USFR Weekly Recap - January 8-9, 2011

January 10, 2011 04:38 AM
 

THIS WEEK ON U.S. FARM REPORT
EPISODE #1952
JANUARY 8-9, 2011

AL’S OPEN: HELLO AND WELCOME TO U.S. FARM REPORT, I'M AL PELL. JOHN PHIPPS IS ON ASSIGNMENT AT THE AG CONNECT EXPO IN ATLANTA...WE'LL HEAR FROM HIM A LITTLE BIT LATER IN THE SHOW. WE'VE GOT LOTS TO COVER OVER THE NEXT 60 MINUTES...INCLUDING STOPS IN COLORADO, ARIZONA PLUS A TRACTOR TALES FROM MICHIGAN. AND IN JUST A FEW MINUTES, OUR TEAM OF ANALYSTS WILL BREAK DOWN THE FIRST FULL WEEK OF TRADING IN 2011. BUT FIRST, LET'S GET STARTED WITH THE HEADLINES FROM TRICIA SLOMA.

WHEAT STOCKS: THANKS AL. WHEAT MARKETS WERE ACTIVE THIS WEEK. AT MID-WEEK, THE MARCH CHICAGO CONTRACT CLOSED ABOVE $8.00 A BUSHEL. AND IT MAY NOT STOP THERE. ACCORDING TO THE UNITED NATIONS...GLOBAL GRAIN OUTPUT MUST RISE AT LEAST 2% THIS YEAR TO MEET DEMAND AND AVOID FURTHER REDUCTIONS OF STOCKS. ANALYSTS ARE PREDICTING A SHARP RISE IN GLOBAL WHEAT ACRES THIS YEAR. SOME ANALYSTS PREDICT U.S. GROWERS INTEND TO PLANT 5.5 MILLION MORE ACRES OF WHEAT THIS SEASON. GRAIN MARKETING ECONOMIST KIM ANDERSON AT OKLAHOMA STATE UNIVERSITY, SAYS DESPITE WORLD ENDING STOCKS POURING IN AT THEIR HIGHEST MARK IN FIVE OR TEN YEARS...6.5 BILLION BUSHELS MAY NOT BE ENOUGH TO MEET GROWING DEMAND. HE SAYS THE WORLD IS CONSUMING NEARLY 2 BILLION MORE BUSHELS OF WHEAT THAN IT WAS IN 2006. THAT INCREASING DEMAND JUSTIFY'S A HIGHER WORLD PRICE.

WASDE OUTLOOK: ALSO ON WEDNESDAY, USDA WILL RELEASE ITS SUPPLY-DEMAND REPORT ON MAJOR GRAINS. IN ADVANCE OF THAT REPORT, ALLENDALE INCORPORATED RELEASED ITS ESTIMATES. THE MARKET-RESEARCH AND BROKERAGE FIRM LOWERED THEIR 2010 PRODUCTION AND YIELD LEVELS. AT THE SAME TIME, ALLENDALE INCREASED ITS USAGE FIGURES. ALLENDALE PEGS THE CORN CROP AT 12.51 BILLION BUSHELS. THEIR ANALYSTS PEG CORN YIELD AT JUST UNDER 154 BUSHELS AN ACRE...THAT'S ABOUT A THIRD LESS THAN USDA'S LAST FORECAST. ALLENDALE ALSO PUTS THE CORN CARRYOVER FIGURE UNDER 800-MILLION BUSHELS. AS FAR AS THE SOY CROP, THEIR ANALYSTS ALSO REDUCED THE PRODUCTION FIGURES. WE'LL BE ABLE TO COMPARE THE PRIVATE FORECASTS TO THE AG DEPARTMENT DATA WHEN IT’S RELEASED AT 7:30 CENTRAL TIME ON WEDNESDAY.

ROUNDTABLE: ANDY SHISSLER AND MIKE FLOREZ

JOHN’S WORLD: JOHN IS ON ASSIGNMENT THIS WEEK AT THE AG-CONNECT EXPO IN ATLANTA...BUT BEFORE TAKING OFF, HE OFFERED HIS THOUGHTS ON THE IMPACT OF THE NEWEST COMMUNICATION VEHICLES.

2ND HALF:
AL’S OPEN:
HELLO AND WELCOME TO U.S. FARM REPORT, I'M AL PELL. JOHN PHIPPS IS ON ASSIGNMENT - HE'LL JOIN US LATER FOR HIS MAILBAG REPORT. ALSO, AHEAD THIS HALF HOUR, WE'LL CATCH UP WITH TEMPLE GRANDIN - A CATTLE HANDLING EXPERT WHO CONTINUES TO HAVE A LASTING IMPACT ON AMERICAN AGRICULTURE. AND ARE YOU IN NEED OF SOME "TRACTO" THERAPY? BAXTER BLACK WILL STOP BY TO EXPLAIN. ALL THAT'S AHEAD...BUT FIRST, THE HEADLINES FROM TRICIA SLOMA.

FOOD SAFETY: THANKS AL. AND HELLO EVERYONE. FRESH BACK FROM HIS VACATION, PRESIDENT OBAMA SIGNED THE FOOD SAFETY MODERNIZATION ACT THIS WEEK. THE BIG QUESTION NOW - - WILL IT GET FUNDED BY CONGRESS? THE BILL EXPANDS THE FOOD AND DRUG ADMINISTRATION'S INSPECTION OF FOOD PRODUCTION AND DISTRIBUTION SYSTEMS. IT ALSO GIVES FDA THE AUTHORITY TO ORDER A FOOD RECALL. THE AGENCY CAN ALSO NOW REFUSE FOOD FROM FOREIGN SUPPLIERS WHO DO NOT ALLOW AN FDA INSPECTION. HOWEVER, THE BILL MAY NOT GET FUNDED. WHILE IT PASSED IN THE 111TH CONGRESS, SOME MEMBERS OF THE 112TH CONGRESS DON'T LIKE THE 1.4 MILLION DOLLAR PRICETAG.

UN FOOD PRICES: MEANWHILE, THE UNITED NATION'S FOOD AND AGRICULTURE ORGANIZATION SAYS WORLD FOOD PRICES HIT A RECORD IN DECEMBER. THE FAO SAYS LAST YEAR'S RUN UP IN COMMODITY PRICES ARE FINDING THEIR WAY TO THE SUPERMARKET. THAT REPORTS SAYS PRICES SURPASSED PREVIOUS HIGHS SET IN 2008. THE CURRENT REPORT SAYS IN 2010 PRICES JUMPED UP 25%. THOSE INCREASES WERE DRIVEN BY HIGHER DEMAND FROM CHINA AND A HISTORIC DROUGHT IN RUSSIA.

ETHANOL WALL: NOTED AGRICULTURE ECONOMIST WALLY TYNER SAYS THE UNITED STATES DOES NOT HAVE THE INFRASTRUCTURE TO MEET THE FEDERAL MANDATE FOR RENEWABLE FUEL USE WITH ETHANOL. THE PURDUE UNIVERSITY ECONOMIST PREDICTS THAT THE COUNTRY WILL NOT BE ABLE TO CONSUME MORE ETHANOL THAN IS BEING CURRENTLY PRODUCED. THE FEDERAL RENEWABLE FUEL STANDARD REQUIRES AN INCREASE OF RENEWABLE FUEL PRODUCTION TO 36 BILLION GALLONS PER YEAR BY 2022. RIGHT NOW, IT'S ABOUT 13 BILLION GALLONS. TYNER SAID THERE SIMPLY ARE NOT ENOUGH FLEX-FUEL VEHICLES, WHICH USE AN 85% ETHANOL BLEND. THE ECONOMIST SAYS THERE ARE ABOUT 7 MILLION FLEX FUEL VEHICLES ON THE ROAD. HE ADDS THERE ARE ONLY 2,000 E-85 FUEL PUMPS IN THE U.S. TYNER SAYS EVEN IF YOU PRODUCE A WHOLE BUNCH OF E-85, THERE'S NO WAY TO DISTRIBUTE AND USE IT.

HONEYBEE PROBLEMS: WHILE PRODUCERS DECIDE WHICH CROPS THEY PLAN TO SEED THIS SPRING, GETTING THEM POLLINATED MAY BE TOUGHER THAN EVER. A NEW STUDY SHOWS THAT OVER THE PAST 20 YEARS BUMBLE BEE POPULATIONS DROPPED MORE THAN 90%. THE THREE YEAR STUDY SAYS BUMBLE BEES, LIKE THEIR HONEY BEE COUNSINS, HAVE SEEN MASSIVE REDUCTIONS IN NUMBERS. OF THE EIGHT SPECIES STUDIED...POPULATIONS ARE DOWN 90%. SCIENTISTS ARE LINKING THE CAUSE TO TWO THINGS...A DEADLY PATHOGEN AND A DECLINE IN GENETIC DIVERSITY. IN 2006 HONEY BEES ALSO EXPERIENCED CATASTROPHIC DEATH'S FROM WHAT'S BEEN COINED AS COLONY COLLAPSE DISORDER. DWINDLING NUMBERS OF BEES ARE ALSO REDUCING THE NUMBER OF LARGE BEE KEEPERS TRAVELING THE COUNTRY TO POLLINATE CROPS.

HONEYBEE QUEEN: BUMBLE BEES USED AROUND THE WORLD TO POLLINATE GREEN HOUSE CROPS HAVE BECOME A MULTI-BILLION DOLLAR INDUSTRY. THE U.S. IS HOME TO ABOUT 50 DIFFERENT SPECIES OF BUMBLE BEE.

HEARTLAND: ONE OF THE MOST RECOGNIZABLE CATTLE HANDLING EXPERTS IN THE WORLD CONTINUES TO ADD TO HER RESUME. IN FACT, TEMPLE GRANDIN CAN NOW ADD AN EMMY TO HER LIST OF ACCOMPLISHMENTS. WHAT'S NEXT FOR THIS REMARKABLE INDIVIDUAL? CLINTON GRIFFITHS HAS THE ANSWER...THE HBO FILM WON FIVE EMMY'S, INCLUDING "BEST MADE FOR TV MOVIE" AND "BEST ACTRESS" FOR CLAIRE DANES. WE'LL POST A LINK ON OUR HOME PAGE FOR MORE INFORMATION ABOUT THE MOVIE.

BAXTER BLACK: HAVE YOU EVER HEARD OF "TRACTO" THERAPY? IT'S A TERM COINED BY OUR OLD FRIEND BAXTER BLACK. HE JOINS US NOW FROM HIS ARIZONA RANCH. WHEN WE COME BACK, IT'S TIME FOR TRACTOR TALES AND OUR COUNTRY CHURCH SALUTE...PLEASE STAY WITH US.

TRACTOR TALES: THIS WEEK'S TRACTOR TALES TAKES US TO THE WOLVERINE STATE. WE MEET A COLLECTOR WHOSE INTERNATIONAL 600 WAS SORT OF A TWO FOR ONE DEAL. HIS WIFE HAD A LITTLE SOMETHING TO DO WITH THE TRANSACTION.

CHURCH SALUTE: TODAY'S FIRST COUNTRY CHURCH SALUTE GOES TO THE GRANT STREET CHURCH OF CHRIST IN DECATUR, ALABAMA. CELEBRATING ITS 100TH BIRTHDAY LAST YEAR, THE CHURCH TRACES ITS BEGINNING TO AN EXTENDED TENT MEETING THAT WAS HELD IN NOVEMBER OF 1910. THE PICTURES YOU SEE HERE WERE TAKEN IN 1915 & 1928. THE CURRENT BUILDING WAS CONSTRUCTED IN 1925 AND SITS ON THE EXACT SPOT WHERE THE TENT MEETING WAS HELD 15 YEARS BEFORE. THE PICTURE YOU SEE HERE WAS TAKEN LAST YEAR AS THE CONGREGATION GATHERED TO CELEBRATE ITS 100 YEAR ANNIVERSARY. OUR THANKS TO CHARLES RILEY FOR SENDING US THE INFORMATION.  CELEBRATING ITS 150TH BIRTH IN 2010 WAS THE WAYNESFIELD UNITED METHODIST CHURCH IN WAYNESFIELD, OHIO. THE CHURCH WAS ORIGINALLY FORMED BY 20 MEMBERS IN MAY OF 1866. TODAY THE CHURCH SUPPORTS A NUMBER OF MINISTRIES, INCLUDING A FREE WEEKLY COMMUNITY MEAL CALLED "THE HARVEST OF HOPE" AND A CLOTHING MINISTRY CALLED "THE HOPE CHEST". OUR THANKS TO DIXIE BENNETT FOR TELLING US ALL ABOUT HER CHURCH. 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 - THE MAILBAG IS NEXT.

OHIO BARN: TIME NOW FOR OUR WEEKLY LOOK INSIDE THE FARM REPORT MAILBAG. BEFORE TURNING THINGS OVER TO JOHN, WE WANTED TO SHOW YOU A REALLY NICE PHOTO THAT CAME TO US FROM OHIO.  ALVIN AND DIANE BERNING SENT US THIS PICTURE OF A 104-YEAR-OLD BANK BARN THAT'S BEEN IN THEIR FAMILY SINCE 1951. THE BARN IS LOCATED IN SHELBY COUNTY, IN THE WEST CENTRAL PART OF THE STATE. OUR THANKS TO THE BERNING'S FOR SHARING THIS BEAUTIFUL BARN WITH US. JOHN JOINS US NOW WITH HIS MAILBAG UPDATE.

CONTACT PAGE: AS ALWAYS, WE WANT TO HEAR FROM YOU, SEND COMMENTS TO INFO@USFARMREPORT.COM OR LEAVE US A VOICE MAIL AT 800-792-4329.


 

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