USFR Weekly Recap - November 5-6, 2016

May 30, 2015 03:30 AM
 
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TODAY ON USFR
NOVEMBER 5, 2016


HEADLINES
WELCOME TO THIS SPECIAL EDITION OF U.S. FARM REPORT FROM KANSAS CITY.  I'M TYNE MORGAN, AND HERE'S WHAT WE'RE WORKING ON FOR YOU OVER THE  NEXT 60 MINUTES.  NOVEMBER CAME IN LIKE A BEAR FOR THE MARKETS. OUR ROUNDTABLES ARE ON  THE ROAD FROM AGRICULTURE FUTURE OF AMERICA IN KANSAS CITY AND WE'LL  FIND OUT WHY.  A FIGHT OVER DICAMBA DRIFT TURNED DEADLY LAST WEEK, BUT WHY IS IT TAKING SO LONG FOR EPA TO APPROVE THE NEW HERBCIDE?   WE HAVE HENRY CLAY HE IS CALLED OUR CONSISTENT LOSER. THAT'S OUR FARM JOURNAL REPORT.  WITH THE PRESIDENTIAL ELECTION COMING UP NEXT WEEK, IT'S A TRIUBITE NOT  TO MOCK, BUT HONOR THOSE CANDIDATES WHO'S CONTRIBUTIONS MIGHT  EASILY BE FORGOTTEN... THAT'S THIS WEEK'S AMERICAN COUNTRYSIDE WITH ANDREW MCCREA. AND IN JOHN'S WORLD...

CHOPPY SOYBEAN MARKETS
NOW FOR THE NEWS THAT MOVED THE MARKETS THIS WEEK... SOYBEAN MARKETS SEEING CHOPPY ACTION THIS WEEK AFTER AN OCTOBER  RALLY.  NEXT WEDNESDAY USDA RELEASES ITS LATEST SUPPLY DEMAND REPORT AND  MARKETS ARE ALREADY GEARING UP FOR ADJUSTMENTS TO YIELD  EXPECTATIONS.TRADERS SPENDING THE WEEK POSITIONING THEMSELVES FOR THE REPORT.  COMMODITY BROKERAGE FIRM, F-C STONE, PUTTING OUT ITS OWN PRE-REPORT FORECAST. IT'S RAISING THE 2016 SOYBEAN ESTIMATE TO A NATION WIDE  AVERAGE OF NEARLY 53 (52 POINT 8) BUSHELS TO THE ACRE. USDA PUT YIELDS  JUST ABOVE 51 (51.4) IN OCTOBER. FC STONE IS ALSO FORECASTING CORN TO  TOP 175 (175.3) BUSHELS TO THE ACRE AS A NATIONWIDE AVERAGE. USDA A  COUPLE BUSHELS LOWER (173.4) THAN THAT IN OCTOBER.

BREXIT PROBLEMS
A NEW WRENCH IN BREXIT… THE PARLIAMENT MUST NOW SIGN OFF ON THE  BRITISH GOVERNMENT'S PLAN TO LEAVE THE EUROPEAN UNION. A HIGH COURT  RULED PARLIAMNET MUST GIVE FINAL APPROVAL BEFORE THE PROCESS CAN  BEGIN.  ANALYSTS SAY THE MOVE WILL LIKELY SLOW, NOT STOP, BREXIT. 

FED TO RAISE INTEREST RATES
THE FEDERAL RESERVE SENDING SIGNALS THAT IT'S ON TRACK TO RAISE  INTEREST RATES NEXT MONTH.  DURING THE TWO DAY MEETING THIS WEEK, THE FED SAYS IT'S NOT RAISING ITS BENCHMARK INTEREST RATE IN NOVEMBER, SAYING IT'S STAYING THE COURSE  LEADING UP TO THE ELECTION. AFTER THE MEETING, THE FED SAID THE CASE IS  THERE FOR A RATE HIKE, BUT WAITING FOR FURTHER EVIDENCE TO DO SO. THE  NEWS CAME AS NO SURPRISE TO ANALYSTS, AS A RATE HIKE IS ALREADY PRICED  IN FOR DECEMBER. 

 

CROP PROGRESS
CORN HARVEST IS NOW RIGHT ON TRACK WITH AVERAGE, AT 75 PERCENT  COMPLETE. THAT'S A 14 POINT JUMP IN A WEEK.  SOYBEAN HARVEST NOW SURPASSING AVERAGE AT 87 PERCENT COMPLETE.  THAT'S 2 POINT AHEAD OF AVERAGE AND AN 11 POINT INCREASE IN JUST A WEEK. AND COTTON HARVEST IS TRAILING BY 2 POINTS, AT 46 PERCENT COMPLETE.     CALIFORNIA, SOUTH CAROLINA AND TEXAS LOOK TO BE BEHIND THE MOST WHEN  IT COME TO COTTON HARVEST THIS YEAR. 

WEATHER
THOSE ARE THE HEADLINES...METEOROLOGIST MIKE HOFFMAN JOINS US NOW  WITH WEATHER...MIKE, HOW ARE THINGS SHAPING UP NEXT WEEK FOR THOSE  LOOKING TO WRAP UP HARVEST.  TYNE OVERALL VERY NICE ALTHOUGH IT DOES DEPEND ON EXACTLY WHERE YOU LIVE NOW FIRST LET'S CHECK THE DROUGHT MONITOR IT HAS GOTTEN WORSE IN  THE SOUTHEAST SOUTHERN PORTIONS OF THE MISSISSIPPI OF BEING SEEN  WHAT LOOKED LIKE A MONTH AGO AND THE CHANGE HAS BEEN GRADUAL BUT IT  IS BEING GETTING DRIER AND DRIER AND DRIER IN THE SOUTHEASTERN AND  SOUTH CENTRAL PORTIONS OF THE COUNTRY IT'S ALSO STARTING A LITTLE DRY  THERE IN THE HIGH PLAINS STATES IN THE EASTERN COLORADO WESTERN  KANSAS IT'S ACTUALLY IMPROVED A LITTLE BIT IN NEW ENGLAND SO LET'S GO  DAY BY DAY AS WE START OFF ON MONDAY THIS COULD BE THE WET AREA BUT  THIS FRONT AROUND THE NORTHERN AND CENTRAL PLAINS REALLY WOULD JUST  BRING SCATTERED SHOWERS IDOL SEE THIS IS BEING ANYTHING HEAVY IT'LL BE  MOVING QUICKLY WILL START A WEEK NICE AND DRY IN EASTERN THIRD OF THE  COUNTRY AND MOST OF THE WEST EXCEPT FOR THE PACIFIC NORTHWEST  WHERE THAT SYSTEM JUST KIND OF STALLS OUT FOR A LITTLE WHILE OVER THE  PACIFIC NORTHWEST EVEN ON IN THE WEDNESDAY THAT SYSTEM OVER THE  PLAINS ON MONDAY MOVES TO THE EAST COAST ON WEDNESDAY'S YOU CAN SEE  WAS SCATTERED SHOWERS UP AND DOWN IT ALSO DRIES OFF AGAIN FOR MOST  OF THE CORN BELT HELP THE FOLKS FINISH UP OUR BEST BUT IT DOES  CONTINUE TO SHOW SOME SCATTERED SHOWERS IN THE SOUTHERN PORTIONS  OF THE PLAINS STATES HEADING TOWARD FRIDAY THEN YOU CAN SEE WHAT'S  HAPPENING THIS STORM SYSTEM STARTED TWO OF THESE THIS COULD BE GOOD NEWS FOR SOME FOLKS IN THE SOUTHEAST GETTING SOME DECENT RAINS OUT  OF THAT SYSTEM LATE NEXT WEEK FOR THE FOLLOWING WEEKEND WHILE AGO  THIS COLD AIR COMING SOUTH OR IT IS NOT ARCTIC AIR BUT NONETHELESS IT IS  TURNING COLDER IN THE NORTHERN PLAINS EVEN SOME SNOW INTO THE  NORTHERN GREAT LAKES ARE LONGER RANGE OUTLOOK IN OUR NEXT HALF  HOUR.

TEASE
WHEN WE COME BACK, THREE VETERAN ANALYSTS JOIN ME FROM KANSAS CITY  TO INVESTIGATE THE CURRENT MARKET SITUATION. SO, DON'T GO ANYWHERE. 

ROUNDTABLE 1
WELCOME BACK TO U S FARM REPORT THE SPECIAL EDITION FROM AFA RIGHT HERE IN KANSAS CITY. AS YOU CAN SEE A PROMISE WE HAD A VETERAN PANEL OF ANALYSTS AND WE HAVE JUST THAT ALL RIGHT LET'S BREAK IT SAID TO SOME OF THE MARKET RELATED NEWS THIS WEEK. I MEAN WE SAW SUCH AN IMPRESSIVE OCTOBER WHEN IT CAME TO SOYBEAN AND CORN PRICES AND IT SEEM LIKEARLAN AS SOON AS THAT CALENDAR FLIPPED TO NOVEMBER WE SAW SOME MAJOR PRICE PRESSURE A COUPLE OF THINGS. FIRST OF ALL WE RAN OUT OF BUYING TO THE UPSIDE. AND FUNDS DON'T MAKE MONEY IN A STAGNANT MARKET. IT'S GOTTA BE GOING ONE WAY THE OTHER. AND WE SIMPLY DON'T HAVE A WEATHER EVENT SOUTH AMERICA AT THIS POINT. LITTLE WORD IN ARGENTINA. BRAZIL'S WE TALK TO OUR PEOPLE DOWN THERE, IS NEARLY IDEAL TO THIS POINTSECOND FACTOR THAT CAME IN IS THE PRESIDENTIAL ELECTION TOOK A TURN. SUDDENLY WHAT THE MARKET EXPECTED TO HAPPENED, LOOKS LIKE IT MAY NOT HAPPEN. IT'S UP IN THE AIR. THERE IS UNCERTAINTY. THE MARKETS ARE AMORAL IT'S NOT ABOUT WHAT'S RIGHT OR WRONG OR WHETHER WHAT THEY WANT OR WHATTHEY JUST LIKE CERTAINTY TO CAUSE THEY CAN ADJUST A CERTAINTY. AND POLITICIANS THEY KNOW WILL SAY WHAT THEY WANT A SAY IN ORDER TO GET ELECTED, BUT THEN THEY LEAD MAYBE A DIFFERENT WAY OR WHATEVER, THEY MAY LEAD THE SAME WAY. BUT THEY HAVE A TRACK RECORD TO KNOW WHAT TO EXPECTWHEN SUDDENLY THINGS GOT THROWN INTO A TOPSY TURVY SITUATION WITH THE PRESIDENTIAL ELECTION IN THIS BIZARRE CAMPAIGN. AND IT LOOKED LIKE SUDDENLY MAYBE DONALD TRUMP MIGHT WIN. WELL DONALD TRUMP DOESN'T HAVE POLITICAL BACKGROUND. SO HE SAYS WHAT IS GOING TO DO, BUT WILL HE? HE DOESN'T HAVE A POLITICAL BACKGROUND SO IT'S UNCERTAINTY.AND THE FEDERAL RESERVE IN PARTICULAR DOESN'T LIKE UNCERTAINTY. ONE THING THAT THEY HAVE A GOOD TRACK RECORD OF, IS WHEN THERE'S UNCERTAINTY DO NOTHING.AND SO SUDDENLY THE QUESTION MARK CAME INTO THE MIND OF THE MARKETS, MIGHT THE FED NOT RAISE RATES IN DECEMBER? AND SO THE DOLLAR PLUMMETED, THAT'S NORMALLY GOOD FOR COMMODITIESBUT WE SAW THE STOCKS TURN LOWER, WE SAW COMMODITIES TURN LOWER, THE CHARTS, MAJOR COMMODITY INDICES TURNED LOWER. WHEN A MAJOR COMMODITY INDICES ARE TURNED LOWER THEIR SELLING CONTRACTS OF CORN SOYBEANS WHEAT ET CETERA AND SO IT WAS RISK OFF AT THAT POINT AND EVERYTHING SAYING.WITH THESE DYNAMIC MARKETS RIGHT NOW, AND HEADING INTO SO MUCH MORE UNCERTAINTY ALAN WHAT DO YOU SUGGEST PRODUCERS DO WITH THOSE UN PRICE BUSHELS LET'S START WITH OLD CROPIF WE LOOK A TOTAL CROP THE FIRST QUESTION FOR PRODUCERS, WHAT DID YOU DO LAST SUMMER? IF YOU'VE GOT A LOT OF HEDGE POSITIONS IN PLACE OR IF YOU'VE ROLLED DOWN TAKEN MONEY OFF THE TABLE, YOU'RE IN A LITTLE DIFFERENT SITUATION. YOU CANSHOP FOR A FIRMER BASIS. AND NORMALLY WILL SEE THAT BASE IS THE SPREAD BETWEEN CASH IN FUTURE START TO NARROW AS WE COME OUT A HARVEST IN MOST OF THE BUSHELS FIND A HOMEAND YOU TRY AND LEARN THAT CARRY. WE'RE ACTUALLY BEING GIVEN THE OPPORTUNITY TO LOCK IN PRETTY GOOD STORAGE GAINS FOR WEEDING CORN OUT IN THE NEXT SPRINGYOU COULD GO AHEAD AND SELL MARCH OR MAY FUTURES.NOW IF YOU IF YOU HAVEN'T DONE THAT IF YOU DON'T HAVE THOSE HEDGE POSITIONS,YOU'VE GOT A MUCH MORE DIFFICULT SITUATION BECAUSE YOU'VE GOT A WEAK CASH BID AND YOU'VE GOT LARGE SUPPLIES. I THINK YOU STILL WAIT IT OUT BUT YOU MAY WANT A SELL JUST A LITTLE BIT OF YOUR INVENTORIES JUST BECAUSE WE HAVE RALLIED OFF THOSE HARVEST LOWS. WE WERE THIRTY CENTS OFF THE LOW WELL NOT ONLY NEXT WEEK WE HAVE THIS ELECTIONBUT WE ALSO HAVE A MAJOR USDA REPORT COMING OUT WHERE WE THINK USDA MAY RAISE SOYBEAN YIELD THAT KIND OF THE PROJECTION, YOU WOULD THINK THAT THAT THEN WOULD PRESSURE PRICESBUT MARKETS HAVEN'T REALLY REACTED NORMALLY SO FAR THIS YEAR, SO THE USDA DOES RAISE YIELD NEXT WEEK WHAT DO YOU EXPECT.I THINK LOOKING AT WHAT USDA HAS DONE I THINK YOU PROBABLY WILL SEE HIGHER BEAN YIELDS NEXT WEEK. EVERYTHING YOU HEAR OTHER COUNTRY IS THAT BEAN YIELDS ARE GOOD. BUT I THINK THE MARKET'S PRETTY WELL BAKED THAT IN AND IS READY FOR THAT TOO COMING DOWN THE PIKE..NOW WE SEE MAYBE SOMEWHAT RIDDICULOUS WAS FIFTY FOUR, FIFTY FIVE BUSHELS PER ACRE THEN THE MARKET IS PROBABLY GOING TO GO THE OTHER WAY ON US. BUT THE FACT IS, IF WE GET A HALF A BUSHEL, BUSHEL AND A HALF, I THINK THE MARKET'S READY FOR THAT. AND THE FACT WE TALKED A LITTLE BIT ABOUT THE DEMAND SIDE FOR BEING TOO STILL VERY VERY GOOD. AND THAT AND THAT'S GONNA BE THE GOOD THING FOR THE NEXT SIX MONTHS UNTIL THE BRAZILIAN CROP COMES ON. REAL QUICK FIFTY FOUR, FIFTY FIVE HE SAID THAT KINDA SEEMS RIDICULOUSBUT THAT YOU GUYS CAME OUT WITH YOUR OWN PROJECTIONS FOR THIS NEXT WEEK, AND AND MAYBE YOU THINK HE'S NOT THATFAR OFF?  OUR SURVEY-BASED ESTIMATE CAME IN A FIFTY TWO POINT EIGHT. THAT WAS UP THREE TENTS OF BUSHEL FROM OUR OCTOBER ESTIMATE. THAT IS NOW OUR ESTIMATE FOR THE FINAL JANUARY NUMBER. ONE POINT FOUR ABOVE USDA'S OLD NUMBER. SO WE THINK HE GETS A LITTLE BIT BIGGER BUT IT'S CLOSE.SO DEMAND HAS BEEN IMPRESSIVE FOR SOYBEANS, CAN THIS CONTINUE AND DOES IT CONTINUE TO SUPPORT PRICES? I THINK YOU'LL SEE CONTINUED STRONG EXPORT PROGRAMS FOR CORN AND SOYBEANS. PARTICULARLY ALL THE WAY INTO FEBRUARY MARCH. AND THERE'S VERY LITTLE SUPPLY OUT OF SOUTH AMERICA WE'VE GOT A HUGE FORWARD BOOKINGS COMMITMENTS. THE CHINESE SIGNED A COUPLE OF FRAME CONTRACTS AND THEY ARE EXECUTING ON THOSE. SO THAT YOU'LL SEE SOME THREE MILLION METRIC TON WEEKLY EXPORT SHIPMENTS I THINK IN SOYBEANS BEFORE THE END OF THE YEAR.ALL RIGHT WELL SPEAKING OF SOUTH AMERICA THEY PLANTED THEIR PLANT IN AN IMPRESSIVE PACE THAT MEANS THEY COULD HARVEST EARLIER WHAT COULD THAT MEAN FOR OUR PRICES? WILL TALK ABOUT THAT WHEN WE COME BACK ON U S FARMERS

ROUNDTABLE 2
ALL RIGHT LET'S TALK ABOUT SOUTH AMERICA NOW. THEY'VE BEEN POINTING AT AN IMPRESSIVE PACE LOOKS LIKE THEY COULD HARVEST EARLIER THAN NORMAL NORMAL DO YOU THINK THAT IT'S IN OUR EXPORT DEMAND EARLIER THE NORMAL AS WELL? OH SURE. I THINK THERE'S NO QUESTION THAT IF WE GET THAT CROP OUT OF BRAZIL, PARTICULARLY SOYBEANS, THAT THEY'RE GOING TO KIND OF EASE THEIR WAY INTO OUR PARTICULAR MARKETING SEASON COME YOU KNOW EARLY LATE FEBRUARY THAT SORT OF THING.I THINK THE BIG QUESTION IN SOUTH AMERICA IS ARGENTINA.YOU'VE GOT THE EXPORT TAX FOR WHEAT AND CORN AT ZERO. YOU STILL GOT A RELATIVELY HIGH EXPORT TAX FOR SOYBEANS AND SOYBEAN PRODUCTS. ON THEIRPRIMARY PRODUCT EXPORTER NOT A SOYBEAN PRODUCT. A LOT OF PEOPLE SAID AND WE THEY'RE NOT GOING TO PLANT SOYBEANS AND THEY'RE GONNA PLANT SOYBEANS BECAUSE THEY HAVE A CRUSH INDUSTRY TO SUPPORT. BUT I THINK THE QUESTION IS: WHAT IS THE MAGNITUDE OF THAT AND PARTICULARLY ON THE PRODUCT SIDEBUT YOU LOOK ACTUALLY AT OIL YOU LOOK AT MEAL EXPORTS OUT OF THE UNITED STATES, THEY'RE STILL PRETTY GOOD. PEOPLE HAVE BEEN KIND OF CONCERNED ABOUT THAT BUT I THINK THAT DEMAND IS VERY GOOD GLOBALLY. AND SO I THINK THE BIG QUESTIONS ARGENTINA WHAT HAPPENS IN ARGENTINA BRAZIL'S GONNA BE THERE TO COMPETE WITH US NO MATTER WHAT HAPPENS.LET'S SWITCH GEARS A LITTLE BIT OUR LINE A LOOK AT THIS MACRO PICTURE. FED ANNOUNCING THIS WEEK IT'S NOT RAISING INTEREST RATES IN NOVEMBER WHICH WE EXPECTED. IT SOUNDS LIKE THEY WILL IN DECEMBER. SO WHAT HAPPENS IF THEY DON'TRAISE INTEREST RATES IN DECEMBER?AND I THINK WE WOULD HAVE SEEN A STRONGER STATEMENT PREPARING THE MARKETS FOR DECEMBER HAD WE NOT HAD THE UNCERTAINTY THE PRESIDENTIAL ELECTION.AND ONCE WE GET INTO JANUARY, AND THE CONCERN IS THERE IF DONALD TRUMP DOES WIN, THE FED MAY SAY WELL WE'RE GONNA WAIT UNTIL ITS FIRST ONE HUNDRED DAYS, AND THEN WE GET INTO JANUARY, THE  NORMAL ROTATION OF THE FED BRINGS MORE DOVES ONTO THE VOTING MEMBERSHIP AND THE HAWKS ROTATE OFF. AND SO JANET YELLEN MAY HAVE MORE OF A BOARD THAT SHE LIKES AND GETS ALONG WITH, AND QUELL THE REBELLION A LITTLE BIT. AND WE MAY SEE THEM CONTINUE TO DELAY. THAT WOULD SUGGEST MORE WEAKNESS IN THE DOLLAR WHICH TENDS TO BE GOOD FOR COMMODITIES. BUT KEEP IN MIND EVEN WHEN THE EURO WAS BOUNCING THIS WEEK, PEOPLE WERE SELLING THE EURO. THE MONEY IN THE KNOW WAS MOVING OUT OF EUROPE IN TWO SWISS FRANCS. SO WE SEE THE JAPANESE YEN PLAYING INTO THIS IS WELL SO THIS IS REAL CONCERN I THINK LONGER TERM THE PATH OF LEAST RESISTANCE IS STILL HIGHER FOR THE DOLLAR.AND WHAT HAPPENS TO THE TO THE DOLLAR DEPENDING ON THE OUTCOME OF THE ELECTION? WHAT ARE YOU ANTICIPATING? I THINK ANYONE WHO'S SUGGESTING THAT THEY KNOW IS JUST BLOWING SMOKE AT YOU. THERE'S SO MANY PIECES TO THAT EQUATION.  GLOBAL MONEY FLOWS ARE--WE'RE TALKING TRILLIONS OF DOLLARS IN A HEARTBEAT SO IF YOU TRADE IN NEWS YOU LOSE THAT'S IT THAT'S A FUNDAMENTAL STATEMENT OF THE MARKET. AND I THINK THAT'S A CASE HERE. I THINK EVERYONE'S BEING DEFENSIVE. WE DO HAVE THE MONEY GOING TO THE SIDELINESSO THERE IS DEFINITELY POTENTIAL FOR SOMETHING TO GO UP BIG TIME AFTER THE ELECTION ONCE THE UNCERTAINTY IS RESOLVED. BUTWHAT IT IS, WE DON'T KNOW YET. WHAT OTHER MACO ELEMENTS ARE YOU WATCHING RIGHT NOW STEVE? WELL I THINK YOU KNOW WE TALKED ABOUT SOUTH AMERICAN AND WHAT'S GOING BRAZIL. WHAT IS THE RIO DOING?   WHEN WE LOOK AT IT FROM U S AGRICULTURAL EXPORTTHINK ABOUT THE CURRENCIES THAT ARE TRADED THE WEAK TRADE WITH. OBVIOUSLY WHAT'S HAPPENING WITH THE REAL IS EXTREMELY IMPORTANT. IS THAT REAL GOING TO CONTINUE TO WEAKEN AGAINST THE DOLLAR? OR IS IT GOING TO STRENGTHEN THE DOLLAR? I MEAN IT'S WE'VE HAD BOTH IN THE LAST FEW MONTHS.SO WHAT IS THE YEN DO? BECAUSE WE DO TRADE THAT. AND ALSO I THINK THE QUESTION WE TALKED IS ABOUT THE MEXICAN PESO IN THE WORLD. BUT REALLY WHEN YOU LOOK AT OUR MAJOR CUSTOMERS ARE NORTH AND SOUTH OF OUR BORDER. AND WE NEED TO MAKE SURE THAT THE PESO IN CANADIAN DOLLAR ARE COMPATIBLE WITH WITH OUR DOLLAR SO  WE KEEP THAT TRADE FLOW GOING. THOSE ARE VERY VERY IMPORTANT TRADE FLOWS FOR US. ARLAN WHAT ABOUT THESELIVESTOCK MARKETS. WHEN WE LOOK AT CATTLE PRICES THE NEW MONTH FLIPPED WE SAW SOME PRETTY IMPRESSIVE GAINS ARE BUTHAVE WE FOUND A BOTTOM HERE SHORT-TERM IN THIS CATTLE MARKET?WELL MAYBE A SHORT TERM BOTTOM. THE LAST CATTLE ON FEED REPORT WAS ENCOURAGING. WE FINALLY STARTED TO CUT DOWN ON OUR NUMBERS. UNFORTUNATELY COMES AT A TIME WHEN DEMAND TENDS TO GO INTO A HOLIDAY SEASON. WE HAVE MORE TURKEYS MORE HAMS ETCETERA SO IT'S A CONCERN. WE'VE SEEN SOME SIGNS OF ENCOURAGING EXPORT DEMAND THAT'S HELPED OUT. BUT THIS PAST WEEK'S TRADE IS REALLY DISAPPOINTING. WE THOUGHT WE'D SEE SOME MORE BUILD ON THE CASH MARKET. WE REALLY DIDN'T. IT WAS MOSTLY STEADY. I THINK THE ONLINE AUCTION WAS THE FIRST SIGN OF THAT AND WHEN THE RALLY STARTED TO LOSE SOME MOMENT TO THE UPSIDE, I'M WATCHING THAT 108 LEVEL FOR THE DECEMBER CONTRACT. BUT FUNDAMENTALLY RIGHT NOW WITH ALL THE RED MEAT WE HAVE ON THE MARKET IT'S TOUGH TO SEE SOME ABOVE THAT. BUT LONG TERM YOU'RE VERY CONCERNED ABOUT THESE CATTLE PRICES? YEAH. WE'RE PRETTYBEARISH LONG-TERM BECAUSE THE CATTLE CYCLE STILL EXPANDING. TYPICALLY THAT'S FOUR TO FIVE YEARS UP, FOUR TO FIVE YEARS DOWN. IT'S A IT'S AN EIGHT TO TWELVE YEAR CYCLE. SOIF IT CONTINUES TO EXPAND OVER TIME, YOU EXPECT CATTLE PRICES GO LOWER. AND CERTAINLY A RISK OF EIGHTY DOLLARS IN THE NEXT TWO YEARS SAY. EIGHTY DOLLARS AND WERE TALKING A HUNDRED RIGHT NOW SOTHAT HE DO RIGHT NOW REAL QUICK WHAT DID YOU KNOW RIGHT NOW TO PREPARE FOR THAT? A NUMBER ONE IF YOU'RE GOING IF YOU'RE STILL EXPANDING, LOOK AT THAT A LITTLE HARDER. A SECONDLY, WATCH THE HOG AND CHICKEN GUYS BECAUSE THEY CAN CUT QUICKER THAN YOU CAN GET. GOOD ADVICE THANKS SO MUCH STAY WITH US WILL GET A CLOSING THOUGHT WHEN WE COME BACK ON U S FARM REPORT

MARKETS NOW
ALL RIGHT TIME NOW FOR CLOSING THOUGHTS. ARLEN LET'S START WITH YOU. ON BULLISH AGRICULTURE, I THINK THERE'S GOING TO BE OPPORTUNITIES. BUT KEEP IN MIND THAT THE BIG CYCLE LIKE WE HAD 2008, 2009 WITH HIGH PRICES, THOSE COME ABOUT ONCE EVERY THIRTY YEARS. THE MONEY IN THE SYSTEM, THE MARKET WILL HAVE VOLATILITY WILL HAVE OPPORTUNITIESBUT YOU'RE GOING TO HAVE TO HAVE A RISK MANAGEMENT APPROACH. ALL RIGHT ALLAN? KEEP IN MIND, THE MARKET'S NOT A HOCKEY STICK. IN A SURPLUS SITUATION PRICE DOESN'T JUST GO DOWN AND GO FLAT, IT'S MORE OF A POGO STICK. IT GOES TOO FAR DOWN YOU PRESS THE SPRINGAND YOU BOUNCE BACK. AVERAGE ANNUAL TRADING RANGE IN CORN IS $1.19 A BUSHEL IN ONE YEAR. ALL RIGHT STEVE? I THINK A COUPLE QUICK THINGS--I THINK ONE, AND I AGREE WITH ALL THE MORE BULLISH IN AGRICULTURE. WE ARE IN A TOUGHER TIME PERIOD. I THINK THIS IS WERE YOU LOOK FOR THE OPPORTUNISM TO DIVERSIFY THAT OPERATION TOLOOK AT WHAT ARE THE NEW OPPORTUNITIES OUT THERE. IT COULD BE THINGS THAT YOU MAY NOT AGREE WITH THAT LOOK AT THAT.. I THINK ALSO THE OTHER THING TO BE THINKING ABOUT IS THE FUTURE MAY NOT BE WHERE THE OPPORTUNITY IS, THE BASIS IS WHERE THE OPPORTUNITY IS AND FARMERS SHOULD BE MERCHANDISING  . ALL RIGHT STEVE THANKS SO MUCH STAY WITH US WE HAVE A MUCH MORE FARM REPORT WHEN WE COME BACK

TEASE
RECEIVE A FREE TRIAL OF THE DAILY MARKET LETTER AND GAIN KNOWEGE  ABOUT CURRENT MARKET CONDITIONS FROMT EH PROFESSIONALS AT BOWER  TRADING. VIEW THE MARKETS LIKE NEVER BEFORE. GO TO BOWER TRADING DOT  COM 

JOHN’S WORLD
FOR SOME, THIS ELECTION SEASON HAS SEEMED LIKE A CENTURY... BUT IT'S ALL  COMING DOWN TO THIS ONE WEEK. HERE'S JOHN PHIPPS.  WELL, IT’S FINALLY UPON US. WHILE VOTING HAS STARTED OR ALREADY TAKEN PLACE FOR MANY OF YOU, FOR MOST OF US NEXT TUESDAY WILL BE THE DAY WHEN THIS UNPRECEDENTED CAMPAIGN SEASON REACHES SOME KIND OF END POINT. IT IS IMPORTANT, I THINK, TO ADDRESS ONE ALL-TOO-COMMON COMPLAINT BEFORE THAT HAPPENS.THROUGHOUT THIS PROLONGED PROCESS, I HAVE HEARD ONE GRIPE JUST A LITTLE TOO OFTEN: I DON’T LIKE EITHER CANDIDATE. REALLY? LOOK, BY MY COUNT AT LEAST TWENTY-FIVE PEOPLE DECLARED A CANDIDACY FOR OUR HIGHEST OFFICE, AND WE HAVE BEEN NARROWING THAT FIELD DOWN FOR TOO MANY MONTHS. DISSATISFACTION WITH THE FINAL CHOICE STRIKES ME ABOUT AS LAME AS SOMEONE GOING TO APPLEBEE’S AND SLOWLY FLIPPING THROUGH THEIR FORTY PAGE MENU AND SAYING “I DON’T SEE ANYTHING I LIKE”, OR STANDING IN A 10 BY 15 WALK-IN CLOSET AND MOANING “I DON’T HAVE ANYTHING TO WEAR.”TO QUOTE SOCRATES I THINK, “TOUGH BEANS”. I’VE CHECKED THE CONSTITUTION. AND THE DECLARATION OF INDEPENDENCE. AND THE MAGNA CARTA. AND THE CODE OF HAMMURABI. AND NOT ONCE DO ANY OF THEM ESTABLISH A RIGHT TO BE HAPPY WITH YOUR CHOICES.IN FACT, SINCE WE HAVE MADE THE LIVES OF CANDIDATES PRETTY MISERABLE THROUGHOUT THIS PROCESS, A LITTLE AGONY ON OUR PART MAY BE SIMPLE FAIR PLAY YOUR DUTY AND MINE IS CLEAR: TO GO TO THE POLLS AND MAKE THE BEST DECISION WE CAN. YOUR MOTIVE DOES NOT MATTER. YOUR ATTITUDE DOES NOT MATTER. BUT YOUR OBLIGATION TO SHOW UP IS, I BELIEVE, ABSOLUTE. OUR SYSTEM IS PLAGUED WITH PROCESS PROBLEMS, BUT IN THE END, THE CREDIT OR BLAME WILL FALL AT OUR FEET. SOMEONE ONCE SAID THAT IN A DEMOCRACY PEOPLE TEND TO DESERVE THEIR GOVERNMENT. IF WE FAIL IN THIS ONE CIVIC DUTY, WE’LL DESERVE WHAT WE GET.

TEASE
THANKS, JOHN. WELL, EVERY PRESIDENTIAL HAS A LOSER. BUT THERE'S A HALL  OF FAME FOR THOSE WHO NEVER BECOME PRESIDENT. ANDREW MCCREA TAKES US THERE LATER ON U-S FARM REPORT.  THE CHEVY SILVERADO IS THE OFFICIAL NEWS GATHERING VEHICLE FOR FARM  JOURNAL TELEVISION. 

HEADLINES
WELCOME BACK TO OUR SPECIAL EDITION OF U-S FARM REPORT FROM KANSAS  CITY. WE HAVE MUCH MROE HEAD. IT'S BEEN A LONG WAIT FOR THOSE FARMERS WANTING TO PLANT ROUNDUP  READY 2 XTEND. THAT'S OUR FARM JOURNAL REPORT. WHAT EVER HAPPENS TO THE PRESIDENTIAL HOPEFULS WHO NEVER BECOME  PRESIDENT? ANDREW MCCREA HAS THAT STORY. AND IN CUSTOMER SUPPORT...IT’S TIME TO GET THE VOTE OUT

PURDUE AG BAROMETER
NOW FOR THE HEADLINES, PRODUCERS OUTLOOKS ARE FADING AS THEIR FOCUS  SHIFTS TO 2017. THAT'S ACCORDING TO THE LATEST AG ECONOMY BAROMETER  JUST RELEASED THIS WEEK.  PURDUE UNIVESRITY AND CME TEAM UP TO GUAGE THE SENTIMENTS OF  PRODUCERS EACH MONTH AND RELEASE FINDINGS IN THE BAROMETER. THIS MONTH, THE BAROMETER DROPPED TO 92. THAT'S A 9 POINT DROP IN JUST  A MONTH AND COMPARES TO THE 116 LAST OCOTBER WHEN THE GROUPS STARTED COLLECTING DATA FOR THE BAROMETER. PURDUE ECONOMISTS SAY THE DELCINE IN PRODUCERS SENTIMENTS WAS  LARGELY DRIVEN BY PRODUCERS' THOUGHTS ON THE LONG-RUN HEALTH OF THE  U-S AG ECONOMY.

PRODUCERS PREPARING FOR BAD TIMES
ALSO TO NOTE, THE SHARE OF PRORDUCERS EXPECTING BAD TIMES  FINANCIALLY OVE RTHE  NEXT 12 MONTHS ROSE TO 79 PERCENT IN OCTOBER,  WHICH IS AN 11 POINT INNCREASE IN A MONTH.  THE KANSAS CITY FED, SAYS FARM LENDING AT COMMERCIALS BANKS FELL IN  THE THIRD QUARTER BUT IS STILL HIGH. THE VOLUME OF FARM LOANS STARTING IN Q3 FELL 19 PERCENT FROM A YEAR  AGO BUT REMAIN ELEVATED BY HISTORICAL STANDARDS. OPERATING LOANS CONTINUE TO MAKE UP A LARGE NUMBER OF REQUESTS-- COUNTING FOR 60 PERCENT OF ALL LOANS IN 2016. BANKS ALSO INCREASING THEIR USE OF FARM REAL ESTATE AS COLLATERAL FOR  THESE LOANS. A THIRD OF ALL OPERATING LOANS ARE NOW BEING BACK BY THE FARM

WOTUS DEFENSE EXTENDED
THE EPA AND THE U.S. ARMY CORPS OF ENGINEERS NOW HAVE AN EXTRA MONTH  TO FILE THEIR DEFENSE OF THE WATERS OF THE U.S. RULE, OR WOTUS.  THE SIXTH CIRCUIT COURT OF APPEALS EXTENDED THE DEADLINE TO FILE THE RESPONSE IN DEFENSE OF THE RULE TO JANUARY 18TH OF 2017.  THE JUSTICE DEPARTMENT ASKED FOR EXTRA TIME AFTER STATES, BUSINESSES,  AND OTHER MUNICIPAL GROUPS CHALLENGING THE RULE WERE GIVEN EXTRA  TIME TO FILE THEIR BRIEFS.  THE JUSTICE DEPARTMENT WILL FILE A CONSOLIDATED BRIEF ON BEHALF OF THE  EPA AND THE CORPS.

NYT ON GMO IMPACTS
A NEW YORK TIMES ARTCILE THIS WEEK CASTING DOUBT ON THE REAL IMPACT  OF GENETICALLY MODIFIED CROPS. THE ARTICLE TITLED "DOUBTS ABOUT THE PROMISED BOUNTY OF GENETICALLY  MODIFIED CROPS" CLAIMS THE BIOTECH DEBATE HAS MISSED A BASIC PROBLEM-- THAT GMO CROPS HAVE NOT ACCELEARTED YIELDS OR REDUCED THE USE OF  PESTICIDES IT'S SPARKED BLACKLASH FROM AG GROUPS LIKE ASA, SAYING THE NEW YORK  TMES ARTCILE SAYING FARMERS ARE PRACTICAL BUSINESSPEOPLE AND THEY  CHOOSE BIOTECHNOLOGY BECAUSE OF THE RETURN ON INVESTMENT. MONSANTO'S CHIEF TECHNOLOGY OFFICER ALSO CRITICIZED THE ARTICLE,  SAYING THE AUTHOR CHERRY PICKED HIS INFORMATION. 

TWO GMO POTATO VARIETIES APPROVED
POTATO PRODUCERS CAN NOW STORE THEIR POTATOES LONGER. THAT'S THANKS TO TWO NEW GENETICALLY MODIFIED POTATOES THAT HAVE  ENHANCED STORAGE CAPCITY, BUT ALSO REDUCED BRUSING AND BLACK SPOTS. THE TWO NEW POTATOE VARIETIES, RANGER RUSSET AND ATLANTIC, ARE J-R- SIMPLOT'S SECOND GENERATION INNATE POTATOES. USDA APPROVING THE TWO VARIEITIES THIS WEEK. BOTH MUST CLEAR BOTH F-D-A AND E-P-A, BUT THE COMPANY EXPECTS THSOE  APPROVALS IN JANUARY. 

LA NINA
ALL THE HYPE ABOUT LA NINA LAST WINTER AND SPRING, BUT NOTHING YET.  HOWEVER, USDA METEOROLGIST BRAD RIPPEY SAYS IT LOOKS LIKE LA NINA WILL  DEVELOP LATER THIS FALL AND INTO THE WINTER MONTHS.  AND YOU CAN LOOK AT THE WET WEATHER AND MILD DRY CONDITIONS TO  SUPPORT HIS CLAIM.  "WE'VE SEEN SO FAR IN OCTOBER AS MUCH AS FIVE TIMES THE NORMAL PREC. FO RHTE MONTH TO DATE.  THIS IS A HALLMARK OF A DEVELOPING LA NINA AS THAT WET WEATHER IN THE NORTHWEST.""WE'VE SEEN VERY WARM CONDITIONS STRETCHING THE SOUTH AND SOUTHERN PLAINS INTO THE  SOUTHEAST. WITH THAT COMES VERY DRY CONDITIONS UNFORTUNATELY," FOR THIS WINTER, HE'S EXPECTING A WARM, DRY FORECAST FOR THE  SOUTHERN U.S. STATES AND COLDER, WETTER FORECAST FOR THE NORTHERN  AREAS. HE SAYS IT MAY NOT BE BONE SHATTERING COLD, BUT DEFINITELY  COLDER THAN LAST YEAR. 

EWA PROMO
ALSO, CALLING ALL YOU LADIES OUT THERE, DON'T FORGET TO MARK YOUR  CALENDARS FOR EXECUTIVE WOMEN IN AGRICULTURE. IT'S DECEMBER 3RD AND  4TH AT THE PALMER HOUSE IN CHICAGO ILLIONIS. THE FOLKS AT TOP PRODUCERS  HAVE A GREAT LINE UP OF SPEAKERS, INCLUDING A LIVE U-S FARM REPORT  ROUNDTABLE TAPING FEATURING NAOMI BLOHM, ANGIE SETZER AND JULIANNE JOHNSTON. TO REGISTER, VISIT EXEC WOMEN IN AG DOT COM.  

WEATHER
THAT'S IT FOR NEWS...METEOROLOGIST MIKE HOFFMAN JOINS US NOW WITH A  LONGER RANGE LOOK AT WEATHER. MIKE, HOW'S NOVEMBER LOOKING?  THANKS TYNE WELL IT LOOKS LIKE A CHANGE IN WEATHER PATTERN WE'RE  PROBABLY GONNA START TO TURN COLDER IN THE EAST BUT BOY HAVE WE BEEN  WARM YOU CAN SEE OUR JET STREAM WITH A BIG RIDGE IN MOST OF THE EAST  EXCEPT FOR FAR EASTERN NEW ENGLAND WHERE IT'S A LITTLE BIT ON THE COLD  SIDE THEN EVEN SEE THE TROUGH MOVING THROUGH THE WESTERN STATES NOW  OUR MODEL IS NOW SHOWING THIS KIND OF CUTTING OFF IN THE SOUTHERN  PLAINS AND THAT'S WHY THAT STORM SYSTEM KIND OF SITS DOWN THERE FOR  AWHILE THERES WEDNESDAY THURSDAY ON IN THE FRIDAY WE GO AND IT'S  SHOWING THAT TROUGH DIGGING IN AND A ONE THING I WANT TO POINT OUT THE  ARCTIC AIR IS STILL BOTTLED UP UP HERE WHILE IT DOES FROM CALDER IS STILL  NO ARCTIC AIR YET MY THIRTY DAY OUTLOOK FOR TEMPERATURES DOES SHOW  BELOW NORMAL NOW FOR THE GREAT LAKES NORTHWARD IT WILL BE GENERALLY THE SECOND HALF OF THE MONTH OF NOVEMBER THOUGH ABOVE NORMAL FOR THE GULF COAST AND MOST OF THE WEST THIRTY DAY OUTLOOK  FOR PRECIPITATION BELOW NORMAL IN THE SOUTHEAST UNFORTUNATELY  BELOW NORMAL IN THE SOUTHWEST IN AN ABOVE NORMAL NORTHWEST AND  NORTHEAST WITH MOST OF THE MIDDLE OF THE COUNTRY PROBABLY PRETTY  CLOSE TO NORMAL TYNE.

FARM JOURNAL REPORT
THANKS, MIKE. THE EPA ANNOUCNING THIS WEEK A COMMENT PERIOD WHICH  COULD GIVE 19 ADDITIONAL STATES THE GREEN LIGHT TO USE ENLIST DUO  HERBICIDE ON CORN, COTTON AND SOYBEAN FARMS.   THE INITIAL HESISTANCY WAS OVER MIXING TWO MAIN COMPONENTS,  GLYPHOSATE AND 2-4-D. NOW FARMERS WONDER IF EPA'S APPROVAL OF  DICAMBA FOR IN SEASON USE  ON ROUNDUP READY 2 XTEND SOYBEANS, COULD BE RIGHT BEHIND IT... IN THIS  WEEK'S FARM JOURNAL REPORT, BETSY JIBBEN LOOKS INTO THE PRODUCT, THE  CONTROVERSY AND POSSIBLE OPPORTUNITY.  THIS ISN'T FRED POND'S FIRST HARVEST... BUT IT'S ONE OF THE FIRST YEARS HE'S CUTTING ROUNDUP READY 2XTEND  SOYBEANS.."WE HAVE A LOT OF 4 BEAN PODS OUT THERE. THEY'RE A GREAT YIELDING SOYBEAN," THE NORTHWEST OHIO FARMER AND SEED SALESMEN SAYS FARMERS ARE PAYING  ATTENTION.POND SAYS OVER HALF OF HIS NEAR YEAR'S EARLY SEASON SOYBEAN SALES ARE  GOING TO THE XTEND LINE.  OUR EARLY SEASON SALES ARE GOING REALLY WELL."MONSANTO DEBUTED XTEND SOYBEAN TECHNOLOGY IN 2016.  IT GAINED EU IMPORT APPROVAL BY MID-YEAR.  REPRESENTATIVES OF MONSANTO SAY THEY'RE PROJECTING OVER 15 MILLION ACRES OF THE 2 XTEND  SOYBEANS IN 2017.  BUT THE NEW TECHNOLOGY IN THE TOOLBOX HAS ITS CONTROVERSY:  FARMERS CAN PLANT THE SEEDS, BUT CANNOT SPRAY THE INTENDED  HERBICIDE.THE HERBICIDE IS NOT APPROVED BY EPA.  THE PUBLIC COMMENT PERIOD HAS CLOSED AND EPA IS REVIEWING THE COMMENTS RECEIVED ON THE  HERBICIDE PROPOSAL.YET, SOME FARMERS ILLEGALLY SPRAYED EARLIER THIS YEAR, WHICH DRIFTED  AND DESTROYED THOUSANDS OF ACRES OF CROPS.  40-THOUSAND ACRES IN MISSOURI ALONE BELIEVED TO BE FROM SPRAY. THE EPA IS ISSUING FEDERAL SEARCH WARRANTS IN AT LEAST FOUR MISSOURI  COUNTIES LOOKING FOR EVIDENCE OF MISUSE. IT'S ONE REASON WHY INDIANA FARMER, GEORGE KAKASULEFF IS COMMUNICATING  WITH HIS NEIGHBORS, EVEN THOUGH HE'S NOT SPRAYING. "YOU CAN'T ASSUME PEOPLE HAVE ROUNDUP ANYMORE. MOST OF THEM KNOW WE'VE HAD XTEND FOR  NOW FOR TWO SEASON. WE HAVE THAT DIALOGUE WITH NEIGHBORS AND TRY TO ALL KNOW WHAT  EACHOTHER HAS,"STATE OFFICIALS IN THOSE INVESTIGATIONS POINTING TO OLDER FORMULATIONS  OF DICAMBA, BEING SPRAYED OVER TOLERANT SOYBEANS, WHICH ARE MORE  VOLATILE AND PRONE TO DRIFT.  AMERICAN SOYBEAN ASSOCIATION'S RON MOORE PARTIALLY BLAMING EPA FOR  NOT APPROVING THE NEW FORMULATIONS OF DICAMBA LIKE THEY SAID THEY  WOULD."IF THEY HAD APPROVED THE PRODUCT FOR USE THIS SUMMER, WE WOULDNT' HAVE THE ISSUES WE  HAVE NOW."YET HE ANTICIPATES THE EPA APPROVALS FOR THE NEW FORUMULATIONS OF  DICAMBA NEXT YEAR. "THE NEW FORMULATIONS FOR DICAMBA WHICH COMES IN XTEND DOESN'T HAVE THE DRIFT POTENTIAL.  IT'S NOT AS VOLITAL AS THE OLD FORMULATIONS."THESE FARMERS SAY THE TECHNOLOGY IS CRUCIAL- ESPECIALLY WHEN IT  COMES TO WEED RESISTANCE..  "WE NEED ANOTHER TOOL IN THE CABNET WE CAN UTILIZE THAT HAS GOOD CONTROL ON WEEDS,"INDUSTRY SPECIALISTS AGREE - WEED RESISTANCE IS ONLY GROWING..  "THE ISSUE SURROUNDING HERBICIDE RESISTANCE IN WEED POPULATIONS, NOT ONLY IN ILLINOIS BUT THE  U.S. HAS INCREASED IN FREQUENCY DRAMATICALLY OVER THE LAST COUPLE OF YEARS,"HOWEVER, HAGAR BELIEVES THERE IS NO SINGLE TOOL USED TO REDUCE  WEEDS."PEOPLE THINK, WELL, WE CAN'T CONTROL IT WITH THIS, WE'RE GOING TO SWITCH OVER HERE AND ALL WE  DO THEN IS START THAT CYCLE OF SELECTION OVER AGAIN,"THE APPROVAL PROCESS MAY BE OUT OF THE PRODUCER'S CONTROL..  BUT FARMERS LIKE POND ARE HOPEFUL IT'S AN ADVANCEMENT IN THE FUTURE..  "THERE ARE A LOT OF NEW PRODUCTS OUT THERE. WE JUST NEED TO GET THEM OUT THERE AND PUT THEM  IN THE FARMER'S HANDS SO WE CAN USE THEM," REPORTING FOR U.S. FARM REPORT, I'M BETSY  THE DICAMBA CONTROVERSEY OVER HERBICIDE DRIFT IS CONTINUING TO  LINGER - EVEN BEING THE MOTIVATION FOR MURDER.  WE KNOW OF TWO  SHOOTINGS THIS YEAR OVER DRIFT INCLUDING ONE WE REPORTED ON LAST  WEEK THAT  RESULTED IN DEATH.  ASA STRONGLY REMINDES GROWERS TO  FOLLOW ALL CURRENT LABEL GUIDELINES.

TEASE
UP NEXT, JOHN PHIPPS.  OLD DOGS AND NEW TRICKS.U-S FARM REPORT BROUGHT TO YOU BY THE BX AND L SERIES COMPACT TRACTOR AVAILABLE NOW WITH A 6 YEAR POWER TRAIN WARRANTY.  LEARN MORE AT YOUR KUBOTA DEALER.

CUSTOMER SUPPORT
WELCOME BACK. IT'S TIME NOW FOR CUSTOMER SUPPORT. FOR THAT, LET'S  HEAD OVER TO ILLINOIS AND CHECK IN WITH JOHN FROM THE FARM. JOHN.  MY STORY ABOUT FIXING A WASHING MACHINE WITH THE HELP OF THE INTERNET PROMPTED THIS REPLY FROM GINGER CRUVER IN INDIO, CALIFORNIA “I HAVE HAD TO TAKE CHARGE OF ALL THINGS DOMESTIC DUE TO MY 89-YEAR-OLD HUSBAND'S ILLNESS AND WITH MY DAUGHTER'S ENCOURAGEMENT. I HAVE VENTURED TO YOUTUBE FOR VIDEO ANSWERS TO "HOW TO" DO THIS OR THAT. WHAT A FIND! AT LEAST IT GIVES ME A HEADS-UP ON WHAT MAY BE THE PROBLEM OR SOLUTION. AMEN TO GOOGLE, YOUTUBE, ETC.”THANKS FOR WRITING, GINGER, AND I’M GLAD YOU’RE DISCOVERING A SOURCE OF HELP. I HAVE THOUGHT MORE ABOUT THIS UNEXPECTED TREND AND YOU CAN READ MORE OF MY THOUGHTS IN AN UPCOMING ISSUE OF TOP PRODUCER IN PRINT OR ON AGWEB.COM. BASICALLY, I REALIZED WHAT IS HAPPENING IS THAT WE ARE ALL BECOMING LIBRARIANS IN A WAY – PEOPLE WHO DON’T NECESSARILY KNOW THE ANSWER TO A PROBLEM BUT KNOW WAYS TO FIND OUT THE ANSWER. BEST OF ALL OUR LIBRARY IS ESSENTIALLY LIMITLESS.BEING ABLE TO SEARCH EFFECTIVELY TAKES PRACTICE AND PATIENCE AT FIRST. PUTTING IN SEARCH TERMS OR JUDGING SEARCH RESULTS IS SOMETHING YOU GET BETTER WITH IN TIME. JAN AND I HAVE ALSO DEVELOPED THE HABIT OF CHECKING THE BIG BOX STORE INVENTORY FOR WHATEVER WE’RE LOOKING FOR BEFORE WE DRIVE 60 MILES. UNLESS OF COURSE, THE EXCURSION IS JUST AN EXCUSE TO EAT LUNCH OUT.I THINK GINGER OFFERS ANOTHER ENCOURAGEMENT – IT’S NEVER TOO LATE TO LEARN A NEW SKILL LIKE THIS. IN FACT, THAT MAY BE THE BEST PART – FINDING OUT WE OLD DOGS CAN STILL MASTER A NEW TRICK.THANKS, JOHN. AND IF YOU HAVE QUESTIONS OR COMMENTS, JUST SEND THOSE  TO US AT MAILBAG AT U-S FARM REPORT DOT COM.

TEASE
WHEN WE COME BACK, ANDREW MCCREA JOINS US AS WE TRAVEL DOWN THE  ROAD TO SEE A TRIBUTE TO THE PRESIDENTIAL HOPEFULS WHO NEVER WON THE  FINAL VOTE.  US FARM REPORT BROUGH TO YOU BY MYCOGEN SEEDS. VISIT ACRES OF  POSSINILITY DOT COM TO DISCOVER THE POTENTIAL OF MYCOGEN SEEDS

AMERICAN COUNTRYSIDE
THIS PRESIDENTIAL ELECTION HAS BEEN ONE FOR THE RECORD BOOKS. AND  THIS TUESDAY, THERE WILL ONLY BE ONE WINNER. SO WHAT EVER HAPPENS TO  THOSE CANDIDATES WHO BECOME SO CLOSE TO BEING NAMED THE NEXT  PRESIDENT OF THE UNITED STATES? THAT'S THIS WEEK'S AMERICAN  COUNTRYSIDE. EVERY FOUR YEARS PRESIDENTIAL CANDIDATES WILL CRISS  CROSS THIS NATION…TO BIG CITIES AND SMALL TOWNS TO TRY TO EARN  PEOPLES VOTES. BUT NO PRESIDENTIAL CANDIDATE WANTS TO SEE THEIR  HOPES END HERE… IN NORTON KANSAS. NORTON, KANSAS IS A TOWN OF JUST UNDER 3000 PEOPLE IN THE NORTHWEST  PART OF THE SUNFLOWER STATE.  IT'S HOME TO THE FIRST STATE BANK,  CHARTERED IN 1902.  BESIDES SERVING THE COMMUNITY'S BANKING NEEDS, THE CENTURY OLD BUSINESS ALSO HOUSES A VERY UNIQUE MUSEUM OF SORTS. THIS GALLERY WAS CREATED IN 1965 BY FORMER OWNER AND PRESIDENT BILL  ROUSE.  HE PUT IN 54 YEARS OF SERVE AT THE BANK AND HE HAD THIS IDEA  AFTER READING THE BOOK THEY ALSO RAN BY IRVING STONE :15)  :34  ON SCREEN: LEE ANN SHEARER, CURATOR, "THEY ALSO RAN GALLERY", NORTON,  KS THAT BOOK SHARED THE STORY OF THOSE WHO RAN FOR PRESIDENT AND WERE  DEFEATED.  ONE OF THOSE UNSUCCESSFUL CANDIDATES WAS HORACE  GREELEY, FOUNDER OF THE NEW YORK TRIBUNE, WHO LOST THE 1872 ELECTION  TO ULYSSES GRANT.  GREELEY ONCE PASSED THROUGH NORTON ON THE STAGE  COACH LINE AND THAT PERKED THE INTERESTED OF ROUSE, THE BANK  PRESIDENT. AND WHEN HE READ THE BOOK AND READ ABOUT HORACE GREELEY BEING ONE  OF THOSE WHO RAN FOR PRESIDENT, UPON FINISH THE BOOK HE BEGAN COLLECTING THE PORTRAITS FROM THE LIBRARY OF CONGRESS AND ITS BEEN  HERE FOR 51 YEARS.ROUSE CREATED THE GALLERY, NOT TO MOCK, BUT HONOR THOSE WHO'S  CONTRIBUTIONS MIGHT EASILY BE FORGOTTEN.  IN SOME CASES YOU'LL FIND  PICTURES OF THOSE WHO WERE PRESIDENT BUT WERE THEN DEFEATED IN A  REELECTION BID, AT LEAST ONE PICTURE FOR EVERY PRESIDENTIAL CONTEST IN  OUR NATION'S HISTORY.  MOST OF THE PICTURES ARE OF PEOPLE WHOSE  NAMES, WHILE NOT LOST TO HISTORY, ARE NOT WELL KNOWN. WE HAVE HENRY CLAY HE IS CALLED OUR CONSISTENT LOSER.  FOR 24 YEARS  HE VIED FOR THE OFFICE OR PRESIDENT.  HE CHANGED HIS POLITICAL  AFFILIATION THREE TIMES BUT WE ONLY HAVE ONE PICTURE OF HIM ON THE  WALL EVERY FOUR YEARS LEE ANN SHEARER PAYS SPECIAL ATTENTION TO THE  PRESIDENTIAL ELECTION.  THE OUTCOME OF THAT RACE DETERMINES THE  UPDATES SHE NEEDS TO MAKE TO THE GALLERY. WHEN WE FIND OUT ON ELECTION DAY WHO BECOMES OUR PRESIDENT I'M  GOING TO TAKE THE FIRST RUNNERS UP AND I NEED TO SECURE A 16 X 20 BLACK  AND WHITE PORTRAIT AND I ALSO NEED TO WRITE THE NEWEST BIOGRAPHY THERE'S NO CHARGE TO SEE THE GALLERY.  IT'S OPEN DURING BANKING HOURS  AND SEVERAL FOLKS DO FIND THEIR WAY TO WESTERN KANSAS TO SEE THE  ONLY SUCH PLACE OF ITS KIND (MY VISITORS ARE QUALITY VISITORS.  IF I DON'T HAVE THE QUANTITY THE  PEOPLE THAT COME HERE REALLY WANT TO BE HERE.  THEY DRIVE FROM ALL  OVER THE COUNTRY, AND EVERY FOUR YEARS ON INAUGURATION DAY, THE GALLERY WILL HOST ITS  OWN EVENT.(WE HAVE OUR OWN INAUGURATION.  SO ON JANUARY 20TH AT 10:30 OF THE  MORNING, WE'LL HAVE OUR INAUGURATION WE'LL READ THE NEWEST BIOGRAPHY  AND HAVE THE HANGING ON THE WALL WHILE THE NEW PRESIDENT WILL GET A PARADE DOWN PENNSYLVANIA AVE, THE  RUNNER-UP GETS THE SMALL CEREMONY IN NORTON, KS…ATTENDED BY 30 OR  SO FOLKS…BUT A PLACE, NONETHELESS, TO RECORD AND HONOR THEIR RUN  FOR THE WHITE HOUSE THAT CAME UP A LITTLE SHORT.  TO DATE, NO ONE  ENSHRINED HERE HAS EVER COME TO VISIT…ALTHOUGH LEE ANN HOPES THEY  VIEW IT AS AN HONOR TO BE INCLUDED HERE.   AS YOU LOOK AT THE WALL OF THIS GALLERY IT'S  INTERESTING TO THINK… WHAT IF DEWEY HAD IN FACT DEFEATED TRUMAN, OF IF  WENDELL L. WILLKIE OR ALF LANDON HAD BECOME PRESIDENT. ITS CALLED THE  ALSO RAN GALLERY BUT ITS IMPORTANT TO REMEMBER THEY ALSO GAVE MUCH  TO OUR COUNTRY, FOR THAT REASON IT'S GOOD TO COME AND VISIT. TRAVELING  THE COUNTRYSIDE IN NORTON KANSAS… I'M ANDREW MCCREA

TEASE
THANKS, ANDREW. YOU CAN HEAR MORE OF ANDREW'S STORIES BY VISIT  AMERICAN COUNTRYSIDE DOT COM OR DOWNLOAD THE FARM JOURNAL TV APP.  WHEN WE COME BACK, MACHINERY PETE HAS THIS WEEK'S TRACTOR TALES.

TRACTOR TALES
WELCOME BACK TO TRACTOR TALES FOLKS!  WE'VE GOT A CLASSIC DEERE FROM  SOUTHERN INDIANA TO SHARE WITH YOU TODAY. THIS '72 POWER SHIFT FROM  JOHN DEERE WAS QUITE THE WORKHORSE IN IT'S DAY.  ALAN HOSKINS HAS SOME  FOND MEMORIES OF A TRACTOR JUST LIKE THIS ONE FROM HIS YOUTH….AND HE  HOPES TO KEEP THIS CLASSIC AROUND FOR A LONG TIME.  WE HAVE BEHIND US A  NIGHTEEN SEVENTY TWO JOHN DEERE FORTY TWENTY POWER SHIFT. IN THE  FINAL PRODUCTION CYCLE OF THE SEVENTY TWO FORTY TWENTIES TRACTOR  WAS MANUFACTURED ABOUT HALFWAY THROUGH THE CYCLE AND IT WAS  SHIPPED TO ALBANY GEORGIA ON FEBRUARY THIRD IN NINETEEN SEVENTY TWO I HAD BEEN LOOKING FOR PARTICULARLY IN NINETEEN SEVENTY TWO POUR SHIFT  FOR ABOUT FIVE TO SEVEN YEARS THE MARKET HEAD BE A VERY VERY  GENEROUS TO THOSE TRACTORS WHEN YOU LOOK AT WHAT THEY WERE  BRINGING AND I FOUND THE TRACTOR AT POLK AUCTION COMPANY IN NEW PARIS INDIANA IT WAS THE CONDITION THAT YOU SEE IS WE LOOK AT IT HOWEVER  AFTER I BOUGHT THE TRACTOR AND  I WENT OUT TO GET IT LOADED ON THE SIDE  OF THE TRACTOR WAS ON A WALL HANGING THEIR HEAD RECEIPTS FOR  APPROXIMATELY TWENTY SEVEN THOUSAND DOLLARS WORTH OF WORK THAT  HAD BEEN DONE ON THE TRACTOR THE TRANSMISSION THE ENGINE ON THE  PUMP THAT I WAS AWARE OF WHEN I BOUGHT THE TRACK EVEN WITH THE  CONDITION THAT AND MY INTENTION IS THAT IT WILL GO A COMPLETE NUT AND  BOLT FULL RESTORATION AND ABOUT EIGHTEEN MONTHS I WANT TO DRIVE THE  TRACTOR WILL BE YEARS AND MAKE SURE THERE ARE NO OTHER ISSUES  REMAINING I DO HAVE WIGHTS THAT ARE TO BE ADDED TO THE FRONT AND THE  REAR WHEELSDO HAVE AN ORIGINAL QUICK HITCH TO BE ADDED SO WHEN I GET  FINISHED IT WILL HAVE A FULL COMPLETE NUT AND BOLT RESTORATION. THE  FORTY TWENTY HAS ALWAYS BEEN A TRACTOR NEAR AND DEAR TO MY HEART  SYMPLY BECAUSEIT WAS FOR JOHN DEERE TRACTOR THAT I EVER DROVE WHEN I  WAS ABOUT 8 YEARS OLD

COUNTRY CHURCH SALUTE
TODAY'S COUNTRY CHURCH SALUTE GOES TO SAINT JOHN THE BAPTIST  CATHOLIC CHURCH IN PEPLIN, WISCONSIN, CELEBRATING THEIR 100TH ANNIVERSARY. TRAGEDY STRUCK THIS CHURCH WHEN A FIRE CAUSED THE  CURCH TO BURN TO THE GROUND AFTER THE CHRISTMAS EVE SERVICE IN 1937. A  NEW CHURCH WAS BUILT IN 1938 AND IT STILL STANDS TODAY. OUR THANKS TO  MATTHEW AND CHRISTINE FUDURICH FOR SHARING THEIR STORY.  AS ALWAYS WE WANT TO LEARN ABOUT YOUR HOME CHURCH AS WELL...  SALUTES CAN BE SENT TO THE ADDRESS ON THE SCREEN.  STAY WITH US - FROM THE FARM PHOTOS ARE NEXT.

FROM THE FARM
WELCOME BACK. MANY OF YOU KNOW ANDREW MCCREA FROM OUR PROGRAM,  BUT HIS FULL-TIME JOB IS HIS FAMILY FARM. ANDREW FARMS JUST NORTH OF  KANSSA CITY. EH SAYS THEY FINISHED HARVEST SOYBEANS THIS WEEK AND WILL  WRAP UP WITH CORN THIS WEEKEND. HE SAYS BOTH THE CORN AND SOYBEAN  CROP WERE REALLY GOOD IN HIS AREAS—ONE OF HIS BEST CROPS, BUT IT  DOESN'T TOP THE AMAZING YIELDS HE SAW IN 2014. THEY GROW CORN IN 15 INCH  ROWS, WHICH IS KIND OF UNIQUE. YOU CAN EVEN SEE ANDREW'S SON WHO  HELPS OUT ON THE FARM. AND OUR FRIEND KENNY SAYS EVEN AFTER YOU'VE BEEN HARVEST FOR 12  HOURS STRAIGHT IN NEBRASKA, IT'S THE SIMPLE THINGS IN LIFE THAT KEEP YOU  GOING. WHAT A GREAT SHOT.  AS ALWAYS, WE WANT TO HEAR FROM YOU, SEND COMMENTS TO MAILBAG-AT-U- S-FARM-REPORT-DOT-COM OR CHECK US OUT ON FACEBOOK AND TWITTER.

CLOSE
FOR JOHN, ANDREW 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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