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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
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
May 30, 2010 4:00am EDT
the rug out of that. the other change is china. this is the first time in 14 years that they have bought anything significant, and it is a big deal. it's a big deal for the industry because it's an unknown. and of course last week, jci they reported there was going to be another four to five -- that's 8 million tons total that they could buy. so it's the unknown of china and it's the big money coming in on one day for inflation then the next day they leave on did he leveraging. >> now that's his comments do you have anything to add to that? >> , i think bill did a terrific job of under scoring some of the top factors really providing at least a temporary floor for the market. just the notion as you look at the demand base on corn. when you look at the demand increasing here in 2010 and in 2011, we look at the export potential and you look at china. you don't know what that demand might be. but when you bring it all back, somewhere around 13.2, 13.3 billion bush he wills of corn use acknowledge we need a large crop here this fall. >> okay. you guys are talking off cam are and i was
Aug 14, 2011 4:00am EDT
trying to influence them what's happening to them in china. how about affect us quite. >> chinese friends who went up 8% this week, 17%, the big increase of the nativity in america just went on sale by 8%. >> they have more buying power in their currencies started to appreciate and that's probably not going to stop. they are big importers of our food and i think that we'll just ratcheted up. >> other countries around the world come up with happening in your area click. >> we are selling a lot of pork which is relatively new to the far east and they are taking a lot of tended to us. and, it came up the board friday at record prices. and, one of the hot producers, the back of the market is kind of the discounts of the pork industry i think we'll be in good shape for along company and the pork industry is good place to park some money. >> well it's not only in the united states for other places. in terms of feed that means pork will go to higher prices. you see that affecting the world market? >> yes i do. i think the whole world economy right now is probably more important than the
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
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
Aug 19, 2012 4:00am EDT
beans. china hasn't backed away. they want our beans. >> the bean -- they aren't as tied. beans aren't as tied to livestock. . >> no they aren't. going back to corn. one of the things a lot of people are worried about and a lot of news, about whether or not there could be just a huge cut back in the ethanol industry. i don't see that happening. i don't see -- even if you cut the mandate on ethanol. >> report from purdue last week. >> to make it work and you know once the -- once the blenders have their rations put together, the blending rates -- it's very difficult to change that. so, you know i think we have cut the ethanol industry quite a bit. i think beyond this point it's -- i don't think you cut it much more. >> down to about four and a half billion. maybe down to 4-2 but how much more can you go in exports, probably in --. >> okay. next question. we have profarmers out and a crop tour going on and they do that every year to come up with what they think will statement the corn yield after they walk through the fields. we don't know yet. they are just starting. you guys thi
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
Nov 5, 2016 5:00am CDT
exports of globally-- going to china and going places in the world. but really when you look at our major customers are north and south of our border. and we need to make sure that the peso in canadian dollar are compatible with with our dollar so we keep that trade flow going. those are very very important trade flows for us. arlan what about these found a bottom here short-term in this cattle market? well maybe a short term bottom. the last cattle on feed report was encouraging. we finally started to cut down on our numbers. unfortunately comes at a time when demand tends to go into a holiday season. we have more turkeys more hams etcetera so it's a concern. we've seen some signs of encouraging export demand that's helped out . but this past week's trade is really disappointing. we thought we'd see some more build on the cash online auction was the first sign of that and when the rally started to lose some moment to the upside, i'm watching that 108 level for the december contract . but fundamentally right now with all the red meat we have on the market it's tough to see some abov
May 1, 2011 4:00am EDT
. >> 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 affected by -- so nobody has got
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 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
May 22, 2011 4:00am EDT
beans. we have tight stocks. >> they said china and argentina got an agree meant that helped the bean oil price. it's really not helping the bean sales though. >> i hear they will pull the caps on canola oil and they are looking for corn in the september shipment. i think you will see -- they are hoping to get lucky on the weather. they are taking steps to make sure there is no grain. >> your concept on soybeans. >> we are washing out acres, the swollen mississippi river. probably not much of a change. probably seasonly lacks which is normal for this time of the year with south american production and got to remember they have a goodyear and worldwide soybean production would be up only about a percent ├žbut we aren't losing, supplies are tight and things could get exciting but if you step back and look at bean chart they have just been duking out, shadow boxing with the corn is looking like the shuttle liftoff. >> the next step i want to go to is talk about wheat at this time. i know -- talking about the world wheat situation, almost every country -- we have wheat in this country an
Aug 23, 2009 4:00am EDT
. there are many positive elements on the horizon as well such as strong demand from china and glimmers of hope from dairy and other livestock industries. the larger problem, i think, is our impatience or at least attention span. in a colored of constant communication, fast food and downloadable products the concept of wasting for months or even a year or so to work through a massive inventory of grain seems positively anti- delifeient. we'll have to dial with it. nature will not be hurried. besides, after 10,000 years, i think it's safe to say we're in a long-term profession. commen us-fa >>> as always, we want to hear from you. send comments to or leave us a voice mail by calling (800)792-4329. >>> coming up in our next half hour, one family's special relationship with a famous cattle breed. stay with us, the second half of "u.s. farm report" is coming right up. today on u-s farm report... >>> u.s. farm today on "u.s. farm report" ... >> pork producers ask for help. >> it increases slowly on american farms. >> boat owners remain reluctant to embrace ethanol blends.
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
Apr 25, 2010 4:00am EDT
going on in china. >> they bought a lot of beans this week. >> my read on it is their corn market has been rising as we have been coming up since last fall and so corn was around 717 today. and this shortness and this tightness in their corn market where they don't have enough grain. they have 5 million metric tons of beans coming this month and next month. it looks like they are on schedule for the next month which they usually do around 4 million metric tons so they are doing this extra purchase. the numbers don't work to use corn over there as they are substituting beans and meal. which is why they are having a little riff with argentina. they are not going to need the oil. so this whole thing to me on the strength and beans comes from the fact that they are short on corn and they are going to crush extra soybeans. >> is there guess that plant the corn. listening to -- is there guess that there will be plenty of corn available so there is no rush? >> from their standpoint and ours we feel like our weather is really good and we are going to come in monday with a 50% planting or some
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
Feb 5, 2012 4:00am EST
certainly concerned about demand out here. greg is kind of an expert out here, on china, but from what i see, we see them backing off the last couple months, so that concerns me. it's been -- we've never in this down there i had three years of increasing trend-line yield, so it would be unprecedented to have the third year. if we do something in these markets that's unprecedented, we could have an unprecedented reaction and price. i would say that we might have to go a little higher. but i believe that -- i was taught in the university of illinois, in ag school, many of you might remember tom and he always used to say, mother nature takes care of excesses and mother nature takes care of deficits. i hope mother nature takes care of the deficits. >> what about china, greg? what's your outlook? we're talking about a percent off of 10% growth. >> i think the chinese leadership is more interested in control. they just announced the other day that they'll increase crushing capacity another 12 million metric tons. so their biggest thing will be civil unrest and having their food inflatio
Feb 6, 2011 4:00am EST
exports to china. there's also a discussion about the shrinking livestock herd in the u.s. >> it has been shrinking and continues to shrink. when you see the numbers, they're pretty abysmal. we'll sending half the heifers off the feed lot. we continue to see our costs go up. >> the latest usda cattle report says beef replacement heifers down five% from a year ago. with rising costs, some producers are choosing to take their herds to market earlier. >>> for the second straight year, the ag department is offering a general signup for the conservation reserve program. acknowledging the volatility in grain markets, these acres won't go into effect until the fall. land can be enrolled for up to 15 years. if you have a contract, you can make a knew contract offer if it's set to expire this year. your contract would become effective october 1st. signup begins march 14th and run through the 15th of april. that's it for the headlines. now back to john for crop watch . >> crop watch, this week take as tour of the heart land, a wheat grower from kansas checks in. he had bare fields and bitter c
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
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
Aug 14, 2016 3:30am CDT
bushels of beans we've sold half of them to china are gonna sell half of them half easier to put a nine ten dollar bean on a boat than three dollars cash corn if i was gonna buy something i'd buy a nine dollar item and ship it over take that protein and make oother protein. so the world is asking for our beans. they were g farmers is there any way you could plant more beans think you can make a profit doing it. it's like the mentaility of hte farmer they lvoe to trade corn they love the story but we have too much corn and that has nothing to with beans and beans wan tto go to $11, $12 over a south american problem there's no reason beans can't go up you'll have funds jump back in and then we'll have corn sitting there watching" you know trying to go up but we're always going to have this problem for a while that we have a little too much corn unless they change number from one seven five one seventy three one seventy one demand picks up and then you could see late of a nice pop in corn. when you look these price discrepancies do think there's more risk right now and corn will be to
Jan 24, 2016 5:00am CST
last year, sluggish demand and market turmoil in china will only further hurt prices. canadian processor saputo predicts milk prices to remain depressed in 2016. and now it's a question of which country's producers can handle the lower prices and adapt to volatility. canada based potash corp says its halting production at a mine in new burnswick. the picadilliy mine just opened in late 2014--and was expected to crank out up to one point 8 million tons of potash a year. but prices have dropped significantly in recent years...from 900 dollars a ton in 2008 to roughly 300 a ton now. the decision to indefinitely suspend production will result in more than 400 layoffs..although it will be capable of restarting production if prices increase. those are the headlines...let's check in now with meteorologist mike hoffman. mike, things are going to take a while for some folks to dig out from this one. the good news is that storm will continue to move off shore and things will slowly improve for the rest of the weekend and it has been slowly improving in the drought areas out west, while y
May 6, 2012 4:00am EDT
week, altogether. but the market rallied at $15, and so we got a price where china doesn't like the price and doesn't want to own those beads at that price anymore so they start doing new stuff. >>> they are looking at the other carryout, where it all becomes one, and i think they would buy all the excess corn, new crop corn, that we would permit them to buy. >> okay. we will come back with more of that discussion in just a moment on us farm report. >> we are back with our roundtable here today, and one of the things that we were talking about in her statement was -- when you were finishing up with what china had done last week, actually in terms of purchases. can you bring us up-to-date on what will happen in the future? >> while i think the bean purchases have gotten caught up. it took a longtime code to do it, but conveniently they were about 30 or 40% behind in purchases and now the market has advanced about 40% at the same time, and it's like, i don't think anyone wants to pay this price for beans. and if i have one trait as a farmer and would be selling as much new crop as he
Jan 22, 2012 4:00am EST
is more competitive. we started doing corn business this week. china bought a few cargoes of united states beans. >> i understand china is probably not going to do much business this week because of the lunar new year. >> probably going to be quit for the next week arviso. they have become profitable on their crush margins domestic i and that could bode well for use. >> when you see the markets moving like this and you look at the technical aspects of this thing what are you looking at now? >> i'm looking at to me something that looks really positive. i'm always bullish corn. essentially we don't have any corn. i don't think we have the ability to go down and stay down. we just had such a lack of supply. when we pull down in price -- we have the demand which is human. a year ago today it was 650 on march corn, now it's about 610. we are cheaper in price and we have according to the u.s.d.a. 283 million-bushels less of corn than a year ago. so less corn and a lower price. doesn't make sense to me. i can't understand the bearish argument. i think we will go higher. >> you think we wil
Jan 8, 2012 4:00am EST
china, we want south american weather. all of this playsn. >> we didn't used to do that it. >> no. all of this as we have gone worldwide, makes a producer come to the table to address his risk. >> he has to and he meet that guy across the table we call a speculator and they -- they exchange risk. that's what it's about. >> i think that --. >> you and the farmer. >> you know i bought a farm so i have more time to talk to farmers and i take off my suit and put on the car harts and we talk to markets. i think the interaction i have had with the farmers have been wonderful. you know in a few months we have having a big seminar and we are inviting a lot of farmers to talk, what do you see changing, if it's something about seed or hedging your risk in the worldwide aspect of the market. >> it's more opportunity to make a profit now if you do it right? >> absolutely. couldn't be more correct. >> we will be back with more in just a moment. . >>> mike hoffman here to look at the weather for the first time in 2012, what happened, did you forget to order weather? >> its been amazing. almost nothi
Oct 18, 2015 6:00am CDT
? >> yeah, so the rally we saw on tuesday we can talk about exports. we had a sale of 240,000 to china that morning. we had good export inspections. but the bigger deal was weather. we're getting a little concerned about some dryness that we're seeing in northern brazil. they're well behind their fiveyear average on planting, but it kind of reminds us a little bit about last year with the el nino pattern that they've had. they could d d up being bettererif they get the rainin they get planted and things will be good. the biggest question is, can they get that second crop of corn in or not? if not it might have to go to beans, which means even more bean acreage. >> so if we do have more bean acreage and not a lot of weather problems down there, that doesn't sound good. how do we prepare here in the u.s., mike? >> well, that just cues up the same talk that we had before. if we end up with that added acreage in south america, that will put a lot of pressure on soybeans. we obviously need price to buy acres, but it's not such a large price that we need to buy acres on corn that guys might
Sep 13, 2009 4:00am EDT
. >> actually, our sales overseas has actually been pretty good. china has really been buying like they're never going to stop. what's going to happen with that? >> i think they're going to keep going. don't you? >> it will keep going. where i may dave little with mike in the year ahead at least, i think with the last two years indicated in showing to us that we've had many challenges with the crop as producers were good at it. we can produce. we can plant late if we get good weather. the assumption that we're going to have good production is there and the market recognizes that it falls apart in a hurry. i think what farmers want to focus on is seeing a little more strategic and being prepared to sell rallies. the send rallies have a balanced approach to the marketing and look out ahead for 2010 for opportunity to sell those rallies. defend it as need be. make sure you have good balance and defensive posture based on can't can't. >> we're going to talk about when we need to sell the 2010 crop. i assume we'll be back with more "u.s. farm report" in just a moment. >>> round table guest this
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
Search Results 0 to 37 of about 38 (some duplicates have been removed)