USFR Weekly Recap - November 26-27, 2016

June 20, 2015 03:30 AM
 
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TODAY ON U.S. FARM REPORT
NOVEMBER 26-27, 2016


HEADLINES
WELCOME TO THIS SPECIAL EDITION OF U.S. FARM  REPORT. I'M TYNE MORGAN, AND HERE'S WHAT WE'RE  WORKING ON FOR YOU THIS HOLIDAY WEEKEND.  THE STOCK MARKET RACES TO NEW HIGHS. HOW LONG  CAN IT LAST? I PERSONALLY BELIEVE I THINK IT'S EXHASTING ISTSELF  PRESIDENT TRUMP CONTINUES HIS HARD STANCE ON  TRADE... <ON TRADE, I'M GOING TO ISSUE A NOTIFICATION OF INTENT TO WITHDRAWL  FROM THE TRANS PACIFIC PARNERSHIP> WHAT ELSE COULD BE IN STORE AFTER INAGURATION?  IT'S OUR ANNUAL HARVEST OF THANKS SPECIAL... AS  SOME FARMERS BATTLED THE BACKLASH OF MOTHER  NATURE, RESILLENCE REIGNS WITH OTHERS BRING IN A  BUMPER CROP IF THE REST OF THE CROP IS AS GOOD AS WHAT WE'VE ALREADY HARVESTED, IT WILL BE A RECORD CROP ON  OUR FARM AND IN JOHN'S WORLD... "THANKSGIVING IS OVER. IT'S LED SEASON"  <U.S. FARM REPORT - BROUGHT TO YOU BY THE DEPENDABLE, LONG  LASTING, CHEVY SILVERADO.>

TRUMP TARGETING TPP
NOW FOR THE NEWS THAT MOVED THE MARKETS THIS  WEEK, THE DOW , NASDAQ AND S&P 500 HITTING NEW  HIGHS THIS WEEK, AN ENCORE TO  AN IMPRESSIVE  PERFORMANCE THE WEEK PRIOR.  THE STOCK MARKET KICKING THE WEEK OFF WITH A  BANG AS THE S AND P CLIMBED TO ALL TIME HIGHS  MONDAY. THAT MARKS THE FIRST REORD CLOSE SINCE  AUGUST.  THE RALLY FUELED BY OPTIMISM OVER WHAT A TRUMP  ADMINISTRATION WILL MEAN FOR FISCAL POLICY,  WHICH COULD REVERSE PRESIDENT OBAMA'S PLAN OF  RAISING TAXES AND INCREASING REGULATION.  PRESIDENT ELECT DONALD TRUMP CONTINUING HIS  HARD STANCE ON TRADE.  HE WASTED NO TIME IN PUTTING TOGEHTER A PLAN  THAT HE SAYS IS BASED ON ONE SIMPLE CORE  PRINCIPLE...PUTTING AMERICA FIRST IN A VIDEO STATEMENT THIS WEEK, TRUMP SAYS FROM  DAY ONE, HE'LL IMMEDIATELY ISSUE EXECUTIVE  ACTIONS TO, QUOTE, RESTORE LAWS AND BRING BACK  JOBS, END QUOTE. AND NUMBER ONE ON THAT LIST?  TRADE.  <ON TRADE, I'M GOING TO ISSUE A NOTIFICATION OF INTENT TO WITHDRAWL  FROM THE TRANS PACIFIC PARNERSHIP A POTENTIAL DISASTER FOR OUR  COUTNRY. INSTEAD WE WILL NEGOTATE FAIR, BILATERAL TRADE DEALS THAT  BRINGS JOBS AND INDUSTRY BACK ON AMERICAN SHORES. >  OTHER COUNTRIES INVOLVED IN THE TRADE PACT ARE  VOWING THEIR COMMITTMENT TO SEE THE DEAL  THROUGH. 6 COUNTRIES INCLUDING JAPAN, AUSTRAILIA NEW  ZEALAND ALL EXPRESSING  SUPPORT OF THE PACT THIS  WEEK.  AUSTRALIA'S TRADE MINISTER SAYING THIS WEEK  THEY'LL PRESS AHEAD WITH DOMESTIC PROCESSES ON  A DEAL THAT PROVIDES GOOD MARKET ACCESS FOR  AUNSTRALIAN EXPORTS.  IN ORDER FOR THE DEAL TO SURIVIVE, IT REQUIRES  RATIFICTION OF AT LEAST 6 COUNTRIES ACCOUTNING  FOR 85 PERCENT OF THE COMBINED G-D-P OF THE  MEMBER NATIONS. SINGAPORE'S PRIME MINISTER ADMITTING THAT  REOPENING NEGOTIATIONS WON'T BE EASY, AS A NEW  AGREEMENT WILL COME WITH NEW ROUNDS OF NEGATOTIATIONS. 

BULLISH DOLLAR
THE DOLLAR PULLING BACK FROM ITS BULLISH RUN  EARLIER THIS WEEK. THAT BROKE A 10 DAY WINNING  STREAK, WHCH IS THE LONGEST IN NEARLY 3 YEARS. THAT HELPED SOYBEANS RALLY MORE THAN 26 CENTS  ON MONDAY, MARCH CONTRACT REACHING A 4 MONTH  HIGH TUESDAY.  MEANWHILE THE LATEST CATTLE ON FEED REPORT  SHOWING A ONE PERCENT DROP AT THE NATION'S  LARGEST FEEDLOTS FROM A YEAR AGO.  THE  INVENTORY SITS AT TEN-POINT-SEVEN MILLION HEAD.  PLACEMENTS DROPPED FIVE PERCENT FROM OCTOBER  2015, NOW SITTING AT TWO-POINT-ONE MILLION HEAD. MARKETINGS OF FED CATTLE SHOOTING UP 5 PERCENT,  NOW AT ONE-POINT-SEVEN MILLION 

WEATHER
<U-S FARM REPORT WEATHER BROUGHT TO YOU BY  ILEVO SEED TREATMENT BY BAYER> THOSE ARE THE HEADLINES...METEOROLOGIST MIKE  HOFFMAN JOINS US NOW WITH WEATHER. WITH THE  WEAK LA NINA, HOW'S YOUR 90 DAY FORECAST SHAPING  UP?  THAT'S RIGHT TYNE WERE TAKE US THROUGH THE WINTER BASICALLY OVER  THE NEXT NINETY DAYS WAS STARTING OFF A LOWER STARTING TO SEE IS A FUN ATMOSPHERE IN FLUXS WERE STARTING TO GO INTO A MORE WINTRY  WEATHER PATTERN BUT IS NOT GOING TO STICK ANY TIME SOON THE JET  STREAM AGAIN SAYING THINGS JUST KIND OF MOVING FROM WEST TO EAST  AS WE HEAD THROUGH THIS WEEK OF A BIG STORM SYSTEM THERE OVER THE MIDDLE OF THE COUNTRY AND  THAT'S GOING TO BE PRODUCING A LOT OF RAIN AND SNOW ESPECIALLY  FARTHER NORTH OBVIOUSLY ON THE SNOW PART STILL A GOOD TROUGH BY  THE MIDDLE OF THE WEEK IN AND AS WE HEAD THROUGH THE WEEK  ANOTHER ONE DIGGING IN AND OUT WEST TO LEAVE SOME SHOTS OF  COLDER AIR I DON'T SEE ANY TRUE ARCTIC AIR COMING IN QUITE YET BUT NONE THE  LESS WINTER STARTING TO COME ON IN PARTS OF THE COUNTRY THERE'S A A  DECEMBER OUTLOOK FOR TEMPERATURES ON GOING BELOW NORMAL FOR  THE NORTHERN PLAINS MUCH OF MONTANA AND SOUTHEASTWARD INTO  THE CENTRAL MISSISSIPPI VALLEY AND INTO THE OHIO VALLEY ABOVE  NORMAL FOR THE FAR NORTHEASTERN EASTERN CANADA AND THE FAR SOUTHERN STATES ESPECIALLY INTO THE SOUTHWEST ABOVE  NORMAL TEMPERATURES ARE EXPECTED THEN WE'D GET IN ALL MORE  GENERAL COOL DOWN IN THE GREAT LAKES AND NORTHEAST I THINK THAT  FOR WINTER REALLY STARTS TO HIT IN JANUARY AND AGAIN THE PLANE STATE  YOU'LL GO BACK IN FORTH HERE WILL BE BELOW NORMAL WITH VERY COLD  SHOTS AT TIMES AND OTHER TIMES NOT SO MUCH ABOVE NORMAL THEN FOR THE SOUTHWEST IN MANY PARTS OF THE WEST  AND I DON'T REALLY CHANGE THAT A WHOLE LOT ON IN THE FEBRUARY  BELOW NORMAL FOR MUCH OF THE MIDWEST OHIO VALLEY GREAT LAKES ABOVE NORMAL THEN IN THE A SOUTHWEST AS FAR AS PRECIPITATION  ABOVE NORMAL GREAT LAKES IN THE NORTHEAST THE NORTHWEST AND  NORTHERN ROCKIES BELOW NORMAL THROUGH MUCH OF THE SOUTHERN TIER OF STATES TYNE

TEASE
THANKS, MIKE. STOCK MARKET REACHING ALL TIME HIGHS, A NICE RUN IN THE SOYBEAN MARKET. IS THIS A  TAHNKSGIVING GIFT? WE'LL DISCUSS NEXT WITH JOHN  PAYNE AND DAN HUEBER. 

ROUNDTABLE 1
WELCOME BACK THIS THANKSGIVING A WEEKEND HERE ON U S FARM  REPORT. OUR MARKET ROUNDTABLE WITH JOHN PAYNE OF DANIELS TRADING  AND DAN HUEBERT OF THE HUBERT REPORT. WHAT A CRAZY WEEK AGAIN  WHEN WE LOOK AT THE STOCK MARKET ON MONDAY HITTING NEW ALL TIME  HIGHS, IS IT STILL THE POST TRUMP ELECTION THAT'S DRIVING THE STOCK  MARKET RIGHT NOW JOHN? CERTAINLY LOOK AT THE WAY THE PRICE OF CHANGE SINCE THE NIGHT OF  NOVEMBER NINTH OR AS SOON AS ELECTION ENDED AND WE SAW MAJOR  MOVEMENT IN THE BOND MARKETS. I THINK THAT'S WHERE YOU HAVE TO  START IT. ESSENTIALLY LOOK IT IS LIKE A NEW GAME. THE GAME IS  ESSENTIALLY STARTED FROM THAT POINT. WE'VE SEEN SOME FOLLOW  THROUGH. NOW I THINK IT PROBABLY LOOKS TO FOLLOW THROUGH THE  ELECTION AT THAT POINT, THE KIND OF HONEYMOON PERIOD WOULD END FOR MISTER  TRUMP AND THEN WE'LL LOOK AT THE POLICIES HE'LL SET AND HOW THE  MARKET WILL REACT TO IT. BUT SHORTER TERM HERE WILL HAVE THE BOND  MARKETS FIRST AND FOREMOST. THEY'RE TELLING US THAT THINGS ARE  DIFFERENT RIGHT NOW. SO YOU HAVE TO EXPECT THE COMMODITY  MARKETS WILL CHANGE  IN THAT FACT. WHAT DO THE BOND MARKETS EXPECT TO HAPPEN WITH  THIS FEDERAL RESERVE WITH A POSSIBLE RATE HIKE IS THAT PRETTY MUCH EXPECTED AT THIS POINT? I BELIEVE SO. YOU KNOW WE REALLY THINK THE BOND MARKET HEADED  LOWER FOR THE LAST COUPLE MONTHS NOW. SO THEY VERY MUCH HAVE  BEEN SETTING THE STAGE FOR THE FED TO KICK UP A RAID HERE IN  DECEMBER. I DON'T REALLY THINK ANYBODY THOUGHT THEY WERE GOING  TO HAVE A PRE ELECTION BUT NOW THAT WE'RE BEYOND THE ELECTION, THERE COULD  BE NO ACCUSATIONS THAT IT WAS TRYING TO FAVOR ONE CANDIDATE OVER  ANOTHER. SO I THINK IN DECEMBER THE THE ODDS ARE QUITE HIGH THAT NEXT TWENTY FIVE POINT BASIS POINT  BUMP, WHICH IS REALISTICALLY NOT VERY MUCH BUT IT HASN'T CHANGED  NONETHELESS. SO IN THE MARKETS TEND TO TRY TO ANTICIPATE THOSE  KIND OF CHANGES. AT THE SAME TIME, U S DOLLAR WE HAD SEEN A PRETTY GOOD RUN ON  THE U S DOLLAR I THINK THE LONGEST BULLISH RUN IN THREE YEARS.   WHERE DO WE SIT ON THE DOLLAR INDEX? WE SAW IT DROPPED A LITTLE  BIT. WHAT HAPPENED? WHAT STOPPED  ? WELL HAVE A COUPLE OF THINGS. I'LL FIRST START SAY THE DOLLAR INDEX  IS ESSENTIALLY A BASKET OF CURRENCIES WITH THE YEN, THE EURO, AND  BRITISH POUND. SO WHEN THOSE CURRENCIES ARE OPERATING IN THE SAME POLICIES THAT THE U S GOVERNMENT IS,  WEAK RATES, YOU HAVE THE DOLLAR WHICH LOOKS LIKE IT'S DIVERTING HERE. IT'S  GOING TO SHOW THAT SPIKE. BUT WE LOOK AT THE MARKETS AND FOR THE  DOLLAR VERSUS SAY THE RUSSIAN RUBLE OR EVEN THE BRAZILIAN RIATHE LAST YEAR. SO WE LOOK FOR A LITTLE BIT OF VOLATILITY HERE IS THAT THE  PRESIDENT TAKES OVER BUT THOSE CURRENCIES RALLY COULD BE  BENEFICIAL FOR THE COMMODITY MARKETS. THE U.S. DOLLAR INDEX RALLYING, YOU WOULD SAY COUNTER INTUITIVELY THAT WOULD BE  BAD FOR COMMODITIES, BUT WHEN YOU SEE THE OTHER MARKETS  RALLYING THAT COULD BE A GOOD THING LONG TERM. THEN DO YOU THINK  THE DOLLAR HAS MORE ROOM TO THE UPSIDE?  IPERSONALLY BELIEVE IT'S PROBABLY EXHAUSTING ITSELF WITH THE  CURRENT MOVE WE'VE SEEN. I THINK IT WAS ALREADY KIND OF ON PINS  AND NEEDLES COMING INTO THE ELECTION. MARKETS AGAIN DON'T ENJOY  SHOCK, THEY RECEIVED A KIND OF A SHOCK. OF COURSE THE DAY OF OR  THE EVENING OF THE ELECTION, JUST A HUGE VOLATILITY IN THE FIRST  SWUNG LOWER THEN SWUNG BACK HIGHER. BUT I THINK NOW WE'VE HAD THIS KIND OF TRUMP-FLATION IDEA, BUT IT'S  ALL SELF PERPETUATING. HERE WE HAVE THE IDEA THAT WE'RE GOING TO  SEE INTEREST RATE HIKES, POSSIBLY BECAUSE THE DROP ADMINISTRATION  MAY BE A LITTLE MORE POSITIVE TOWARDS THE GDP GROWTH. WHICH COURSE MEANS WE'RE GOING TO TRY TO PUSH INTEREST RATES  HIGHER, WHICH IN TURN MEAN COULD IT TRACK MORE BUYERS INTO THE  DOLLAR. IT WOULD REALLY SEEM LIKE WE HAVE PUT THE CART WAY AHEAD  OF THE HORSE AT THIS POINT TIME. SO IT MIGHT HAVE TO REBALANCE A  LITTLE BIT JUST FIND OUT WHEN REALITY DOES HAPPEN ONCE THE NEW  ADMINISTRATION TAKES ON. THE RUN HAS BEEN SO IMPRESSIVE. THANKSGIVING WEEK, YOU KNOW  WE HAVE A LOT TO BE THANKFUL FOR JOHN, BUT A SWEEPING RALLY ON  MONDAY IS ANOTHER THING THAT WE COULD BE THANKFUL FOR. WHAT  DROVE THAT IMPRESSIVE BULL RUN ON MONDAY? WE'RE CONTINUING TO SEE SHIPMENTS AT RECORD LEVELS AND WERE WELL  ABOVE THE PACE FROM LAST YEAR. A LOT OF FOLKS ARE POINTING TOWARD SOME SLOWING THAT WILL HAPPEN  IN A IN THE NEW YEAR WITH EXPORTS, BUT WE HAVEN'T SEEN THAT YET.  AND RIGHT NOW WITH THE DOLLAR DOING WHAT IT'S DOING , AND THE THREE  MARKETS THAT ARE TIED IN THE CHINESE MARKETS RIGHT NOW TO BE  COPPER, COTTON, AND SOYBEANS THOSE THREE MARKETS HAVE DONE  VERY VERY WELL POST ELECTION.  I LOOK FOR BEANS TO RUN OUT OF STEAM AS WE GET INTO THE END OF THE  YEAR. AS FAR AS HOW MUCH WE'RE GOING TO GROW NEXT YEAR, THAT'S  STILL UP IN THE AIR. WE KNOW THE ACREAGE STORY WILL BE BIG, BUT  YIELDS ARE STILL UNCERTAIN IN SOUTH AMERICA AND IN THE U.S. UNTIL  THOSE ARE FIGURED OUT, I THINK WE'RE PROBABLY ON TREND. SOYBEANS HAVE BEEN SO RESILIENT. YOU KNOW WHEN WE LOOK AT THIS  RECORD CROP OUT THERE, IT IS IMPRESSIVE THAT THAT'S WHERE THESE ARE  AT THE LEVEL WE SEE TODAY. BUT ALSO IT WAS PALM OIL THIS WEEK THAT THAT HELPED DRIVE THOSE PRICES A LITTLE BIT. SO CAN THAT LAST? THE  PALM OIL MARKET REALLY HAS BEEN STAGNATING HERE THE LAST FEW WEEKS. WE CONTINUE  TO HEAR STORIES ABOUT IT. AND REALLY THE ISSUES WITH PALM OIL REALLY  GO BACK TO EL NINO AND THE DROUGHT THEY SUFFERED IN MALAYSIA AND  INDONESIA EARLIER THIS YEAR.  WE'RE PROBABLY BEYOND THAT TO A CERTAIN EXTENT. OF COURSE ON A  WORLDWIDE BASIS, THERE IS BEEN PUSHES TO MOVE FURTHER AWAY  FROM PALM OIL, WHICH I GUESS IS NOT NECESSARILY BAD FOR SOYBEAN  OIL TO BEGIN WITH, BUT ABSOLUTELY. THIS THIS BEAN MARKET IS  IMPRESSIVE IN THE RESPECT THAT HERE WE HAVE PRODUCED A RECORD  CROP BY A LARGE MARGIN FOLLOWING A RECORD CROP IN SOUTH AMERICA AND HERE WE  CONTINUE TO HOLD BEANS AT THE 10 DOLLAR PLUS AREA, SO I MEAN  EVERYBODY IS FOR PROBABLY TWO YEARS NOW, HAS SECOND GUESSED  WHEN IS THIS CHINESE DEMAND A STOP AND IT JUST DOES NOT STOP. SO I THINK THERE ON A PROGRAM TO REBUILD  INVENTORIES. THEY'RE PROBABLY TRYING TO INCREASE OR IMPROVE THEIR  PROTEIN DIETS A LITTLE BIT. OF COURSE THAT COME WITH THE FEEDING OF  MORE LAST ACT IN AND THAT DEMAND FOR SOYBEANS. WE NEED TO HIT ON CORN A LITTLE BIT ON COTTON AND WILL LOOK A LITTLE BIT  MORE IN CHINA AND SOUTH AMERICA WE'RE GONNA DO THAT WHEN WE  COME BACK ON U S FARM REPORT.

ROUNDTABLE 2
WELCOME BACK. WELL JOHN MENTIONED COTTON BEFORE THE BREAK. LET'S DIVE INTO THAT A LITTLE BIT MORE. JOHN COTTON HARVEST IS RUNNING BEHIND IN TEXAS RIGHT NOW. WHAT KIND OF UNCERTAINTY IS THAT CREATING IN THE COTTON MARKET IF AT ALL?WE HAVE THIS DECEMBER DELIVERY THAT'S COMING DOWN THE PIPE. SO THE FOLKS WHO'VE BEEN ESSENTIALLY BET ON THE HARVEST COMING OUT OF THE THE GROUND HERE AND MEETING THAT DECEMBER CONTRACT, WE ESSENTIALLY CAME TO THE REALIZATION LAST WEEK THAT THAT WASN'T GOING HAPPEN. SO WE SAW THE FRONT MONTHS OF COTTON, MARCH AND DECEMBER OF THIS YEAR, REALLY REALLY JUMP THIS WEEK. AND THEN THE DEFERRED CONTRACTS KIND OF STAY STAGNANT. THE STORY GOING FORWARD HERE I THINK, IS NOT GOING TO BE ABOUT PRODUCTION IT'S JUST GOING TO BE ABOUT GETTING IT OUT ON TIME. THE REPORT WE SAW ON MONDAY SHOWED THAT   COTTON WAS CONTINUING TO BE SLOW. HIGH WINDS IN WEST TEXAS TO KEEP HIM OUT OF THE FIELDS.BUT I WILL SAY WE MENTIONED IN THE SEGMENT BEFORE, SOYBEANS, COTTON AND COPPER HAVE REALLY PERFORMED ON THE STAGE POST-TRUMP. SO THE IDEA FOR A SELL-OFF HERE WOULD BE I THINK A LITTLE BIT PREMATURE, BUT WE'RE LOOKING IN ACREAGE FOR NEXT YEAR ALONG WITH A PRETTY SUBSTANTIAL CARRY OUT. FOR WHERE WE SIT, LOKING AT THE OTHER ROW CROP MARKETS MIGHT BE BENEFICIAL TO DO SOME HEDGING HERE LOOKING TO JUMP IN THE MARKETS AND PROTECT THE PRICE, PROFIT MARGINS.BUT BETTING ON HARVEST IS ALWAYS A DIFFICULT THING BECAUSE YOU'RE BETTING ON MOTHER NATURE. WHAT'S THE STORY FOR CORN MOVING FORWARD? CORN IS COAT TAILING WITH THE SOYBEAN MARKET THAT'S KEPT HELPING SUPPORT IT. ALL THAT SAID, BY NO MEANS IS IT THE DEMAND WE CONTINUE TO SEE IN SOYBEANS, BUT THE DEMAND HAS BEEN RELATIVELY SOLID. WE SAW THE USDA BOOST OF THE EXPORT NUMBERS ON THE LAST REPORT AND AGAIN I THINK YOU HAVE TO SAY SIMILAR TO BEANS, IT HAS, FOR MONTHS, BEEN BOMBARDED WITH NEGATIVE NEWS. BIGGER PRODUCTION NUMBERS, CHANGES IN ACREAGE, AND YET THIS MARKET CONTINUES TO HOLD IN. AND I THINK I YOU LOOK AT COMMODITIES ON HISTORICAL BASIS, THAT'S TRADITIONALLY HOW THEY'LL BOTTOM. THEN THEY GET INTO PERIODS OF LONG BASE BUILDING, BUT THEY IGNORE THE REALLY NEGATIVE NEWS.  A LOT OF PEOPLE WOULD NOT HAVE BEEN SHOCKED TO SEE A CORN THIRTY FORTY CENTS LOWER THAN WE GOT BACK IN THE FALL TIME. AND IT DIDN'.T AND WE'RE REALLY AT THAT STAGE OF MOVING FROM THE SUPPLY MENTALITY TO MORE OF A DEMAND MENTALITY. IN THE COURSE THEN THINKING ABOUT WHAT COULD HAPPEN FOR NEXT YEAR. SO I THINK WE HAVE THE WORST OF IT BEHIND US. BUT PROBABLY LIMITED UPSIDE POTENTIAL AT THAT POINT AS WELL. AS THE CONVERSATION DOES MOVE TO DEMAND IS THE DEMAND THERE? THE DEMAND FOR THE PHYSICAL SUPPLY IS THERE, BUT I LIKE TO LOOK MORE LIKE A SPECULATIVE DEMAND. AND WE'VE SEEN AND SOYBEANS MAY SEEN IN COTTON WHERE YOU'VE SEEN SEEN SPECULATIVE BUYERS COME IN AND PUSH THE PRICE, BUT IN CORN AND WHEAT, WE STILL HAVE A STAGNANT PICTURE WITH THE SHORTS ARE IN THE MARKET AND HAS HAVE REALLY BEEN DIFFICULT TO BROKEN OUT. SO WE KIND OF LOOK AT WHAT'S GOING TO MAKE A CHANGE. IS IT GOING TO BE U S ACREAGE? IS IT GOING TO BE A SOUTH AMERICAN WEATHER STORY? FROM WHAT I SEE, THERE'S REALLY NOT A LOT THERE TO MAKE THIS BUST OUT. COULD BE A CURRENCY PLAY, BUT RIGHT NOW TO THE BETTER MADE IN THE SHORT SIDE AND IF THOSE FOLKS WILL COME OUT THAT COULD BE SOME ADDITIONAL DEMAND ON TOP OF THE PHYSICAL SUPPLY. SO SHOULD WE BE TAKING ADVANTAGE OF SOME THESE TWENTY SEVENTEEN PRICES OR DO YOU THINK IT'S IT'S TOO EARLY AT THIS POINT? I GUESS PERSONALLY,  I LOOK AT THE SWINGING MARKET SAY CERTAINLY WHEN YOU HAVE A NEW CROP SOYBEANS ABOVE THE TEN DOLLAR MARK,  PROBABLY NOT A BAD TIME TO TAKE ADVANTAGE. I THINK A LOT OF PEOPLE CAN MAKE MONEY AT THAT POINT. CORN, AT FOUR DOLLARS BOY THAT REALLY TOUCH AND GO FOR A LOT OF PRODUCERS. IF WE CONTINUE TO ACCELERATE HIGHER FROM HERE A DECEMBER CORN THE LAST TWO YEARS A STOP BETWEEN FOUR TWENTY FOUR FIFTY. ANYTIME YOU'RE IN THAT REALM CERTAINLY TAKE SOME TAKE ADVANTAGE OF IT.BUT YOU KNOW RIGHT NOW YOU'VE GOT ELEVEN MONTHS OF RISK AHEAD. SO IT'S A LOT OF UNCERTAINTY OUT THERE JUST YET. AND ENTERING INTO THIS HOLIDAY SEASON,LOOKING AT THE FUNDS  SPECIFICALLY, DO YOU THINK WE'LL SEE MORE VOLATILITY COME INTO PLAY OVER THE NEXT FEW WEEKS? SOMETIMES WE DON'T LOOK AT THESE. WE'RE BUSY OVER THE HOLIDAYS, DON'T REALLY TURN UP THESE MARKETS MAY BE AS CLOSELY AS WE DO THROUGHOUT THE YEAR, BUT IS THAT SOMETHING MAY BE THAT WE DO NEED TO KEEP IN TUNE WITH THAT AS WE MOVE THROUGH THIS HOLIDAY SEASON? THE VOLATILITY WILL COME FROM THE UP SIDE. BECAUSE I THINK IN THE CASE OF CORN LIKE DAN MENTIONED, A LOT OF FOLKS ARE LOOKING PRICES HERE SAYING RIGHT ON THE EDGE OF PROFITABILITY. SO IF IF THEY PUT ON HEDGES ARE THE MARKETS WOULD RUN ON A SOUTH AMERICAN WEATHER SCARE, WE COULD SEE SOME OF THE SHORTS BAILOUT. AND THAT'S WHAT YOU WANT TAKE ADVANTAGE OF MARKETING SIDE. TALKING ABOUT SOUTH AMERICA, YOU KNOW WE'RE SEEING SOME PLANTING, SOME WET WEATHER, SOME PLANTING DELAYS IN ARGENTINA, BUT IT'S BEEN REALLY GOOD DOWN THERE. SO DOES THAT MINOR NEWS STORY DOES THAT MATTER AT THIS POINT? YOU KNOW PROBABLY MUCH TOO EARLY TO BUILD A LOT. GRANTED BRAZIL AS WHOLE ARMY , THE PEOPLE WE LISTEN TO THAT THEY'RE DOWN ON THE GROUND DOWN THERE SAY YOU KNOW AS IN EVERY YEAR, THERE'S SOME TROUBLE SPOTS HERE AND THERE, BUT AS A WHOLE IT LOOKS LIKE A PRETTY SOLID CROP. ARGENTINA, WE WERE LOOKING AT LOSING SOME SOYBEAN PRODUCTION THERE ANYWAY AS THEY TRY TO SHIFT A LITTLE BIT BACK MORE TOWARD CORN. TWO, THREE MILLION METRIC TONS OFF THE HIGH END OF THE CROP. YOU KNOW CERTAINLY NOT A DISASTER BY ANY STRETCH OF IMAGINATION. WE'RE GONNA HAVE TO SEE SOMETHING A LITTLE MORE SERIOUS IN THAT DEVELOP TO REALLY GET THE MARKET EXCITED AND WEATHER. ALL RIGHT WELL TIME NOW TO GET THEIR CLOSING THOUGHTS OF STAY WITH US WILL DO THAT WHEN WE COME BACK ON U S FARM REPORT.

MARKETS NOW
WELCOME BACK TO THIS THANKSGIVING A WEEK AND IT'S TIME FOR  MARKETS NOW JOHN WE'LL START WITH YOU WHAT I WOULD SAY IF YOU'RE  YOU'RE COMING IN THIS GROWING SEASON HAVEN'T MARKETED A LOT OF  CORN, I KNOW  THAT'S THE CASE FOR A LOT OF FOLKS   MY ADVICE WOULD BE TO WAIT. I THINK YOU YOU HAVE A POSITION RIGHT  NOW OF THE SPECULATOR THAT IS VERY SHORT IN BOTH CORN AND ALL FEED  GRAINS ESSENTIALLY ACROSS THE BOARD AND THAT WHEN THAT WEATHER  MARKET COMES WE'LL SEE A LOT OF PRICE ACTION WE SAW LAST  SUMMER, WHERE THE UNCERTAINTY COMES FROM THE UPSIDE RATHER  FROM THE DOWN SIDE.AND THOSE ARE HTE SALES OR HTE RALLY RATHER  YOU WANT TO BE USING TO SELL INTO. THIS MARKET IS FLAT RIGHT NOW DOESN'T FEEL LIKE THAT IS GIVING  HIM ANY MUCH OPPORTUNITY  LOOK OUT THE CURVE,  USE THE JULY CONTRACT IF YOU HAVE AN  OPPORTUNITY, AND SELL WHEN EVERYBODY'S BUYING.  I CERTAINLY AGREE WITH JOHN. I THINK FOR THE TIME BEING WE'RE  PROBABLY LIMITED AS FAR AS THE  POTENTIAL WE HAVE ON THE UPSIDE.I  GUESS I REFER TO IT AS WE'RE GOING TO SPEND SOME MORE TIME IN THE  DESERT. WE PROBABLY DON'T HAVE A LOT OF RISK TO THE DOWNSIDE BUT  WITHOUT A STIMULUS TO DRIVE US HIGHER,  IT'S HARD TO GET A BIG  CHALLENGE GOING TO THE UPSIDE AS WELL THERE'S AN OLD ADAGE IN THE COMMODITY MARKETS AND IF THE BULLS GET TURKEY FOR THANKSGIVING, THE BEARS ARE GOING TO GET IT FOR  GRANTED THIS TURKEY MIGHT BE A LITTLE SMALL, BUT IT STILL HAD BEEN  RALLYING AT THIS POINT, SO I TEND TO THINK WE'RE GOIGN TO BE IN FOR AN  EXTENDED PERIOD OF SIDEWAYS KIND OF STAGNANT MARKETS SO TAKE ADVANTAGE OF HTE RALLYING OPPORTUNITIES WHEN THEY COME. ALRIGHT, THANK YOU BOTH  FOR BEING BEING HERE I APPRECIATE IT. STAY WITH US, JOHN PHIPPS HAS  SOME THANKSGIVING COMMENTARY WHEN WE COME BACK

JOHN’S WORLD
SOME OF YOU ARE PROBABLY STILL RECOVERING FROM  DEVOURING A BIG MEAL THIS WEEK. FOR JOHN, IT  MARKS A SPECIAL SEASON... I'LL LET HIM EXPLAIN FROM  TEH FARM.  VEN BY THE MOST TRADITIONAL RULES, THE CELEBRATION OF  THANKSGIVING MARKS THE BEGINNING OF THE CHRISTMAS SEASON. WHICH MEANS TIME FOR CHRISTMAS LIGHTS. I HAVE TALKED BEFORE  ABOUT MY EVOLVING POSITION ON WHAT THE PROPER AMOUNT OF  ILLUMINATION IS FOR THIS SEASON, BUT THIS YEAR, MY FOCUS IS GOING TO  BE ON THE LED - LIGHT-EMITTING DIODE. LED'S ARE RAPIDLY REPLACING INCANDESCENT BULBS JUST ABOUT EVERYWHERE, AND THE FACT THEY ARE  SO MUCH MORE EFFICIENT, USING A FRACTION OF ELECTRICITY AND  GENERATING FAR LESS USELESS HEAT, HAS A HUGE IMPACT ON OUR  ENTIRE ELECTRIC CONSUMPTION PATTERN. OUR POWER CONSUMPTION PER  CAPITA HAS BEEN ESSENTIALLY FLAT FOR TWENTY YEARS, FOR EXAMPLE. MANY OF YOU REMEMBER THE DISSATISFACTION WITH MANDATES TO  SWITCH TO MORE EFFICIENT LIGHTING DEVICES, AND TO BE FAIR, ONE  SOLUTION - COMPACT FLUORESCENT LIGHTS (CFLS) - WERE POOR  SUBSTITUTES. BY WE'VE WORKED THROUGH THAT TRANSITION PERIOD AND  THE PRICE OF LED'S HAS PLUMMETED TO SWITCHING IS A REAL NO  BRAINER. NOT ONLY DO THEY TAKE MUCH LESS ENERGY AND WASTE  ALMOST NONE AS HEAT, THEY LAST ABOUT 25 TIMES LONGER. THIS  MEANS THE FLASHLIGHT YOU DEPEND ON ONCE EVERY DECADE OR SO  DURING A POWER EMERGENCY NOT ONLY WORKS, BUT IS FAR BRIGHTER  THAN THE OLD VERSIONS. IT MEANS YOU CAN HAVE MORE LIGHT  AVAILABLE IS COMPACT FORM AND USE TRIPLE-A INSTEAD OF D-CELLS.  THEY'VE EVEN STARTED GETTING THE COLORS A LITTLE WARMER AND  CLOSER TO WHAT CHRISTMAS LIGHTS SHOULD LOOK LIKE. BUT NOW THAT WE'RE CHURNING OUT TONS OF THESE DEVICES, YOU CAN  GET A LOT MORE STINGS TO DRAPE OVER LANDSCAPE WITHOUT SPINNING  UP YOUR ELECTRIC METER OR BUSTING YOUR BUDGET. SOMETIMES WE  HAVE TO GO THROUGH A GRUMPY TRANSITION PHASE TO HELP NEW  TECHNOLOGIES BREAK INTO MATURE MARKETPLACES. FROM CATALYTIC  CONVERTERS TO LOW FLUSH TOILETS TO LEDS, THAT'S SOMETHING TO  REMEMBER WHEN CONFRONTED WITH CHANGE IN THE WAY WE DO  EVERYDAY THINGS. YOU'LL FORGET ABOUT THE TRANSITION PERIOD MUCH  FASTER THAN YOU THINK.

TEASE
THANKS, JOHN. WHEN WE COME BACK, IT'S A TRIBUTE  TO ALL THE MEN AND WOMEN WHO WEAVE THIS GREAT  INDUSTRY TOGETHER. 2016 PROVED TO BE ANOTHER  CHALLENGING YEAR. BUT THAT'S NOT STOPPING  FARMERS FROM COUNTING THEIR MANY BLESSINGS  THIS YEAR. HARVEST OF THANKS IS NEXT. 

THE MAYFLOWER STORY
AUTUMN IS A WONDERFUL TIME OF THE YEAR AS THE FRANTIC PACE OF HARVEST WINDS DOWN AND WE CAN  REFLECT ON ANOTHER SEASON OF ABUNDANT EFFORT. THE IMPORTANT WORK OF FARMERS AND RANCHERS IS NOT ALWAYS EASY.   BUT AS WE GET TO WITNESS  EVERY DAY - IT IS FULFILLING AS FARM FAMILIES HELP PUT NOURISHMENT  ON OUR TABLES....AND OPTIMISM IN OUR SOULS.  NOW, NEARLY 400 YEARS LATER, WE STILL CELEBRATE  THE STRENGTH OF PIONEERS WHO FACED TRIALS AND  TRIBULATIONS TO EAK OUT AN EXISTENCE ON THIS  LAND WE CALL AMERICA. ANDREW MCCREA BEGINS OUR HARVEST OF THANKS.  AMERICA'S FARMERS AND RANCHERS DEDICATE THEIR  LIVES TO FEEDING AND CLOTHING OUR COUNTRY AND  MILLIONS OF OTHERS ACROSS THE GLOBE. BEFORE THE TRIP IT WAS JUST AN ORDINARY SHIP.  SIXTY-SIX DAYS LATER,  SHE WOULD GO INTO THE HISTORY BOOKS AS ON OF THE MOST FAMOUS  VESSELS TO CROSS THE ATLANTIC    WHIT PERRY, DIRECTOR OF MARITIME OPERATIONS AT PLYMOUTH PLANTATION THIS WAS A SHIP THAT WAS AVAILABLE.  IT WAS A VERY COMMON  MERCHANT SHIP THAT WOULD HAVE BEEN AVAILABLE FOR HIRE.  THE  PASSENGERS WERE CONSIDERED CARGO, AND THE SAILORS FAVORITE KIND  OF CARGO BECAUSE IT WAS SELF-LOADING CARGO. THIS WAS THE UHAUL  OF ITS DAY. FOR THE SAILORS ON THE MAYFLOWER, THIS WAS A LONG RUN, BUT NOT  UNCOMMON.  IT WAS A DIFFERENT STORY FOR THE PILGRIMS. FOR THE PASSENGERS THIS WOULD BE LIKE YOU AND I GOING TO THE  MOON.  THEY HAD NO IDEA WHAT TO EXPECT.  INCREDIBLY CORAGEOUS.   THIS WASN'T SOMETHING THAT WAS DONE VERY DAY.  WORSE THAN  THAT, THE 102 PASSENGERS PROBABLY SPENT MOST OF THEIR TIME DOWN  ON THE TWEEN DECK OF THE SHIP.  PASSENGERS WERE PROBABLY ONLY ALLOWED ON THE MAIN DECK IN  SMALL GROUPS TO GET OCCASIONAL FRESH AIR.  THEIR CHARTER SAID THEY  WERE TO GO TO NEW YORK.  CONDITIONS ALTERED THAT PLAN.  THE  CAPTAIN DID ATTEMPT TO GO DOWN THE COAST TOWARD THE INTENDED  LANDING SPOT, BUT POOR WEATHER AND TREACHEROUS SHOALS SENT THE  MAYFLOWER TO A LANDING SPOT AT TODAY'S PLYMOUTH, MA.  CAPTIAN  CHRISTOPHER JONES DIDN'T JUST DUMP THE PILGRIMS OUT AND LEAVE  THOUGH. HE WAS VERY PATIENT THEY HAD TO ANCHOR QUITE FAR OUT.  THEY KEPT  USING THE SHIP TO LIVE ON WHILE THEY EVERYDAY RODE IN ON THEIR  SHALLOP AND SHIPS BOAT TO BUILD HOMES ON LAND. THE MAYLOWER DID REMAIN OFF SHORE FOR ABOUT FOUR MONTHS.  ONLY  53 OF THE 102 PASSENGERS DIED PLUS HAVE THE CREW PERISHED  BEFORE THE MAYFLOWER LEFT FOR HOME.  TODAY YOU CAN COME TO  PLYMOUTH, MA AND SEE A FULL SIZE REPLICA CALLED MAYFLOWER II.   THE BRIGHTLY COLORED SHIP RESEMBLES, AS BEST AS IS KNOWN, THE  ORIGINAL. MAYFLOWER II IF A AWESOME EXAMPLE OF A EARLY 17TH CENTURY  VESSEL IN THE ACCURACY OF ITS DESIGN.  NO WE DIDN'T HAVE PERFECT  BLUEPRINTS OF MAYFLOWER II.  WHAT DID HAVE IN DOCUMENTATION  WE  KNEW THE SHIP WAS 180 TONS BURDENED WHICH MEANS IT COULD  CARRY ONE HUNDRED AND EIGHTY ONE TON BARRELS AND KNOWING THAT FIGURE, AND USING PLANS FROM SHIPS OF THAT DAY,  THEY COULD RECREATE WHAT THEY BELIEVE THE ORIGINAL MAYFLOWER  LOOKED LIKE.  THE REASON THAT SOME OF THE MERCHANT SHIPS WERE DECORATED  WITH DIFFERENT COLORS AND THINGS UP HIGH, WHAT WE CALL THE BRIGHT  WORK, IS SO THAT THEY WERE EASILY IDENTIFIABLE BY OTHER MERCHANT  CAPTAINS FROM FAR AWAY.  SO THEY WOULDN'T NORMALLY HAVE THE  NAME OF THE VESSEL ON THEM, BECAUSE THE MASTER COULD READ,  BUT A LOT OF THE SAILORS COULDN'T READ. ALTHOUGH IT'S BEEN NEARLY 400 YEARS SINCE THE FIRST MAYFLOWER  SAILED INTO THIS HARBOR, IT'S A STORY OF COURAGE AND COOPERATION  THAT STILL CAPTIVATES AMERICANS.  A STORY THAT WE ESPECIALLY  REMEMBER EACH THANKSGIVING.  TRAVELING THE COUNTRYSIDE, IN  PLYMOUTH MASSACHUSETTS, I'M ANDREW MCCRAE

CROP COMMENTS
VERY TOUCHING.  WEATHER CHALLENGES ARE WOVEN  INTO THE FABRIC OF FARMING. BUT FOR MANY  SOYBEAN GROWERS IN THE MIDWEST, WEATHER WAS  NEARLY IDEAL. 

TEASE
NEXT, WE'LL MEET AN ILLINOIS FARMER  WHO IS HARVESTING THE CROP OF HIS LIFE WITH HIS  FAMILY BY HIS SIDE.  LATER, YOU'LL MEET A FARMER WHO KNOWS WHAT IT'S  LIKE TO RUN A TEAM OF HORSES TO BRING IN THE  CROP. BUT HE'D RATHER DO IT FROM THE CAB OF HIS  NEW COMBINE. WE'LL SHARE THE WISDOM OF A 90 YEAR  OLD FARMER THAT YOU DON'T WANT TO MISS. AND THROUGH-OUT THIS SHOW, YOU'LL HEAR FROM  FARMERS THROUGH-OUT THE COUNTRY WHO SHARE  THEIR BLESSINGS....LIKE  KEITH SCH-RAIDER OF DEFIANCE, OHIO.  <"I LOVE AG AND I'M VERY THANKFUL TO BE OUT HERE ON A BEAUTIFUL  DAY LIKE THIS AND HARVEST A GOOD CROP AND IT'S JUST A REAL  BLESSING,">

FARMING CHALLENGES AND HIGHLIGHTS
THERE'S NO SUCH THING AS A PERFECT YEAR. AND 2016  PRODUCED IT'S FAIR SHARE OF CHALLENGES PROVING  TO BE ANOTHER TOUGH YEAR FOR MANY. FARMERS IN  THE SOUTH BATTLED FLOODING IN TEXAS AND  LOUSIANA. LATE SUMMER AND EARLY FALL MORE THAN  A FOOT OF RAIN DUMPED ON FAMRERS IN MISSOURI  AND IOWA. THE AFTERMATH? THIS SHOCKING FOOTAGE  AND DAMAGE TO A CROP THAT WAS PLANTED IN  RECORD TIME. LET'S NOT FORGET HURRICANE  MATTHEW THAT RAGED ALONG HTE ATLANTIC  COASTLINE. FARMERS IN NORTH CAROLINA SAW 30  INCHES OF RAIN IN ONLY THREE WEEKS. IT DESTROYED  THE COTTON CROP IN AREAS OF THE STATE. PEANUTS  SUFFERED A 60 TO 80 PERCENT LOSS. TODD BOYD SAYS  FARMERS WERE BANKING ON A GOOD CROP THIS YEAR  JUST TO SURVIVE AND NOW MANY ARE LEFT WITH  QUESTION MARKS AS TO WHERE THEY GO FROM HERE.  BUT IT WAS DROUGHT THAT LEFT SCARS IN THE  NORTHEAST. FARMERS FROM PENNSYLVANIA TO MAINE  GRAPPLING WITH THE MOST EXTREME DROUGHT  THEY'D SEEN IN OVER A DECADE. FEED FOR THE DAIRY  INDUSTRY BECAME SCARCE, AND THIS FALL, IT FORCED  SOME CRANBERRY GROWERS TO HARVEST THEIR CROP  BY HAND. DRY HARVEST IS NECESSARY FOR  HARVESTING WHAT'S USED AS FRESH FRUIT. BUT FOR  SOME, THEY DIDN'T HAVE ENOUGH WATER TO FLOOD  BOGS.. AND PICKING BY HAND REQUIRES MUCH MORE  LABOR AND TAKES A LOT MORE TIME.  DESPITE ALL THOSE CHALLENGES, IF FARMERS PROVE  ONE THING YEAR AFTER YEAR, IT'S THEY KNOW HOW TO  PREVAIL. MOTHER NATURE SEEMED TO SHINE IN  AUGUST, BRINGING SOME MUCH NEEDED RAINS TO  AREAS,  JUST WHEN THE SOYBEANS NEEDED IT MOST.  AND THE RESULT? A RECORD CROP WITH MANY  VETERAN FARMERS TELLING US THEY HARVESTED THE  BEST CROP OF THEIR CAREERS. EVEN HAVING TO  DOUBLE CHECK THEIR YIELD MONITORS, THINKING WITH  SUCH OUTRAGEOUS NUMBERS, THE YIELD MONITORS  COULDN'T BE RIGHT. 

ASA INCOMING PRESIDENT
IN ROSEVILLE, ILLINOIS. INCOMING AMERICAN SOYBEAN  ASSOCIATION PRESIDENT RON MOORE WAS JUST AS  SHOCKED WITH THE BUMPER CROP IN 2016... THE BEST  CROP OF HIS LIFE. BUT TO BRING IN SUCH A BOUNTIFUL  HARVEST WITH FAMILY BY HIS SIDE, MADE HARVEST OF  2016 ONE TO REMEMBER.  WITH 39 HARVESTS UNDER HIS BELT,  RON MOORE HAS LEARNED WHAT ONCE SEEMED  UNUSUAL IN THE FIELD IS NOW QUITE COMMON. <"WHEN I STARTED FARMING, OUR AVERAGE BEAN YIELD WAS 40  BUSHELS PER ACRE. NOW WE'RE HARVESTING 80 BUSHELS PER ACRE."> THE WESTERN ILLINOIS FARMER AND VICE PRESIDENT  OF THE AMERICAN SOYBEAN ASSOCIATION ISN'T  ALONE..  HE'S ONE FARMER OF MANY, SEEING A RECORD  SOYBEAN CROP THIS YEAR...  WHAT HE SAYS IS A TESTAMENT TO  GOOD GROWING  CONDITIONS AND GOOD VARIETIES.  <"IF THE REST OF THE CROP IS AS GOOD AS WE ALREADY HARVESTED, IT  WILL BE A RECORD CROP ON OUR FARM FOR BOTH CORN AND SOYBEANS,">  BUT YIELDS AREN'T THE ONLY THING THAT'S EVOLVED  OVER THE YEARS ON THE MOORE'S OPERATION.  THERE'S PROBABLY 100 PODS ON THIS PLANT, THAT'S JUST  AMAZING."> RON AND HIS WIFE DEB WORK ON THE FARM..  AND AFTER A MOVE TO CHICAGO, MICHAEL, ONE OF  RON'S SONS CAME BACK TO THE OPERATION<"HE WANTED TO COME HOME TO FARM. WE WERE TICKLED TO DEATH.  AND YOU KNOW, KNOW WE FIND A WAY TO MAKE IT WORK. IT'S A  BLESSING. I ENJOY WORKING WITH MY FATHER AND SON. <"IT WASN'T THE LIFESTYLE I WAS LOOKING FOR SO I KNEW I WANTED TO  CHANGE. SO I THOUGHT WHAT DO I WANT TO DO? AND STARTED THINKING  ABOUT FARMING."> <"I THINK IT'S PROBABLY THE BEST DECISION I'VE MADE IN MY LIFE."> WHILE FARMING IS THIS FAMILY'S FULL-TIME JOB, RON  HAS ANOTHER RESPONSIBILITY- REPRESENTING  SOYBEAN GROWERS ACROSS THE U.S.  HE SAYS ASA IS PUTTING ATTENTION ON POLICY AND  ADVOCACY NOW MORE THAN EVER. <"WE'VE ALWAYS BEEN EXCELLENT IN LEGISLATIVE. NOW WE'RE RAMPING  UP THE PEOPLE WE HAVE WORKING IN REGULATORY ARENA IN  WASHINGTON D.C."> POLICY IS ONE THING, DEMAND IS ANOTHER<"I FIRMLY BELIEVE IT. WE'VE SEEN AN INCREASE IN HOG NUMBERS,  CATTLE NUMBERS, WE'RE GOING TO USE THIS CROP WE'RE PRODUCING. IT  MAY NOT BE AS QUICK BUT WE'RE GOING TO USE IT."> AT HOME AND OVERSEAS... HE BELIEVES CHINA WILL CONTINUE TO CHEW THROUGH  THE SUPPLY...<"WE STILL HAVE A HUGE DEMAND FOR SOYBEANS ACROS THE WORLD.  CHINA CONTINUES TO BUY SOYBEANS AT A VERY FAST PACE."> WHILE MOORE FIGHTS FOR FARMER'S IN WASHINGTON...<"RON- THERE'S 7, 8 PODS ON THIS ONE. DEB- THAT'S JUST AMAZING."> HE'S THANKFUL FOR HIS FAMILY BACK HOME AND A  BONTIFUL CROP THEY GET TO HARVEST TOGETHER. <"AGRICULTURE AND LIVING IN RURAL AMERICA IS A GREAT PLACE TO RAISE  A FAMILY. I'VE BEEN BLESSED HAVING A WONDERFUL FAMILY."> THANKS, TYNE.

TEASE
WHEN WE COME BACK WE HEAD TO  TEXAS - A STATE KNOWN MORE FOR ITS COTTON THAN  CORN.  BUT THAT'S WHERE WE MEET A CORN GROWER  WHO'S THANKFUL FOR THE WORK HE LOVES. AND LATER, WE'LL MEET A 90 YEAR OLD FARMER WHO'S  GIFT WASN'T JUST A RECORD CROP THIS YEAR, BUT A  SHINY NEW MACHINE TO MAKE ONE OF THE BEST TIMES  OF THE YEAR EVEN MORE ENJOYABLE.  BUT FIRST,  BRYON CHVATAL PRONOUNCED  WODDLE OF PRAGUE,  NEBRASKA  IS THANKFUL FOR MORE THAN A BONTIFUL CROP THIS  FALL. <"I'M THANKFFUL FOR MY HEALTH AND MY BEAUTIFUL WIFE. I JUST GOT  MARRIED HERE IN SEPTEMBER SO I'M HAPPY I HAVE A LONG-LASTING  RELATIONSHIP HERE FOR MANY YEARS NOW,">

NCGA PRESIDENT
IT WAS RECORDS FOR MANY BEAN GROWERS. BUT CORN FARMERS ALSO LOOK TO BE SETTING A NEW  HISTORICAL HIGH IN 2016. EVEN WITH PRICES BEING DOWN, BOUNTIFUL BUSHELS  ARE HELPING TO KEEP FAMILIES IN THE GAME. FOR NATIONAL CORN GROWER PRESIDENT WESLEY  SPURLOCK, OF STRATFORD TEXAS-- HARVEST IS  ALWAYS THE FIRST STEP IN PRESERVING THE FAMILY  LEGACYTHE UNCONFINED ROADS, AND ENDLESS HORIZON'S OF  THE TEXAS PANHANDLE CONTINUE TO CONGREGATE AMID THE FOUNDATION OF  THE SPURLOCK CHAPEL. MY GREAT GRANDFATHER WAS A METHODIST PREACHER SO WHEN  THEY CAME OUT OF ARKANSAS AND THEY MOVED INTO THE TEXAS  PANHANDLE ONE OF THE FIRST THINGS THEY DID WAS START A CHURCH.  FIRST BUILT IN 1903, IT'S BEEN A  PLACE OF HOPE AND  NEW BEGINNINGS MORE THAN A CENTURY... THAT SENTIMENT CONTINUES TO DRIVE THE SPURLOCK  FAMILY FARM.  WE'RE THANKFUL THAT WE'RE A MULTIGENERATIONAL FAMILY.  WE'VE GOT THE 5TH SIXTH AND 7TH GENERATIONS OUT HERE ON THE FARM  WORKING AND IN OWNERSHIP.  MY GRANDFATHER ACUTALLY CAME IN AT 14 YEARS OLD ON  HORSEBACK IN 1898. SO WE'VE BEEN IN SINCE THE LATE 1800'S EARLY  1900'S AND HARVEST IN "2016" WILL CUT IT'S OWN PATH IN  THAT FAMILY LEGACY. WE'RE LOOKING AT 230-240 BUSHEL CORN RIGHT NOW AND  WE'RE TICKLED WITH WHAT WE'VE GOT AND///  FROM THE GROUND...  AND FROM THE AIR...ITS CLEAR,  THIS YEAR'S CROP FOUND A WAY TO HOLD ON. THE RAIN KIND OF BACKED OFF. WE GOT JUST A LITTLE BIT EARLY IN  MAY AND A LITTLE IN JUNE AND  THEN WE GOT HOT FOR ABOUT 2.5 WEEKS  WERE AT ABOUT 100 DEGREES DURING THE DAY.  IT MAY NOT BE THE BIGGEST YIELDS WE'VE EVER SEEN BUT  ANYTIME WE GET THESE TYPES OF YIELDS IT'S A GREAT HARVEST. 3:36:07 WITH FAMILY BY HIS SIDE, THIS PRESIDENT OF THE  NATIONAL CORN GROWERS ASSOCIATION IS ALREADY  LOOKING AT THE NEXT HORIZON. TESTING NEW TECHNOLOGY, WATCHING PRICES AND  PREPARING TO TAKE ON THE 2017 POLICY CHALLENGES  IN WASHINGTON...INCLUDING A NEW FARM BILL.  WE JUST REALLY WANT TO WORK HARD TO MAKE SURE SOME OF THE  PROBLEMS IN LOCALIZED AREAS CAN BE CLEANED UP CORRECTED SO THAT  EVERYBODY IN THE US IN ALL FARMS ACROSS ARE GETTING A FAIR SHAKE  OUT OF THE ARC AND PLC PAYMENTS.REGARDLESS OF HOW THOSE BATTLES GO.. IT'S HERE..  WE DON'T GET A CHECK MONTHLY OR WEEKLY OUR CHECK COMES  WHEN THAT HARVEST SHOWS UP. WHERE FOR MORE THAN A CENTURY... A GREAT PLACE TO RAISE FAMILIES AND TO LIVE AND ENJOY LIFE.  HIS FAMILY HAS STOOD, TALL, STEADFAST, AND  BELIEVING IN THE PROMISE OF A BETTER FUTURE. THANKS, CLINTON.

TEASE
AND NEXT WE'LL MEET A 90 YEAR OLD FARMER WHO WAITED HIS WHOLE LIFEFOR ONE SPECIAL GIFT. BUT FIRST, FRED POND OF SCOTT OHIO IS THANKFUL FOR NICE HARVEST WEATHER, DESPITE A CHALLENIGN GROWING SEASON. ALWAYS THANKFUL JUST TO GET OUT ON A BEAUTUFIL DAY LIKE THIS AND ENJOY THE WEATHER. THANKFUL FOR FAMILY, THANKFUL FOR BLESSINGS THAT GOD'S GIVEN US AND IT'S JUST A PELASURE TO BE A FARMER

FATHER/SON FARMING DUO
HARVEST IS MORE THAN JUST ANOTHER YEAR'S CROP.  OFTENTIMES, THE MEMORIES CHERISHED ARE WITH  FAMILY MEMBERS MOVING IN AND OUT OF THE FIELD.  WE HAVE A STORY OF AN UNSPEAKABLE BOND  BETWEEN A FATHER  AND SON AS THEY HARVEST  ANOTHER YEAR TOGETHER. BETSY JIBBEN TAKES US TO ILLINOIS....FOR  ANOTHER STOP ON OUR "HARVEST-"TOUR' OF THANKS'. HARVEST IS MORE THAN JUST ANOTHER YEAR'S CROP. OFTENTIMES, THE  MEMORIES CHERISHED ARE WITH FAMILY MEMBERS MOVING IN AND OUT  OF THE FIELD. WE HAVE A STORY OF AN UNSPEAKABLE BOND BETWEEN A  FATHER AND SON AS THEY HARVEST ANOTHER YEAR TOGETHER.  NORTHERN ILLINOIS FARMERS KNOW THE CROP BRINGS A GOOD CROP.   "THIS IS PROBABLY TEN TO FIFTEEN PERCENT ABOVE AVERAGE," SAID  ASHTON, ILLINOIS FARMER, JOHN KENNAY.  BUT THE MEMORIES IN THE FIELD MAY BE SWEETER THAN WHAT ENDS UP  IN THE CAB, ESPECIALLY TRUE FOR FATHER-SON DUO DON AND JOHN  KENNAY.  "I WAS BORN IN 1926," SAID DON KENNAY. "I'VE PROBABLY HARVESTED  SEVENTY YEARS OR SOMETHING LIKE THAT."  "I'M AT FORTY YEARS OF FARMING. I DON'T KNOW IF I WILL MAKE IT TO  SEVENTY FOUR, SEVENTY FIVE OR SEVENTY SIX YEARS, BUT I'LL TRY," SAID  JOHN KENNAY.  MAJOR MILESTONES THEY'RE MAKING TOGETHER DURING ANOTHER  HARVEST, AS FARMERS AND FAMILY. THIS FALL IS SPECIAL, MARKING  DON'S NINETIETH BIRTHDAY.  "I USED TO DO A LOT OF BAILING HAY AND WHEN YOU GET THAT AROMA IN  THE HAY, YOU JUST GET THAT FEELING IT'S TIME TO GO," SAID DON  KENNAY.  DON HAD THAT FEELING FOR WELL OVER SEVENTY HARVESTS, WITH A BREAK  IN BETWEEN TO SERVE HIS COUNTRY.  "THAT'S ALL WE KNEW IN THOSE DAYS, JUST SHELL CORN BY HAND AND  COME IN AT NOON. THEN, YOU SHOVE IT OFF AND GO BACK AGAIN BY  HAND," SAID DON KENNAY.  THE MAN WHO REMEMBERS FARMING WITH HORSES GOT AN UPDATED  'HORSE-POWER' OF HIS OWN THIS YEAR. THAT'S A NEW COMBINE.  DON KENNAY SAID, "IT HAS A LOT OF BELLS AND WHISTLES TO IT!" "I NEVER SEE HIM MAKING MISTAKES. HE'S RUNNING ALL THE BELLS,  WHISTLES AND TOYS ON IT AS WELL AS ANYBODY CAN," SAID JOHN  KENNAY.  "SOME OF IT I DON'T KNOW IF YOU NEED OR NOT, BUT THAT'S THE WAY IT  GOES NOWADAYS," SAID DON KENNAY.  BUT DON'S FANCY NEW EQUIPMENT DOESN'T MAKE HIM FORGETFUL OF  THE PAST. HE KEEPS A HORSE SHOE ON HIS MACHINERY.  "WHEN HE FIRST STARTED PICKING CORN, HIS TRACTION WAS A HORSE WITH  HORSESHOES, INSTEAD OF BIG RUBBER TIRES," SAID JOHN KENNAY.  IT'S A REMINDER OF HARDER TIMES, WHEN HARVESTING OVER AN ACRE  WAS A BIG DAY.  "IT'S PROBABLY GOOD LUCK. I DON'T KNOW. WE ARE HAVING GOOD LUCK  TODAY," SAID DON KENNAY.  THERE MAY NOT BE MANY FARMERS DON'S AGE LEFT WORKING IN THE  FIELDS, BUT HE'S NOT PLANNING ON HANDING OVER THE REINS ANYTIME  SOON.   DON KENNAY SAID, "IF I CAN WAKE UP, I'M GOING TO PICK CORN!"  "I'M JUST AWFUL PROUD OF HIM. HE'S PUT HIS LIFE INTO IT," SAID JOHN  KENNAY.   THANKS, BETSY. AND JUST WHEN YOU THINK DON COULDN'T GET EVEN  MORE IMPRESSIVE, HE SAYS AT NIGHT, HE'LL CLIMB UP  AND DOWN THE STEPS ON HIS EQUIPMENT... JUST FOR A  LITTLE EXERCISE. MAYBE THAT'S THE KEY TO STAYING YOUNG? 

TEASE
STILL TO COME, JOHN PHIPPS JOINS US FOR HIS  ANNUAL HARVEST OF THANKS MESSAGE. AND IF YOU'RE  TRYING TO GUESS WHAT HE'S THANKFUL FOR THIS  YEAR, YOU MAY WANT TO KEEP GUESSING... WE'LL HEAR  FROM HIM NEXT. 

JOHN PHIPPS THANKFUL
AFTER A LONG AND MOSTLY UNPLEASANT ELECTION  YEAR, YOU MAY BE ABLE TO GUESS WHAT JOHN PHIPPS  IS THANKFUL FOR.  AND YOU PROBABLY WOULD BE  WRONG. JOHN JOINS US FROM HIS ILLINOIS FARM TO EXPLAIN  WHY...IN HIS ANNUAL THANKSGIVING MESSAGE. SUPPOSE SOMEONE CLOSE TO YOU - A FRIEND, A CHILD OR GRANDCHILD,  OR EVEN YOUR SPOUSE - CAME TO YOU AND SAID, "I'M THINKING ABOUT  RUNNING FOR A PUBLIC OFFICE".  IT COULD BE ANYTHING FROM TOWNSHIP  CLERK TO STATE LEGISLATOR OR PRESIDENT. WHAT WOULD YOUR INITIAL  REACTION BE?  I'M GUESSING IT WOULD BE SOMETHING LIKE MINE: "ARE YOU OUT OF  YOUR MIND?" PUBLIC OFFICE HOLDERS - POLITICIANS - ARE HELD IN NEAR  CONTEMPT BY THE VAST MAJORITY OF AMERICANS. THEY RANK NEAR OR  AT THE BOTTOM OF RESPECTED PROFESSIONS. THERE IS AN ENTIRE  INDUSTRY DEVOTED TO SCRUTINIZING EVERY ASPECT OF THEIR CONDUCT  AND PERSON, AND THERE IS LITTLE SYMPATHY FOR ALL TOO HUMAN FAULTS  AND FAILURES. AS WE HAVE JUST SEEN, THE PROCESS OF CHOOSING WHO WILL HOLD  PUBLIC OFFICE IS BRUTAL - EVEN AT THE LOWEST LEVELS. AND ONCE IN  OFFICE, IT SEEMS MOST RULES OF RESPECT AND COURTESY ARE NO LONGER  APPLICABLE. WE GRANT THEM FEW BOUNDARIES OF PRIVACY AND  AUTOMATICALLY SUSPECT EVERY MOTIVE. I THINK WE HAVE WORKED INTO A VICIOUS CYCLE. THE CYNICAL  EXPECTATIONS OF THE AMERICAN PUBLIC, AND THE ENTHUSIASM WE  POUR INTO FINDING PERSONAL AND IDEOLOGICAL FLAWS IN OUR  CANDIDATES HAS MADE PUBLIC SERVICE AN ALMOST UNTHINKABLE  CHOICE FOR OUR BEST AND BRIGHTEST. AS A RESULT, WE SHOULD NOT BE  SURPRISED BY THE PERSONALITY TYPES THAT WILL CHOOSE TO ENDURE THIS  PROCESS AND SEEK SUCH CAREERS. SO THIS THANKSGIVING, I'M REMINDING MYSELF TO BE THANKFUL  ANYONE RUNS FOR PUBLIC OFFICE. AFTER ALL, THEY ARE DOING A JOB THE  REST OF US WOULD NOT. AND I WILL BE THINKING ABOUT WHAT I CAN DO TO  WEAKEN THIS CORROSIVE FEEDBACK LOOP SO THAT MY ANSWER TO MY  FRIEND CONSIDERING PUBLIC OFFICE CAN BE, "GREAT, YOU ARE JUST THE  PERSON WE NEED. HOW CAN I HELP?"  WELL PUT, JOHN. THANK YOU. 

CLOSE
AS WE CLOSE OUT THIS THANKSGIVING SALUTE, IT CAN  BE DIFFICULT TO PUT INTO WORDS HOW WE FEEL  ABOUT THIS BUSINESS WE COVER AND THE FARM  FAMILIES WE GET TO KNOW.  THEY ALWAYS FIND A WAY TO PERSERVERE... AND 2016  IS PROOF OF THAT. . MAY YOUR HARVEST BE FULL OF THANKS-AND YOUR  BLESSING'S BOUNTIFUL.  THE HARD WORK, DEDICATION AND PASSION ARE  APPRECIATED BY ALL OF US ON THIS PROGRAM AND  ACROSS THE FARM JOURNAL FAMILY. THANK YOU FOR  ALL THAT YOU DO TO ENSURE OUR TABLES ARE FULL AND OUR THANKSGIVING'S A SPECIAL TIME WITH  FAMILY. GOD BLESS.

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