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        • Mortgage rates today, April 3, 2020 plus reviews
        • Microsoft Vulnerability: Hundreds of Microsoft Servers Contaminated By Crypto-Mining Botnet Since 2018
        • Today Bitcoin Price at $6,800 USD
        • Pandemic Is Changing BTC Usage in ‘Unexpected Ways’
        • Macropay on Alternative & local payment methods that are reshaping global e-commerce
        • Bank of America is preparing for a flood of Applications to Small-Business Loan
        • Microsoft might be the best tech stock in this market
        • US Airlines To Work Collectively, Consolidate Flights
        • Bank of America maintaining business continuity and protecting the bottom line
        • US long-term mortgage rates drop
        • Chase bank will raise up to $10 billion
          • Bitcoin Price Bulls have been rejected at $7,000
          • Stock Market: 4 Top Stock Trades for Wednesday: NVDA, AVGO, BAC, IQ
          • Stock Market April 2 – Edge Higher; Oil Surges, Bonds Fall, Dollar Rose
          • Bitcoin Price Simply Surged to $6,500 After Over 10% Weekend Crash
          • Today Bitcoin Price at $7,000: BTC Leaps to Retest $7,000
          • Bank of America agreed to allow 50,000 mortgage customers to defer payments
        • Prime ICO Advertising and marketing Companies
          • Bank of America U.S. Minimum Hourly Wage Reaches $20
            • Bitcoin Price Prediction April: Three Key Causes Why BTC May Plunge Beneath $5,000
              • Roll up the Sleeves! American Airlines was down -10.34%
              • Mortgage calculator rates today April 2, 2020
              • Mortgage Calculator Small businesses: SB have ‘a million inquiries’ regarding check help loans
              • Bitcoin Price Today April 1 – Bitcoin Takes Tumble
                • With Bank of America card you can request a payment deferral online
                  • Bank of America fields 150,000 installment deferral demands
                • Coronavirus – Travel Insurance no cover cancellations
                  • Bank of America said it won’t cut any positions
              • Bitcoin Price Today April 2 – BTC rise to $6,700
              • Mortgage calculator rates today March 31, 2020
              • Bitcoin Price Momentum Sign Reverses, Bull Run Lastly Inbound?
              • Bitcoin Price Recovering After a Sharp Decline
              • Fintech News Airbnb – How hosts are fighting back against Covid-19 fallout
              • Market Stock Boeing – Challenging Times Ahead for Boeing Stock
            • Bitcoin Price Bulls – is Forming a Bull Cross After Rallying to $6,500
            • P2P Crowdlending – Average Interest Rate 18%
            • $633 Million BTC Transferred For Simply $0.26 Payment
        • Bank of America will provide up to $250 million
        • Bank of America VC: You tend to do the wrong thing at the wrong time
          • Bank of America sees big year for Microsoft ahead
            • American Airlines coronavirus downgrade
              • US Bank Raises $586M Against COVID-19
                • Bank of America’s Solid Liquidity to Help Covid-19 Crisis
      • Bitcoin Price Rejected $6,600
      • Bitcoin Price Trace It Will Fall to $ 5 K
      • BTC Price Today April 4
      • Best Fintech Companies to Work for 2020
    • Guest Posts
      • Bitcoin Price Jump as Coronavirus Curve Begins to Flatten
        • Bitcoin Price Today April 3
        • Bitcoin Price Is Sometimes Bullish in Q2
        • Bitcoin Price Tumble Beneath $ 6,000
        • BTC Price Today 5 | April, 2020
        • Bitcoin Price and S&P 500 – Here’s how much bitcoin beat the Dow and S&P 500 in the first quarter
          • Today Bitcoin Price at $6,600
            • Bitcoin Price Bulls Reaches: “Live or Die”
            • BTC Price Today | 6 April 2020
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      • Mortgage calculator rates today April 1, 2020
      • Mortgage Calculator – Students Benefits
      • Mortgage Calculator – Homeowners and renters Get Payment Relief
      • Calculator for mortgage to millennials
      • Mortgage Calculator Modification – What Is?
      • Mortgage Calculator Canada: Rates Are Rising
      • Mortgage Calculator Home – Is it time to repair your own home mortgage?
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      • Mortgage Calculator Rates Today April 3
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            • Bitcoin Price Volume Decline with Lowering Volatility
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      • News
        • Mortgage rates today, April 3, 2020 plus reviews
        • Microsoft Vulnerability: Hundreds of Microsoft Servers Contaminated By Crypto-Mining Botnet Since 2018
        • Today Bitcoin Price at $6,800 USD
        • Pandemic Is Changing BTC Usage in ‘Unexpected Ways’
        • Macropay on Alternative & local payment methods that are reshaping global e-commerce
        • Bank of America is preparing for a flood of Applications to Small-Business Loan
        • Microsoft might be the best tech stock in this market
        • US Airlines To Work Collectively, Consolidate Flights
        • Bank of America maintaining business continuity and protecting the bottom line
        • US long-term mortgage rates drop
        • Chase bank will raise up to $10 billion
          • Bitcoin Price Bulls have been rejected at $7,000
          • Stock Market: 4 Top Stock Trades for Wednesday: NVDA, AVGO, BAC, IQ
          • Stock Market April 2 – Edge Higher; Oil Surges, Bonds Fall, Dollar Rose
          • Bitcoin Price Simply Surged to $6,500 After Over 10% Weekend Crash
          • Today Bitcoin Price at $7,000: BTC Leaps to Retest $7,000
          • Bank of America agreed to allow 50,000 mortgage customers to defer payments
        • Prime ICO Advertising and marketing Companies
          • Bank of America U.S. Minimum Hourly Wage Reaches $20
            • Bitcoin Price Prediction April: Three Key Causes Why BTC May Plunge Beneath $5,000
              • Roll up the Sleeves! American Airlines was down -10.34%
              • Mortgage calculator rates today April 2, 2020
              • Mortgage Calculator Small businesses: SB have ‘a million inquiries’ regarding check help loans
              • Bitcoin Price Today April 1 – Bitcoin Takes Tumble
                • With Bank of America card you can request a payment deferral online
                  • Bank of America fields 150,000 installment deferral demands
                • Coronavirus – Travel Insurance no cover cancellations
                  • Bank of America said it won’t cut any positions
              • Bitcoin Price Today April 2 – BTC rise to $6,700
              • Mortgage calculator rates today March 31, 2020
              • Bitcoin Price Momentum Sign Reverses, Bull Run Lastly Inbound?
              • Bitcoin Price Recovering After a Sharp Decline
              • Fintech News Airbnb – How hosts are fighting back against Covid-19 fallout
              • Market Stock Boeing – Challenging Times Ahead for Boeing Stock
            • Bitcoin Price Bulls – is Forming a Bull Cross After Rallying to $6,500
            • P2P Crowdlending – Average Interest Rate 18%
            • $633 Million BTC Transferred For Simply $0.26 Payment
        • Bank of America will provide up to $250 million
        • Bank of America VC: You tend to do the wrong thing at the wrong time
          • Bank of America sees big year for Microsoft ahead
            • American Airlines coronavirus downgrade
              • US Bank Raises $586M Against COVID-19
                • Bank of America’s Solid Liquidity to Help Covid-19 Crisis
      • Bitcoin Price Rejected $6,600
      • Bitcoin Price Trace It Will Fall to $ 5 K
      • BTC Price Today April 4
      • Best Fintech Companies to Work for 2020
    • Guest Posts
      • Bitcoin Price Jump as Coronavirus Curve Begins to Flatten
        • Bitcoin Price Today April 3
        • Bitcoin Price Is Sometimes Bullish in Q2
        • Bitcoin Price Tumble Beneath $ 6,000
        • BTC Price Today 5 | April, 2020
        • Bitcoin Price and S&P 500 – Here’s how much bitcoin beat the Dow and S&P 500 in the first quarter
          • Today Bitcoin Price at $6,600
            • Bitcoin Price Bulls Reaches: “Live or Die”
            • BTC Price Today | 6 April 2020
  • Lifestyle
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      • Best Luxury SUVs for 2020
      • Porsche
      • Luxury Yatchs
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        • Direct Payments in coronavirus
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      • iPhone 12
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    • Banks “Best of…”
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      • Best Bank for FHA Loan of 2020
      • Best Bank Interest Rates March 2020
      • Best Bank Promotions and Bonuses 2020
      • Best Online Checking Accounts of 2020
      • Best Money Market Accounts of 2020
      • Best CD Rates of 2020
      • Best Online Savings Accounts of February 2020
      • Best KYC Solutions 2020
      • 7 Best Mobile Banking App 2020
    • Banks Guides
      • KYC Verification: How it is Done?
      • Personal Finances in Coronavirus
      • 6% cd rates – They Exists ?
    • Transfer Money Online
      • Send Money Online
      • Best App To Send Money Online
    • Mobile Banking
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      • JPMorgan Chase
      • Capital One
      • Royal Bank of Canada
      • Royal Dutch Shell
      • Chase Online
      • Western Union
  • Credit Cards
    • Credit Cards “Best of…”
      • Capital One Credit Card – Best Cards of 2020
      • Best Credit Cards for Students 2020
      • Best Airline Credit Card 2020
      • Best Gas Rewards Credit Cards of 2020
      • Best hotel credit cards for 2020
      • Best Cash Back Credit Cards 2020
      • Best Travel Credit Card 2020
      • Best No Annual Fee Credit Cards 2020
      • Best Secured Credit Cards 2020
      • Best Credit Cards for Bad Credit 2020
      • Best Rewards Credit Card 2020
      • Best 0% APR Credit Cards of February 2020
      • The Best Credit Card for Balance Transfers 2020
      • Best Buy Credit Card 2020
      • Best Credit Cards of July 2020
      • 11 Best Prepaid Debit Cards of 2020
      • Best Business Credit Cards 2020
    • Cards
      • American Express
      • Get Revolut Card + £50
      • Qantas Credit Card
      • Chase Credit Card
      • Coles Mastercard
      • Capital One
      • Lowe’s
        • Lowe’s Credit Card
      • Home Depot Credit Card
    • Credit Cards Guides
      • How many credit cards should I have?
      • Is Discover Visa or Mastercard?
    • Credit Cards Reviews
      • First Premier Credit Card Review
      • Fortiva Credit Card Review
      • Indigo Credit Card Review
      • Wells Fargo Propel – Review
      • Walmart Money Card – Review
      • Credit One Credit Card Review
      • Discover it® Cash Back – Review
      • Travel credit card reviews 2020
      • Petal Credit Card Review
      • Apple Credit Card Review
      • Capital One Venture Rewards Credit Card Review
      • Amazon Credit Card Review
  • Politics
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    • Politicians
      • Joe Biden
      • Ursula von der Leyen
      • Scott Morrison
      • Boris Johnson
      • Angela Merkel
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  • Mortgages
    • Mortgage “Best of…”
      • Best Mortgage for Low Down Payment 2020
      • Best Mortgage Rates
      • Best VA Mortgage Lenders of 2020
      • Greatest On-line Mortgage Lenders
      • The Best Mortgage Lenders for First Time Home Buyers
    • Mortgage Calculators
      • Mortgage calculator rates today April 1, 2020
      • Mortgage Calculator – Students Benefits
      • Mortgage Calculator – Homeowners and renters Get Payment Relief
      • Calculator for mortgage to millennials
      • Mortgage Calculator Modification – What Is?
      • Mortgage Calculator Canada: Rates Are Rising
      • Mortgage Calculator Home – Is it time to repair your own home mortgage?
      • Mortgage Calculator
      • Mortgage Calculator Rates Today April 3
      • Mortgage Calculator Online
      • Mortgage Calculator Coronavirus: UK mortgage market goes into lockdown
    • Mortgage Guides
      • Lending
      • How Mortgage Forbearance Works Under CARES Act
      • Stimulus Check
    • Mortgage Companies
      • Nationstar Mortgage
      • Roundpoint Mortgage
      • Midland Mortgage
      • Simple Mortgage Calculator
      • Freedom Mortgage
      • SunTrust Mortgage
  • Commodities
    • Energy
      • WTI Oil Prices
      • Brent Crude
      • Crude Oil
    • Agricultural Products
      • Corns
    • Livestock & Meat
      • Lean Hogs
    • Precious Metals
      • Platinum
      • Gold
        • Best Place to Buy Gold
        • Price of Gold
        • 5 Ways In order to Buy Gold
        • Gold Price Chart
        • Gold Futures
      • Silver
    • Industrial Metals
      • Copper
  • Insurtech
    • Insurtech “Best of…”
      • Best Life Insurance of 2020
      • The Best Renters Insurance Companies 2020
      • Best Pet Insurance Providers of 2020
      • Best Home Insurance Companies for 2020
      • Best Car Insurance Quotes Online
      • Best Homeowners Insurance Companies of 2020
    • Insurtech Guides
      • Insurance will not cover coronavirus losses
  • Loans
    • Loans Guides
      • First time loan with no credit
      • Emergency personal loans for veterans
      • Fafsa deadline
      • Cash Loans
      • Bad Credit Loans
      • Bad Credit Loans Guaranteed Approval
      • Merrill Lynch Benefits
      • Loans CLO Pain Just Starting With Leveraged loan Rating Cuts
      • Can you get a loan without a bank account?
    • Loans “Best of….”
      • Best place to get an auto loan
      • Best Loan for Students – The Best Private Student Loans of 2020
      • Best Student Loan Refinance of 2020
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AgweekTV Full Show: Ag aid, Cabinet picks, market outlook, cheese plant, sugarbeet vodka

James Albert by James Albert
January 2, 2021
in Market Analysis
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Home » AgweekTV Full Show: Ag aid, Cabinet picks, market outlook, cheese plant, sugarbeet vodka

WELCOME TO AGWEEK TV AND HAPPY NEW YEAR. I’M MICHELLE ROOK. CONGRESS PASSED A $900 BILLION COVID RELIEF PACKAGE BEFORE THE HOLIDAYS, WHICH INCLUDES $13 BILLION FOR AGRICULTURE. IT CONTAINS $3 BILLION OF DIRECT SUPPORT FOR LIVESTOCK, POULTRY AND DAIRY PRODUCERS, AND $5 BILLION FOR ROW CROP FARMERS. THERE’S AN INDEMNITY FOR FARMERS THAT EUTHANIZED LIVESTOCK DUE TO SUPPLY CHAIN DISRUPTIONS, AS WELL AS ETHANOL PRODUCERS HIT BY A DROP IN DEMAND. PLUS, THERE’S FUNDING FOR SMALL MEAT PROCESSORS TO ATTAIN FEDERAL INSPECTION DUE TO INCREASED DEMAND.

PRESIDENT-ELECT JOE BIDEN CONTINUES TO ASSEMBLE HIS LEADERSHIP TEAM AND HAS PICKED AN EXPERIENCED BUT NOT WIDELY KNOWN STATE REGULATOR TO BE EPA ADMINISTRATOR. MICHAEL REGAN HEADS NORTH CAROLINA’S DEPARTMENT OF ENVIRONMENTAL QUALITY AND MADE A NAME FOR HIMSELF BY PURSUING CLEANUPS OF INDUSTRIAL TOXINS. HE’S DESCRIBED AS FAIR AND SOMEONE WHO MAKES SCIENCE (BA)SED POLICY DECISIONS. WITH A FOCUS ON REDUCING GREENHOUSE-GAS EMISSIONS, REGAN WILL PLAY A KEY ROLE IN DETERMINING THE FUTURE OF BIOFUELS. Tim Ostrem: We don’t know for sure where he’s going to stand but hopefully they’ll take a look at all the advantages of renewable energy and the use of them. BIDEN HAS ALSO SELECTED NEW MEXICO REPRESENTATIVE DEB H(AAL)AND AS INTERIOR SECRETARY AND SAYS SHE ROUNDS OUT AN EXPERIENCED TEAM READY TO TACKLE CLIMATE CHANGE.

SIGNUP FOR THE GENERAL CONSERVATION RESERVE PROGRAM BEGINS JANUARY 4TH AND WILL LAST ABOUT SIX WEEKS. USDA WILL RELEASE THE DETAILS ON CRP RENTAL RATES SOON AND THERE IS ROOM FOR PRODUCERS INTERESTED IN ENROLLING. Bill Northey: We have quite a few acres coming out this next year as well. Not as many as we had last year but quite a few so there is room and we’re well below the cap as well. NORTHEY SAYS THE CAP IS 27 MILLION ACRES, BUT THERE MAY BE FEWER FARMERS INTERESTED IN CRP IN 2021 WITH HIGHER GRAIN PRICES. 2020 HAS BEEN A ROLLER COASTER FOR THE GRAIN MARKETS STARTING AS A PANDEMIC INDUCED BEAR MARKET AND THEN TURNING INTO A DEMAND LED BULL MARKET, ESPECIALLY SOYBEANS. SO WHAT’S AHEAD FOR 2021? DUWAYNE BOSSE AND JIM MCCORMICK JOINED ME WITH THE OUTLOOK, STARTING OFF WITH HOW MUCH USDA NEEDS TO ADJUST SOYBEAN EXPORTS, CRUSH AND ENDING STOCKS IN THE JANUARY REPORT. DuWayne Bosse: Well, right now I guess you’d have to say demand is showing that we have to raise exports 75 million I would say, and crush I’d say ten to fifteen.

JIM, ARE WE GOING TO RUN OUT OF BEANS? Jim McCormick: WE’RE NOT GOING TO RUN OUT OF BEANS, BUT IT’S GOING TO MAKE IT VERY, VERY TIGHT. I 100 PERCENT AGREE WITH DUWAYNE. YOU’RE GOING TO SEE THE CARRYOUT DROP, I THINK, BE(LOW) 100 MILLION WHEN IT’S ALL SAID AND DONE. WILL THEY DO IT ALL IN JANUARY? PRO(BA)BLY NOT. I FULLY BELIEVE WE’LL BE IMPORTING BEANS. IT’S INTERESTING, WE SOLD SOME BEANS TO BRAZIL. I WOULD GUESS WHEN IT’S ALL SAID AND DONE WE’LL BE IMPORTING SOME BEANS LATE SUMMER TO TRY TO BRIDGE THIS GAP BECAUSE PLAIN AND SIMPLE THERE’S JUST NOT ENOUGH BEANS IN THE WORLD TO MEET THIS CHINESE DEMAND AT THE MOMENT. AND I BELIEVE THAT MEANS THE MARKET IS GOING HIGHER, BECAUSE WE’VE GOT TO KNOCK SOME OF THIS DEMAND OUT OF THE MARKET, AND ESSENTIALLY RATION DEMAND. SO THE UNKNOWNS THAT WE HAVE GUYS ARE FIRST OF ALL, HOW MUCH MORE WILL CHINA BUY, ESPECIALLY IN THE FEBRUARY TIME PERIOD, AND DUWAYNE THE OTHER UNKNOWN IS SOUTH AMERICAN WEATHER. WHAT HAPPENS WITH THE CROP THERE, RIGHT? DuWayne Bosse: YEAH, ABSOLUTELY. I MEAN, I THINK WE ALL KNOW THEY’VE BEEN JUST DRY ENOUGH WE CAN START PRO(BA)BLY START TRIMMING OFF THOSE RECORD HIGH NUMBERS WE WERE PROJECTING EARLIER IN THE YEAR. BUT THEY ARE GETTING, YOU KNOW, SCATTERED RAINS EVERY ONCE IN A WHILE SO I DON’T THINK IT’S A DISASTER, BUT WE CAN’T AFFORD A DISASTER RIGHT NOW MICHELLE. AND HONESTLY IF IT WAS THIS BIG HIGH RECORD NUMBER OUT OF BRAZIL LIKE OUR EARLY ESTIMATES, I WOULDN’T BE THAT WORRIED ABOUT IT, AND I DON’T THINK THE SOYBEAN MARKET SHOULD EITHER. IN FACT, LIKE JIM’S POINTING OUT, WE NEED THEM IN A DEMAND DRIVEN MARKET. BUT LET’S TALK ABOUT price TARGETS. WHERE DO YOU THINK WE NEED TO GO TO START RATIONING DEMAND? Jim McCormick: I THINK WE’VE GOT TO GO TO FIFTEEN DOLLAR BEANS WHEN IT’S ALL SAID AND DONE. I THINK AT MINIMUM, WHEN YOU LOOK AT THE STOCKS USE FALLEN WHERE THEY ARE DOWN NEAR THREE PERCENT, HISTORICALLY THAT’S WHAT BROUGHT BEANS (BA)CK UP NEAR FIFTEEN. EXTENUATING THE PROBLEM THE BULLISHNESS, I’M LOOKING AT THE U.S. DOLLAR, IT’S BE(LOW) THE 100 DAY MOVING AVERAGE FOR THE FIRST TIME IN MULTIPLE YEARS. I THINK THAT JUST KIND OF GIVES THAT CURRENCY BREAK TO THOSE IMPORTERS AROUND THE WORLD, SO I THINK 15 IS A MINIMUM TARGET AT THIS POINT IN TIME UNLESS SOMETHING REALLY TRAGIC HAPPENS ON THE DEMAND FRONT THAT I’M NOT EXPECTING. CORN HAS TO CONTINUE TO FOL(LOW) SOYBEANS HERE TO BID FOR ACRES OBVIOUSLY, BUT DOES CORN HAVE ENOUGH OF ITS OWN DEMAND STORY TO KIND OF PUSH THAT MARKET AS WELL? Jim McCormick: WELL A LOT OF IT COULD HAVE BEEN ON CHINA AT THIS POINT IN TIME, YOU KNOW HOW MANY BUSHELS OF CORN IS CHINA TRULY GOING TO NEED? OUR BET GUESSTIMATE AT A MINIMUM THEY BOUGHT AT LEAST NINETEEN MILLION METRIC TONS OF CORN. WE’VE HEARD A LOT OF PRIVATE ESTIMATES SAY THEY’RE GOING TO BUY 25 TO 30 MILLION METRIC TONS OF CORN. SO IF CHINA NEEDS TO BUY LIKE THAT PLAIN AND SIMPLE OUR CARRYOUT IS GOING TO DROP I THINK BE(LOW) ONE FIVE AND THAT WILL KEEP CORN KIND OF IN A RATCHETING MODE. I DO THINK THE BEANS ARE GOING TO BE THE LEADER, AND THEN WE GET INTO NEXT SPRING IT’S REALLY GOING TO BE A (BA)TTLE FOR ACRES. SO THE OTHER SIDE OF THE DEMAND EQUATION, DUWAYNE, IS THE ETHANOL INDUSTRY. (BA)SICALLY, GAS DEMAND IS S(LOW)ING DOWN, WHICH IS GOING TO S(LOW) DOWN ETHANOL PRODUCTION. DOES USDA HAVE TO MAKE ADJUSTMENTS GOING FORWARD ON THAT? DuWayne Bosse: I DON’T THINK RIGHT AWAY HERE IN THIS JANUARY REPORT. WE’RE NOT THAT FAR OFF THE CURRENT PROJECTIONS. YEAH, THE ETHANOL PICTURE ISN’T ROSIE RIGHT NOW, THAT’S KIND OF THE STEPCHILD IN THE SUPPLY AND DEMAND TABLE RIGHT NOW. BUT IT’S NOT, IT’S NOT HORRIBLE. IT’LL BE ALRIGHT. SO JIM IF WE DO GET INTO THE CORN SOYBEAN ACREAGE (BA)TTLE HERE, HOW MUCH HIGHER DO CORN PRICES HAVE TO GO TO GET ENOUGH ACRES? Jim McCormick: HONESTLY MICHELLE THAT’S A HARD, YOU’RE ASKING A REALLY HARD QUESTION BECAUSE IT REALLY DEPENDS ON HOW HIGH BEANS GO, I MEAN IF YOU KEEP, IF YOU GET BEANS INTO THE TEENS, YOU KNOW, I THINK BEANS ARE GOING TO BE ATTRACTIVE TO A LOT OF PRODUCERS. DUWAYE YOUR THOUGHTS, IS THERE A LOT MORE UPSIDE POTENTIAL IN THE CORN MARKET AND CORN PRICES? DuWayne Bosse: YEAH THERE IS AND JIM NAILED IT, BECAUSE OF SHARPLY HIGHER SOYBEAN MARKET CORN WILL FOL(LOW). NOW WHEN IT COMES TO THE CORN MARKET I’M NOT NEARLY AS BULLISH AS I AM SOYBEANS. THE STOCK TO USE RATIO IS TIGHT, BUT IT’S JUST NOT AS TIGHT AS SOYBEANS. I HAD TARGETED IT, ONCE WE GOT UP TO THIS 4.40 IN MARCH CORN, I STARTED SCALE UP SELLING FROM THERE THE OLD CROP. AS FAR AS THE NEW CROP GOES, I’M ANYWHERE FROM THAT SAME 4.20 AREA, WHERE YOU START TO SELL, AND I WOULD SCALE UP SELLING TO THAT 4.75 TO 4.74 AREA AS A PRODUCER, JUST BECAUSE I DON’T THINK RIGHT NOW WE’RE IN A SITUATION WHERE WE’RE GOING TO HAVE TO RATION DEMAND. SO LET’S TALK ABOUT THE WHEAT MARKET. THERE’S NOT MUCH OF A STORY RIGHT NOW, BECAUSE THE NORTHERN HEMISPHERE’S CROP IS PRETTY MUCH IN DORMANCY. SO WHAT DO YOU SEE AHEAD HERE? IS JUST WHEAT A FOL(LOW)ER OF CORN AND SOYBEANS FOR THE NEXT COUPLE OF MONTHS? DuWayne Bosse: I SEE WHEAT AS BEING A FOL(LOW)ER. YOU NAILED IT WITH, ONCE WHEAT GOES INTO DORMANCY IN THE NORTHERN HEMISPHERE, THAT BULLISH STORY KIND OF WENT AWAY THAT RUSSIA HAS GOT A POOR CROP. ANY price TARGETS OR PROJECTIONS FOR WHEAT? Jim McCormick: I think you’ll probably see it maybe go 50 cents higher, maybe a little bit higher. It’s going to struggle like Duwayne said. We’re going to, it’s going to be the lagger throughout the winter. You know, we’re going to follow the beans, and then the corn and the wheat. But I don’t, the spring wheat, you know it’s going to have to battle for acres so I would look for the what market to maybe find a little bit of strength. AHEAD ON AGWEEK TV, A MINNESOTA DISTILLERY IS MAKING VODKA OUT OF A LOCAL CROP. NORMALLY THIS IS A TIME OF YEAR MANY OF US TOAST THE HOLIDAYS WITH FAMILY AND FRIENDS. AND IT’S ALSO THE BIGGEST TIME OF THE YEAR FOR A PREMIUM VODKA MADE FROM LOCAL SUGARBEETS. BUT AS WITH SO MANY THINGS, THE PANDEMIC HAS BET VODKA LOOKING TOWARD THE FUTURE. ROSE DUNN HAS MORE. Ben Brueshoff: FIRST ONE IN MINNESOTA, ONE OF THE VERY, VERY FEW IN THE UNITED STATES. BEN BRUESHOFF THOUGHT HE WAS GOING TO OPEN A CRAFT BREWERY, BUT WHEN HAD AN IDEA TO MAKE VODKA OUT OF SUGARBEETS, HE KNEW HE WAS ONTO SOMETHING. Ben Brueshoff: AT THE TIME SAID, YOU KNOW THE CRAFT BEER INDUSTRY IS REALLY SATURATED. THERE’S A BUNCH OF BREWERIES, DISTILLERIES, VERY VERY FEW, SO WE KIND OF HAD THE LIGHTBULB MOMENT AND SAID LET’S CREATE A, ANOTHER SOCIAL LOCALLY MADE SPIRIT, OR DRINK I SHOULD SAY, AND THAT WAS A SPIRIT, VODKA MADE OUT OF SUGARBEETS. SINCE HE WAS IN THE NATION’S TOP SUGARBEET GROWING AREA, IT MADE SENSE. ORIGINALLY, THEY TRIED TO MAKE BET VODKA FROM RAW SUGARBEETS THAT THEY HAULED DOWN FROM THE RED RIVER VALLEY TO THE TWIN CITIES. BUT IT DIDN’T GO THEY WAY THEY HOPED. Ben Brueshoff: BY THE TIME WE GOT THEM DOWN, THEY HAD ALREADY HALF DECOMPOSED, THEY WERE REALLY DIRTY, WE COULDN’T CLEAN THEM PROPERLY, WE WERE TRYING TO CUT THEM IN HALF WITH, YOU KNOW, A SAW OR AN AXE. IT JUST CREATED SOME REALLY POOR IMPURITIES AND WAS VERY HARD TO DISTILL. SO THEY SWITCHED TO AMERICAN CRYSTAL SUGAR. BRUESHOFF SAYS THE SUGARBEETS GIVE THE VODKA A UNIQUE, SWEET TASTE. Ben Brueshoff:IT DOESN’T SMELL LIKE A STANDARD VODKA THAT HAS THAT, OFTENTIMES THAT KIND OF ABRASIVE QUALITY THAT ALMOST GOES UP THROUGH YOUR NOSE AND KIND OF BURNS A BIT. Mark Nyquist: THE TASTE IS GOOD, IT’S A HIGHER END VODKA. MARK NYQUIST GROWS SUGARBEETS FOR AMERICAN CRYSTAL NEAR MOORHEAD. HE SAYS IT’S EXCITING TO BE PART OF THIS. Mark Nyquist: IT’S GREAT. WE’RE ALWAYS LOOKING TO TAP INTO SOME NICHE MARKETS, AND THAT WOULD BE AN OPPORTUNITY FOR US TO DO THAT. ALTHOUGH THIS IS USUALLY THEIR BIGGEST SALES SEASON, COVID HAS TAKEN A TOLL ON THEIR SALES AND TASTING EVENTS. BUT BRUESHOFF RAISES A TOAST TO THE FUTURE OF BET VODKA. Ben Brueshoff: THIS IS A REALLY SUBTLE VODKA THAT HAS THIS NICE VANILLA PEPPERY FINISH WHEN YOU SIP IT, AND I THINK THAT’S A CREDIT TO THE SUGARBEET, TO THIS LOCAL MINNESOTA CROP THAT WE’RE USING. IN MOORHEAD, THIS IS ROSE DUNN FOR AGWEEK. BET VODKA CAN BE FOUND AT SEVERAL LIQUOR STORES AROUND THE REGION AND ALSO ONLINE. IT RETAILS FOR ABOUT $30. AN ARTISAN CHEESE COMPANY IN SOUTHEAST MINNESOTA IS GROWING. CANNONBELLES CHEESE RECENTLY BROKE GROUND ON ITS OWN CHEESE PLANT IN CANNON FALLS. u0009THE COMPANY IS OWNED BY THREE FRIENDS, WHO STARTED EXPERIMENTING WITH CHEESEMAKING IN THEIR KITCHENS EIGHT YEARS AGO.u0009THEY’VE BEEN MAKING CHEESE AT THE UNIVERSITY OF MINNESOTA ONCE A MONTH, BUT THE QUANTITY IS LIMITED TO ABOUT ONE THOUSAND POUNDS EACH TIME. Jackie Ohmann: AND WE SELL OUT EVERY MONTH, SO WE CAN’T GROW, BECAUSE WE’RE NOT GOING TO GO MARKET TO A STORE AND THEN WE DON’T HAVE THE CHEESE TO SELL THEM. SO WE’RE KIND OF STUCK WITH WHERE WE ARE UNTIL WE GET OUR PLANT BUILT. THEY MAKE FOUR KINDS OF CHEDDAR, A GOUDA, EIGHT FLAVORS OF CHEESE CURDS AND IN 2017, THE CANNON BELLES’ QUESO FRESCO WON FIRST PLACE FROM THE AMERICAN CHEESE SOCIETY, IN THE MEXICAN CHEESE DIVISION. Kathy Hupf: THREE GIRLS FROM MINNESOTA WON THE MEXICAN CHEESE DIVISION. THAT WAS REALLY IMPORTANT ACTUALLY FOR IN OUR BUSINESS. IT GAVE US SOME CREDIBILITY WHEN WE WERE JUST STARTING OUT. IT HELPED US IN OUR MARKETING THEN AND GETTING INTO STORES. THE CANNON BELLES ARE HOPING TO MOVE INTO THEIR NEW PLANT NEXT SUMMER. COMING UP ON AGWEEK TV, WE’LL CONTINUE OUR MARKET DISCUSSIONS, WITH A LOOK AT LIVESTOCK. OUR WEATHER WENT OUT IN 2020 LIKE A LAMB, WHAT’S AHEAD FOR THE NEW YEAR? HERE’S JOHN WITH OUR AGRI-WEATHER OUTLOOK. 2020 WAS A BRUTAL YEAR FOR LIVESTOCK MARKETS HIT BY COVID DEMAND S(LOW)DOWNS AND SUPPLY CHAIN DISRUPTIONS. WHILE THEY’VE RECOVERED OFF THE (LOW)S WHAT’S AHEAD? PAT VON TERSCH TALKS ABOUT THE CATTLE SUPPLY TO START 2021. Pat Von Tersch: WE HAVE FINALLY SORT OF TURNED THE CORNER AS IT RELATES TO NO LONGER EXPANDING THE HERD YEAR OVER YEAR. THE LAST CATTLE ON FEED REPORT HELPED TO SUPPORT THAT THEORY. BUT IN TERMS OF (BA)CKED UP CATTLE I THINK WE GOT OURSELVES AS CURRENT AS WE WANTED TO. DEMAND HAS HELD UP QUITE WELL IN THE BEEF SECTOR SURPRISINGLY ENOUGH. AND WHAT DO YOU SEE GOING AHEAD, ESPECIALLY AS WE START MAYBE GETTING THE VACCINE IN PLACE. HOPEFULLY WE WOULD EXPECT TO SEE SOME BETTER ECONOMIC ACTIVITY AS WE WORK THROUGH 2021. SHOULD BE GOOD FOR FOOD SERVICE TRADE, SHOULD BE GOOD FOR PEAK DEMAND OVERALL. SO WHAT ABOUT PROCESSING DISRUPTIONS? DO WE HAVE IT ALL WORKED OUT? WE STILL HAVE KEEP OUR FINGERS CROSSED BUT I, NO QUESTION THAT WE’RE IN BETTER SHAPE TODAY THAN WE WERE LAST SPRING. SO DO YOU HAVE SOME price PROJECTIONS FOR CATTLE AS WE MOVE MAYBE INTO FIRST OR EVEN SECOND QUARTER? WE STILL TARGET THAT MID 120 AREA OR SO ON APRIL CATTLE AS A POSSIBILITY, WITH THE COMBINATION OF A LITTLE BIT TIGHTER SUPPLIES AS WE GO THROUGH Q ONE AND PRETTY GOOD DEMAND AS WE REBOUND THAT ECONOMIC ACTIVITY IN THE FOOD SERVICE SECTOR. THERE SHOULD BE SOME OPPORTUNITIES FOR A LITTLE BIT BETTER CHANCES THAN WHAT WE’VE GOT RIGHT NOW. SO WHAT ABOUT THE HOG SUPPLY? FOURTH QUARTER OBVIOUSLY THAT’S WHERE THE BIGGEST NUMBERS WERE AS WE MOVE INTO FIRST QUARTER, WHAT DO YOU SEE FOR THE SUPPLY SITUATION? YOU KNOW, WE’VE REALLY BEEN ON A TEN YEAR KICK ON BUILDING THE HOG HERD IN NORTH AMERICA. AND I’M HOPEFUL THAT WE’RE ABLE TO CHANGE THAT TREND AS WE WORK THROUGH AND INTO 2021. LET’S TALK ABOUT THE DEMAND SIDE FIRST ON EXPORTS, BECAUSE IT LOOKS LIKE WE’RE GOING TO HAVE A RECORD YEAR FOR PORK EXPORTS IN PART BECAUSE OF CHINA’S ROBUST DEMAND, BUT THEY’RE REBUILDING THEIR HOG HERD AT A VERY FAST PACE AFTER ASF, SO WHAT IS THAT GOING TO MEAN FOR THE U.S.? VERY AGGRESSIVE REBUILDING OF THE SWINE HERD IN CHINA. THERE’S STILL A LOT OF QUESTION MICHELLE ABOUT HOW SUCCESSFUL THEY’RE GOING TO BE IN REBOUNDING AND BUILDING THEIR SWINE HERD WITHOUT A VACCINE AVAILABLE FOR ASF. AND SO I SUSPECT AS WE GO THROUGH 2021 THERE’S GOING TO BE, IT’S GOING TO BE A LITTLE BIT OF A ROLLER COASTER THERE. SO WHAT IS YOUR price OUTLOOK STARTING OFF 2021? WE CONTINUE TO SEE THIS PREMIUM STRUCTURE WHERE THE (BA)CK MONTHS ARE HIGHER PRICED THAN THE FRONT MONTHS. THE HEDGING OPPORTUNITY FOR 2021 HAS BEEN RUNNING TEN TO TWELVE DOLLARS BETTER THAN WHAT WE’VE EXPERIENCED IN THE STOCK MARKET THIS YEAR, AND FOUR OR FIVE DOLLARS BETTER THAN WHAT WE’VE EXPERIENCED THE THREE YEARS PRIOR TO THIS ONE, AND SO I DO THINK THERE’S SOME OPPORTUNITIES THERE TO TRANSFER RISK. STILL AHEAD, WE’LL REVEAL THE WINNERS OF OUR AGWEEK PHOTO CONTEST. DURING NOVEMBER AND DECEMBER, AGWEEK ASKED READERS AND VIEWERS TO SUBMIT THEIR FAVORITE PHOTOS FOR OUR “BEAUTY OF AGRICULTURE” PHOTO CONTEST. VOTING TOOK PLACE ON FACEBOOK AND INSTAGRAM. 3RD PLACE WENT TO KELLY LAHREN FOR THIS SHOT OF SNOW FALLING ON AN OLD (BA)RN. THE 2ND PLACE WINNER WAS TONY LOOMER OF FERGUS FALLS, MINNESOTA FOR HIS HARVEST SHOT. AND THE WINNER WAS KELSEY WOLF OF BLOOMING PRAIRIE, MINNESOTA FOR THIS SPECTACULAR SHOT OF A RAINBOW CENTERED OVER A HARVESTING COMBINE. THANKS FOR WATCHING THIS WEEK’S EDITION OF AG WEEK TV. REMEMBER, FOR ALL YOUR AG NEWS, GO TO AG WEEK.COM, AND YOU CAN FOL(LOW) US ON FACEBOOK AND TWITTER AS WELL. HAVE YOURSELF A GREAT AND SAFE WEEK.

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James Albert

James Albert

James Albert is a personal-finance analist for FintechZoom and is based in New York.

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January 18, 2021

Bond Turmoil on India’s Cash Drain Reveals Market Fragility

January 18, 2021
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