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Ag futures extend gains on Fed surprise

Ag futures extend gains on Fed surprise | Us Agriculture | Scoop.it

A whiff of "risk on" trading has returned to markets.

The decorrelation of risk assets, which moved like a herd during the global economic crisis and its aftermath, has been one of defining factors of 2013.

In fact, agricultural commodity investors have complained that share price gains this year have been a negative for their markets, in encouraging funds to shift money from crops to equities.

However, the Federal Reserve's decision not to "taper" its asset purchases for now, and stick with the full monthly injection into the US bond market of $85bn a month, has allowed gains across the board, and in a range of geographies.

Markets have responded strongly to the dovish announcement", Barclays said.

"Equity and bond markets rallied, breakevens rose, gold prices increased and the US dollar sold off across the board."

Strong markets

That said, some assets did gain more than others.

Shares managed some healthy gains, adding 1.8% in Tokyo and Hong Kong. And among commodities, industrials did especially well, with London copper gaining more than 2% on Thursday, on top of a 1.6% rise in the last session.

Among agricultural commodities, rubber, as one of the crops used for industrial rather than food use, surfed the wave strongly too, adding 2.7% to 285.30 yen a kilogramme in Tokyo for the benchmark February contract.

Talk that China has bought cargoes from Indonesia and Thailand, and could be looking for more for a stockpiling programme, also boosted the tyre ingredient.

Warning shot

But it was not all a bull's paradise, with some investors doubting that any injection of hedge fund money into ag futures will last long, even though the Fed's move would appear to spell a double boost to commodities.

Not only does it spell faster economic growth, and therefore demand, it has also undermined the dollar, so making dollar-denominated exports cheaper to buyers in other currencies.

Still, "speculative capital in ag market will continue to wane until or unless the next market threat to global food supplies emerges," Richard Feltes at RJ O'Brien said,

And cotton, another industrial crop, certainly lost some of its mojo, having gained more than 1% in the last session, and added just a further 0.1% to 85.61 cents a pound in New York as of 09:35 UK time (04:35 New York time, 03:35 Chicago time).

'Bearish sentiment'

In Kuala Lumpur, palm oil dropped 0.6% to 2,308 ringgit a tonne, pressed by ideas that a stronger ringgit against the dollar would dent an uptick in Malaysian exports.

In the first half of this month, Malaysia's palm shipments soared 13.6%, according to Intertek, with rival cargo surveyor SGS putting the rise at 12.4%.

Furthermore, ideas of seasonally strong output in Indonesia and Malaysia, the top two producers and exporters, continued to grip traders too.

"Bearish sentiment is brought about by forecasted strong production in palm oil as palm oil enters high production cycle in the second half of the year," Say Hwa, head of investment at Philip Futures, said.

"Strong production would cause stockpiles to increase when demand is unable to offset supplies, hence weighing on palm oil prices."

Soy gains

Palm's decline weighed on prices of rival vegetable oil soyoil too, which gained in Chicago, but by a modest 0.4% to 42.89 cents a pound for December delivery.

That was well behind futures in soymeal, the other main soybeanprocessing product, which added 0.9% to $429.80 a short ton for December, while soybeans themselves were up 0.7% to $13.57 ¼ a bushel for the benchmark November lot.

Besides the boost to prices from the Fed's move, soybeans have also received a boost from more than 2m tonnes of US export sales announced on Wednesday, mostly to China, and a decision by Indonesia to scrap temporarily its 5% soybean import tariff on the oilseed, besides of course by South American weather.

Dryness in Argentina and Brazil has been raising some small concerns, in hampering soybean sowings, a factor which could have implications for sowings of follow-on safrinha corn too if a delayed soy harvest cuts into the planting window for that crop early in 2014.

'Widespread Midwest rains'

Not that everything is all going bulls' way.

Joyce Liu at Phillip Futures noted "forecasted rains in the US Midwest which could benefit soybeans that were maturing later.

"It remains to be seen if the possible improvement in late-maturing crops could significantly improve soybean yields which had been adversely affected by recent hot and dry weather conditions."

And weather service MDA, for instance, said that "widespread Midwest rains through Saturday should continue to improve moisture, it will be too late to benefit soybeans and corn".

Still, early harvest reports for soybeans have been not so bad, if less promising than for corn.

"Bean harvest has been inching along with rains slowing progress, but so far early yield reports have not been the disaster expected in Iowa and Illinois," Benson Quinn Commodities said.

Soybeans vs corn

Corn for December kept up, gaining 0.8% to $4.60 a bushel, again a rise mainly attributed to the Fed's move, although analysts did manage to find some reasons for fundamental support.

Ms Liu noted that the Midwest rains were likely to "cause corn harvest to slow down", adding delays to a process already running well behind the average pace, thanks to the delayed spring sowing season.

Mr Feltes clocked widespread market talk that "soybeans will move more readily than corn at harvest", with growers unwilling to sell the grain at low prices, a factor "which suggests further slippage" in the ratio between November soybean and December corn futures.

For now, anyway. "Longer term, we think soybean:corn ratio will rebound amid the pressing need to increase 2014 US soybean area, and the ongoing growth in Chinese soybean import demand," Mr Feltes said.

'Continue to wreak havoc'

Still, it was actually wheat which fare best among the Chicago majors, adding 1.2% to $6.54 ¼ a bushel for December, edging ever closer to returning its premium over corn to $2 a bushel.

Sure, the market has a record world harvest in 2013-14 to digest.

However, some more positive factors "are starting to show some influence", Brian Henry at Benson Quinn Commodities said.

Technically, "upward seasonal momentum has been slow to start, but it hasn't completely failed either."

And on fundamentals, there are continued concerns over the rain-beset Russia harvest, on quality grounds at least, on top of frost damage to Brazil's crop, and the lack of rain in Argentina.

"Dry conditions continue to wreak havoc on Argentine wheat production," Mr Henry said.

'Has some value'

While Australia's grain belt has received much-needed rainfall, "may have come too late for some crops in the far north western New South Wales wheat belt", Luke Mathews at Commonwealth Bank of Australia said.

Mr Henry added: "Wheat prices will suffer if corn and soybeans need to work lower.

"But there are enough factors that indicate wheat has some value near the current price levels to keep this market from selling off sharply."

That said, Minneapolis spring wheat underperformed, adding 0.8% to $7.06 a bushel, weighed by continuing strong reports from the Canadian spring wheat harvest, with the farm ministry upgrading its crop estimate overnight.

Sugar sweetens

Wheat was just about keeping up with raw sugar, which added 1.2% to 17.09 cents a pound in New York for October delivery, also boosted by South American weather – although this time rain, which has hit the Brazil Centre South cane belt, so slowing harvesting and reducing output of the sweetener.

In the last 24 hours "for the first time in quite a while we saw significant rains push up into much of east central Brazil", WxRisk.com said.

"These rains came further north and the models were forecasting over the past few days.

"Rains of 12-50mm covered the northern half of Parana, 65% of Sao Paulo, into the southern third of Goias and south west Minas Gerais," the weather service said.

It added that "the rest of Brazil was dry", including the important soybean and corn growing state Mato Grosso.

Data later

Grain and oilseed markets also face the gauntlet of US weekly export sales data later, expected at 450,000-800,000 tonnes for soybeans, compared with 478,100 tonnes last week.

For wheat, export sales are forecast at 400,000-800,000 tonnes, compared with 544,000 tonnes last time.

For corn, a figure of 350,000-650,000 tonnes is expected, up from 333,000 tonnes.

Also, an early warning that Informa Economics is expected on Friday to unveil estimates for small grains, ahead of the US Department of Agriculture's stocks report on September 30, and initial forecasts for US sowings in 2014 too.

Kolbie VanDusseldorp's insight:

Assets of the marketing of agriculture goods is dropping and increasing. The feds are trying to find a way for everyone to make money. Some assets are making more of a proffit than others. The big impact is that some people are making money and some aren't. Everyone needs to make money in order to pay bills.

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Syngenta Launches Global Plan to Address Future Food Security

Syngenta Launches Global Plan to Address Future Food Security | Us Agriculture | Scoop.it

Syngenta Thursday announced the launch of a new set of commitments to address global food security challenges, collectively called the "Good Growth Plan."

The goals of the plan include setting specific, measurable targets that focus on boosting resource efficiency, rejuvenating ecosystems and strengthening rural communities, the company said.

David Morgan, Syngenta Seeds, Inc., president and North America region director, noted in a call with reporters that the plan is a multi-faceted effort that will also include stakeholders from government, industry and non-governmental organizations.

Specifically, the Good Growth plan involves six major goals: increase productivity of major crops by 20% without using more resources, improve farmland fertility, enhance biodiversity; empower smallholder farmers, train farm workers on safe work practices and strive for fair working conditions for all farm workers.

 

The company says the goals reflect its belief that agricultural productivity must increase to feed a global population, which they estimate is currently increasing by 200,000 every day.

"We are facing some really tough challenges," Morgan said, explaining concerns that soon, more food will need to be produced on finite land resources. Those resources, he added, are being threatened by growing urbanization, increased soil erosion and shrinking water availability.

Morgan said Syngenta will be seeking industry and government partners – even competitors – to achieve the stated goals. As part of the effort, the company hosted several launch events around the world Thursday.

"We as a company recognize we cannot do this alone," Morgan said. "Today was the first dialogue in what we hope will be a very fruitful discussion going forward."

Good Growth will be monitored by a third party to determine measurement metrics. According to John Ramsay, Syngenta chief financial officer, the audits will allow the company to ensure it is "making the necessary progress" toward outlined goals, which it hopes will be completed by 2020.

Kolbie VanDusseldorp's insight:

Newer and safer crop and food safety is trying to be met. These new and safer ideas will consist of increasing productivit, enhanceing biodiversity, empowersmallholder farmers, train farm workers on safe work practices and strive for fair working conditions fro all farm workers. The "Good Growth Plan" will help improve the production and yield of crop by 20%. This plan is hoped to be passed to increase the wellness and productivity of crops and the people affected by them.

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Climate Change Soil and Extreme Weather Events | The Energy ...

Climate Change Soil and Extreme Weather Events | The Energy ... | Us Agriculture | Scoop.it
In recent years, the impacts of extreme weather and climate change have been felt in communities across the U.S. In 2012, eleven different extreme weather events, from severe storms and flooding to extreme heat and ...
Kolbie VanDusseldorp's insight:

In the past few years natural disasters have worsened. This past year with the hottest weather in the books, the heat has destroyed many things. The crops had a bad yield forcing farmers to sell their livestock just to stay living in their houses and on the farm. Crops are worth close to nothing with this type of weather. Theses droughts have also caused many wildfires and destroyed many homes and fields and forests. With the droughts here and gone and the winter coming, farmers are struggling to stay on top.

more...
Aanna Roslien's comment, September 27, 2013 10:46 AM
The extreme weather has created a huge impact on the communities. Flooding and extreme heat is destroying crops, road, and more things in these communities. This has a huge impact because it is making people have to start new crops and new lives in different places.
Haley van Zante's comment, October 3, 2013 10:07 PM
I agree, with the way the weather is more people are leaving because of many things that are happening in the communities. The only thing that we can do is help, and keep on living until there is a way to get things back the way it was.
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Washington state alfalfa crop may be contaminated with genetic ...

Washington state alfalfa crop may be contaminated with genetic ... | Us Agriculture | Scoop.it
Farmer in Washington state reports his alfalfa shipment was rejected after testing positive for genetic modification.
Kolbie VanDusseldorp's insight:

As the crops are being ready to picked, they are going under many tests for new diseases and genetic modifications. Thursday, a farmers shipment of alfalfa was rejected because of a certain trait that was genetically modified. Many crops are being modified so the yield of the crop gets better and better. These modifications are not only wasting the crop but are also getting people sick with new types of diseases.

 

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Brent Van Der Wiel's comment, October 3, 2013 7:58 PM
Farmers are worried too much about yields, and not as much as quality of products anymore. They know that the more they put for sale the more money they will get, and once the product is off their hands, it's no longer their problem. They don't think about the effects that the altercations they do to their plants will actually have on the people or animals consuming them.
Haley van Zante's comment, October 3, 2013 10:03 PM
This topic is very interesting because I don't know much about crops either, but I think that they are wasting their time and energy. People are getting sick, and to me it seems like they don't even notice, and they should.
alex barnett's curator insight, February 27, 2014 11:51 AM

A lot of foods in the US have hormones in their products to for longivity, color, and size ect. It's scary to think what these products that contain hormones can do to our bodies in the long run.

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10 Big Trends for Agriculture

10 Big Trends for Agriculture | Us Agriculture | Scoop.it

I’ve got a number of keynotes coming up in the New Year focused on the agricultural sector, and have done quite a few in the past.

My insight resonates with the agricultural crowd, whether farmers, ranchers, or agricultural support and bio-science companies. I recently spoke to the top 100 cattle, stockyard and feedlot operators in the US at a private event in Sonoma County, California. The US Farm Credit Cooperative has brought me in twice. Want to think about opportunity? Read the post, Agriculture 2020! Innovation, Growth & Opportunity — and also read on below.

Massive growth in food demand: The UK Food and Agriculture Association estimates that the world population will increase 47%, to 8.9 billion, by 2050. That’s a potentially huge food marketplace. That fact, more than anything, spells the reality that the agricultural industry is full of potential opportunity!A continuing rampup in efficiency: Simple fact: global agriculture must double in the next 30 years to sustain this type of population growth. Add this reality check: there is little new arable land in the world. The result is that existing producers will have to continue to focus on smarter, better, more efficient growing in order to meeting demand.Hyper-science: One of the realities of the infinite idea loop in which we now find ourselves is this: while there are 19 million known chemical substances today, the number is constantly doubling every 13 years… with some 80 million by 2025, and 5 billion by 2100. Science is evolving at a furious pace, and with science at the root of agriculture, we will continue to see constant, relentless new methods of improving crop and livestock yield.Innovation defines success: Growers that focus on innovation as a core value will find success; their innovation will focus on the triple-feature need for growth, efficiency and ingestion of new science. It will be by adopting new methodologies, products, partnerships and ideas that they will learn to thrive.Retail and packaging innovation drive agricultural decisions: Do this: stare at a banana. Did you know that Chiquita banana has come up with a special membrane that doubles the shelf-life of the product, doing this regulating the flow of gases through the packaging? Take a look at Naturepops: each lollipop is wrapped in fully bio-degradable film made from plant matter, and the bags they come in are made from recycled paper, water-based ink and poly lactic acid made from cornstarch. There’s a huge amount of innovation happening with packaging companies and on the store shelf, and all of these trends have a big impact on agriculture.Intelligent packaging moves front and center: Innovation with packaging will take an even bigger leap in years to come, and will involve hyperconnectivity, a trend that will be driven by food safety, tracability, country of origin and nutrition labelling needs. Our lives are soon to be transformed by packaging that can “connect” to the global data grid that surrounds us; and its’ role will have been transformed from being that of a “container of product” to an intelligent technology that will help us with use of the product, or which will help us address safety and tracability issues.The energy opportunity: Agriculture is set to play a huge role as we wean ourselves away from our dependence on oil and natural gas. The US Department of Energy plans to see alternative fuels provide 5% of the nations energy by 2020, up from 1% today. And it is expected that there will be $1.2 billion in new income for farmers and rural landowners by getting involved with new energy sources such as windpower. Europe plans to have a market that involves at least 20% usage of bio-fuels by 2020, and Feed & Grain estimates that liquid fuels from agricultural feed could replace 25% to 30% of US petroleum imports by that time.Convenience and health take center stage: We will continue to see rapid change in consumer taste and expectations as people comes to place more emphasis or doing their best with the little time that they have. For example, it is expected that fresh-cut snacks grew from an $8.8 billion market in 2003 to $10.5 billion by 2004, according to the International Fresh-Cut Produce Association, as part of a trend in which produce and fruit continue to compete with traditional snacks. Expect such unique trends to growth both in terms of number and rapidity.Direct consumer-producer relationships blossom: As this technology evolves and as people become more concerned about the safety of what they eat, a natural result is a frenetic rate of growth in direct relationships between growers and consumers. Check out SouthDakotaCertifiedBeef– that type of thing defines the future of this trend!Generational transformation: perhaps the biggest trend is that we are about to witness a sea-change in the rate by which new ideas in the world of agriculture are accepted, as a new generation of technology-weaned, innovative younger people take over the family farm.Partnership defines success: If there is one trend I emphasize in every industry I’m involved with, it is that no one individual or organization can know everything there is to know. As I indicated in my I found the future in manure article, this trend is also becoming prevalent in agriculture. We will continue to see an increasing number of partnerships between growers and advisers, suppliers, buyers, retailers and just about everyone else, so that they learn to deal with the massive complexities that emerge from rapid change and innovation.


Via Giri Kumar
more...
Loran Sneller's curator insight, September 29, 2013 3:41 PM

In the year 2050 the world population will increase 47%, to 8.9 billion. Global agriculture must double in the next 30 years to sustain this type of population growth.The result is that existing producers will have to continue to focus on smarter, better, more efficient growing in order to meeting demand.One of the realities of the infinite idea loop in which we now find ourselves is this: while there are 19 million known chemical substances today, the number is constantly doubling every 13 years… with some 80 million by 2025, and 5 billion by 2100. There’s a huge amount of innovation happening with packaging companies and on the store shelf, and all of these trends have a big impact on agriculture.

amagazinecalledbible's curator insight, October 1, 2013 7:25 AM

#windpower #sustainabledevelopment #renewable

Lydia Dingeman's curator insight, October 2, 2013 12:09 PM

This artical is about how the world population is going to increace by 43% by 2050. Agriculture needs to become more efficant in order to keep up with the poplaustion groth of the world.

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Ag futures extend gains on Fed surprise

Ag futures extend gains on Fed surprise | Us Agriculture | Scoop.it

A whiff of "risk on" trading has returned to markets.

The decorrelation of risk assets, which moved like a herd during the global economic crisis and its aftermath, has been one of defining factors of 2013.

In fact, agricultural commodity investors have complained that share price gains this year have been a negative for their markets, in encouraging funds to shift money from crops to equities.

However, the Federal Reserve's decision not to "taper" its asset purchases for now, and stick with the full monthly injection into the US bond market of $85bn a month, has allowed gains across the board, and in a range of geographies.

Markets have responded strongly to the dovish announcement", Barclays said.

"Equity and bond markets rallied, breakevens rose, gold prices increased and the US dollar sold off across the board."

Strong markets

That said, some assets did gain more than others.

Shares managed some healthy gains, adding 1.8% in Tokyo and Hong Kong. And among commodities, industrials did especially well, with London copper gaining more than 2% on Thursday, on top of a 1.6% rise in the last session.

Among agricultural commodities, rubber, as one of the crops used for industrial rather than food use, surfed the wave strongly too, adding 2.7% to 285.30 yen a kilogramme in Tokyo for the benchmark February contract.

Talk that China has bought cargoes from Indonesia and Thailand, and could be looking for more for a stockpiling programme, also boosted the tyre ingredient.

Warning shot

But it was not all a bull's paradise, with some investors doubting that any injection of hedge fund money into ag futures will last long, even though the Fed's move would appear to spell a double boost to commodities.

Not only does it spell faster economic growth, and therefore demand, it has also undermined the dollar, so making dollar-denominated exports cheaper to buyers in other currencies.

Still, "speculative capital in ag market will continue to wane until or unless the next market threat to global food supplies emerges," Richard Feltes at RJ O'Brien said,

And cotton, another industrial crop, certainly lost some of its mojo, having gained more than 1% in the last session, and added just a further 0.1% to 85.61 cents a pound in New York as of 09:35 UK time (04:35 New York time, 03:35 Chicago time).

'Bearish sentiment'

In Kuala Lumpur, palm oil dropped 0.6% to 2,308 ringgit a tonne, pressed by ideas that a stronger ringgit against the dollar would dent an uptick in Malaysian exports.

In the first half of this month, Malaysia's palm shipments soared 13.6%, according to Intertek, with rival cargo surveyor SGS putting the rise at 12.4%.

Furthermore, ideas of seasonally strong output in Indonesia and Malaysia, the top two producers and exporters, continued to grip traders too.

"Bearish sentiment is brought about by forecasted strong production in palm oil as palm oil enters high production cycle in the second half of the year," Say Hwa, head of investment at Philip Futures, said.

"Strong production would cause stockpiles to increase when demand is unable to offset supplies, hence weighing on palm oil prices."

Soy gains

Palm's decline weighed on prices of rival vegetable oil soyoil too, which gained in Chicago, but by a modest 0.4% to 42.89 cents a pound for December delivery.

That was well behind futures in soymeal, the other main soybeanprocessing product, which added 0.9% to $429.80 a short ton for December, while soybeans themselves were up 0.7% to $13.57 ¼ a bushel for the benchmark November lot.

Besides the boost to prices from the Fed's move, soybeans have also received a boost from more than 2m tonnes of US export sales announced on Wednesday, mostly to China, and a decision by Indonesia to scrap temporarily its 5% soybean import tariff on the oilseed, besides of course by South American weather.

Dryness in Argentina and Brazil has been raising some small concerns, in hampering soybean sowings, a factor which could have implications for sowings of follow-on safrinha corn too if a delayed soy harvest cuts into the planting window for that crop early in 2014.

'Widespread Midwest rains'

Not that everything is all going bulls' way.

Joyce Liu at Phillip Futures noted "forecasted rains in the US Midwest which could benefit soybeans that were maturing later.

"It remains to be seen if the possible improvement in late-maturing crops could significantly improve soybean yields which had been adversely affected by recent hot and dry weather conditions."

And weather service MDA, for instance, said that "widespread Midwest rains through Saturday should continue to improve moisture, it will be too late to benefit soybeans and corn".

Still, early harvest reports for soybeans have been not so bad, if less promising than for corn.

"Bean harvest has been inching along with rains slowing progress, but so far early yield reports have not been the disaster expected in Iowa and Illinois," Benson Quinn Commodities said.

Soybeans vs corn

Corn for December kept up, gaining 0.8% to $4.60 a bushel, again a rise mainly attributed to the Fed's move, although analysts did manage to find some reasons for fundamental support.

Ms Liu noted that the Midwest rains were likely to "cause corn harvest to slow down", adding delays to a process already running well behind the average pace, thanks to the delayed spring sowing season.

Mr Feltes clocked widespread market talk that "soybeans will move more readily than corn at harvest", with growers unwilling to sell the grain at low prices, a factor "which suggests further slippage" in the ratio between November soybean and December corn futures.

For now, anyway. "Longer term, we think soybean:corn ratio will rebound amid the pressing need to increase 2014 US soybean area, and the ongoing growth in Chinese soybean import demand," Mr Feltes said.

'Continue to wreak havoc'

Still, it was actually wheat which fare best among the Chicago majors, adding 1.2% to $6.54 ¼ a bushel for December, edging ever closer to returning its premium over corn to $2 a bushel.

Sure, the market has a record world harvest in 2013-14 to digest.

However, some more positive factors "are starting to show some influence", Brian Henry at Benson Quinn Commodities said.

Technically, "upward seasonal momentum has been slow to start, but it hasn't completely failed either."

And on fundamentals, there are continued concerns over the rain-beset Russia harvest, on quality grounds at least, on top of frost damage to Brazil's crop, and the lack of rain in Argentina.

"Dry conditions continue to wreak havoc on Argentine wheat production," Mr Henry said.

'Has some value'

While Australia's grain belt has received much-needed rainfall, "may have come too late for some crops in the far north western New South Wales wheat belt", Luke Mathews at Commonwealth Bank of Australia said.

Mr Henry added: "Wheat prices will suffer if corn and soybeans need to work lower.

"But there are enough factors that indicate wheat has some value near the current price levels to keep this market from selling off sharply."

That said, Minneapolis spring wheat underperformed, adding 0.8% to $7.06 a bushel, weighed by continuing strong reports from the Canadian spring wheat harvest, with the farm ministry upgrading its crop estimate overnight.

Sugar sweetens

Wheat was just about keeping up with raw sugar, which added 1.2% to 17.09 cents a pound in New York for October delivery, also boosted by South American weather – although this time rain, which has hit the Brazil Centre South cane belt, so slowing harvesting and reducing output of the sweetener.

In the last 24 hours "for the first time in quite a while we saw significant rains push up into much of east central Brazil", WxRisk.com said.

"These rains came further north and the models were forecasting over the past few days.

"Rains of 12-50mm covered the northern half of Parana, 65% of Sao Paulo, into the southern third of Goias and south west Minas Gerais," the weather service said.

It added that "the rest of Brazil was dry", including the important soybean and corn growing state Mato Grosso.

Data later

Grain and oilseed markets also face the gauntlet of US weekly export sales data later, expected at 450,000-800,000 tonnes for soybeans, compared with 478,100 tonnes last week.

For wheat, export sales are forecast at 400,000-800,000 tonnes, compared with 544,000 tonnes last time.

For corn, a figure of 350,000-650,000 tonnes is expected, up from 333,000 tonnes.

Also, an early warning that Informa Economics is expected on Friday to unveil estimates for small grains, ahead of the US Department of Agriculture's stocks report on September 30, and initial forecasts for US sowings in 2014 too.

more...
Kolbie VanDusseldorp's curator insight, October 3, 2013 11:08 PM

Assets of the marketing of agriculture goods is dropping and increasing. The feds are trying to find a way for everyone to make money. Some assets are making more of a proffit than others. The big impact is that some people are making money and some aren't. Everyone needs to make money in order to pay bills.

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Climate Change Soil and Extreme Weather Events | The Energy ...

Climate Change Soil and Extreme Weather Events | The Energy ... | Us Agriculture | Scoop.it
In recent years, the impacts of extreme weather and climate change have been felt in communities across the U.S. In 2012, eleven different extreme weather events, from severe storms and flooding to extreme heat and ...
more...
Aanna Roslien's comment, September 27, 2013 10:46 AM
The extreme weather has created a huge impact on the communities. Flooding and extreme heat is destroying crops, road, and more things in these communities. This has a huge impact because it is making people have to start new crops and new lives in different places.
Haley van Zante's comment, October 3, 2013 10:07 PM
I agree, with the way the weather is more people are leaving because of many things that are happening in the communities. The only thing that we can do is help, and keep on living until there is a way to get things back the way it was.
Kolbie VanDusseldorp's curator insight, October 3, 2013 10:38 PM

In the past few years natural disasters have worsened. This past year with the hottest weather in the books, the heat has destroyed many things. The crops had a bad yield forcing farmers to sell their livestock just to stay living in their houses and on the farm. Crops are worth close to nothing with this type of weather. Theses droughts have also caused many wildfires and destroyed many homes and fields and forests. With the droughts here and gone and the winter coming, farmers are struggling to stay on top.

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Syngenta Launches Global Plan to Address Future Food Security

Syngenta Launches Global Plan to Address Future Food Security | Us Agriculture | Scoop.it

Syngenta Thursday announced the launch of a new set of commitments to address global food security challenges, collectively called the "Good Growth Plan."

The goals of the plan include setting specific, measurable targets that focus on boosting resource efficiency, rejuvenating ecosystems and strengthening rural communities, the company said.

David Morgan, Syngenta Seeds, Inc., president and North America region director, noted in a call with reporters that the plan is a multi-faceted effort that will also include stakeholders from government, industry and non-governmental organizations.

Specifically, the Good Growth plan involves six major goals: increase productivity of major crops by 20% without using more resources, improve farmland fertility, enhance biodiversity; empower smallholder farmers, train farm workers on safe work practices and strive for fair working conditions for all farm workers.

 

The company says the goals reflect its belief that agricultural productivity must increase to feed a global population, which they estimate is currently increasing by 200,000 every day.

"We are facing some really tough challenges," Morgan said, explaining concerns that soon, more food will need to be produced on finite land resources. Those resources, he added, are being threatened by growing urbanization, increased soil erosion and shrinking water availability.

Morgan said Syngenta will be seeking industry and government partners – even competitors – to achieve the stated goals. As part of the effort, the company hosted several launch events around the world Thursday.

"We as a company recognize we cannot do this alone," Morgan said. "Today was the first dialogue in what we hope will be a very fruitful discussion going forward."

Good Growth will be monitored by a third party to determine measurement metrics. According to John Ramsay, Syngenta chief financial officer, the audits will allow the company to ensure it is "making the necessary progress" toward outlined goals, which it hopes will be completed by 2020.

more...
Kolbie VanDusseldorp's curator insight, October 3, 2013 10:55 PM

Newer and safer crop and food safety is trying to be met. These new and safer ideas will consist of increasing productivit, enhanceing biodiversity, empowersmallholder farmers, train farm workers on safe work practices and strive for fair working conditions fro all farm workers. The "Good Growth Plan" will help improve the production and yield of crop by 20%. This plan is hoped to be passed to increase the wellness and productivity of crops and the people affected by them.

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Soil moisture for winter wheat mixed - The Lawton Constitution

Soil moisture for winter wheat mixed - The Lawton Constitution | Us Agriculture | Scoop.it
Soil moisture for winter wheat mixed
The Lawton Constitution
Soil moisture for winter wheat planting this fall is a mixed bag, according to Jeff Edwards, Oklahoma State University Extension small grains specialist.
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Loran Sneller's curator insight, September 29, 2013 4:11 PM

This year for winter wheat they don't know if it is going to grow like it should or not. Soils in central Oklahoma are dry on top, but have good subsoil moisture. However, soils in western Oklahoma and the Panhandle areas are dry all the way down. I don't think that is is going to be a good year. Just from what I read it doesn't sound good.

Kolbie VanDusseldorp's curator insight, October 3, 2013 11:01 PM

In Oklahoma the soil is not in the right conditions for growing wheat. The ground temp. can be up to 90 degrees at some points and it dry at the top. The dry and hot conditions cause the wheat not to germinate and not produce good yield. This causes no crop to be picked and can affect the wellness of the soil. With the hot and dry conditions it makes it hard for crops to yield and for the soil to recooperate itself for crops. Not only does the wheat not germinate but cause bad soil erosion. In the good, agronomists are coming up with new genetics to create a type of wheat to be able to produce in this type of weather. Agronomists are trying to create a wheat with a longer stem in order to reach deeper into the ground.

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Soil moisture for winter wheat mixed - The Lawton Constitution

Soil moisture for winter wheat mixed - The Lawton Constitution | Us Agriculture | Scoop.it
Soil moisture for winter wheat mixed
The Lawton Constitution
Soil moisture for winter wheat planting this fall is a mixed bag, according to Jeff Edwards, Oklahoma State University Extension small grains specialist.
Kolbie VanDusseldorp's insight:

In Oklahoma the soil is not in the right conditions for growing wheat. The ground temp. can be up to 90 degrees at some points and it dry at the top. The dry and hot conditions cause the wheat not to germinate and not produce good yield. This causes no crop to be picked and can affect the wellness of the soil. With the hot and dry conditions it makes it hard for crops to yield and for the soil to recooperate itself for crops. Not only does the wheat not germinate but cause bad soil erosion. In the good, agronomists are coming up with new genetics to create a type of wheat to be able to produce in this type of weather. Agronomists are trying to create a wheat with a longer stem in order to reach deeper into the ground.

more...
Loran Sneller's curator insight, September 29, 2013 4:11 PM

This year for winter wheat they don't know if it is going to grow like it should or not. Soils in central Oklahoma are dry on top, but have good subsoil moisture. However, soils in western Oklahoma and the Panhandle areas are dry all the way down. I don't think that is is going to be a good year. Just from what I read it doesn't sound good.

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Southwest Idaho growers salvaging crops hit by hail - Capital Press

Southwest Idaho growers salvaging crops hit by hail - Capital Press | Us Agriculture | Scoop.it
Southwest Idaho growers salvaging crops hit by hail Capital Press Martineau, who farms 7 miles south of Nampa, is among several southwestern Idaho growers now attempting to salvage as much of their crops as possible following the devastating hail...
Kolbie VanDusseldorp's insight:

In southwest Idaho crops were damaged severely by hail and thunderstorms. Crops were destroyed causing farmers to sell livestock and do other work to make their money. These crops were being salvaged as much as possible  after these storms hit. Not only field crops but family gardens were destroyed. These families were devastated after seeing this damage and knowing they will have to wait till next year to plant again.

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Loran Sneller's curator insight, September 29, 2013 4:19 PM

Bean acreage had already been cut and laid down, awaiting harvest, when golf ball-sized hail arrived on Sept. 5. Two hours after the hail pounded his beans into the ground. Another front brought an inch and a half of rain, covering his garden pole in mud. Attempting to salvage as much of their crops as possible following the devastating hail storm, which swept through an area 3 miles wide and 25 miles long. This is really bad because some of the farmers won't have anything to combine or harvest.

 

 

AJ Kingery's comment, October 1, 2013 10:42 AM
This could lose peoples jobs. They lost all their money that they waited for all year but now its all lost. They couldn't of done anything to it but they just lost all their money. That's how they get paid by growing crops but all of them are gone.
Brent Van Der Wiel's comment, October 3, 2013 8:02 PM
Storms are a risk that farmers have to accept and find a way around. If hail and damage hits crops early, they may not continue to grow, but if the hail is late in the season the crops will still be easily salvageable. Hail damage does a lot in terms of bushels harvested, and it can cause the farmers to lose a very large profit. This could put some smaller farmers out of business, but larger fields shouldn't have a problem recovering
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Hog herd growth spurs upgrade to soy price hopes

Hog herd growth spurs upgrade to soy price hopes | Us Agriculture | Scoop.it

Standard Chartered lifted its forecast for soybean prices to above the futures curve, citing strong demand from pork producers – both in the US and in China, where reviving margins are sparking herd rebuilding.

The comments came ahead of the announcement on Wednesday by the US Department of Agriculture, through its daily reporting system, of the sale of 1.93m tonnes of US soybeans to China, plus a further 182,000 tonnes to an unknown destination. 

The bank recommended investors buy Chicago's September 2014 soybean contract, trading on Wednesday at $12.21 ¾ a bushel, foreseeing it rising to $13.50 a bushel, spurred by tightness injected both by a disappointing US harvest and resilient demand.

Indeed, the bank said it questioned "the rationale" behind a US Department of Agriculture downgrade last week by 35m bushels to its forecasts for the US soybean crush and exports in 2013-14, given hog sector dynamics.

"As we enter the fourth quarter of 2013, the market should receive support from the tightening balance sheet in the US and improving demand from China," StanChart analyst Abah Ofon said.

'Strongly bullish'

In the US, StanChart flagged the appetite to expand the pig herd which has driven hedge funds to take their most bullish position ever on Chicago lean hog futures and options, holding a record net long position as of last Tuesday.

"Investor sentiment towards hogs is strongly bullish," Mr Ofon said, noting industry reports "that producers are enjoying positive margins for the first time in about a year".

Margins are being helped by, besides a retreat in grain prices, decent pork exports.

While down 5% year on year in the first seven months of 2013 to 1.23m tonnes, this includes a mainly accounted for by a slump in shipments to Russia, which has imposed curbs on pork obtained from hogs finished using the ractopamine growth promoter.

"We expect strong US pork exports," Mr Ofon said, flagging China as a "core market, as its improving domestic demand provides momentum to the global supply chain".

Chinese dynamics

Indeed, Chinese pork imports rose 30% year on year to 51,000 tonnes in July, and should maintain growth through 2013 given seasonal patterns and pork prices which are at their highest since April last year.

This rise in prices is encouraging domestic production too, boosting the important hog-to-feed ratio, and driving a sustained increase in the Chinese herd, by far the world's biggest, to 473m head this month, up 1.3% from August.

The quest for soymeal, the high protein feed produced from soybeans, has lifted profits for soy processors, and could continue to "improve crush margins for processors in China, in turn pulling soybean prices higher" and improving the appetite for imports.

Corn vs soybeans

The support for soybean prices contrasts with a soft week for Chicago futures, which on Wednesday set course for a fourth successive negative close.

This has left them underperforming corn, reducing the November soybean futures: December corn futures ratio to 2.95:1 from a historically high level of 3.01:1 reached last week.

Indeed, some brokers, such as Morgan Stanley and Societe Generale, have flagged the potential for corn futures to outperform soybeans, given the extent of risk premium investors have already built into prices of the oilseed.

The forecast of growth in demand from US hog producers comes against a backdrop of a slump in US slaughter rates which last week fell to 2.172m head, down 10.5% year on year.

Analysts have said it is unclear yet whether this reduction is down to one-off effects, such as hot August which may have slowed the growth of hogs to slaughter weight, or to effects such as a decrease in use of ractopamine, or potentially to greater herd losses from PECDv porcine diahorrea virus than had been thought.

"Eventually, slaughter weights will tell us if producers are falling behind on marketings or if the weekly slaughter decline points to a true shortage of hogs on the ground," a report from Paragon Economics and Steiner Consulting said.

Kolbie VanDusseldorp's insight:

The more time that goes by the higher prices and demands get. In the hog industry in the U.S. many farmers are struggling to keep on top with raising hogs. It costs more to feed the hog than it does for farmers to profet off of there hogs. The demand for hogs and pork is on the rise. Soybean prices are also on the rise and are being shipped across the world from the U.S. The price for soybeans per bushel is about $13.50. The shortage of feed to the hogs is causing them to fall short of slaughter weights. Eventually slaughter weights will tell us if producers are falling behind on marketings or if the weekly slaughter declin points to a true shortage of hogs on the ground.

more...
Loran Sneller's curator insight, October 2, 2013 1:53 PM

As the crops are coming out of the field some of the soybeans are going up in price. The price now is $12.21 a bussel and some people see it going to $13.50 a bussel.The bank said it questioned "the rationale" behind a US Department of Agriculture downgrade last week by 35m bushels to its forecasts for the US soybean crush and exports in 2013-14, given hog sector dynamics. I think that this is a good thing because then people are making good money from last year when we didn't get anything!

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10 Big Trends for Agriculture

10 Big Trends for Agriculture | Us Agriculture | Scoop.it

I’ve got a number of keynotes coming up in the New Year focused on the agricultural sector, and have done quite a few in the past.

My insight resonates with the agricultural crowd, whether farmers, ranchers, or agricultural support and bio-science companies. I recently spoke to the top 100 cattle, stockyard and feedlot operators in the US at a private event in Sonoma County, California. The US Farm Credit Cooperative has brought me in twice. Want to think about opportunity? Read the post, Agriculture 2020! Innovation, Growth & Opportunity — and also read on below.

Massive growth in food demand: The UK Food and Agriculture Association estimates that the world population will increase 47%, to 8.9 billion, by 2050. That’s a potentially huge food marketplace. That fact, more than anything, spells the reality that the agricultural industry is full of potential opportunity!A continuing rampup in efficiency: Simple fact: global agriculture must double in the next 30 years to sustain this type of population growth. Add this reality check: there is little new arable land in the world. The result is that existing producers will have to continue to focus on smarter, better, more efficient growing in order to meeting demand.Hyper-science: One of the realities of the infinite idea loop in which we now find ourselves is this: while there are 19 million known chemical substances today, the number is constantly doubling every 13 years… with some 80 million by 2025, and 5 billion by 2100. Science is evolving at a furious pace, and with science at the root of agriculture, we will continue to see constant, relentless new methods of improving crop and livestock yield.Innovation defines success: Growers that focus on innovation as a core value will find success; their innovation will focus on the triple-feature need for growth, efficiency and ingestion of new science. It will be by adopting new methodologies, products, partnerships and ideas that they will learn to thrive.Retail and packaging innovation drive agricultural decisions: Do this: stare at a banana. Did you know that Chiquita banana has come up with a special membrane that doubles the shelf-life of the product, doing this regulating the flow of gases through the packaging? Take a look at Naturepops: each lollipop is wrapped in fully bio-degradable film made from plant matter, and the bags they come in are made from recycled paper, water-based ink and poly lactic acid made from cornstarch. There’s a huge amount of innovation happening with packaging companies and on the store shelf, and all of these trends have a big impact on agriculture.Intelligent packaging moves front and center: Innovation with packaging will take an even bigger leap in years to come, and will involve hyperconnectivity, a trend that will be driven by food safety, tracability, country of origin and nutrition labelling needs. Our lives are soon to be transformed by packaging that can “connect” to the global data grid that surrounds us; and its’ role will have been transformed from being that of a “container of product” to an intelligent technology that will help us with use of the product, or which will help us address safety and tracability issues.The energy opportunity: Agriculture is set to play a huge role as we wean ourselves away from our dependence on oil and natural gas. The US Department of Energy plans to see alternative fuels provide 5% of the nations energy by 2020, up from 1% today. And it is expected that there will be $1.2 billion in new income for farmers and rural landowners by getting involved with new energy sources such as windpower. Europe plans to have a market that involves at least 20% usage of bio-fuels by 2020, and Feed & Grain estimates that liquid fuels from agricultural feed could replace 25% to 30% of US petroleum imports by that time.Convenience and health take center stage: We will continue to see rapid change in consumer taste and expectations as people comes to place more emphasis or doing their best with the little time that they have. For example, it is expected that fresh-cut snacks grew from an $8.8 billion market in 2003 to $10.5 billion by 2004, according to the International Fresh-Cut Produce Association, as part of a trend in which produce and fruit continue to compete with traditional snacks. Expect such unique trends to growth both in terms of number and rapidity.Direct consumer-producer relationships blossom: As this technology evolves and as people become more concerned about the safety of what they eat, a natural result is a frenetic rate of growth in direct relationships between growers and consumers. Check out SouthDakotaCertifiedBeef– that type of thing defines the future of this trend!Generational transformation: perhaps the biggest trend is that we are about to witness a sea-change in the rate by which new ideas in the world of agriculture are accepted, as a new generation of technology-weaned, innovative younger people take over the family farm.Partnership defines success: If there is one trend I emphasize in every industry I’m involved with, it is that no one individual or organization can know everything there is to know. As I indicated in my I found the future in manure article, this trend is also becoming prevalent in agriculture. We will continue to see an increasing number of partnerships between growers and advisers, suppliers, buyers, retailers and just about everyone else, so that they learn to deal with the massive complexities that emerge from rapid change and innovation.


Via Giri Kumar, Kolbie VanDusseldorp
Kolbie VanDusseldorp's insight:

By the year 2050, it is guessed our population is going to increase 47% which means 8.9 million people. The global produce of America will have to double in order to sustain the need of the American people. Hyper-science, will need to keep improving plant and animal growth everyday to keep up with our guesstimated populatin growth. The big impact on our world is that our population is growing faster than we can produce food and new technologies to help increase our food production. Our world is at a slight chance of not being able to produce enough food for our people.

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Loran Sneller's curator insight, September 29, 2013 3:41 PM

In the year 2050 the world population will increase 47%, to 8.9 billion. Global agriculture must double in the next 30 years to sustain this type of population growth.The result is that existing producers will have to continue to focus on smarter, better, more efficient growing in order to meeting demand.One of the realities of the infinite idea loop in which we now find ourselves is this: while there are 19 million known chemical substances today, the number is constantly doubling every 13 years… with some 80 million by 2025, and 5 billion by 2100. There’s a huge amount of innovation happening with packaging companies and on the store shelf, and all of these trends have a big impact on agriculture.

amagazinecalledbible's curator insight, October 1, 2013 7:25 AM

#windpower #sustainabledevelopment #renewable

Lydia Dingeman's curator insight, October 2, 2013 12:09 PM

This artical is about how the world population is going to increace by 43% by 2050. Agriculture needs to become more efficant in order to keep up with the poplaustion groth of the world.

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Hog herd growth spurs upgrade to soy price hopes

Hog herd growth spurs upgrade to soy price hopes | Us Agriculture | Scoop.it

Standard Chartered lifted its forecast for soybean prices to above the futures curve, citing strong demand from pork producers – both in the US and in China, where reviving margins are sparking herd rebuilding.

The comments came ahead of the announcement on Wednesday by the US Department of Agriculture, through its daily reporting system, of the sale of 1.93m tonnes of US soybeans to China, plus a further 182,000 tonnes to an unknown destination. 

The bank recommended investors buy Chicago's September 2014 soybean contract, trading on Wednesday at $12.21 ¾ a bushel, foreseeing it rising to $13.50 a bushel, spurred by tightness injected both by a disappointing US harvest and resilient demand.

Indeed, the bank said it questioned "the rationale" behind a US Department of Agriculture downgrade last week by 35m bushels to its forecasts for the US soybean crush and exports in 2013-14, given hog sector dynamics.

"As we enter the fourth quarter of 2013, the market should receive support from the tightening balance sheet in the US and improving demand from China," StanChart analyst Abah Ofon said.

'Strongly bullish'

In the US, StanChart flagged the appetite to expand the pig herd which has driven hedge funds to take their most bullish position ever on Chicago lean hog futures and options, holding a record net long position as of last Tuesday.

"Investor sentiment towards hogs is strongly bullish," Mr Ofon said, noting industry reports "that producers are enjoying positive margins for the first time in about a year".

Margins are being helped by, besides a retreat in grain prices, decent pork exports.

While down 5% year on year in the first seven months of 2013 to 1.23m tonnes, this includes a mainly accounted for by a slump in shipments to Russia, which has imposed curbs on pork obtained from hogs finished using the ractopamine growth promoter.

"We expect strong US pork exports," Mr Ofon said, flagging China as a "core market, as its improving domestic demand provides momentum to the global supply chain".

Chinese dynamics

Indeed, Chinese pork imports rose 30% year on year to 51,000 tonnes in July, and should maintain growth through 2013 given seasonal patterns and pork prices which are at their highest since April last year.

This rise in prices is encouraging domestic production too, boosting the important hog-to-feed ratio, and driving a sustained increase in the Chinese herd, by far the world's biggest, to 473m head this month, up 1.3% from August.

The quest for soymeal, the high protein feed produced from soybeans, has lifted profits for soy processors, and could continue to "improve crush margins for processors in China, in turn pulling soybean prices higher" and improving the appetite for imports.

Corn vs soybeans

The support for soybean prices contrasts with a soft week for Chicago futures, which on Wednesday set course for a fourth successive negative close.

This has left them underperforming corn, reducing the November soybean futures: December corn futures ratio to 2.95:1 from a historically high level of 3.01:1 reached last week.

Indeed, some brokers, such as Morgan Stanley and Societe Generale, have flagged the potential for corn futures to outperform soybeans, given the extent of risk premium investors have already built into prices of the oilseed.

The forecast of growth in demand from US hog producers comes against a backdrop of a slump in US slaughter rates which last week fell to 2.172m head, down 10.5% year on year.

Analysts have said it is unclear yet whether this reduction is down to one-off effects, such as hot August which may have slowed the growth of hogs to slaughter weight, or to effects such as a decrease in use of ractopamine, or potentially to greater herd losses from PECDv porcine diahorrea virus than had been thought.

"Eventually, slaughter weights will tell us if producers are falling behind on marketings or if the weekly slaughter decline points to a true shortage of hogs on the ground," a report from Paragon Economics and Steiner Consulting said.

more...
Loran Sneller's curator insight, October 2, 2013 1:53 PM

As the crops are coming out of the field some of the soybeans are going up in price. The price now is $12.21 a bussel and some people see it going to $13.50 a bussel.The bank said it questioned "the rationale" behind a US Department of Agriculture downgrade last week by 35m bushels to its forecasts for the US soybean crush and exports in 2013-14, given hog sector dynamics. I think that this is a good thing because then people are making good money from last year when we didn't get anything!

Kolbie VanDusseldorp's curator insight, October 3, 2013 10:29 PM

The more time that goes by the higher prices and demands get. In the hog industry in the U.S. many farmers are struggling to keep on top with raising hogs. It costs more to feed the hog than it does for farmers to profet off of there hogs. The demand for hogs and pork is on the rise. Soybean prices are also on the rise and are being shipped across the world from the U.S. The price for soybeans per bushel is about $13.50. The shortage of feed to the hogs is causing them to fall short of slaughter weights. Eventually slaughter weights will tell us if producers are falling behind on marketings or if the weekly slaughter declin points to a true shortage of hogs on the ground.

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Washington state alfalfa crop may be contaminated with genetic ...

Washington state alfalfa crop may be contaminated with genetic ... | Us Agriculture | Scoop.it
Farmer in Washington state reports his alfalfa shipment was rejected after testing positive for genetic modification.
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Brent Van Der Wiel's comment, October 3, 2013 7:58 PM
Farmers are worried too much about yields, and not as much as quality of products anymore. They know that the more they put for sale the more money they will get, and once the product is off their hands, it's no longer their problem. They don't think about the effects that the altercations they do to their plants will actually have on the people or animals consuming them.
Haley van Zante's comment, October 3, 2013 10:03 PM
This topic is very interesting because I don't know much about crops either, but I think that they are wasting their time and energy. People are getting sick, and to me it seems like they don't even notice, and they should.
alex barnett's curator insight, February 27, 2014 11:51 AM

A lot of foods in the US have hormones in their products to for longivity, color, and size ect. It's scary to think what these products that contain hormones can do to our bodies in the long run.

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Livestock, value chains, growth: LIVES sponsors 21st Ethiopian ...

Livestock, value chains, growth: LIVES sponsors 21st Ethiopian ... | Us Agriculture | Scoop.it
The annual conference of Ethiopian Society of Animal Production (ESAP) was held for the 21st time at the headquarters of the Ethiopian Institute of Agricultural Research (EIAR) from August 28-30 The theme was 'Livestock ...
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Southwest Idaho growers salvaging crops hit by hail - Capital Press

Southwest Idaho growers salvaging crops hit by hail - Capital Press | Us Agriculture | Scoop.it
Southwest Idaho growers salvaging crops hit by hail Capital Press Martineau, who farms 7 miles south of Nampa, is among several southwestern Idaho growers now attempting to salvage as much of their crops as possible following the devastating hail...
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AJ Kingery's comment, October 1, 2013 10:42 AM
This could lose peoples jobs. They lost all their money that they waited for all year but now its all lost. They couldn't of done anything to it but they just lost all their money. That's how they get paid by growing crops but all of them are gone.
Brent Van Der Wiel's comment, October 3, 2013 8:02 PM
Storms are a risk that farmers have to accept and find a way around. If hail and damage hits crops early, they may not continue to grow, but if the hail is late in the season the crops will still be easily salvageable. Hail damage does a lot in terms of bushels harvested, and it can cause the farmers to lose a very large profit. This could put some smaller farmers out of business, but larger fields shouldn't have a problem recovering
Kolbie VanDusseldorp's curator insight, October 3, 2013 10:51 PM

In southwest Idaho crops were damaged severely by hail and thunderstorms. Crops were destroyed causing farmers to sell livestock and do other work to make their money. These crops were being salvaged as much as possible  after these storms hit. Not only field crops but family gardens were destroyed. These families were devastated after seeing this damage and knowing they will have to wait till next year to plant again.