~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Tuesday June 8, 2010A service of Johnston Enterprises, P & K Equipment/ P & K Wind Energy and American Farmers & Ranchers Mutual Insurance Company!
-- Oklahoma Wheat Commission Calls Southwest Oklahoma Wheat Harvest "Almost Done"
-- Wheat Harvest in Oklahoma is Now 12% Done- The Latest Oklahoma Crop Weather Update
-- Slow Motion Train Wreck for Wheat Farmers- Selling Your Wheat From the 2010 Harvest
-- Senate Majority Leader Harry Reid Wants Energy Bill
-- Open Interest in KC Wheat Double That of Last Year at Harvest Time
-- Big Iron Auction Happens Tomorrow- June 9th
-- OSU Plant Scientists Have Become Westerman's Warriors - Plus Matt Gard Benefit Happening This Weekend
-- Let's Check the Markets!
Here's your morning farm news headlines from the Director of Farm Programming for the Radio Oklahoma Network, Ron Hays. We are pleased to have American Farmers & Ranchers Mutual Insurance Company as a regular sponsor of our daily update- click here to go to their AFR web site to learn more about their efforts to serve rural America!
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Oklahoma and around the world since 1893. Johnston has opened up four
million bushels of additional storage space for the 2010 wheat crop. For
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Oklahoma Wheat Commission Calls Southwest Oklahoma Wheat Harvest "Almost Done"
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Rains stopped wheat harvest in many areas of Oklahoma on Monday- but the dry hot conditions of last week into this past weekend has allowed southwest Oklahoma wheat producers the chance to cut most of their wheat. According to the Oklahoma Wheat Commission, "The high temperatures over the weekend helped producers get that much closer to being done. This region is 80 to 90 percent done with harvest 2010. Moisture hasn't been an issue for these regions as the humidity and daytime temperatures are perfect for completion of harvest. Test weights are averaging 62 pounds, as per our sources."
In other areas of the state- the OWC tells us: In the Minco area,
"Harvest progressed to 15 percent completion with farmers reporting yields
in the 50 bushels per acre region. The weekend weather conditions were
perfect for producers to really get going and our sources say they are
really going hard today. The pop up showers missed that area of the state
and have allowed for further progression of harvest.
In and near Cherokee in northern Oklahoma- "Harvest started on Friday and Saturday and Sunday represented the first full days of it. Our reports indicated that today there wasn't much going on and the sun hasn't came out so harvest is shut down after the rain. Rainfall totals were approximately 1 inch, with intermittent sprinkles throughout the day. We received two yield reports and they were both in the upper 40 bushels per acre. We also heard that test weights were averaging 63 pounds and one source received a handful of loads ranging in the 65.7 to 65.9 area, or "the highest their system can compute."
Wheat Harvest in Oklahoma is Now 12% Done- The Latest Oklahoma Crop Weather Update
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The latest Crop Weather Update for the state of Oklahoma talks of the hot weather conditions that were in place this past week. "As the wheat harvest continued across Oklahoma last week, temperatures continued to rise throughout the State. Temperatures exceeded 100 degrees in the West Central, North Central and Southwest Districts with averages in the high 70's and low 80's. The heat was accompanied by minimal rainfall with only the Northeast District receiving more than an inch of rain and five districts averaging less than a quarter inch. Topsoil moisture ratings continued to decline from the week prior, rated mostly in the adequate to short range. Subsoil moisture conditions decreased less but were also mostly rated in the adequate to short range."
"Wheat harvest is off to a good start in most areas of the State and is anticipated to increase significantly in the coming week. Small grain conditions continued to rate mostly in the good to fair range, with 13 percent of wheat, five percent of oats and 15 percent of rye rated excellent. Ninety-two percent of wheat had reached the soft dough stage by week's end, up nine points from the previous week but three points behind normal. Twelve percent of the wheat was harvested by week's end, four points ahead of last year but 11 points behind normal."
For the row crops- "Conditions have been favorable for both fieldwork and growth of row crops with corn, peanuts and cotton all rated mostly in the good to fair range. Corn emerged increased two points from the previous week to reach 89 percent, seven points behind normal. Seedbed preparation for sorghum reached 95 percent complete, eight points ahead of the five-year average. Both sorghum planted and sorghum emerged increased seven points from the week prior to 70 percent and 39 percent, respectively. Soybean seedbed preparation reached 92 percent complete, 10 points ahead of normal. Sixty-eight percent of the soybeans were planted by Sunday, an increase of 14 points, while half of the crop had emerged, 11 points ahead of the five-year average. Peanuts planted reached 95 percent complete while 77 percent of the crop had emerged, both slightly ahead of normal. Cotton planted increased 18 points from the week prior to 82 percent complete, nine points ahead of the five-year average. Cotton emerged increased significantly to 64 percent, eight points ahead of normal."
Slow Motion Train Wreck for Wheat Farmers- Selling Your Wheat From the 2010 Harvest
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~There seems to be a double whammy hitting wheat farmers as we harvest the 2010 winter wheat crop. While we have had consistent reports of excellent test weights and decent yields, some of the early quick checks of protein that we have had to date so a crop that is lacking in protein, significantly below the 12% protein that our export market is demanding. According to Mark Hodges with the group Plains Grains, "the Gulf is not accepting wheat under 12% protein (lack of bids below 12 and lack of export sales), this has put receiving/shipping facilities in the Southern Plains under extreme stress." The uncertainty that this is providing is hitting the prices that local elevators are willing to offer to those that want to sell their wheat over the scales. "Receiving facilities are very uncertain at this point how much they may be discounted for protein in the marketplace and in an effort to protect themselves are discounting protein to the producer (by location and facility- there appears to be no uniform schedule). With the current situation there will be little movement of wheat and not enough space available for storage (if they have to go to ground storage the basis will widen even further). The current word from several receiving facilities as we pull samples is no matter what happens this year they will have protein discount schedules next year."
Some elevators are simply posting a much lower wheat price- according to the Oklahoma Department of Ag listing of daily wheat prices- Frederick now stands at $2.97 a bushel, while much of central Oklahoma is at $3.27 a bushel. The Gulf Bid has dropped more than eighty cents since the first of May, and is over three dollars a bushel less than early June of 2009.
Protein is not the only problem- there are steep discounts facing producers that bring wheat in that has foreign material in it- feral rye, cheat or wild oats for example. Farmers could lose fifteen to twenty percent of the value of the wheat they bring in if weeds are a problem.
Senate Majority Leader Harry Reid Wants Energy Bill
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The Gulf oil breach appears to be adding fuel to the fire quietly burning beneath comprehensive energy and climate change legislation. Senate Majority Leader Harry Reid is asking committee chairmen for ideas that he can pull together into an energy bill. Reid says he plans to meet this week with his chairmen and wants proposals by the Fourth of July break.
In a letter, Reid said, - among the actions I think we need to explore are ensuring the oil companies are held accountable for their actions and the damages caused by their operations. Reid adds, this means Congress - must move much more quickly to help the country kick the oil habit as soon as possible and push harder for the production of affordable alternative fuels and advanced vehicles.
An energy expert and senior fellow at the Center for American Progress Action Fund, says Reid's letter suggests he wants to design a bill that would - include making oil rigs safer, reducing oil use and reducing oil pollution. Daniel Weiss notes - addressing oil pollution includes global warming pollutants produced by burning oil.
Open Interest in KC Wheat Double That of Last Year at Harvest Time
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Open interest in the Kansas City Board of Trade's Hard Red Winter wheat futures contract has set a new all-time record. At the conclusion of Friday's trade, open interest stood at 172,953 contracts. The previous record open interest was at 172,936 contracts, set on July 12, 2006.
The new record represents 864.77 million bushels of wheat compared to the old record of 864.68 million bushels. Open interest has been steadily increasing over the past year and is more than double the amount of a year ago. Last year at this time, open interest was at 75,047 contracts, representing 375.235 million bushels.
KCBT HRW wheat futures open interest has increased to record-high levels due to the largest projected wheat ending stocks numbers in over 20 years and an increase in both intra-market and inter-market spread trade activity, according to KCBT traders.
Volume has been extremely active in the KCBT HRW wheat futures contract
thus far in 2010. At the end of May, year-to-date wheat futures trading
volume was up 25.1 percent compared to 2009 numbers. Open interest
measures the number of open trading positions in a market. Each KCBT wheat
futures contract represents 5,000 bushels of wheat.
Big Iron Auction Happens Tomorrow- June 9th
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The next Big Iron Auction is set for tomorrow- Click here for full details of what all will be sold, starting at 10 AM central time.
Big Iron is an online no reserve auction for farm equipment- and this auction will feature some quality forage handling equipment, semis and even a Cessna Airplane. Call 1-800-937-3558 if you have questions or would be interested in consigning equipment in a future auction.
The next auction could be really interesting, as it will be featuring antique machinery. Already, there is quite a list of items listed for the June 23rd online auction- and I suspect additional items will be listed in the next few days.
OSU Plant Scientists Have Become Westerman's Warriors - Plus Matt Gard Benefit Happening This Weekend
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The Cowboys vs. Cancer Team is comprised of friends and family of Dr. Brent Westerman, Senior Director, Field and Research Service Unit, Division of Agricultural Sciences and Natural Resources at Oklahoma State University. Brent is battling cancer and a group of OSU Plant Scientists have formed Westerman's Warriors and plan to run in the Route 66 Marathon this coming November in Tulsa. Click here for details about how you can make a donation to the American Cancer Society in support of Brent Westerman and the OSU folks who will be running in his name.
Our friend Matt Gard of Fairview continues to recover from a motorcycle accident- and hopes to go to a more advanced rehab center later in the summer and his insurance won't pay for any more rehab. As a result, some of Matt's friends have planned a fundraiser get together this Saturday afternoon- evening where all funds will go towards medical and rehab expenses for his treatment.
Shari Holloway is one of those who are helping put the event together-
and she tells us it will be a great time, with lots of food and
entertainment being planned. It will be held at the PPS Longhern Bldg 3/4
mile west on Junkyard Road North of Fairview, OK.
Our thanks to Midwest Farms Shows, PCOM, P & K Equipment/ P & K Wind Energy, Johnston Enterprises, American Farmers & Ranchers, KIS Futures and Big Iron Online Auctions for their support of our daily Farm News Update. For your convenience, we have our sponsors' websites linked here- just click on their name to jump to their website- check their sites out and let these folks know you appreciate the support of this daily email, as their sponsorship helps us keep this arriving in your inbox on a regular basis- FREE!
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Let's Check the Markets!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~We've had requests to include Canola prices for your convenience here- and we will be doing so on a regular basis. Current cash price for Canola is $7.00 per bushel, delivered to local participating elevators that are working with PCOM.
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