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tv   U.S. Farm Report  ABC  October 29, 2016 5:00am-6:00am CDT

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of farm journal broadcast, this is u.s. farm report.> welcome to u.s. farm report. i'm tyne morgan, and here's what we're working on for you over the next 60 minutes. the countdown is on... just a little over a week away from the presidential showdown. but where does each candidate stand on hot ag issue? that's our farm journal report. soybeans are getting a demand boost, with the november contract shooting through 10 dollars. federal officials are investigating the issue of drift. but one ag group says epa is partially to blame. and in john's world... great crops, graet harvest, not all of us.
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for the news that moved the markets this week, as farmers face a bumper crop, it's not slowing down soybeans, as the november contract broke through 10 dollars this week. the rally driven by a bump in soybean meal prices, as well as short covering. demand has been a bright spot in the soybean market, with this week's export numebrs showing a 2 percent increase over last week, but that's 12 percent above the four-week average. the biggest buyers china, mexico and italy. it's been a slow soybean harvest in central illinois this year, as many farmers are raking in record yields. we stopped by to visit with farm journal field agronomist ken ferrie this week. he told me april planted soybeans are yielding much better than the crop planted in may, as the later planted crop suffocated from sudden death syndrome and emergence issue. but even then, farmers are seeing a lot of 60 bushel plus
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stem. slowing down some of hte combine by 2/5 miles per hour. and can't cut too early or too late because of moistures, natinoally, soybean harvest is right on pace with average as 76 percent of the crop is harvested. farmers in the western corn belt still battling rain.. iowa is trailing the average pace by 9 points. nebraska is 10 points behind. the nation's corn crop is 61 percent harvested. one point behind average. that's a 15 point jump in just a week. cattle prices trending higher since mid october. the momentum supported by usda's latest cattle on feed report, fidning inventory numbers smaller than expected. september placements also down, seeing a 2 percent reduction from last year. our partners at drovers say continued momentum depends on the industry's ability to move the hefty amount of meat in
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o. but it's 11 percent higher than the 5-year average. the latest sterlign profit tracker showing some improvement, but feedyards are still seeing sharp losses. our reporting partners at drovers say at losses of 193 dollars per head, that's a 55 dollar per head improvement from last week. the situation is also a little better than a year ago when feedyarsd faced losses of 257 dollars per head. and pork producers also seeing red. sterling profit tracker showing farrow to finish pork producers lookint at 46 dollar per head losses, a dollar more than last week. syngenta won't be owned by chemchina by the end of the year. the chemchina buyout originally forecast to close by the end of 2016 but now regulators in e- u and other countries are asking for additonal time to get through the regulatory process. syngenta ceo trying to ease concerns that the deal may not happen, saying both companies are fully
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triggered some doubt over the mega merger this week. the dow dupont merger may also be delayed until the new year. bloomberg reporting european antitrust officials are taking more time to consider potential competition issues in pesticides and crop seeds. the european commission this month delaying its decision deadline until february 6th as it seeks additional information about the transaction. those are the headlines...meteorologist mike hoffman joins us now with weather. mike, it looks like many of our viewres are warming up this week. yeah that's right ty.e it's going to be mild for november for many parts of the country will get to that a second in the meantime the only area that we've seen a worse a main area for drought in a widespread area anyway is a southern portions of the mississippi valley you can see we go back a month, that wasn't looking too bad it was just starting to get dry but that area in the southeast is expanded westward into our parts of eastern texas and oklahoma it has got a little better over the last week in new england and
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southern california you can see as we start the week a storm system moving through the upper midwest from our rain across the candian border, snow to the north of that in the central prairies of canada but you can see all the warm dry weather for the ohio valley most of the mississippi valley into the southeastern parts of the country by wednesday then we're looking at a couple storm systems kind of riding along this front which will be some showers from the great lakes back into the high plains and into the southwest so this amount over the last couple weeks in central and southern california and that next system coming into the pacific northwest on wednesday will be over the central part of the country on friday showers and thunderstorms up and down the plain states but warm and drive of the ojai valley in the southeast again yet another system coming into the pacific northwest will check your ninety day outlook writethru january coming up in our next half hour thanks, mike. it was an interesting week in
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and don roose next. and don roose next. n roose next.
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welcome back to u s farm t on the round tables with me this week don rosse of u s commodities and matt bennett have been a consulting firm only switch things up just a little bit and start off with livestock this week cattle prices last couple weeks had some decent some decent trades what supporting prices right now that i think cattle were oversold for the most part i think you know set in place from earlier in the year we said let's go ahead and take profit on these and maybe move these down just a little bit because the bottom line for us is that it looked just like maybe things will get a little bit over done for the time being i do think that there could be more weakness on down the road i think for the time being we overdone enough to where we could see just a little bit of a bounce so matt sees weakness down the road do you think here short term maybe we found a
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good seasonal what low here short term but he still have a law supplies we have to deal with the fourth quarter five percent over year ago also when you get into one o five and one oh 8 on december cattle with supplies of a protein that we have come in as in the fourth quarter those were probably catch up risk management opportunities across the even in the second third quarter so matt heading in a twenty seventeen what concerns you the most with this cattle market i think our numbers are still more than adequate and i think a producer has a stop and think you know what what's the upside in this market you know wherever they look a tie with the cost structures are a lot of guys were telling me that if they protect cattle and this one off four one five area a lot of them can still do ok and several of them been able to buy cattle just a little bit cheaper in the last couple months and maybe what they thought they were going to earlier but we've been very strongly urging them to keep force in this crisis don in this hog market timing were looking at you know not not enough slaughter capacity in some other things pressuring
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ng back to a situation we saw in the nineteen nineties with this with these pork prices is it that bad where you know the good news tyne is i think that we talked that up so aggressively and we've dialed in that bigger slaughter pat pace going down the road you know and really what we need to do is move back from the six to eight percent slaughter that we head down to where the government estimates are two to four percent and i think you have to remember the government in the fourth quarter said that the price was going to be forty eight to fifty dollars and were trying to move back ust got too negative too early and we are finding a dead cat bounce right now but probably has some risk management opportunities as were sitting right here going out the end of the week but we need china we need china to need our pork do you think that that that continues well and that was one of the big stories that we had the middle the summer early summer is at the chinese with an aggressively buy pork and they were they were pretty aggressive but they backed off even this last week they've been very slow on their purchases that doesn't look like they're gonna show up
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exports do have to a pickup if we're going to expect to hold these prices speaking of demand some impressive demand out of that china for soy beans i mean this demand picture seems to just keep getting better and better it is is that what's supporting thes soybean prices as of late i think here lately the world vegetable prices are definitely been a huge catalyst you know whenever you look it is for the u s producer's standpoint the royal actually gained on the dollar a little bit and so you know as far as our beans on the world market they've been quite competitive yes chinese demand is phenomenal i think that this week's export numbers were larger than expected and one thing i think on down the road is if we do have a really large crop and south america i don't want to think that maybe our exports are gonna stay as strong all the way through the years what they did last year so be just a little bit cautious but they've been great to this point that this is the second time this year that a soybean rally is kind of caught us off guard not a lot of people were talking about it and
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yet that and that's a good point i think really what happened is exactly i think what we're doing is adding some risk premium to the market market the trade did get caught off guard with weather problems in south america in march and again we're start some rain issues in argentina just as we're about to start planting soybeans planting corn right now forty percent done so i think we're adding some risk premiume to the market whether we need it or not and depend on the la nina we get into some weather issues down the road but when you're at ten we need some weather problems if we're gonna maintain or move higher from this level so is this the soybean rally is this market today a little top heavy will ask matt that when we come back as well as look at this corn market what's going on with corn right now will do all of that when we come back on u s farm report
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farm report
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welcome back continuing our soybean conversation matt do you think this soybean market maybe
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we know this is a huge soybean crop we we have record yiles and another stop a bushel or to talk and sometimes five ten fifteen a bushel above best yields in a large part of the corn belt and so we had record acreage we got a record yield u s bean crops continue to grow. yes demand is quite strong but have we overdone this in the middle toward the harvest in my opinion i think so. and so i think that we need to be very cautious as to buy into the fact that we're gonna take this thing whole lot further want to be very careful to set floors underneath the market if i haven't done anything yet and not trust tjat this thing is going to get too carried away don before we knew we were going to have bean yields this big i mean we knew they were going to be large but not what we're seeing today we had said you know what we cant afford any hiccups in south america right now whatsoever is that still the case or do we have a little bit more wiggle room considering this barge crop that november 9th we're going to have updated
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million plus so that's a pretty big cushion but the thing we have to remember south america raises about one and a half times of soybeans that we do in the u s so we're not the big elephant in the room any more we can bridge the gap but if south america has some issues it'll show up again it depends on the demand but look at the chinese they buy almost weekly and i think the big issue is they do not want to get caught short beans in case we have a la nina issue in south america and by the way you know the odds are that they could have some northern argentina's i think that's partly what the rally is. partly about everybody trying to get covered here just in case and before an election a price and short covering yeah, last week you know we were talking soyoil was really what had been leading that rally which was which was odd is that still a case there is now as the soybean meal becoming a major major player and then i think towards the end of this past week absolutely soybean meal you saw that kind of reverse itself sais it look
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d so yeah i think that's absolutely what's going on towards the end of the week corn prices whats supporting these prices as of late well the corn market really is caught in a big broad trading range we have a hard time moving out of the range we have in march a corn three forty three seventy weve got big carries in the market we've got adequate supplies were trying to distribute the corn out over time much as we're trying to do in soybeans right now so there's real no shortage of grain its just a matter of despair and atter redistrubiting in overtime so rallied for an end to a lot of resistance but the demand holds us on the downside if usda comes out and knocks this corn yield down a little bit you know because we are hearing some in were still seen good corn yields with some are saying you know i'm a little disappointed so what's a usda does not a little bit of yield off in their upcoming report do you think we'll have a bullish bullish reaction because you know we really can't tell with the market's going to do after usda that's been proven well, if
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that can be quite safe and i did that gives you enough cushion i you know have you look at this corn situation you could probably take a bushel off fairly easily and it's not gonna hurt us in an extreme way but i i'm with you, i'm hearing a lot of producers are saying more so with corn and bean yields are quite as good as what we thought they were going to be outside of say a western and northern illinois. illinois in my opinion hasn't quite what i felt that it was going to be so maybe we'll get back down to two hundred under but bottom line is i think and beans and looking at new crop should some of these producers take advantage of the prices that we're seeing today well when you look at acres next year and soybeans could go up five million u s a ten dollar beings are an opportunity from risk management standpoint in corn if you take a first down train a half million you're still end up with probably a two and half billion carry out next year so you can have large
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around the world in my opinion of you look at these prices you really have to look again cost is well it's always like a profitanility and on corn lot of my producers are saying forty two seventy five dollars an acre less in input costs and whenerver you look at soybeans as don was saying were we were able to lock in place is a board above ten dollars at this point and we could be locked in a significantly higher acreage by all means i think that we need to be protecting these prices. what about corn in the bins i think with one of the bins you've got a keep in mind that you know we had a nice rally and basis you know has actually been fairly good but we stand at almost four carrying the market so a producer who's looking out maybe hege out to the july might not be such a bad thing to do because we get continued basis appreciation there and put that line their pockets as well we've seen some ddgs back up. does that cocnern you well i think it is a concern for the soybean
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having a hard time moving in the world market china's backing away from the ddg market so in almost a flat think it just goes to the heart we just have to big of a supply and the overall food supply all right well we need their closing thoughts we'll get that when we come back on u s farm report that when we come back on u s farm report
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that when we come back on u s farm report welcome back time now for closing thoughts matt bennett let's start with you well this has been a very large crop and a lot of people said what if this is a two thousand fourteen type
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really good rally at this point i want a look at what kind of production have at times what the what the prices are the bottom line is as long as we're making money keeps us in the game things have been pretty scary the last several months. guys have been worried about profitability but i think we can lock in reasonable probability if we protect prices at these levels alright don well, i think when you look at the rally that we just had on soybeans as an overachiever. we've rallied over eighty cents on soybeans since the first beginning of october opportunities for producers to catch up on sales on old crop beans take a look a new crop soybeans and also on corn make sure you get some insurance on out to july, take advanantage of hte carry. because you're you can do much better with profitablity at this level. and scratch our heads because this rally came out of nowhere do that to. stay with us john that
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professionals at bower trading. view the markets lik enever
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in central illinois this week, where farmers are pretty pleased with how this year's crop is turning out. but not all illinois farmers feel the same. here's john phipps. some of you may remember when i talked about a summer storm that pummeled our farm last july. while we knew it had taken a toll on our corn - leaning it over badly - at least we didn't have green snap, like some neighbors suffered. enough corn stayed erect to make it seem it might not be too bad. well, here we are today trying to harvest that corn. we're getting most of it up, but only at a snail's pace. don't get me
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a cake walk. and yes, we had wind insurance that will help mitigate the losses. all across the corn belt there are producers like us that will not be happily surprised by their yields and harvest speed. this is always the case. and we all know we will have our unfortunate turn in the weather lottery sooner or later. but the reminder of misery loving company kind of applies when only a few of us are affected instead of a widespread weather hit such as a drought. this is why it is almost physically painful to drive by a damaged field anywhere. unpleasant memories of our own difficult harvests trigger considerable sympathy for our fellow farmers. maybe you don't make this visceral connection until you have had a tough harvest - i can't remember what it was like
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blessings when we hear or see of such struggles, the only thing that can really offer much relief is to get the field finished. so i hope we will be done with this effort soon, and i am just as anxious for my friends and their problem fields. because the truth is none of us will sleep well until this crop is gone from view. thanks, john. still to come, we're less than two weeks away
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from the studios of farm journal broadcast, this is u.s. farm report. welcome back to u-s farm report. we have much more ahead over the next half hour. it's the great ag debate in washington as the presidential camps go head to head. in customer support, a nice note from a loyal viewer. and it's all about weather when we head out west with baxter black. now for the headlines, federal officials are now getting
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ri. just since june, missouri saw more than 40 thousand acres of soybeans and other crops damaged by what some believe to be spray drift. in total, the missouri department of agriculsture says more than 100 pesticide drift complaints have been filed on several crops such as soybeans, peaches, tomates, peanuts cotton and alfalfa. . state officials pointing to older formulations of dicamba, being sprayed over tolerant soybeans, which are more volatile and prone to drift. but epa has not approved new formulations of dicamba for use over the top. now its sending agents to at least four missouri counties looking for evidence of misuse...as part of a criminal investigation. i spoke with ron moore of hte american soybean association. he's partially blaming epa for not approving the new formulations of dicamba like they said they would. however, asa strongly reminding growers to follow all current label guidelines
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generic, or generic dicamba to xtend soybeans. that will still be off label, so we're telling farmes continue to use the herbcides as they're prescribed on the label, that way you don't have any problems with drift.>> the epa is expected to make a decision this fall about whether to approve dicamba for "over- the-top" application. the issue of drift has become an emotional one, even believed to cause of a shooting in a rural arkansas county sheriff says a 26 year old suspect is in jail after he allegedly shot a man in his mid 50s on country road 38, which is northwest of leavhville. the shefiff says the motive may have been an argumkent over the spraying of agrucltural fields. no names have been released at this point. a former canadian trade minister says the trans pacific partnership doesn't need the u-s. on canada based real ag
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canada should move ahead on ratifying it's part of the eal. ritz says the japanese will have the measure through their upper house by the end of november, while new zealand and australia are also pushing the agreement. so there's no reason canada should wait on the u-s to make a decision t-p-p.
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tyne you're absolutely right for least part of the country including where you live we'll get a latte the second is not a star off mild in the eastern part of the country this week and little ripples coming from the west of the so that means storm systems continue to pelt the west coast and some of those will come an eastward in a weakened form is you can see on wednesday a quick shot of colder air late this week for new england is what our computer model is showing in an otherwise it's starting to turn colder after the first week of november and that's the trend my november rally for chapters of a loan all from the northern lights northward but it's going to start warm so it's going to turn cold at all shy of the warm air down to the southeast below normal for the middle of other so much of the summer anyway or ohio valley northeastern plains great lakes and northeast above normal out west and wait pan at a little bit more northern plains great lakes town of the ohio river below normal above normal for the south and the southwest precipitation in the southern areas probably below
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ral colorado northwestward above normal precipitation time with just a little more than a week until the general election, both sides are pushing hard to pick up votes. a few days ago in washington d.c.surrogates for each presidential candidate were on hand for something we haven't seen much of...a discussion centered squarely on agriculture. clinton griffiths was there and has this week's farm journal report. we're going to dive right in with your permission and nbc's famed onal press club the farm foundation farm journal media bush campaigns from the trail for answers on how a trump or clinton administration might handle agriculture and rural america the next president must fight for diversity in agriculture former deputy secretary of usda kathleen merrigan spoke for misses clinton do they have to comply with the same labor practices that we have to comply with while sam clovis took the stage for donald trump fifteen percent
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small businesses rather than having to pay the personal income tax rate that the that we all pay and we will then be able the get the pass throughs done and will pay it that a rat in a traditional rate of fifteen percent which all corporation will buy so broad bands essential. she is really interested in infrastructure has a big plan for re investing in infrastructure that means rural water that means transportation that means a lot of different things she's really interested get some more capital more equity into rural communities both sides agreeing on the importance of a timely farm bill and keeping the farm and nutrition titl together both winning support about technology and renewable energy she has committed to five hundred million solar panels before her first her and she sees rural america taking the lead there the one thing that does bother me of the ninety one million
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we're producing fourteen point two billion gallons of ethanol a rear regulations however found them sitting apart compliance issues on smaller businesses frankly have raised the cost of operations to the point that a lot of small businesses cannot survive in those circumstances regulations in of themselves are not a bad thing they leveled the playing field they give certainty to business is they give certainty to our farmers rs also what are the topics of immigration and farm labor war make sure that they understand we're not going to cripple our industry simply because we had a change of administration and we wanna make sure that they understand though also that we are going to establish the rule of law and we want their workforce to be legal so will give them time to transition to a legal work force in american agriculture is is really dependent on foreign born labor and we need to figure this
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a hearse hundred daschle put forward a comprehensive plan the campaign has seen plenty of fireworks over trade and so agriculture based on the nature of the products they're involved is not likely to be affected by trade agreements one where the other the real issue that we have to look at is the big picture when it comes to trade and the impact of that trade agreements have on on the country writ large to a trade barrier and on the trans pacific partnership we are going to come back for a lame duck we'll see what happens but this is going to be a conversation that needs to be continued and so we really don't know what's in the trade agreement and in its entirety i think the transparency aspect of this is very important i have always positioned for a negotiated and
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poll of farm country is out from agripulse. it shows, 55 percent of those surveyed say they'll support donald trump. 18 percent favor hillary clinton. 2 percent are backing libertarian candidate gary johnson. that still leaves 15 percent of respondents undecided. and 8 percent refused to answer. of e polled, 18 percent of females say they're still undecided. up next, john phipps
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is talking about you, but kind as that was, i think it is mistakes. when tyne replaced me as host, she also assumed full editorial direction for the show. other than my five minutes or so, it is her journalistic professionalism that makes the show what it is. more importantly, as a journalist rather than a commentator like me, she adheres to a much higher standard of objectivity. tyne builds the stories we air from facts and opinions from experts or farmers themselves - not her own convictions. the polished product that is us farm report will stand up to any criticism of journalistic integrity and fairness. i was proud to be the host for nine years, but thank goodness farm journal found a true professional to take usfr to a much higher level of performance. my fingerprints are
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very best resear and opinions i can muster. if viewers think tyne has made their lives better, as garth remarked, they ought to see what happens to people who work alongside tyne. it's not easy to keep up. john, that was very kind of you, but he's just being humble. he has the hardest job of the show... coming up with fresh commentary each and every week. that's no easy task! but john is what helps make my job so fun up next, baxter black. with market prices constantly changing, its important to know where current prices stand. get market prices delivered to your mobile phone, just text markets 8 to
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welcome back. in our business, a lot of the coffee shop talk is about weather. it's also on teh
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thing that separates farmers from their city brothers is the weather and many times have you heard the local anchorman say gosh kimmy thats a really good news i'm sure getting tired of this rain well on the big city weatherman mans map has a yellow sun with a smiley face that covers the louisiana purchase we realize how far from nature some parts of our civilization have been removed but somewhere out beyond on the cattle guard farmers' standing on the edge of his wheat field watching the rain and smiling farmers and ranchers are students of the sky they spend a lifetime looking for a blue horizon or a black cloud to bringing them luck sometimes badsometimes they win smell the weather changing they aren't looking at it through a
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that's why we don't take it for granted i've been out on j p point one spring after the thaw the water was so thick a fish could walk the road washed out all away but still a struggled ony i just drove my pick up truck from rock to rock. one time up at grass creek it hailed all one day and then ask i swear it settled into snow. we had to dig a tunnel to put cows in a shoot and that today i froze off all my toes. and then down at the bear ranch the fog was so thick we didn't need a fence to hold them in, we gathered up some two by eights mailed into the air and hung the gate securely on the end the clipper flaps a cant remember which the weather turned off mighty cold
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oking for a hole to send someone you hate try the sheep corral the cat creek by the rise the only place i ever stood in mud up to my knees and had the dad gum dust blow in my eyes this is baxter black from out there thanks, baxter. you can hear more of his humor online at baxter black dot com. when we come back, machinery pete has this week's tractor tales. what happens to the presideintial candidates who don't get
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the most trusted name in farm machinery. welcome back to tractor tales folks. we're off to west central iowa this week for a classic orchard. owner will sick travelled from iowa to new mexico to pick up this international o6. he said it was in pretty rough shape when his son-in-law steve found it, so he got right to work on it. today it looks brand new. it was produced mostly for orchard work in their new unique part is the very excess of tin works to keep protect the operator and most work in the orchard was pulling of sprayer in using the trailer and they might have a had a hand boom on for the trees and then this area between the trees for weed control has the extra tin work to keep you from getting slapped in the face repeatedly by tree branches as the same engine as an m farmall and i've
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along with an os6 let me know they were there a year later they were still there so we called on got them purchased than went down with a trailer and got em. when we got these tractorsthey were pretty rough shape not have the side shields were brought in here to my place and then i decided to keep the os6 and he took the o6 home to minnesota and rebuilt it there and i helped him some there but he did most of all we found some red dirt in the air cleaner which the only place i could think of a come from is oklahoma and my son-in-law mentioned it and steve mentioned it might come from southern california will probably just continue to show both of them just get em out on sunday and drive em around now i have herrold with this one on mine a little bit but if nothing not the easiest tractor driver doesn't have any
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friendly church draws quite the crowd every sundy, as it's also the church of president jimmy carter. he teaches sunday school frequently there, attracting people from all over. and president carter has one request-- if you want to attend his sunday school class, you must also attend the church service. it's a packed house when he's there, with even a meet and greet once he's finished spreading the gospel. all are welcome, but it has a limited seating... holding up to 475 people. as always we want to learn about your home church as well... salutes can be sent to the address on the screen. from teh farm photos are next.
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teh farm photos are next.
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welcome back. some of our viewers dodged mother nature this week, but we have some happy farmers, glad to be wrappng up with harvest. nick is
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bittersweet... he hated to see such a good crop come to an end. mike said they also finished up in illinois this week. he's in the east central portion of the state and this is a look at his last 8 rows of harvest 2016. here's a cool slow mo video of harvest just east of findlay, illinois. harvest is going slower htis year, due to the amazing yields and some green stem issues early on. but when you put it in slow mo, harvest just looks so much more dramatic. area farmers told me they've been very fortunate with great yields this year. corn wasn't as good as 2014... but still a very nice crop this year. and zane jones took to the sky to capture their harvest progress. he says they're still a week away from wrapping up in northern missouri. but zane says they're extremely happy with harest his year. yields are much
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could send your photos or videos anything to us our address is on the screen for all of us that u s farm report thank you so much for watching be sure to join us again next week will actually be from kansas city will be doing our entire show from there so we'll see you next weekend until then have a great weekend
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saturday october 29th. starting out with a live look at " you know i think people a long time ago made up their minds about the e-mails. " the debate over hillary clinton's emails isn't over. a new fbi investigation was the focus of two presidential campaign stops in cedar rapids. and donald trump says that investigation in the country since watergate. also protests turned violent again at the bakken oil pipeline construction site in north dakota. you're watching kcrg-tv9. now, from your 24 hour news source, this is the kcrg-tv9 saturday morning news. good morning and thanks for joining us. we begin with first alert storm team meteorologis

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