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FOX
May 16, 2010 4:00am EDT
china, china, china...corn growers can't stop watching >>> today on u.s. farm report china, china, china. corn growers can't stopwatching this customer. bay producers adjust to environmental scrutiny. tallying up the losses from the massive flood. u.s. farm report brought the you by chevy. >>> el low and welcome to u.s. farm report. i'm john -- the result so far as to cause have been it wasn't me. seriously, not only do we not know why the dow plunged nearly 1,000 points points in three minutes we find out we don't know how much the markets work. we've added so many new trades, it is now officially incomprehensible. this is confidence inspiring to say the least. so when you see that standard warning about risks in the markets we show every week, i would take it seriously. time for headlines now. here's al pell. >> thank you, john, good morning everyone. for the second time in less than a month, china is in the market for american grown corn. china placed an order for -- tons this week, just after buying 100,000-tons. the purchase was made on tuesday night and is destined for feed
FOX
May 9, 2010 4:00am EDT
that need to be attended to as well. >> what's happening in china makes a lot of difference too, don't you think? they've been buying more than they used to. >> absolutely. china, they've been involved. we have known the soybean story for a while. certainly, they're looking at the corn side of the thing. that's probably the elephant in the room. first of all, is it going to get delivered? second, is there more? >> okay. we'll be back to talk about more elephants in the room when we return with more u.s. farm report. bestselling author. her teachings are heard all over the world every single day. she has overcome horrible abuse yet discovered how to forgive and now, she's coming your way. joyce meyer -- her no-nonsense approach to everyday issues has made her one of the most sought-after speakers in the world today. don't miss out on this unique opportunity to see joyce meyer live. for more information visit us online at joycemeyer.org or call toll free: 1-866-see-joyce. >>> round table guests this week. you were the one that brought it up. you're talking about the ill the ill front ele
FOX
Nov 21, 2010 4:00am EST
about out of china was they are very, very, very concerned about inflation in china right now. this is the most pressure that i think i've ever seen maybe in any market where they've taken that much food inflation and pumped it up to the degree that they have. this week, believe it or not, corn was down 20 today, but china corn hit 950. so the commodity exchange, earlier in the week, the up prices has got china trying to figure out a way to make these prices going down. people in china are spending half of their income on food. it's a huge hit to take. their president talked about it. they raised the federal reserve rate by .5. they're trying drastically to knock food braces praise -- prices down. >> some of the guys in your business say china is doing that because if they can get us to lower our corn prices, they're going come in and buy more corn. is that what's happening or are they trying to take care of what's happening in their country? >> well, this is the first year that the demand is higher than what they can produce. >> in china? >> in china. i think it would be close to 1
FOX
Mar 6, 2011 4:00am EST
surprise but china is a bright spot for trade. the export council said they purchased 320,000metric tons of milk powder last year. as spring draws near many farmers in the central and southern plains are concern ford their winter wheat crops. the u.s.d.a. released progress reports in kansas, oklahoma oak and texas. in texas 56% is called poor to very poor with 26% fair and in oklahoma 42% poor to very poor, 39% is fair. many of the areas suffered through arctic cold temperatures with little snow cover to protect the crops. >>> that's it for the headlines. now back to al for crop watc ♪ [ music ] >> crop watch this week take us from the still frozen midwest down to florida where field work is underway. a producer from iowa said there is talk of spreading fertilizer next week if the ground is still proceedsen. they finally had a round of nice days. for florida familiarers good weather conditions are allowing growers to till land. the conditions statewide remain mostly fair to poor. and in ohio winter wheat looks good. it's also very wet. rivers are out of their banks. >>> when we come ba
FOX
Jun 27, 2010 4:00am EDT
>> today on u.s. farm report. china imports u.s. corn for the first time in 15 years. meanwhile, more of the soy crop is headed to asia as well. u.s. farm report. brought to you by chevy and their award winning cars, trucks and cross overs. >> hello and welcome to the u.s. farm report i'm john. thanks to a lot of warm weather and an early start we have set a record for the earliest planted field. i had seen other silking a full week earlier, given the the forecast for summer, this could be a early corn harvest. a september start would be welcome this year. heck we would skip a late august vacation to get going. >> here is al. >> thanks john. the world's most populated country has a big appetite and the u.s. is in a great position the meet that demand. for the first time american corn was unloaded in china this week. according to the u.s. grains counsel the vessel cleared customs without delay. they placed orders last month and it signals that china will be in the market for more. a leader for the american soybean association said china should not be dismissed in it's importance
FOX
Jun 6, 2010 4:00am EDT
than $10.5 billion, china was the biggest buyer for the first half of the fiscal year. experts believe asia will overtake the western hemisphere as the largest market for u.s. exports. other commodities slowing growth include white, rice, and cotton. dairy and poultry are also showing modest gains. farm land values continue to show strength and the market may get even more active. the federal reserve bank in chicago, which covers six states, reports farm land values climbed 4% from a year ago. the kansas city fed saw farmland values increase by 2% in that district. a recent survey reveals aggressive buying by farmers. >> at 15% now, plan on buying more farm land or acquiring for land through leases, so this market is going to get more active going forward, and that seems to make sense. we've gone through a period of some fear in 2008, early 2009, and now we've seen this market gaining more confidence. when you look at the largest farmers, those with the gross income of farming of over a million dollars. it's 20% that say they want to acquire more land, and that's not a surprise. >> aus
FOX
Jan 16, 2011 4:00am EST
soybeans is now 140 million bushels down 25 million from december. strong demand from china continues to eat away at supply. add it up, and it appears the battle for acreage will be fierce this spring. >> the big picture, guys, the big picture is that the market has not done enough to buy corn acres for 2011 seeding and soybeans aren't just going to willingly hand those acres off not with 140 million bushel beginning stocks. there's no cushion on the supply side going into the 2011 season for corn or for soybeans. as a result of that, these markets are going to be fighting for every acre that they can get ahold of between now and the spring planting season and with an acreage battle setting up like it is right now, we've got to expect some better new crops, marketing opportunities in the weeks and months ahead. for the he had tors of pro farmer in cedar falls, iowa, i'm chip flory. >>> a top economist at the usda believes the bull market will create more crop acreage in 2011. speak at the american farm bureau convention in atlanta, he says as many as 10 million more acres could come into
FOX
Nov 22, 2009 4:00am EST
[ indiscernible ] essentially finished harvesting corn in china, so a pretty good idea on what their numbers are over there. their crop is going to get smaller. and australia, their crop is going to be smaller. so you've got some good support in the matters and o -- markets and this craziness in the dollar. >> we have seen a lot of [ indiscernible ] come back. we have seen a lot of this influx because people [ indiscernible ] i think it's a legitimate worry. one of the things i think some of the people are missing out there, i was at a party in chicago for [ indiscernible ] a member of the board of trade, [ indiscernible ] but at this party were a lot of veteran traders. virtually -- with very few exceptions, big yields. [ indiscernible ] i continued to argue that we have lost a lot in the quality. and yes, there's a lot of grain, [ indiscernible ] going to be grain everywhere but how much is going to be useable between the bdg problem. all kinds of things. i believe a useable supply of grain is [ indiscernible ] >> so what you're saying is [ indiscernible ] an exceptional yield this
FOX
Feb 28, 2010 4:00am EST
bulls only last so long. >> and alan greenspan financial exsue ambulance. my eyes are on the china markets. the china exchange is significant rallies, over 120% this year. >> it's just growing. >> it's just growing and because their economy has been extended for an extended time period and they're getting ready for the olympics and one question is what happens after the olympics and does the estimation make themself look good prior to 2008. could they have a little slip in '09, '10. so when they have their natural economic recessions on demand, how is that going to happen? ethanol has been basically the darling of the corn market and biodiesel for beans but now it's blamed for everything and you got an energy bill that can't be passed and could we have a flooding of the corn curb out in 2009 and 2010. >> that has to happen in the meantime. is that part of it? >> and at the same time you've got crude oil, all time record highs with gasoline still below $3. there's a disconnect between gasoline and crude oil. there's going to be a spring back effect but the economy is not being affec
FOX
Nov 15, 2009 4:00am EST
sold the south koreans some corn, but the origins were u.s., south america, or china. so that's that. so i mean, this program right now, to me, like in corn, they're going to miss in thing by a couple hundred million bushels. >> what do you think the government has? do you think the government is going to be low or high? >> i think it will be down about 1-9 in corn. the government took off a half here on the report tuesday. and i think that you know, the yields will probably stay pretty much the same. the beans will probably uptake a little bit from here. so that was that storiment but the bigger story was really this black mold, this -- >> the toxin. >> it hit the market yesterday. that -- that is the, you know, that's the thing that comes out of left field on you. and the spreads look like they're going to do the function on it if it is -- and if it is anything that's substantial for maybe three or four weeks, at the most, i can't imagine that thing becoming more than that and some of the earlier planted corn was probably the thing that did it in ohio and indiana. >> mike, would it
FOX
May 23, 2010 4:00am EDT
wanted to ask. what are those questions? >> the european markets are affecting china. they're trying to cool down their economy and tighten up their credit. is this going to affect your -- who ultimately buys their corn. how do you feel about their demand situation? is it going to be a sharp growth? how do you think it's going affect corn? >> certainly if we see europe go into a continuen'ting wide -- it's going to affect china. so from 2007 to 2009 and early 10 when we had the worst whatever we call what we just went through. sure, we saw china's economy slow down. we saw it close to 6% growth. the rest of the world would have loved to have% growth. i believe we're going to see some sort of continent wide growth. ireland, iceland, a lot of these lesser -- less wealthy european countries have been the drivers of growth. they tier ones that are going to slow down. i think they're going to slow that continental growth down. that's going to hurt china's economy. we're talking about maybe, again, 3, 4% growth, which we should still see sustained growth in their incomes, protein demand, meat
FOX
Feb 7, 2010 4:00am EST
talking about corn, i'm going to go to you for beans so you can go ahead but china has been a big buyer of beans but one of these days they are going to start buying them from brazil and argentina. you told me earlier their price was $14 less than the united states. >> yeah, this week alone it dropped that much. >> okay. per ton or bushel. >> per ton. the spread is getting beneficial for them to start witching their purse purchases, whether they switch old or new purchases. >> go ahead. >> that's not the end of the world though, that everything switches down there. because one of the things you see is we have this homongous demand from china, and we did all these things so our carry out actually at this point from that standpoint it's pretty good for prices but when we switched down to south america and they start buying all these beans they use a lot of futures in the u.s. to hedge them. we still get the end pricing on the floor of it even though they purchase it in south america. we need to have them do it is still come along and make a purchase in south america and be able to use as
FOX
Nov 29, 2009 4:00am EST
exporter isn't in the market at all, argentina, and china is building reserves, you have the potential to still seek some better prices at this time. so, you know, china is not happy with us and neither is brazil with the dollar going down because we're so competitive against china and also for brazil for their pricing of their beans. but in the meantime i think that we're gonna see some chances for much better prices in corn, you're gonna have an acreage fight this year, this last year you didn't because the ethanol industry was suffering but that's back on track so as screws stands it holds its ground here and one way to kind of keep an eye on these commodities is the balance particular dry states. we have hit 6-month highs and we're not superfar from where we were in '08. >> i see you nodding. >> quite a bit i agree with but the u.s. is starting to come under a lot of pressure to do something about the value of the dollar. >> at the g20 where the dollar isn't the standard any longer. >> yeah. >> a lot of that pressure is coming out of europe and it's because of china's peg
FOX
Feb 20, 2011 4:00am EST
>>> today on u.s. farm report. incredible demand from china equals a new best customer for american agriculture. it's a sign of strong economic times as big green reports big profits. and our team of analysts draw a packed house at the national farm machinery show. >> u.s. farm report brought to you by the world of farming is changing. be ready with case ih and by chevy and their award winning cars, strucks, and crossovers. >>> hello and welcome to u.s. farm report. i'm john. well it wasn't quite a drunken sailor atmosphere, but optimism was abundant, along with an appetite for technology and power at the farm machinery show. temperatures in the 70s added to the excitement. i was no exception as i waited for a half hour just to get an estimate for a new workshop i have long desired. not for myself, of course, but for something i can attach a new greenhouse for my beloved wife, jan. spring fever has many symptoms, i guess, and obviously some of them are economic. time now for the headlines. here's trisha. >> thanks, john. the export outlook for american agriculture is only getting br
FOX
Oct 2, 2011 4:00am EDT
think will happen -- here is the problem -- the black sea area increase in wheat production, china wants morrissey verse ty in the feed supply and i think they will rely on wheat. we have to watch it. wheat will be the biggest competing for corn because of all the global wheat supplies. overall i don't -- the market below five, wheat can't compete above 7. we will raining bound in this new range. >> every year in the middle of the harvest we look to harvests go down. when that happens our international buyers look to the united states. china and the other country that need the products will they be buying as much at these low prices in. >> they did last time. they bought a lot of corn this summer on the last break we had, i would think that would show up again. i haven't heard they bought anything, that's usually what happens though. so -- yeah, demand shows up at lower prices. >> china, there is a lot of stories, china will be up between four to five million metric tons above expectations. i think over the next three weeks you will hear a lot of unknown sales and a lot of will be
FOX
Dec 20, 2009 4:00am EST
out to the northwest with exports to china and the far east. and when they come out there, they take that away from us without exporting them typically by the cheaper price to the south american crops. the past two to three year, we have been able to sell them easily out of that market and that market, they have a continuing area out there to make sales out there and into the the early summer. a lot of those shipments are covered. that we can get them out there in february right now. they make the sale and that will probably take about 15 minutes to cover the sales right now to the northern areas to that side. when they go away, the markets, they are 400 miles away with a very poor rail bed down there. >> so in particular, they make a big defense particularly for the soybean at this point? >> yes. >> i want to go to them because, well, his wife is china. and the inlaws live in china. and you're really following china a good thing. but you mentioned to me about the bubble now. are they going to continue to buy as much as they were out there? >> we had a question about china, indi
FOX
Dec 5, 2010 4:00am EST
. one reason behind the increase, china's strong demand for u.s. soybeans. usda says ag exports show a trade surplus. as we move through the last few weeks of the 111th congress, rigorous debate continues. at issue is a blending credit and a 54-cent import tariff. this week a group of senators sent a letter urging to allow the incentives to expire on december 13th. livestock groups and food makers say the sub sities keep things high. on friday, montana's senator proposed extendingtending the tax credit for one year, but at the lower rate of 36 cents a gallon. a leading tire maker says prices are headed higher. they're boosting prices 10% because of raw material increases. at the same time, titan will boost its products as well. that's it for the headlines. now back to john for crop watch . >> crop watch this week begins in central kentucky. a viewer says it's been too dry in his part of the state. he says they got some rain recently, but not enough to make up the difference on grazing land. they didn't get as many cuttings as last year. he hope as recent blast of cold air kills grass
FOX
Sep 5, 2010 4:00am EDT
going to be good. >> in terms of days and use, it's going to tighten further. china has 50 million-bushels since spring, and some of our sources inside of china believe it could be as high as 200 million. i think that might be on the high end. they're now competing with other customers. you take feed weed out of the soviet union, the demand is there. we can't afford to drop this yield. when we come back, we're going to talk more about what some of the down sides could be coming up in the future when u.s. farm report returns in just a moment. >>> farm progress guest today -- just before we left a minute ago, i said we were going to talk about perhaps the downside in agriculture. you said you would talk about that, alan. >> we have to be aware that we're doing a price rationing job here. we're trying to discourage demand until we know what the crop is. when you do that, there's a danger in that we do too good a job. ethanol prices have gone up sharply, that mean wes eve lost the spread margin. we're going to have a lot of problems with ethanol demand for a while. at the same time, th
FOX
Dec 6, 2009 4:00am EST
poultryproduct exports. >>> while the usda is still awaiting details from china on the conditions for the resumption of imports of u.s. pork, ag secretary tom vilsack says he is hopeful u.s. pork exports to china could resume in the very near term. china announced this week it isofficially lifted restrictions on iment po -- imports of u.s., canadian and mexican pork. china instituted the ban as mart of the h1n1 outbreak. despite lifting the ban, details on how and when shipments could resume are not known. few market analysts expect volume of shipments will come anywhere near the hefty buys of pork that china made leading up to the olympic games. >>> because of the unprecedented harvest delays, the ag department says it will extend its weekly crop progress by at least one more week this year. the usda says that will help them get more complete results for their report. meanwhile, this week's report shows corn harvest at 79% complete. the five-year average is 97%. the soybean harvest is all but wrapped up sitting at 96%. that's it for the headlines. it's time now to join john for crop
FOX
Mar 27, 2011 4:00am EDT
crop. probably china, they have been pricing corn -- market couldn't sustain that gain, it's a -- it's just exploded to the downside and down he went, lost 25-cents and -- it's a market where you don't take any long lunches, you get eaten forelain. . > >> you came in and were looking at the markets. i don't think you had your market in your land looking at it. you said wow, that's not much of a change and i can remember a few years ago when we went over five cents either direction it was a big change. how have things changed now? >> we are starting to see a lot of volatility. people have to realize with corn at seven dollars a buschel when it was at three dollars and a seven cent range -- now there has been a number of days that it's had a 30 to 40-cent a buschel range and we need to expect that. we had today a situation where the corn market rallied quite a bit on thursday where the -- when we started to hear about the basis at the gulf had strengthened and it started to be rumors and speculation that may be the commercials were buying corn fortuna sales and the market rallied
FOX
Jul 3, 2011 4:00am EDT
things i asked you -- i know you know a lot about chi -- china -- will they buy more. >> i think it's -- a lot of users everywhere. whether it be china, feeders. it's a good thing. as far as china goes, all u.s. corn is below their domestic price, even with the taxes in there, they can buy a lot of u.s. corn. from my knowledge, i think you could see substantial purchases here. i think we saw quite a bit of corn move when the japanese had a problem. then you have a hard break in the summer where prices next year are questionable. it's a good move to buy grain. you saw them buy grain this weekend. i think you can see them buy more next week. it will be about five times more than people thing. >> thing -- people think. >> i think prices stay down. it works in their country. they can by a lot of corn just like they buy beans. >> is that positive? >> this break is a positive thing for agriculture. the prices went down. >> yeah, al, if we would have just continued to go up and hit $9, we would have shut off demand for two years. we've experienced that before. this sell off came at a ti
FOX
Sep 26, 2010 4:00am EDT
inflation and china which is effecting all sectors in china, high prices in pork, soybeans and such will finally draw some more chinese business to the u.s., they have been aggressive buyers of soybeans all summer and that continued this week. and they will eventually buy u.s. corn also. high prices has been going on for a while but we were down early in the week but based on what jim said you have any disagreement with what causes this at this point in time and where are we going i guess is my question? >> it's a sweet spot for agriculture right now. there's so much demand for what is perceived as a diminishing supply. we will have less corn now than years ago so it will be hard to think we will not challenge the all time highs again sooner than later. you'll not predict that but you are saying -- or are you? >> the only thing that will derail the prices is a war somewhere or a stock market event. the supply demand are positive for the market for it to sink for any length of time. you get small corrections. 28-cents was all you got over a couple day period of time. it's such a bull mark
FOX
Jul 24, 2011 4:00am EDT
. >> you have concern about europe and china, you know what's amazing to me is it's all about the rhetoric and how they spin it but they talk about china slowing. they are slug half a per percent. >> i would take a half point off mine. >> china is looking at adding between 60 and 70 million cars a year in the next ten years this have increased last year alone jumped 38% from the year before. where our production on cars dropped 28% to the lowest level since 2001. >> right. >> we are are seeing things when they talk china, maybe a hair. the government has not been successful at slowing the chain down and that is when incident demand is still there. >> it is. they are increasing the production. they are paying hog producers $15.50 a hog just to breed them. >> we will talk about that when we come back. @@ =÷÷÷÷1g1g1g1g1g%g1g . >>> before we talk about 2012, i'm a little concerned that all this double crop soybeans are sitting there in a lot of dry dirt and they -- the acres are not really there. >> we talked about this, i think one of the things we to watch is the soybe
FOX
Jan 9, 2011 4:00am EST
point, i guess you move toward the end of the month and china books as much soybeans as they're going book and february gets tough as far as new bean purchases, so you might be getting top my around that government report. >> let's see what else may be out there in terms of causing the markets. we're on a pause, but there's got to be a reason for a pause. it's not just limited to the united states and things that are happening here. it has to be around the world. what are you looking at? >> one thing is the weather seems to be slightly improving in south america. that's been a big catalyst. also they're talking about looking at the fun length as far as the government. how much can you own? that's going to be a long, drawn-out thing, but it maybe has the tendency to push people to step back and say they want to be out for a minute. the dollar is also looking very, very good to me on the chart. that could take some hot money out of the markets for a bit. >> okay. around the world? >> i think looking over into asia, the higher you push commodity prices against them, it makes things diffi
FOX
Oct 17, 2010 4:00am EDT
china. it's going to be a political solution or a political surprise. i would say the market is as bullish as it was back in june. we had several ways to make it bullish. we're going to have to have things to make it bearish. we're going to see rationing of ethanol and exports. it's very difficult at there point. if someone gets in trouble, this market could be intense. >> we're talking about rationing exports, you're talking about governmental actions. is that what you're suggesting? >> might happen. >> if prices got too high. and i think the definition of that is probably $8 corn and 15 to $20 beans. >> is he talks right here that that kind of thing could have with the united states, with the way things are at this point. >> it's a quick answer. we need a lot more bean corn acres this year, we're behind the 8 ball. increasing 3 plus 4, something like that. man, we've got to -- it just doesn't add up. that's all i can tell you. but, i will say this, the market will ration to a point to where, one, how are they going to deal with this man date here that expires at the end of the ye
FOX
Dec 12, 2010 4:00am EST
easier than finding out what china's -- is going to be. >> if markets did retrace during the next 30, 60, 90 days, what's that going do to the demand site is china brings in soybean like they did in 2008 and crush the market? i think we have a dilemma that we didn't have back then. if we do that before the february average insurance price, it better be all commodities and not just corn. if beans go to 13 and corn goes back to five, i know what i eel plant. i'll plant more corn and less beans. >> i would say you folks have come to a marketing rally to become better marketers. the question is what are you guys going to do about it? now, no matter whose style you like up here, find somebody you like. there's got to be somebody for everybody and find somebody to try to help you manage this marketing game. when you look at it, having a partner, you don't just sit at home when you're sit, you go the a doctor or a lawyer or an account. in general, a professional will help you manage this risk. i would certainly say you've got enough to pick from right up here. >> mr. brock? keep the price o
FOX
Mar 11, 2012 4:00am EDT
. we will talk about china and the farm bill when the us farm report returns. [applause] ,3 we're waking you p... after you "spring forwarr."where you can go to get a free cup >> one of the questions from our audience that came earlier needs to be discussed i think by her group here today, and that is what is happening between israel and iran and how that will affect basically agriculture prices, but it won't be limited there. >> i was listening to an interview about warren buffett about two or three weeks ago on the major network and he said something that i thought was very important. he said, what would change the marketplace that we've seen over the past year, including the stock market and that caused the shakeout. it's not really the banks in europe going under or at the debt structure of the united states, it's i'm major nuclear incident, biological warfare or chemical incidents. that's something that changes the political framework throughout the world. that's between israel, iran and of course the united states is right in the middle. and, that would be what i would call
FOX
Jul 17, 2011 4:00am EDT
certainly china's opportunity to buy it on the breaks. >> they didn't waste any time getting into the market, did they? not at all. we'll talk about the people using the products. back in a moment with u.s. farm report. welcome back to u.s. farm report. our marketing round table continues with a discussion about how china is getting into the pork market and what that could mean for u.s. producers. >> certainly with china coming into the pig market, they made a statement two days ago they want to add more pork to their protein. certainly they're going to be able to afford to send a little more money on the feed. the cattle industry, the numbers seem low to me and i don't know how they're coming up with these numbers. >> i do a lot of feeder cattle out west. just to tell you about second chance. we went from 142 to 120 back to 145 in feeder in just a little over a month. so when it was down there at 120, you felt pretty bad, but what i'm trying to say and what i'm eluding to, these next two to three weeks are going to maybe give you your chance, if you didn't catch it the first time, to catch
FOX
Oct 3, 2010 4:00am EDT
give them away and now they have value. >> i think the big market is china. i would imagine they would by five times more than last year. >> really? >> at least that. that market, they can combine soybeans and djokovic gs, and it works better than buying corn on water. that's the market that they're very interested in over here. i think that's going to expand a lot. you look back at that stocks report, it was our lowest since 1950. that doesn't work. >> you don't think that works. >> not so much. >> well, i'll tell you when we come back with our next segment, i'm going to talk about soybeans. we've been talking about corn and wheat, but something i think we should address, and that's what farmers are going to plant next year and how we get to where we need to plant in order to make a profit. we'll be back with more u.s. farm report in just a moment. this week brian and andy, we were talking about corn primarily and the fact that the government put out this report and they found 300 million- bushels more and there may be question about the report, but you that's what the market is deali
FOX
Jun 20, 2010 4:00am EDT
since november one to to eight. the big difference is the reentry of china and russia which banned u.s. products last year. >> china was closed over concerns -- stated concerns about h1n1. there's really no scientific or rational basis for those claims, but, you know, needless to say, that market was closed to us for more than a year, but it's open again now. the russian market is back open. it was closed for a while over a number of technical issues, but they've been resolved, so things look food right now. >> butler says u.s. exports have also been hurt by china's increased government support, as they want to be several sufficient in pork production, but china's growing population and demand base, u.s. crop producers are optimistic about the future. there is also improvement on the beef side. value of beef and beach variety exports topped its year abbee level by 27%. the organization says beef exports in april was about 10% higher than april 2003. the last year a prebse market access. the latest progress report shows some delays in both development and harvest of the winter wheat cro
FOX
Dec 11, 2011 4:00am EST
to you and yes. i know you have close relationships to people in china. one of the things that the report said they raised the amount of corn china had on hands. that true? you are smiling. >> you can believe everything that the u.s.d.a. and china says but it probably won't do you any good. they say the crop is 191 which i know they had good crops in china and it was better than the last two years, there is no question about that. if you talk to people that actually buy the grain over there and what the farmers had, my numbers in the 170s. we are a good 20 million-tons below what the u.s.d.a. says and road -- the odd thing is that the u.s.d.a. sent people over a couple months ago. people forget things and i -- u.s.d.a. said the crop was smaller and you know it like the illinois crop was small. it's not very hard to figure out. they thought it was not as big as the 180 they were saying then but they throw 190 on the report. that's -- china holding half of all the corn stocks no the world and the price is eight to nine dollars on the board and no corn stocks last year and now all thi
FOX
Jan 2, 2011 4:00am EST
market. if thine china for whatever reason quit buy -- if china for whatever reason quit buying any of our grain or sell some of it back to us as they have in the past, that could be a problem. one of the two things we need to focus on for the american farmer in 2011 is don't ask me how high prices are going to go this year. i can tell you, though, what prices are going -- where prices are going to go once they make those highs and those prices will go back under the cost of production within the next 12 to 18 months. it has always happened. in my opinion it always will happen because the market's job is to force out the inefficient producers. so when we get to some nice prices, whether it's by march 31st, maybe it's by january 12th in the first production numbers, the final numbers. when we get these great opportunities, you've got to protect it because at some point with everybody along we will force this thing back under the cost of production. now we could be $3 higher in beans or another dollar or two higher in corn before that happened, but the fact of the matter is when we do
FOX
Jul 15, 2012 4:00am EDT
china does and not as they say. they have a big export sales number to them, again this morning it was another 150,000 tons. >> when we come back, this is such a big thing that we are going to talk about that i'm going to talk to you about what a producer can do to protect whatever profit may have been there before they found out they didn't have the crop this ç year. return with more us army port in just a moment. us farm report in just a moment. >> jim bauer from power trading and chip knowledge or. i said we would ask questions about what a producer needs to do at this time company and each producer is individual and has a different set of situations, and we know that. but what should a producer too? >> i think there's a couple big things. first and foremost, don't get down. it's unbelievably hard. i think a really important thing, do it now, doublecheck coverages and doublecheck the social security numbers and names are right on them and that you have the harvest item. >>> crop insurance -- it's not going to make everyone hole, but it will not help with yield reductions. the c
FOX
Jul 29, 2012 4:00am EDT
sell corn and then it switched from where china went to a net exporter occurred to a net importer. it's hard to get information out of china. they don't let people like me communicate with twitter and facebook. but they say they're crop is okay there, we will see. sometimes people travel to china and the rest of the world needs grains also ended the scramble to see what's out there, not only in our country but in their country as well. >> they tell me that they don't always demand, and maybe there are other factors in there. are we in a demand structure rather than supplying? >> this week in exports we had a negative export number in corn which is something to see more of. we had a good beating number and a good week number. so they might find other things to use instead of corn. the word is out that america doesn't have much corn. certain companies are importing from brazil and there was also talk of brazil importing the point that they have left. so that will affect the price. we have massive demand destruction which will help us prices but in one year or 18 months from now we w
FOX
Apr 11, 2010 4:00am EDT
china. tremendous demand from china. and maybe corn business with china? i don't think it is so much as maybe we send corn to them as the fact that they stopped exporting corn. that could be the real wild card on the demand side of the equation, the unknown will be the supply side of the occasion and that's based on the weather. >> didn't say much about europ. >> when you talk about corn, it is pretty much us. >> when you talk about wheat, that is every country? >> yes. they are having a good run of it this year. there is no worries down in australia but you grow wheat in every done of the world. i know a guy that had some in alaska. >> he did? >> yes. >> we'll be back with more u.s. farm report. >> your guests jim hem minjer and gary howard, the former analyst on the floor. i'm going to ask you gentlemen at this point in time, i'll start with you, jim, that is the outside money and i guess it is funded, that a couple years ago affected the agricultural prices. is that still there in because the prices are relatively higher. what's the situation? >> the money is still there and
FOX
May 8, 2011 4:00am EDT
top producer is china at 564 billion or 15.7% followed by the eu at 8.2, and the united states at 4.9%. the differences become more when you use purchasing power parody which does a better job, a dollar will buy more food in india. the world put out is 4.2 trillon which is 6%, china has a 22.2%, india 14.2, the eu6.7 and the united states 4.1%. it is popular in this country to assert that united states farmers feed the world. as the figures show the farmers of the world actually feed the world. our china and india counterparts carry the bulk. the united states can't be the only answer. we will be an important part of a global team. as always we want to hear from you. send comments to mailbag at united states farm report.com or leave us a voicemail. for all of us, thank you for watching united states farm report, but search to join us again next week. we will work to do even better. >> . >> united states fa
FOX
Jul 11, 2010 4:00am EDT
production base. china is doing the same thing. >> i was going to say, look how much we're talking about china more. >> exactly, south america. going back to our government topic here a little bit, isn't it interesting that even in lesser regulated environments they're still using a lot of our practices because they know that what we do is always in the best interest of our land and cattle because our profitability rests on it. you can't do a horrible job managing soil and wash it down the stream. you can't be blowing fertilizer out the end gate and hanging your boom over the water. you just can't afford to be doing that kind of stuff. that's why we have precision farming that's coming along. you cannot be wasteful. you cannot be a bad steward or you are out of business. >> quickly, the american farmer going to be able to keep up and be ahead as we have been for the last 10, 15, 20, 30, 40, all the way back? >> no question. farmers are embracing precision farming. almost every farmer i talk to is doing that at the highest level. i continue to believe the u.s. farm ser the best farmer in
FOX
May 15, 2011 4:00am EDT
billion. that's a 27% increase over the same time period a year ago. nearly 20% are headed to china. canada is the second largest market. >>> united states corn surrender surpluses expected to grow more next year. that was a surprise from the may supply demand support. u.s.d.a. raised the corn ending stock to 730 million-bushels, above trade numbers of 661 million- bushels. they also pegged the ending stocks at 900 million-bushels, 92 billion over the estimate. >>> the first estimate of the winter weak crop takes in to account the drought in the southern plain at 1.4 billion- bushel, a decline of 4% from last year. the united states yield is forecast at 44.5-bushels an acre down more than two bushels from last year. >>> soybean ending stock for the year are projected at 170 million-bushels, that up 30 million from last month because of reduced export. >>> farmers are trying to play catch up with spring planting. the crop progress report showed 40% of the corn crop is planted. that's a big jump over the previous week. farmers in iowa had a 61 point game but the eastern corn belt is s
FOX
Apr 15, 2012 4:00am EDT
the next day. today, you know with china, gdp -- coming and moving the markets i think we are geared a little more to the fundamentals today, the brake can be -- to seeing rain that we saw coming across the very dry areas in an anticipation of the coverage being good. corn took it on the chin. >> most are getting used to look at what happens in south america and other place around the world but we are in a world grain market? >> absolutely. have you to pay attention to south america, china is another good example. they are a big corn area, it's very cold and dry right now. russia the drought affecting the wheat crop in france and germany and poland. you just can't look in your own backyard. >> when we come back, one of the things i want to do is look in our one backyard and predict what the prices will be this summer, what we need to watch for. when we return in just a moment. . >>> tom into yan grain company, i said we would look at what the prices would be. i will just start out with you greg. we will see 15-dollar beans this summer. >> i don't think we will any time. >> you don't. >
FOX
Jul 18, 2010 4:00am EDT
of it? >> i think that one of the things going on in china in particular is as they detach from the u.s. dollar because they want to consume more they will try to raise their -- essentially raise their wages 20% in the next 3 to 4 years. kind of their idea. that's going to put more money out there to buy commodities. so to meet the demand from that it will have to come from increased production there and other places. i think our corn yields keep going up and up. they could do themselves a lot of good if they start using some of the stacks that we are using off the field. and their demand i think will keep growing. especially when they did that. i think that's a big deal. >> it takes time to be able to incorporate varieties. takes time to incorporate some of the farming practices. no question. as i mentioned before the only pathway for china to increase production is through yield. they don't have airable land in which they could farm. it is all taken. it is shrinking. sort of like brazil. there is still plenty of land in the world to cultivate. no question about that. what price wi
FOX
Nov 1, 2009 4:00am EST
right up. >>> "u.s. farm report" is >>> today, on "u.s. farm report" ... trainer droops china droops its ban on u.s. pork as diplomatic efforts work. and we'll all be yawning at 9:00 p.m. as it's time to fall back. >> "u.s. farm report," brought to you by chevy and their award- winning cars, trucks, and cross- overs. good morning d welcome to u-s farm >>> good morning and welcome to "u.s. farm report." i'm john phipps. >>> states that allow issues by citizens to be placed directly on the ballot have drawn the attention of interest groups who are frustrated by government inaction. encouraged by the myriad and sweeping changes enacted in california by this method many of the 28 states are seeing much more interest in such reference data. many of us will be watching the outcome in ohio of such a measure although there it's a full blown constitutional amendment. they tend to create waves that spread. direct democracy can be a good balance to government by elected officials but it can also introduce a real wildcard into the deck. let's get started with the news and al pell. >>> thanks joh
FOX
Aug 12, 2012 4:00am EDT
at these kind of bubbles before, and into company would cut the price in half in october. china is in tough economic times and i think you have to be careful out there, because you can be too bullish at these levels. >> while the market has been bullish, like i said six weeks ago. but now, the function this market will be now is, a speculator will get out of the market, but it will be put into stronger hands on shallow breaks in corn. corn has to pull together in the front month to get this job done on the rationing. it has to be a job that's never done before. we didn't rationing away on its prices because these people have coverage. this time around that will take a tremendous amount of liquidation of our heart heard, chicken heard and chickens, and then over in asia we have seen pork prices in china come down about 19% for the year. they are crushing margins are negative now, and it looks like they will have a heck of a crop, at least the way it stands right now. so that takes some pressure off. but as we move down the road, think about time. there's going to be opportunities th
FOX
Jun 3, 2012 4:00am EDT
mexico are on pace to set new records and mexico and china are up more than a billion dollars thanks to strengthening demand for cotton, pork, dairy and poultry and tree nuts. >>> nationally 9% of the crop has already cut. in oklahoma the wheat harvest is 41% complete. the five-year averages just 3%. good growing weather has given way to good harvest conditions around the state and yields are 20% or more above-average hitting machine that will work workout. >> the combines are running one and a half or 2 miles per hour in the field, they are just crawling. they are bigger machines but it's taking twice as long to get the crop because we have twice the bushels out there. >> rosen says last year's supply stifle the crop and that's why many producers are bailing the crop for hay rather than harvesting for grain. >>> mostly due for higher prices, hey use this past winter was at its lowest level since 1980. the center says many producers chose a lower cost options including baled cornstalks. the tape raises expanding prices are expected to soften. the lack of rain is becoming quite scarce
FOX
Aug 1, 2010 4:00am EDT
we talk about china buying beans and south america producing them? >> yes it's all connect sure. when the market perceives there will be a shortage than the funds come in running the market up. the way i look at it we have plenty of wheat around to counter act this situation, so this is i think more of a just a speculative money rushing into a certain market that will not last long. >> a concept that people have trouble understanding is why corn and soybeans follow wheat? >> they buy everything. the corn we are going to have a good corn and bean crop the year so to keep pushing those markets up i'm glad they are doing it but i doubt that we will stay at these price levels we will be topping. now longer term i think that we are in good shape i think agriculture is in good shape and i think we will press significantly higher over time and going into august the first of august i don't think that we are really much left to up side. >> are you agree withing him that we are topping here. maybe next week we will be at the top in. >> i would think so. today we broke through this some resistan
FOX
Oct 30, 2011 4:00am EDT
every time the corn market dips china shows up. i think you have a real solid demand base and that's why it's like it is and i think that's just going to continue. >> very been talking about corn. is the same true about soybeans? somebody told held and made the argument that soybeans are better obviously than most people thought because they thought they weren't going it be good but we are raising more than we thought this year. >> lot of cases its expectations verses what the reality was. it was so hot and dry for so long. people's expectations were way down. as it's turning out bean harvest in most cases beat expectations, i don't know if we are up to average or what people are thinking on that -- on average i would agree that bean yields, are better than what was expected. >> will china be able to buy all the beans we grow? >> i don't know. i would have no idea but they have been buying a lot of them for a long time so i don't know why they would stop. they are in the process of trying to better everybody's diet. i don't think the conditions have changed. they have money, they wan
FOX
Mar 13, 2011 4:00am EDT
farmer. what concerns me more on a worldwide basis is what could possibly happen in china. if we learned anything in the last three weeks, it's that people when they get upset and they have access to the internet can change the world. and we saw what happened in 1995, if things get heated up in china, that could be a serious impact on our business here. so i believe that's one of the key factors we have to watch for in the next several weeks or months to be on our toes about. >> scott, if we have some old crop, corn or soybean, really doesn't matter. if we have some old crop in the bin what are some warning signs that is going to signal this thing is done? >> we really haven't seen any kind of blow out top or anything like that yet. the momentum is up, all this thing has heated up in the middle east but the momentum was up and bullish was kicking in. when you see that extreme acceleration and absolutely everybody is bullish and they think it's going to go up forever. that's usually a sign of the top. rick thought me that many years ago when i worked for him. but we are not seeing
FOX
Oct 24, 2010 4:00am EDT
to be surprised by export demand. it was china again. our experts were a much smaller factor in the market sources. to make it more challenging, we're discovering our understanding of foreign customers as at best outed. one problem with being a really big player on the big scene is we spend too much time thinking about just ourselves. here's al pell. >> thank you, john. could u.s. farmland be the next bubble at risk for bursting. a leading bank regulator says it's not out of the question. sheila bare says it's important to monitor for signs of instability like the house and stock markets. as we've been reporting, farmland values remain high while others have fallen sharply. those positive fundamentals can change. the help of over 1500 farm banks could be threatened if the positive -- sector suddenly re reversed. usda reports that milk production climbed 3.3%. while production increases, the herd continues to dwindle. once the biggest buyer of u.s. beef, japan, appears to be analyzing the safety of meat older than 20 months, again. they've allowed meat from animals that are 30 months
FOX
Sep 19, 2010 4:00am EDT
violence on friday, several things, china had a frost in the northern cornbelt and quebec had a frost and just a general mania starting to kick in the market. we close at the high end range over five dollars mark on corn and beans and wheat. everything was strong across the board. >> demand market. one hundred percent in demand or are we worried about supply? >> yeah. >> we are moving from -- we are moving to a point where it's more fear of future demand and fear of future supply and where is that demand ration develop? that is what we will try to find out. >> is that what you were going to say mike? >> i would say we are still effectively in a supply market per se because if we want to try to ultimately give this any sort after fundamental flavor, the conversation drifts back to yield. it's not about what the demand is out there, certainly that will help fill in the cracks of the conversation but the heart and soul of the fundamental conversation always seems to come back to yield and what that yield will be. and you know i think we are in that kind of an environment where bob says w
FOX
Mar 20, 2011 4:00am EDT
federation said china imports were up 90% from 2008 and -- and united states e ports were up to 128%. beef e ports were also going higher. january sales to canada the second largest market for beef were up 17% in january. that's it for the headlines, back to john for crop watc >> crop watch this week takes us to three different states, a nebraska grower who says most of his winter wheat hasn't come out. he said about two weeks of really good drying would help. now contrast that with denton county texas where a grower said there is not enough moisture for wheat to recover. he quilt wilts by noon and perks up by night. in georgia guilty or not planting is just now getting underway. the state office said 2% is in the ground. ground moisture is in good shape. 80% of the state has surplus top soil moisture. >>> the national weather service said flooding could be a big problem from the dakota's to the corn belt this spring. mike and i will talk about it later in the weather. when us farm report returning al is joined by greg and mike torres for this week's market wrap. the discussion star
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