AN UNAPPROVED GENETICALLY ENGINEERED WHEAT STRAIN THAT MYSTERIOUSLY GREW IN AN OREGON WHEAT FIELD CAUSED TRADE DISRUPTIONS LAST YEAR. AND NOW MONSANTO HAS AGREED TO PAY 2 POINT 4 MILLION DOLLARS TO WHEAT FARMERS IN THE PACIFIC NORTHWEST TO HELP WITH ANY FINANCIAL LOSS.
USDA NOV YIELD:
THE NATIONAL CORN YIELD MAY NOT BE AS HIGH AS SOME ANALYSTS PROJECTED.
THE U-S DEPARTMENT OF AGRICULTURE RELEASED ITS LATEST CROP PRODUCTION REPORT ON MONDAY.THE DEPARTMENT LOWERED CORN YIELD BY LESS THAN 1 BUSHEL PER ACRE. THE NATIONAL CORN YIELD IS NOW PROJECTED AT 173 POINT 4. THE SOYBEAN YIELD, HOWEVER, IS GROWING. USDA PEGS THE NATIONAL AVERAGE AT 47 POINT 5 BUSHELS PER ACRE. THAT'S UP ABOUT A HALF A BUSHEL FROM THEIR OCTOBER FORECAST.
ILLINOIS YIELD:
WE'VE HEARD REPORTS OF FARMERS IN ILLINOIS SEEING THE BEST CROP YIELDS EVER. AND THAT'S EVIDENT IN THE NUMBER OF ELEVATORS RUNNING OUT OF STORAGE. THIS IS A SITE NEAR CHAMPAIGN, ILLINOIS. YOU'RE LOOKING AT MORE THAN 3 MILLION BUSHELS OF CORN ON THE GROUND IN EMERGENCY STORAGE ALONE.
RIVER CONCERNS:
WITH ALL OF THIS CROP ON THE GROUND, MANY LOCATIONS ARE RELYING ON THE RIVER TO RELIEVE STORAGE SPACE.THAT'S WHY THE NATIONAL CORN GROWERS ASSOCIATION IS ASKING THE U-S ARMY CORPS OF ENGINEERS TO FULLY REOPEN A THREE-MILE STRETCH NEAR MEMPHIS.THE CORPS CLOSED THE AREA FOR LEVEE WORK FOR 14 DAYS. NCGA FEARS IT WILL RESULT IN MORE GRAIN SHIPMENT DELAYS.
CRUDE SHIPMENTS:
MEANWHILE, MORE GRAIN AND PETROLEUM IS BEING SHIPPED ON ALREADY CONJESTED RAILWAYS THE ENERGY INFORMATION ADMISTRATION SAYS SO FAR THIS YEAR, GRAIN SHIPMENTS ARE UP 15 PERCENT OVER 2013, AND THE AMOUNT OF CRUDE AND PETROLEUM SHIPPED BY RAIL IS UP 13 PERCENT.
AG INVESTORS:
OUTISDE MONEY IS FLOWING BACK OUT OF THE AGRICULTURE COMMODITY SECTOR. ACCORDING TO RESEARCH FIRM MARKIT, 3 POINT 1 BILLION DOLLARS HAS BEEN PULLED OUT SO FAR. FUND INVESTMENTS PEAKED IN 2011, AT 8 POINT 4 BILLION DOLLARS.
PITCH TO MIKE:
THAT'S IT FOR NEWS. NOW METEOROLOGIST MIKE HOFFMAN HAS WEATHER. MIKE, SEVERAL STATES ARE SEEING SNOW THIS WEEKEND. HOW LONG WILL IT LAST?
TEASE ONE:
THANKS MIKE… BETWEEN FUND MONEY FLOWING OUT OF AG COMMODTIES AND HICCUPS ARLEADY OCCURING ON OUR WATERWAYS, WE HAVE PLENTY TO DISCUSS IN THE MARKETING ROUNDTABLES. MARK GOLD AND BOB UTTERBACK JOIN ME AFTER THE BREAK.
HEADLINES:
WELCOME BACK TO U-S FARM REPORT. WE STILL HAVE MUCH MORE AHEAD THIS WEEKEND…
OUR FARM JOURNAL REPORT TELLS US WHY IT'S YOUNG FARMERS THAT MAY NEED TO PROCEED WITH CAUTION THE NEXT FEW YEARS. IN CUSTOMER SUPPORT, JOHN FINALLY SHARES WITH US THE BIG WINNER OF HIS TRACTOR GIVEWAY.  IN LEAVE A LEGACY, WE'LL MEET A HUMBLE ARKANSAS FAMILY WHO CHERISHES EVERY DAY THEY HAVE WITH EACH OTHER ON THE FARM, AND IN TRACTOR TALES, A BEAUTY THAT ORGINATED FROM ACROSS THE SEAS.
GMO STUDY:
MEANWHILE, A NEW STUDY OUT OF EUROPE IS PRO-GMO. THE GERMAN RESEARCHERS SAY THE MODIFIED CROPS ARE GOOD FOR THE ECONOMY AND THE ENVIRONMENT. THE AUTHORS FOUND GM CROPS HAVE REDUCED CHEMICAL PESTICIDE USE BY 37 PERCENT, INCREASED CROP YIELDS BY 22 PERCENT AND INCREASED FARMER PROFITS BY 68 PERCENT
GE DEREGULATIONS:
ALSO THIS WEEK, FARMERS ARE ONE STEP CLOSER PLANTING GENETICALLY ENGINEREED ALFALFA AND POTATOES.USDA'S APHIS UNIT ANNOUNCED IT WILL DEREGULATE TWO G-E PETITIONS, ONE OF WHICH IS LOW LIGNIN ALFALFA. IT ALSO DEREGULATED A G-E POTATO VARIETY THAT'S ENGINEERED FOR LOW- ACRYLAMIDE POTENTIAL AND REDUCED BLACK SPOT BRUISING. ANOTHER POTATO VARIETY THAT ALSO INCLUDES LATE BLIGHT RESISTANCE IS NOW OPEN FOR PUBLIC COMMENT.
CLIMATE CHANGE:
THE U-S AND CHINA STRIKING A DEAL ON CARBON EMISSIONS MID-WEEK…THE CHINESE AGREEED TO PUT A CAP ON ITS OUTPUT BY 2030...AND INCREASE THE USE OF NON-FOSSIL FUELS, AND PRESIDENT OBAMA PLEDGES THE U.S. WILL CUT ANOTHER 26 TO 28 PERCENT OF IT'S EMISSIONS WITHIN THE NEXT TEN YEARS. AGRICULTURE IS LISTED AS AN AREA TARGETED FOR FURTHER REDUCTIONS.3. GOP MEMBERS OF CONGRESS HAVE ALREADY VOICED OPPOSITION TO THE PLAN.
SMALL DRONES:
FLYING SMALL DRONES FOR COMMERCIAL USE MAY BE LEGALLY ACCEPTABLE BY THE NEW YEAR.F-A-A OFFICIALS SAY THEY ARE CLOSER TO RELEASING THE LONG-AWAITED RULING. IT'S BEEN IN THE WORKS FOR NEARLY A YEAR.
EQUIPMENT SALES:
FARMERS MAY BE BUYING FEWER BIG TICKET ITEMS, LIKE COMBINES, BUT OVERALL TRACTOR SALES AREN'T FADING.THE ASSOCIATION OF EQUIPMENT MANUFACTURER'S MONTHLY FLASH REPORT SHOWS COMBINE SALES ARE DOWN NEARLY 49 PERCENT JUST IN OCTOBER.YEAR TO DATE SALES ARE ALSO WEAKER THAN LAST YEAR. BUT STRENGTH IN THE LIVESTOCK SECTOR IS REALLY BOOSTING TWO-WHEEL DRIVE SALES. SO, DESPITE A DROP IN FOUR-WHEEL DRIVE SALES, THE AMOUNT OF TOTAL FARM TRACTORS SOLD THIS YEAR IS STILL UP 4 PERCENT.
FARM JOURNAL REPORT:
A RECENT AGRIBANK SURVEY FOUND MANY THINK INTEREST RATES ARE ON TEH WAY UP.
THE BANK POLLS FARM CREDIT CHIEF FINANCIAL OFFICERS.THAT GROUP THINK THE COST OF BORROWING WILL RISE, SO BORROWERS SHOULD LOCK IN FIXED INTEREST RATES.
CUSTOMER SERVICE:
AS JOHN WILL TELL YOU, HIS TRACTOR GIVEAWAY ATTRACTED WAY MORE INTERST THAN ANY OF US THOUGHT. WE RECEIVED OVER 160 ENTRIES FROM 25 STATES, ALL WILLING TO TRAVEL TO JOHN'S JUST TO PICK UP THE ANTIQUE. AFTER CAREFUL CONSIDERATION, JOHN HAS A WINNER…JOHN.
TEASE:
CONGRATULATIONS, EMILY. WE PLAN TO FOLLOW HER PROGRESS THROUGHOUT THE YEAR. SO, EMILY, I ALSO LOOK FORWARD TO MEETING YOU. UP NEXT A LEGACY STORY THAT'S ALL ABOUT QUALITY FAMILY TIME...
ARK FB FARM FAMILY:
EACH YEAR THE ARKANSAS FARM BUREAU NAMES A FARM FAMILY OF THE YEAR.IN 2013, IT WAS THE GILLS FROM MCGEHEE, ARKANSAS WHO RECEIVED THE HONORABLE TITLE. LIKE MANY FARM FAMILIES, THE GILLS ARE HUMBLE, AND SAY OTHER FAMILIES ARE MORE DESERVING. BUT AS YOU'LL SEE, IT'S NOT A TITLE THIS FAMILY CHERISHES, BUT THE QUALITY TIME THEY GET TO SPEND WITH THEIR KIDS ON TEH FARM.
TRACTOR TALES:
AL, I UNDERSTAND WE HAVE A TRACTOR THAT ORIGINATED IN ENGLAND THIS WEEK? THAT'S RIGHT TYNE. IT'S CALLED A COUNTY SUPER 6.
CHURCH SALUTE:
TODAY'S COUNTRY CHURCH SALUTE GOES TO THE ST LOUIS PARISH IN CUSTAR, OHIO, WHICH ESTABLISHED ITS ROOTS IN 1864. CELEBRATING 150 YEARS, IT'S A SMALL, RURAL OHIO CATHOLIC CHURCH. THEY TELL US THE CONGREGATION HAS BEEN CELERBATING THE BIG ANNIVERSARY ALL YEAR. OUR THANKS TO JULIE LAUSE FOR SHARING THEIR STORY...

 

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