AgDay Daily Recap -July 24, 2017

AND WHILE THE ANSWER TO THAT QUESTION ISN’T CLEAR CUT, FARMERS LIKE VITKO HOPE THE PRODUCTS’ GOOD OUTWEIGH THE BAD, MAKING DICAMBAA VIABLE OPTION FOR YEARS TO COME.

CHINA ALLOWING U.S. RICE IMPORTS
AGRICULTURE SECRETARY SONNY PERDUE ANNOUNCING THE USDA HAS REACHED A FINAL AGREEMENT WITH CHINA TO ALLOW U.S. RICE GROWERS TO BEGIN EXPORTING TO THAT COUNTRY FOR THE FIRST TIME. PERDUE SAYS THE AGREEMENT HAS BEEN IN THE WORKS FOR MORE THAN A DECADE, AND REPRESENTS “AN EXCEPTIONAL OPPORTUNITY” WITH POTENTIAL FOR GROWTH IN THE FUTURE. CHINA IS THE WORLD’S LARGEST PRODUCER AND CONSUMER OF RICE. SINCE 2013, IT HAS ALSO BEEN THE LARGEST IMPORTER, WITH IMPORTS REACHING NEARLY FIVE MILLION TONS LAST YEAR. WHEN THE NEW RICE PROTOCOL IS FULLY IMPLEMENTED, THE U.S. RICE INDUSTRY WILL HAVE ACCESS TO CHINA. THE USA RICE FEDERATION EXPECTS THE FIRST SHIPMENTS TO CHINA BEFORE THE END OF THE YEAR.

CROP COMMENTS
NOW TO FARM COUNTRY AS MIKE HOFFMAN WALKS US THROUGH TODAY’S CROP COMMENTS. GOOD MORNING. GOOD MORNING CLINTON. DAN ALLRED OF CORYDON, IOWA TWEETED OUT A PHOTO OF OAT HARVEST. HE’S PLEASED WITH THE YIELD OF 75 BUSHELS AN ACRE. LAST MONDAY’S CROP PROGRESS REPORT SHOWED 18-PERCENT OF THE IOWA OAT CROP WAS HARVESTED. IT’S USUALLY 30-PERCENT BY NOW. AND WE ALSO HEARD FROM THE FOLKS AT EAST EDEN FARMS . THEY’RE ON THEIR SECOND CUTTING OF HAY IN SARATOGA COUNTY, NEW YORK. MEANWHILE “NASS” SAYS 75-PERCENT OF THE RANGE AND PASTURELAND IN NEW YORK STATE IS GOOD TO EXCELLENT. ...AND NOW HERE ARE SOME HOMETOWN TEMPS. THIS IS MACHINERY PETE - INVITING YOU TO CHECK OUT MY NEW WEBSITE - MACHINERYPETE.COM - OFFERING FARMERS TENS OF THOUSANDS OF USED EQUIPMENT LISTINGS TO SEARCH. LET MACHINERY PETE HELP YOU FIND AND VALUE YOUR NEXT PIECE OF USED EQUIPMENT.

TEASE
WHEN WE COME BACK WE’LL CONTINUE ON THE TOPIC OF WEATHER AND WHAT IT COULD MEAN TO PRODUCTION THIS YEAR AND IN TURN PRICES. PLUS, STAY TUNED FOLKS COMING UP MY LATEST MARKET REPORT USED FARM MACHINERY VALUES. AND WE’RE HEADED TO OKLAHOMA TO MEET A YOUNG PRODUCER WORKING HARD TO BUILD ON HIS FAMILIES LEGACY.

AGRIBUSINESS
WEATHER CONTINUES TO BE FRONT AND CENTER AS TRADERS WORK TO CALCULATE THE U.S. CROP. TYNE MORGAN HAS MORE IN TODAY’S ANALYSIS. HERE NOW WITH MATT BENNETT OF BENNETT CONSULTING MATT WE KNEW IT WAS GOING TO BE ALL ABOUT THE WEATHER RIGHT NOW WITH THESE MARKETS AND THAT’S EXACTLY WHAT WE’RE SEEING. BUT IT JUST SEEMS LIKE THE AREAS THAT DON’T NEED THE RAIN ARE THE ONES THAT ARE THAT ARE GETTING IT RIGHT NOW. ABSOLUTELY. YOU KNOW I TOOK A LITTLE DRIVE WITH MY FAMILY THIS PAST WEEKEND OVER TO CEDAR POINT OHIO SAW A LOT OF REALLY WET FARM GROUND NORTH OF INDIANAPOLIS ALL THE WAY OVER TO CEDAR POINT. YOU KNOW A LOT OF WATER STANDING. A LOT OF OFF COLOR CROPS. CORN WAS VERY VARIABLE. LOOK LIKE AN OCEAN OUT THERE WITH A WAVINESS A LITTLE BIT OF A CONCERN FOR ME. I THINK THAT THOSE GUYS ARE KIND OF BEHIND THE EIGHT BALL I FEEL FOR THEM BECAUSE IT’S REALLY TOUGH TO COME BACK FROM THAT KIND OF A WEATHER SITUATION. BUT ILLINOIS ISN’T AN UNTOUCHED I MEAN IT’S NOT IMPRESSIVE EVERYWHERE IN ILLINOIS EITHER. ABSOLUTELY NOT. THE REALLY INTERESTING THING WITH ILLINOIS IS YOU’VE GOT YOU KNOW THE HAVES AND THE HAVE NOTS AND THE HAVES COULD HAVE ONE HECK OF A CROP. YOU KNOW WE CAN HAVE A REALLY GOOD CROP IN PLACES WE CAN’T LOSE SIGHT OF THE FACT THAT WE HAD A TON OF WEATHER ISSUES THIS SPRING THAT DID NOT LAY THE PROPER FOUNDATION TO HAVE A HUGE CROP. SO EVEN THE REALLY GOOD AREAS ARE PROBABLY NOT GOING TO BE LIKE 2014 TYPE YIELDS. BUT AS FAR AS THE REALLY BAD AREAS YOU’RE PROBABLY LOOKING AT YOU KNOW MAYBE EVEN A 2012 TYPE SITUATION BECAUSE THEY HAD A REALLY BAD SPRING AND THEN THEY JUST HAVE NOT BEEN ABLE CATCH THE RAIN. I’VE HEARD SOME AGRONOMISTS THAT SAID YOU KNOW WE STARTED OFF SHAVING THE TOP END YIELD OFF JUST BECAUSE OF THE ROUGH START THAT WE HAD. SO BASED ON THAT I MEAN WHAT ARE YOU WHAT WHAT ABOUT IOWA. HOW GOOD DO YOU THINK IS IOWA. IT JUST DEPENDS WHERE YOU’RE OUT IN IOWA YOU GET IN NORTHWESTERN IOWA OBVIOUSLY THEY’RE DRY. THEY’VE HAD SOME ISSUES. A LOT OF PEOPLE SAY NORTHEASTERN IOWA COULD BE REALLY REALLY GOOD SOUTHWESTERN IOWA NOT TOO BAD. BUT BOTTOM LINE YOU’RE LOOKING AT A LOT OF VARIABILITY. THEY NEED TO GET SOME RAIN HERE SOON. SO BASED ON ALL OF THAT VARIABILITY WHAT NATIONAL YIELD ARE YOU GOING WITH RIGHT NOW. PERSONALLY I’M IN THE LOW 160S AT THIS POINT A LOT. I DON’T THINK THAT I CAN GET TO 165 AT THIS POINT UNLESS WE HAVE MAJOR JUST REALLY GOOD WEATHER FROM HERE ON FORWARD AND THEN AS FAR AS SOYBEANS GOES TOO EARLY TO TELL. YEAH BUT IN CORN THAT WOULD PUT SOME FIREWORKS IN THE MARKET POSSIBLY. YEAH. ALL RIGHT. MATT BENNETT WITH BENNETT CONSULTING. STAY WITH US. WE HAVE MUCH MORE AGDAY WHEN WE COME BACK. AGDAY - BROUGHT TO YOU BY TOP THIRD AG MARKETING. FARMER-FIRST, WITH A PLAN FOR EVERY MARKET.

WEATHER
WELCOME BACK TO AGDAY HERE WITH METEOROLOGIST MIKE HOFFMAN. MIKE AS WE LOOK AT RAINFALL OVER THE PAST WEEK THAT DROUGHT AREA OF THE NORTHERN PLAINS, THERE WERE SOME SPOTS THAT DID GET SOME RAIN SHOWERS. YEAH THERE WERE SOME OF THE THUNDERSTORMS COMPLEXES FORMED EAST OF THEM BUT THERE WERE SOME OBVIOUSLY THAT DID GET TO AREAS. YOU CAN SEE MOST OF THE MISSOURI VALLEY SOUTHERN PLAINS DIDN’T GET A WHOLE LOT THOUGH. YOU CAN SEE THE SOUTHEAST AND THE MID-ATLANTIC. GET THOSE AFTERNOON VARIETY SHOWERS AND THUNDERSTORMS OCCASIONALLY SO THEY ENDED UP WITH DECENT AMOUNTS. MOST OF THE WEST. NOT A DROP IN THOSE AREAS. LET’S GO INTO THE NORTHERN PLAINS WESTERN PORTIONS OF THE CORN BELT. YOU CAN SEE THE POCKETS ONE POCKET THERE SOUTH CENTRAL NEBRASKA. A LITTLE POCKET NORTH CENTRAL NEBRASKA AND THEN YOU CAN SEE ALONG THE SOUTH DAKOTA NORTH DAKOTA BORDER THERE WAS A COMPLEX THAT GAVE SOME PRETTY DECENT AMOUNTS AND THAT TRACK WAS KIND OF THROUGH NORTHEAST IOWA SOUTHERN MINNESOTA SOUTHWESTERN WISCONSIN INTO PARTS OF ILLINOIS INDIANA AND ENDING AS IT MOVED OVER OHIO. THAT’S WHERE THOSE COMPLEXES OCCURRED FROM THIS PREVIOUS SATURDAY TO JUST THIS PAST FRIDAY. NOW TAKE A LOOK AT THE JET STREAM YOU CAN SEE AS WE HEAD INTO THIS WEEK ANOTHER TROUGH BRINGING A COOL SHOT OF AIR TO THE GREAT LAKES NORTHEASTERN PLAINS INTO THE NORTHEAST. THAT WILL MOVE ON BY IT’LL TRY TO WARM UP ANOTHER LITTLE SHOT. KIND OF COMES INTO THE NORTHERN GREAT LAKES BY WEDNESDAY. AND HERE’S WHERE THINGS. IT’S NOT LIKE THAT PATTERN CHANGES DRAMATICALLY BUT IT DOES LOOK LIKE AS WE HEAD THROUGH NEXT WEEKEND AND INTO THE FOLLOWING WEEK YOU’LL NOTICE HOW WE TRY TO SEE THIS RIDGE COME EAST. BUT THEN IT REALLY GETS SHOVED BACK TO THE WEST AND LOOKS LIKE A BIG COOLDOWN COULD OCCUR ABOUT A WEEK FROM NOW INTO THE NORTHERN PLAINS. WE’LL WATCH THAT. THIS COULD CHANGE A LITTLE BIT BUT THAT IS KIND OF SHOVING THE RIDGE BACK TO THE WEST A LITTLE BIT MORE THAN WE’VE SEEN OVER THE PAST MONTH OR SO. SO TEMPERATURES THIS WEEK I’M GOING ABOVE NORMAL FOR MOST OF THE CENTRAL SOUTHERN PLAINS INTO THE SOUTHEAST. ABOVE NORMAL FOR MOST OF THE DAKOTAS ESPECIALLY NORTH DAKOTA INTO THE SOUTH CENTRAL PORTIONS OF CANADA AND THROUGHOUT THE WEST. NEAR-NORMAL HERE IS BECAUSE THOSE AFTERNOON VARIETY SHOWERS AND THUNDERSTORMS KIND OF KEEPS TEMPERATURES DOWN ON AVERAGE BELOW NORMAL. AND FOR THE GREAT LAKES PENNSYLVANIA DELAWARE NORTHEASTWARD INTO EASTERN CANADA. PRECIPITATION THIS WEEK ABOVE NORMAL FROM ABOUT ST. LOUIS ALL THE WAY THROUGH THE SOUTHEAST. ALSO THE EASTERN LAKES INTO THE NORTHEAST AND ALSO THE FAR SOUTHWEST. BUT THEN YOU GET FROM NORTH DAKOTA TO THE WEST AND YOU GET FROM EASTERN KANSAS SOUTHWARD PROBABLY BELOW NORMAL. 30 DAY OUTLOOK FOR TEMPERATURES ABOVE NORMAL FROM THE SOUTHEAST THROUGH THE CENTRAL PLAINS CENTRAL MISSISSIPPI VALLEY INTO THE NORTHWEST BELOW NORMAL FOR THE SOUTHWEST IN THE FAR NORTHEAST. PRECIPITATION THEN ABOVE NORMAL IN THE SOUTHEAST AND SOUTHWEST. BELOW NORMAL IN THE NORTHERN PLAINS NEAR NORMAL FOR MOST OF THE CORN BELT. THAT’S A LOOK ACROSS THE COUNTRY. NOW LET’S TAKE A LOOK AT SOME LOCAL FORECASTS. HEADING TO MORECROFT WYOMING FIRST OF ALL A VERY WARM THUNDERSTORM AND A FEW SPOTS HIGH OF 95. OTTUMWA IOWA MOSTLY SUNNY AND NOT AS HOT. HIGH OF 82. AND FINALLY FLORENCE SOUTH CAROLINA HOT AND HUMID AFTERNOON STORMS AROUND HIGH OF 93.

TEASE
MACHINERY PETE IS DIGGING INTO THE DATA FOR A LOOK AT EQUIPMENT VALUES AND TRENDS. HE JOINS US NEXT . AND LATER, THIS OKLAHOMA WHEAT GROWER AND CATTLEMAN IS NOW AN AWARD WINNER. WE’LL TELL YOU WHY...ON IN THE COUNTRY. ARE YOU A GAME CHANGER? KNOW SOMEONE WHO IS? CHEVRON IS SEARCHING FOR THOSE PEOPLE THAT HAVE MADE AN IMPACT ON THE INDUSTRY. SHARE YOUR NOMINEE AT CHEVRONDELO DOT COM SLASH GAME CHANGERS! DELO: LET’S GO FURTHER.

MACHINERY PETE
“MACHINERY PETE IS BROUGHT TO YOU BY JOHN DEERE…WHERE CAN YOU FIND THE MOST COMPREHENSIVE INVENTORY OF JOHN DEERE CERTIFIED PRE-OWNED TRACTORS, COMBINES AND SPRAYERS? MACHINE FINDER-DOT-COM … SOMETIMES THE BEST NEW ADDITION TO YOUR FLEET ISN’T NEW!"WE’VE HEARD A LOT ABOUT THE SPUTTERING FARM ECONOMY. THIS MORNING MACHINERY PETE SHOWS US HOW USED EQUIPMENT PRICES ARE HOLDING UP. GREG. WELL SIX YEARS AGO I CREATED A NEW QUARTERLY REPORT CALLED IT MY MACHINERY PETE USED VALUES INDEX AND IT’S JUST BASED ON ALL THE AUCTION PRICES I’VE BEEN COMPILING FOR 27 YEARS NOW. NOW WE JUST RELEASED OUR SECOND QUARTER 2017 REPORT. YOU CAN SEE A PICTURE OF IT HERE. VERY SIMPLE GRAPH ON MY 1 TO 10 RATING SCALE. YOU CAN SEE SECOND QUARTER JUST A LITTLE BIT OF A DROP DOWN FROM MY 6.7 RATING IN THE FIRST QUARTER TO 6.6 IN THE SECOND QUARTER. AND THIS GRAPH ENCAPSULATES ALL TYPES TO USED FARM MACHINERY. NOW A LITTLE PERSPECTIVE HERE. SECOND QUARTER ON THE CALENDAR YEAR FROM APRIL THROUGH JUNE HAS ALWAYS BEEN THE SOFTEST TIME OF YEAR FOR AUCTION PRICES IN FACT FROM 2005 THROUGH 2015 11 CALENDAR YEARS IN A ROW. SECOND QUARTER OVERALL INDEX FELL AND IT FELL BY AN AVERAGE OF POINT FOUR POINTS. SO THIS YEAR IN 2017 TO ONLY FALL POINT ONE POINT TO ME IS FURTHER PROOF OF THE FOOTING WE FOUND WITH USED FARM EQUIPMENT VALUES. AND ACTUALLY IF YOU LOOK AT THIS GRAPH GO BACK TO THE FIRST QUARTER OF 2016 ACTUALLY THE SAME EXACT RATING 6.6 THAT WE’RE AT RIGHT NOW. SO THAT’S 18 MONTHS OF HOLDING USED FARM MACHINERY VALUES AND THIS IS WHY I SAY FOR THE REST OF THE YEAR IF YOU’RE ABLE. STILL A WONDERFUL OPPORTUNITY TO UPGRADE INTO LATE MODEL EQUIPMENT. SO GIVE YOUR LOCAL DEALER A CALL. WHEN WE COME BACK, BUILDING A FUTURE IN OKLAHOMA.

IN THE COUNTRY
IN THE COUNTRY - BROUGHT TO YOU BY KUBOTA. CHECK OUT KUBOTA’S RTV-X-1140, A RUGGED UTILITY VEHICLE WITH SEATING FOR FOUR. SYOP BY YOUR LOCAL DEALER TODAY, OR VISIT KUBOTA.COM. EACH YEAR, OUR PARTNERS AT TOP PRODUCER MAGAZINE AWARD A YOUNG PRODUCER UNDER THE AGE OF 35--THE TOMORROW’S TOP PRODUCER HORIZON AWARD. THIS YEAR IT GOES TO CODY GOODKNIGHT OF CHATTANOOGA, OKLAHOMA. BETSY JIBBEN HAS HIS STORY. SWAYING WHEAT WAITS TO BE CUT AS THE HUM OF CODY GOODKNIGHT’S COMBINE ROLLS THROUGH THESE OKLAHOMA FIELDS. FOR HIM, HARVEST IS NOT ROUTINE, IT’S TRADITION. THIS FAMILY HAS WORKED THESE SOILS FOR FIVE GENERATIONS. “IT’S IN OUR BLOOD. WE CAN’T GET RID OF IT. IT’S JUST SOMETHING WE REALLY REALLY ENJOY,” THE CHATTANOOGA PRODUCER WHO HOLDS THE REINS OF GOODKNIGHT FARMS IS BUSY WORKING WITH HIS CREW. NEARBY, A MAN WHO FARMED BEFORE HIM. YOU CAN SEE JOHN IN HIS PICKUP, WE MIC’ED HIM UP WHEN HE SAT IN THE VEHICLE. “I NEVER GET AWAY FROM IT,” IT’S CODY’S FATHER, JOHN, PIONEEERED THE FARM’S FORAY INTO WHEAT, COTTON, SESAME, SORGHUM, SOYBEAN, AND GRASSLANDS FOR THEIR CATTLE. ONE OF THE FIRST IN THE COMMUNITY TO NO-TILL...CURIOUS ABOUT CONSERVING MOISTURE AND MAINTAINING HIS SOIL DURING THESE DUSTY OKLAHOMA SEASON. LESSONS CODY INHERITED, PASSED ON FROM HIS FATHER’S PASSION. “NOT ONLY HAS HE FOLLOWED IN MY FOOTSTEPS, HE’S EXCEEDED IT.""WE ARE NEVER COMPLACENT, WE’RE NEVER HAPPY ABOUT WHERE WE’RE AT, WE ALWAYS THINK THERE’S A BETTER WAY TO DO THINGS. WE DON’T JUST WANT TO COAST. WE ALWAYS WANT TO BE IMPROVING. AND I LEARNED THAT FROM HIM,"> BUT THE REAL WORK STARTS WITH NEVER LEAVING LAND BARE. AND COVER CROPS ARE HELPING. “ONE REASON WE GROW IT IS TO HELP BREAK UP COMPACTION,"GOODKNIGHT PLANTS MOST ROW CROPS EXCEPT FOR COTTON IN 15 INCH ROWS. “THE REASON WE DO 15 INCH ROWS IS TO GET THE GROUND COVERED SOONER, MORE SHADE IN THE GROUND."AND THEY USE STRIPPER HEADS DURING WHEAT HARVEST, TAKING GRAIN AND LEAVING THE STRAW STANDING.. “ANOTHER BIG BENEFIT IS JUST SHADE AND WIND AND WATER EROSION PROTECTION FOR US IN NO TILL VERSUS HAVING THE STRAW CUT AND LEFT BARE,""RIGHT NOW, WE ARE HARVESTING ABOUT 7 MILES AN HOUR, WITH THE CONVENTIONAL HEADER, WE’RE HARVESTING 3 AND A HALF TO FOUR MILES AN HOUR,"WHILE CODY HAS GROWN THESE VISIONS - HE HAD A NICE JUMP-START. HIS DAD, JOHN DEVELOPED A CERTIFIED SEED WHEAT BUSINESS WHICH HAS BEEN A STAPLE OF THE OPERATION FOR MORE THAN 25 YEARS, ANNUALLY, ROUGHLY 40 THOUSAND BUSHELS OF SEED SOLD TO 50 GROWERS. THE NUMBER FLUCTUATING THOUSANDS DEPENDING ON THE CASH WHEAT MARKET AND DEMAND. “IT CERTAINLY GAVE US A NICHE IN THE MARKET. OUR SEED WHEAT PRICE DOESN’T FLUCTUATE AS MUCH AS NORMAL COMMODITY PRICES AND IT GIVES A PREMIUM FOR OUR WHEAT,"GOODKNIGHT SAW HOW HIS DAD ADDED VALUE IN WHEAT AND WANTED TO MIRROR SIMILIAR SUCCESS WITH THE LIVESTOCK SECTOR HE ENVOLVED AND CHANGED THE COW-CALF OPERATION TO AI-ING HEIFERS WITH HIGH END GENETICS. “I WANTED TO DO THE SAME THING WITH HEIFERS. I WANTED TO RAISE SEED STOCK HEIFERS FOR OTHER PEOPLE TO PURCHASE FROM ME,"AND IT’S IN THESE FIELDS AT HARVEST... THE FAMILY AND CREW TAKE TIME, EVERY NIGHT TO GIVE THANKS. “YOU JUST REMEMBER WHAT YOU’RE FIGHTING FORPARKING THE MACHINERY.. A MOMENT TO SLOW DOWN “IF ALL YOU’RE EVER DOING IS WORKING AND SLAVING AWAY FROM DAYLIGHT UNTIL DARK, WHAT’S THE POINT?"TO SHARE A HOME-MADE MEAL AND BE TOGETHER... ". WE TAKE TIME TO ENJOY OURSELF AND STOP TO SMELL THE ROSES YOU MIGHT SAY,"BECAUSE FARMING THROUGH OKLAHOMA’S UNPREDICTABLE WEATHER IS NOT FOR THE FAINT OF HEART. THEY’RE GRATEFUL FOR EACH YEAR THE WHEAT DANCES INTO HARVEST... BRINGING PROMISE OF A FUTRE AND PLANTING SEEDS FOR THE NEXT GENERATION... REPORTING IN CHATTANOOGA, OKLAHOMA, I’M BETSY JIBBENCONGRATS TO CODY AND HIS FAMILY.

CLOSE
THAT’S ALL THE TIME WE HAVE THIS MORNING. WE’RE GLAD YOU TUNED IN. FOR MIKE HOFFMAN, AND ALL OF US AT AGDAY. I’M CLINTON GRIFFITHS. HAVE A GREAT DAY. AGDAY IS POWERED BY RAM TRUCKS - AMERICA’S LONGEST LASTING PICKUPS.