Friday August 11 8:51 AM ET Record Corn, Soya Crops, Prices Stay Low

By Charles Abbott

WASHINGTON (Reuters) - U.S. farmers will harvest their biggest corn and soybean crops ever, the government said Friday in its first estimate of the fall harvest -- an astounding 10.369 billion bushels of corn and 2.989 billion bushels of soybeans.

The mammoth outpouring -- vastly larger than 1999's crops -- would be accompanied by the second-largest cotton crop on record, 19.2 million bales weighing 480 lbs. each, and a moderate 2.26 billion bushels of wheat, the Agriculture Department said.

Huge crops would mean a fourth year in a row of low grain and soybean prices.

``There's no floor on how low it can go,'' said private consultant John Schnittker.

Analyst Greg Doud of the consulting firm World Perspectives pointed to the possibility that hot, dry August weather might reduce crop size somewhat, especially soybeans in a critical reproductive stage, but large crops seemed certain.

``It's sure been the case this week that nobody wanted to stick their toe in the water (to test prices),'' Doud said. ``The theme for this year is going to be a big crop with big demand. That is plainly clear.''

Based on surveys of 22,000 farmers, field inspections and conditions at the start of August, USDA estimates the corn crop would be 932 million bushels larger than last year. Soybeans and cotton would be 13 percent larger than a year ago.

Corn prices, estimated at $1.65 a bushel at the farm gate, would be the lowest in 28 years and soybeans, pegged at a season-average $4.35 a bushel, would be lowest in 29 years.

Harvesting was expected to begin in a few weeks so there still was a chance that bad weather could pare output or for timely rain and sunshine to give crops a beneficial nudge.

A dry spring allowed farmers to complete planting earlier than usual, so the major crops are closer to maturity than usual. Drought has forced abandonment of some cotton land in the South and Southwest.

Kevin Green, a central Illinois farmer visiting Washington, said corn was selling for $1.40 a bushel in his area.

``At this point, it doesn't make any difference,'' he said, that USDA's estimates were well above traders' expectations.

Congress has enacted more than $22 billion in special help to growers since late 1998, when grain prices collapsed under the weight of a global glut and economic turmoil in East Asia.

Agriculture Secretary Dan Glickman has said more help probably will be needed next year.

Soybean growers scheduled a news conference for Monday to argue for the government to buy $1 billion in surplus soybeans to bolster prices. The soybeans would be used as food aid.

According to USDA, the 10.4 billion-bushel corn crop would be driven by a record yield of 141.9 bushels an acre. Soybean yields of 40.7 bushels an acre would be second-highest ever.

Gargantuan crops would enlarge U.S. farm surpluses. Some 2.3 billion bushels of corn were forecast to be on hand when 2001 crops are ready for harvest, compared to 1.8 billion this fall. The soybean surplus, now 280 million bushels, would leap to 465 million bushels but wheat would increase only slightly, to 962 million bushels

-- cpr (buytexas@swbell.net), August 11, 2000

Answers

Yep! That's sure OK with me cpr. Now I can get a cheaper price on food stuffs.

But all kidding aside cpr. I have a friend in Israel; and he's telling me that they (and we) are real close to it! Over there.

I ask them why didn't they come for a visit untill things blew over. And he said (and he is in a position to know). If war does come this time. Every one would be affected.

"As for me....I shall finish the Game"!

~~~~~~~~~~~~~~~~~~~~~~~~~Shakey~~~~~~~~~~~~~~~~~

-- Shakey (in_a_bunker@forty.feet), August 11, 2000.

Shakey;

I see Saddam is rattling his saber at the Kuwaitis again. Does your Israeli pal think that's the real deal or another "head fake"?

Arafat says his friends are declaring Palestinian statehood on Sept 13. Is this a trigger date?

Does your Israeli friend think the big play is coming before or after USA elections?

-- Not Whistlin' Dixie (not_whistlin_dixie@yahoo.com), August 11, 2000.

The Middle East Peace Talks By Bill Koenig

On the Israel peace front, now is the time for the parties to agree to a United States-brokered Middle East peace covenant or lose a very good chance of producing something in the near term.

This is the time and opportunity for both the Israelis and Palestinians. Their negotiations are coming down to the status of Jerusalem, but they may never agree to a deal. According to Scripture, the Battle of Armageddon is the battle over Jerusalem when half of the city is captured before Jesus Christ intervenes at His Second Coming as He descends upon the Mount of Olives to destroy the armies of the world that have come against Jerusalem. (Please refer to Zechariah 14:1-5.)

The Palestinians want total control and sovereignty over East Jerusalem. They want it as their capital for their new state, and they plan to declare statehood on September 13 if an agreement has not been signed with Israel. The Israelis say the Palestinians can have authority over East Jerusalem but not sovereignty.

The negotiations between Israel and the Syrians have come down to a few meters of land on the eastern (Golan Heights) shoreline of the Sea of Galilee. Many say the main key to Middle East peace is the return of the Golan Heights to the Syrians. Also, some scholars believe the Daniel 9:27 end-time covenant will be between Israel and Syria.

If Israel agrees to giving up the land, the covenant details could be worked out within 30 days, according to those close to the talks. Syrian President Bashar el-Assad said this week that he is ready when Israel is ready. So, are we close to a Daniel 9:27 covenant between Israel and Syria? We shall soon see.

Neither George W. Bush nor Al Gore will likely be motivated to work on peace in the Middle East in the near term, because of the presidential race, and maybe never with the volatility of the remaining issues. President Bill Clinton hopes his peace efforts will give him a lasting positive legacy, and that is what motivates him.

Meanwhile, Bush said that, if elected, he will order the move of the U.S. Embassy to Jerusalem on the day of his inauguration; and shortly thereafter, Clinton announced that he may move it to Jerusalem before his term ends. This has caused the Hizbullah to threaten the U.S., angered the Arabs (including Jordan) and has motivated Palestinian Authority President Yasser Arafat to once again declare statehood on September 13, overriding his decision last week to postpone it.

In addition, Hillary Clintons run for the U.S. Senate, with polls showing her being behind her opponent, Rep. Rick Lazio, and in need of the Jewish vote in New York, has caused both her and her husband to come out against Arafat and his hard stance. She said Arafats lack of compromise at Camp David caused the summit to fail. And she backed Bill by saying that the U.S. Embassy could be moved to Jerusalem soon.

Clinton has begun publicly to side with Israeli Prime Minister Ehud Barak and has chastised Arafats bargaining style. Barak says he cant give anymore due to concerns over his well-being and the factions in Israel. Arafat says he cant either due to his personal security concerns from hard liners. Arafat has been called a hero for his tough stand with Israel.

Now is the time for the Syrians and the Palestinians to cooperate, or they will likely have to deal with the Israeli right wing in the near future. In a recent poll, former Prime Minister Benjamin Netanyahu beat Barak.

With the surprise election of his Likud partys Moshe Katsav as President of Israel, defeating Baraks favorite Shimon Peres, and the loss of the Labor Partys coalition in the Knesset, the momentum has shifted indeed. The Knesset is on a 90-day recess, and Barak will be busy attempting to forge a new coalition amongst Knesset members during the break.

Times appear to be rapidly becoming more intense in the Middle East: Saddam Hussein is reported to be very ill with cancer. Bin Laden is close to capture and is on the run. Libya is buying new missiles from China. Iran has successfully tested its new 1300-kilometer (850-mile) range missile. Janes Defense Weekly thinks Iran now has weapons of mass destruction. Syria has new long-range scud missiles that can hit anywhere in Israel. Iraq has threatened to use biological weapons on Israel. China has met with the top military people in Syria, Iran, Iraq and Libya within the past seven months. Israel has two nuclear subs with cruise missiles, one in the Mediterranean capable of hitting Syria and one near the Persian Gulf capable of hitting Iraq or Iran.

Is the Daniel 9:27 Covenant Near? For the die-hard watchers, if the Daniel 9:27 covenant isnt signed within the next 90 to 120 days, it could likely be a while. But the renewal of meetings between the Syrians and the Israelis could very well produce the Daniel 9:27 covenant.

There has never been a better time for peace in Israel. However, should the Palestinians and Syrians miss this opportunity, it could be a long time before they have another chance. War is likely if an agreement is not reached. If there is war, it wont last long with Israels fire power. Also, there will likely be terrorism attempts or some possible missile launches to which Israel will aggressively respond. Clintons time is running out too, and he will be motivated in the next 90 days or so to get a deal done or else the opportunity will be lost and passed on to future administrations.

Key dates to watch in the next two months:

September 13  The 7-year anniversary of the Oslo Accords. On that day, the Israeli and Palestinian talks are to be completed, and if not completed, Arafat says he will declare Palestinian statehood.

September 29-30  The two-day Rosh Hashanna celebration (also known as the Feast of Trumpets). Some people believe this Jewish feast could be the first day of the Biblical seventh millennium, with all that implies. Some believe the actual date for this years Rosh Hashanna is in the latter part of October.

Koenig's International News - Bill Koenig - http://watch.org/ Post Office Box 671127, Dallas, TX 75367 ==========================

Mar.

-- Not now, not like this (AgentSmith0110@aol.com), August 11, 2000.

I don't like corn and soybeans. I've got dehydrated prime rib and lobster tail. I'll be eating like a king while you eat your grits.

-- (you.are@most.dumb), August 11, 2000.

I BELIEVE=GOD WILL KEEP HIS=WORD[PROPHECY]-SOME TAKE HIS PATIENCE & LONGSUFFERING=AS WEAKNESS!!--WHEN THEY CRY=PEACE & SAFETY=THEN=SUDDEN- DESTRUCTION!!OH IT,LL NEVER HAPPEN 'SAY MANY--IT WILL HAPPEN=IN THE BLINK OF AN EYE!!---THE ANCIENT-ROMANS THOUGHT THEY WE,RE INVINCIBLE!! ''THE CUP IS ALMOST=FULL''--1 MANS PERSPECTIVE!!FREE-SPEACH!!

-- al-d. (dogs@zianet.com), August 11, 2000.

Dear NWD..

Cbn has confirmed (what I was told last week). That the Palistians have at least 50 BMW-50 (russian). And have attained many laarge tractor / trailor (low boy trailors) (designed to haul main battle tanks).

All adult Israeli citizens (civilans) have been issued battle rifles and at least one hundred rounds of ammuition.

At least four of the closest (to the Palistians) israeli setle ments have asked for and received "Heavy machine guns". And theyhave received directions to use them for their defence (with extreem pregidece(sp).

With the head Rabi's declaration that some par of Solomon's temple be errected along side of the Dome of the Rock Mosque; things are becoming heated to the boiling point. Especially since an israeli, who kneeled to pray in the court yard of the Dome of the Rock was beaten senciless by the arab guard assigned to guard the Mosque.

All this news can be found throuh out various URLs on the web also...

"As for me...I shall finish the Game"!

~~~~~~~~~~~~~~~~~~~~~~Shakey~~~~~~~~~~~~~~~~

-- Shakey (in_a_Bunker@forty.feet), August 11, 2000.

Shakey's takey. Last week power companies, week before oil, week before natural gas.

This week: World Affairs. Doesn't matter. His method is what counts:"I have **a friend** who tells me".

YUP, with such impeccabile methodology YOU TOO CAN BE AN "EXPERT".

-- cpr (buytexas@swbell.net), August 11, 2000.

Hopefully, this will work it's way into decreasing the cost of a Porterhouse sooner or later.

Anticipating regards,

Frank

-- Someone (ChimingIn@twocents.cam), August 11, 2000.

cpr...Some times one wonders if all this crap you put on the forum is truely YOU! Or is it your way of just being able to "act up" like a child again.

In no way was I in a Doomer mode...Just trying to say that as one humnan being to another; I was concerned for you (Big D and Arlington are at the top of the hit list you know).

I am glad that I am not so insecure or as afaird as you evidently are sir. Life must truely be a night mare for you.

How ever, should it come, and it will some day. I will still say a prayer for those who I have been in contact with (even those persons who where too scared to allow themselves to be liked by any one)..

"As for me...I shall finish the Game"!

~~~~~~~~~~~~~~~~Shakey~~~~~~~~~~~~~~~

-- Shakey (in_a_bunker@forty.feet), August 11, 2000.

All this thanks to biotechnology (geneticly engenered crops made resistant to deseases) and good rains this summer.

One side effect though, is that these "transgenic" corn and soybean, as well as cotton, cross-pollinate with small farmer's who plant organic crops.

There's a big controversy going on right now about biotech crops. The FDA does not require the labelling of products containing gen-altered foods, and some scientist say geneticly doctored plants could cause problems, such as allergies (a peanut gene in a banana say, for slower ripening) and other problems.

I was just reading an article about this in Time Magazine July 31 issue. Thought I'd mention it, since the bounty we're getting now has potential downsides.

-- (we're@ll.gonna...), August 11, 2000.