USFR Weekly Recap - November 8-9, 2014, 2014, 2014, 2014

November 8, 2014 03:30 AM
 

TODAY ON USFR
NOVEMBER 8-9, 2014

HEADLINES:
WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN, AND HERE'S WHAT WE'RE WORKING ON FOR YOU THIS WEEKEND. IN OUR FARM JOURNAL REPORT, ETHANOL CONSUMPTION…WE NEED TO SPEND LESS MONEY ON SOLICITING THESE GUYS FOR AN RFS MANDATE, I'M A FREE MARKET GUY, AND LET'S SEE WHAT WE CAN DO ON ETHANOL EXPORTS." WE'LL EXPLAIN WHY IT'S EXPORTS THAT COULD FUEL NEEDED DEMAND. A SOFT LANDING OR HARD FALL OUR MARKETING ROUNDTABLES ARE ALL ABOUT THE PRICE OF LAND WE WON'T SEE A CASS RENTAL RATES ADJUST ENOUGH LAND AND INTEREST RATES. THIS IS A CONVERSATION THAT COULD LAST FOR DAYS, AND TRADING IN CRAZY CITY LIVING FOR LIFE ON THE FARM.
HARVEST:
U-S HARVEST IS GAINING MAJOR GROUND, THANKS TO NICE WEATHER. AS OF LAST SUNDAY, 65 PERCENT OF THE COUNTRY'S CORN WAS HARVESTED, A 19 POINT JUMP IN JUST A WEEK.
SOYBEAN HARVEST IS IN EVEN BETTER SHAPE. 83 PERCENT IS NOW HARVESTED, RIGHT ON TRACK WITH THE FIVE-YEAR AVERAGE.STATES LIKE KENTUCKY, IMISSOURI AND MICHIGAN ARE ALL STILL BEHIND THE FIVE YEAR AVERAGE.
COTTON:
HALF OF THE COUNTRY'S COTTON CROP IS OUT OF THE FIELD, ON PACE WITH AVERAGE.
THE GROWING SEASON WAS BETTER IN COTTON GROWING REGIONS, LIKE THE SOUTHERN PLAINS, THIS YEAR. BUT NOT PERFECT.  USDA IS CALLING FOR 20 THOUSAND ACRES OF COTTON ABANDONMENT IN OKLAHOMA. USDA'S OUTLOOK FOR THE OVERALL STATE YIELD IS MUCH BETTER.
CHINA:
CHINA IS INCREASING RESERVES OF OTHER COMMODITIES, AS WELL, SPURRING A SPIKE IN PRICES OF GOODS. THIS INCLUDES COTTON, GRAINS AND MEATS.THE GOVERNMENT SAID IT DID SO TO PROTECT ITS RURAL POPULATION, AND NOW CHINESE AUTHORITIES ARE CRACKING DOWN ON AGRICULTURAL SMUGGLING CHINA'S GOVERNMENT REPORTS ITS UNCOVERED 487 CASES OF SMUGGLING WITH A PRICE TAG OF MORE THAN 1 BILLION DOLLARS. THAT'S A 70 PERCENT SPIKE IN THE PAST YEAR ALONE.
AG EXPORTS:
DESPITE CHINA BACKING AWAY FROM CERTAIN U-S AG EXPORTS, SHIPMENTS STILL SET A NEW RECORD IN 2014. THE U-S-D-A SAYS FOR THE FISCAL YEAR 2014, AGRICULTURAL EXPORTS JUMPED TO 152 POINT 5 BILLION DOLLARS. THAT BEATS THE PREVIOUS RECORD, WHICH WAS SET LAST YEAR, AT 141 BILLION DOLLARS. AG SECRETARY TOM VILSACK SAYS THE TOTAL VALUE IS UP MORE THAN 40 PERCENT OVER THE PAST FIVE YEARS.
US DOLLAR:
FOLLOWING THIS WEEK'S ELECTION, THE U-S DOLLAR ROSE TO MULTI-YEAR HIGHS.THAT'S AFTER IT WAS COFIRMED REPUBLICANS WILL TAKE CONTROL OF BOTH CHAMBERS FOR THE FIRST TIME SINCE 2006. WITH LESS POLITICAL GRIDLOCK, ANALYSTS ARE BANKING ON THE ECONOMY TO RECOVER.
PITCH TO MIKE:
THAT'S IT FOR NEWS. MIKE, WE HEARD ABOUT A LOT OF FARMERS HAVING TO HALT HARVEST FOR A FEW DAYS DUE TO RAIN. WHAT'S ON TAP THIS WEEK?
TEASE ONE:
THANKS MIKE. WE USUALLY TALK COMMODITIES NEXT UP ON THE SHOW. BUT THIS WEEK, IT'S ALL ABOUT LAND.  WE HAVE MIKE WALSTEN AND JIM MINTERT JOINING ME RIGHT HERE AT THE AGRIBUSINESS DESK AFTER THE BREAK.
HEADLINES:
WELCOME BACK TO U-S FARM REPORT. WE STILL HAVE MUCH MORE AHEAD THIS WEEKEND…OUR FARM JOURNAL REPORT FOCUSES ON ETHANOL AND WHY IT MAY NOT BE THE U-S DRIVING DEMAND. FROM THE CITY TO THE COUNTRY…WE HAVE A SPECIAL REPORT ON A FAMILY WHO CHOSE PEACEFUL LIVING OVER THE HECTIC CITY LIFE. IN CUSTOMER SUPPORT, JOHN PHIPPS ANSWERS A VIEWER'S QUESTION ABOUT TRADING WITH AN ENEMY. AND IN TRACTOR TALES, A UNIQUE DESIGN THAT ISN'T AS USEFUL TODAY. U.S. FARM REPORT BROUGHT TO YOU BY THE ALL-NEW CHEVY SILVERADO. 2014 NORTH AMERICAN TRUCK OF THE YEAR…
GMO LABELING:
ANOTHER HOT ISSUE ON BALLOTS…THE BATTLE OVER GMO LABELING…INITIATIVES IN COLORADO AND OREGON CALLED FOR THE LABELING OF PRODUCTS CONTAINING GENTICALLY MODIFIED ORGANISMS.BUT VOTERS IN BOTH STATES SHOT IT DOWN.
 IT WAS AN EXTREMELY CLOSE VOTE IN OERGON, WITH JUST OVER 50 PERCENT OPPOSING THE LABELING LAW. THE OTUCOME ISN'T OFFICIAL, AS NEITHER SIDE AS CONCEDED.
 BY THE WAY, THAT OREGON MESAURE WAS THE MOST EXPENSIVE IN OREGON HISTORY.

MAUI GMO:
AND IN HAWAII, IT WASN'T GOOD NEWS FOR TWO MAJOR SEED COMPANIES. BY A VERY NARROW MARGIN, VOTERS DECIDED TO TEMPORARILY BAN THE GROWTH OF GENETICALLY ENGINEERED CROPS IN MAUI COUNTY.THAT INCLUDES BOTH THE ISLANDS OF MAUI AND MOLAKA'I. MONSANTO AND DOW HAVE RESEARCH AND SEED PRODUCTION SITES ON THE ISLANDS. WE REACHED OUT TO MONSANTO. THEY SAY THE ACTION IS LEGALLY FLAWED AND CAN'T BE ENFORCED. SO, THIS ISSUE ISN'T OVER, AS THE COMPANIES PLAN TO LEGALLY FIGHT THE NEW LAW.
WTO CANADA:
THE BATTLE OF MANDATORY COUNTRY OF ORIGIN LABELING ISN'T OVER.  BUT CANADA IS CLOSER TO ENFORCING RETALIATORY TARIFFS. ACCORDING TO REUTERS, CANADA WILL PURSUE QUOTE, ANY AND ALL REMEDIES, END QUOTE, TO PRESSURE THE U-S TO DROP MEAT LABELING MEASURES. CANADA CONSIDERS COOL DISCRIMANIATRY TOWARDS CANADIAN MEAT PRODUCTS. CANADA'S INTERNATIONAL TRADE MINISTER ED FAST DIDN'T COMMNET ON A DEADLINE FOR RETALIATIONS.
ADM CEO:
THERE ARE ONLY A FEW FEMALES WHO HOLD THE TITLE OF CEO FOR AGRICULTURE COMPANIES. AND THIS WEEK IT WAS ANNOUNCED THERE IS NOW ONE LESS.
ARCHER DANIELS MIDLAND SAYS PATRICIA WOERTZE WILL BE REPLACED BY JUAN LUCIANO.
WOERTZ WILL CONTINUE IN TEH ROLE OF ADM'S BOARD CHAIRMAN, BUT IS EXPECTED TO RETIRE IN 2016.
MERCK:
FOR CATTLE PRODUCERS WANTING TO RESUME THE USE OF ZILMAX, THERE'S GOOD NEWS. THE DRUG MAKER MERCK AND COMPANY SSAYS ITS TAKING STEPS TO BRING IT BACK TO TEH MARKET.THE CONTREVERSIAL FEED ADDITIVE WAS SUSPENDED LAST YEAR, AFTER CONCERNS SPARKED OVER ANIMALS SHOWING SIGNS OF DISTRESS FROM THE DRUG.
 MERCK SAYS AFTER AN EXTENSIVE EVALUATION, IT WILL CHANGE THE WAY THE DRUG IS ADMINSTERED TO ANIMALS.THE F-D-A ALSO APPROVEMENT A NEW DRUG LABEL, ALLOWING VETERNARIANS AND FEEDLOT OWNERS TO USE A LOWER DOSE.    
SUGAR BEETS:
SUGAR BEET HARVEST IS STARTING TO WIND-DOWN IN MICHIGAN AND FARMERS ARE SEEING SOME VERY BIG YIELDS. SUGARBEETS AND CANE ARE SPLIT ABOUT 50-50 ON U-S SUGAR PRODUCTION. MOST SUGAR BEET FARMERS IN THAT STATE ARE MEMBERS OF THE MICHIGAN SUGAR CO-OP. THEY'LL HARVEST ABOUT 160-THOUSAND ACRES THIS FALL. GROWING CONDITIONS WERE NEARLY IDEAL FOR MIKE MCCORMACK.
FARM JOURNAL REPORT:
SUGAR BEET HARVEST IS STARTING TO WIND-DOWN IN MICHIGAN AND FARMERS ARE SEEING SOME VERY BIG YIELDS. SUGARBEETS AND CANE ARE SPLIT ABOUT 50-50 ON U-S SUGAR PRODUCTION. MOST SUGAR BEET FARMERS IN THAT STATE ARE MEMBERS OF THE MICHIGAN SUGAR CO-OP. THEY'LL HARVEST ABOUT 160-THOUSAND ACRES THIS FALL. GROWING CONDITIONS WERE NEARLY IDEAL FOR MIKE MCCORMACK.
FARM JOURNAL REPORT TAG:
SUGAR BEET HARVEST IS STARTING TO WIND-DOWN IN MICHIGAN AND FARMERS ARE SEEING SOME VERY BIG YIELDS. SUGARBEETS AND CANE ARE SPLIT ABOUT 50-50 ON U-S SUGAR PRODUCTION. MOST SUGAR BEET FARMERS IN THAT STATE IS MEMBERS OF THE MICHIGAN SUGAR CO-OP. THEY'LL HARVEST ABOUT 160-THOUSAND ACRES THIS FALL. GROWING CONDITIONS WERE NEARLY IDEAL FOR MIKE MCCORMACK.
TEASE:
THANKS, JOHN. DON'T FORGET, JOHN WANTS TO HEAR FROM YOU. SEND QUESTIONS AND COMMENT TO US FARM REPORT AT MAILBAG DOT COM.STILL TO COME; WE'LL TAKE YOU TO AN INDIANA FARM WHERE NEW ROOTS GIVE ONE COUPLE A FRESH PERSPECTIVE ON LIFE.
TRACTOR TALES:
SO AL, I UNDERSTAND WE'RE GETTING A LESSON IN CULTI-VISION FROM OUR NEXT COLLECTOR? THAT'S RIGHT TYNE. THE OWNER OF THIS WEEK'S TRACTOR EXPLAINS WHAT THIS MEANT FOR FARMERS IN THE 40'S.
CHURCH SALUTE:
TODAY'S COUNTRY CHURCH SALUTE GOES TO THE WEST PRAIRIE LUTHERN CHURCH IN LELAND, IOWA. ORGANIZED IN 1889, THE CONGREGATION IS CELEBRATING 125 YEARS THIS WEEKEND. THE CHURCH HAS NORWEGIAN ROOTS, ORIGINALLY CALLED THE WEST PRAIRIIE NORWEGIAN UNITED EVANGELICAL LUTHERAN CONGREGATION. THOSE SERVICES WERE EVEN GIVEN ENTIRELY IN NORWEGIAN. THEN, IN 1927, THEY TRANSITIONED TO ALL ENGLISH. OUR THANKS TO DEANN AMBROSON WHO SAYS THE CONGREGATION IS STILL GOING STRONG TODAY.

 

 

 

 

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