7U.S. Farm Report
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
years has been shipments of grain sorgpum to china. new usda data shows increasing production of the grain is pushing prices lower. t t economic research service says grain sorghum is sitting just above 3 dollars per bushel---now back below the price of corn. over the last 2 years sorghum at times trading at a 20 percent premium to corn on strong demandndrom china. meanwhile from our partners at beef today, the crisis continues for america's cattle feeders. according to sterling marketing feedlots are now losing nearly 700 dollars a head--that's more than 400-million dollars in just the last week. sterling says 2015 will go into the record books as the worst year in price of all fresh beef in november was about 6 dollars a und. that's down morthan 3 cents from the month prior--but still about a dime higher than a year ago. withthlaughter prices are dropping faster than retail, the marketing spread is currently record large. on the pork side of the ledger, processors setting record for hog g aughter last week. j jt less than 2 point 5 million head (2.493) were processed. that's be
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
. 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 email@example.com. 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.
is a different situation. china already has 370 million of corn contract they did business with us. they wanted most of that between now and march because they can't get those beans out of south america. so you will see the trade trying to get you to sell the cash beans and when i say trying to, that means either the board is up or the basis has to be push because the pressure is trying to keep it from going to the gulf or the bmw. but with all of that export business it has got to move. so to me that's as you sell the beans maybe three or four months rights off the combine in some cases corn is probably a better long-term hold from a basis stand point. >> just are you saying that soy beans will go down in the future? i will ask bob that question again in a minute. >> if you can entice the south americans to plant and they get it planted and all comes up you will want it to be all sold or most of next year sold because they are going to flood the market starting in march. >> what do you think? >> i think allan is essentially correct. it is a market where you have to be timed right.
Fetching more results