The USDA Crop Production estimates came in about as expected- however the Supply Demand data that was released in a separate report Thursday morning sparked a rally in soybean futures.

Nationwide, soybean production is forecast at 2.86 billion bushels, up 9 percent from September but down 8 percent from last year. Based on October 1 conditions, yields are expected to average 37.8 bushels per acre, up 2.5 bushels from last month but down 4.1 bushels from last year.

U.S. corn production is forecast at 10.7 billion bushels, down slightly from the September forecast and down 13 percent from 2011. This represents the lowest production in the United States since 2006.

All cotton production is forecast at 17.3 million 480-pound bales, up 1 percent from last month and up 11 percent from last year. (Click here to read more and to access links to the full USDA Crop Production and Supply Demand reports.)

In Oklahoma, most spring planted crops have survived the drought conditions of mid-summer forward and are significantly larger than in 2011. Unlike the smaller corn and soybean crops nationally, Oklahoma farmers are seeing better results in 2012 compared to one year ago. And production prospects improved over the last month for most categories as well.

Production prospects increased for corn, sorghum, all hay, alfalfa hay, all other hay, and soybeans during the past month according the Oklahoma Crop Production report issued by the USDA-NASS Oklahoma Field Office. (Click here for more Oklahoma numbers.)

The National Chicken Council and the National Pork Producers Council delivered comments to the EPA in support of granting waivers from the 2013 Renewable Fuels Standard.

Citing a report prepared by three economists at Purdue University, the NCC said granting a full waiver would drop the price of corn more than $2 per bushel, aiding poultry producers.  The NCC also delivered 10,000 individual comments from the chicken industry.

"Our comments prove in detail that the RFS is causing severe economic harm to the U.S. economy, and the 2013 requirement must be waived in full," said NCC President Mike Brown.  (You can read more from the NCC by clicking here.)

The NPPC said EPA should grant a waiver of the federal requirement for the production of corn ethanol because the mandate, coupled with a summer drought that has reduced yields and pushed up prices of feed grains, is causing severe economic harm to pork producers. (You'll find more from the NPPC and a link to their full comments to the EPA by clicking here.)

Late in the day Thursday- we also got some details of the National Cattlemen's beef Association's comments that were offered to EPA- under the signature of their President JD Alexander of Nebraska. Click here to see our story on their contention a waiver for the next year is badly needed to provide some breathing room for livestock producers.

Corn, Ethanol 

Producers Ask EPA to Ignore Waiver Requests

Corn and ethanol producers squared off against livestock producers, submitting comments to the EPA in opposition to the granting of waivers to the Renewable Fuel Standards.

The National Corn Growers Association expressed strong support for the RFS and noted that granting a waiver at this point would be premature.  NCGA pointed out that, with harvest still underway, a complete count of the 2012 corn crop is unavailable, and that this information is needed for an informed decision by the EPA.  (Click here for more from the NCGA.)

"There is simply no justification for waiving the RFS," stated Tom Buis CEO of Growth Energy. "These waiver requests are riddled with inaccuracies and misinformation and there is no merit to our critics' arguments."  (Click here from more from Tom Buis.)

Renewable Fuels Association President and CEO Bob Dinneen blasted the waiver requests as "procedurally incomplete, legally insufficient, and factually flawed.  Perhaps most outrageous is the fact the petitioners make no mention of the RFS program's inherent flexibilities, and they blatantly ignore the fact that the ethanol industry is responding rationally to current grain market conditions by significantly reducing production." (You'll find more from the RFA by clicking here.)

Exceptionally High Prices are Nice, but Usually Exacerbate Future Lows

In his latest Policy Pennings column, Daryll E. Ray of the Agricultural Policy Analysis Center at the University of Tennessee says be careful what you wish for when it comes to high commodity prices.

The high prices being fetched this year for corn and soybeans this year may turn out to be a mixed blessing for crop farmers.

For those with a crop to sell or adequate insurance, the high prices will virtually guarantee that they make a healthy profit. For those who went light on insurance this year and have little to harvest, the high prices will bring little consolation.

But, we need to remember that the impact of high prices extends well beyond the current year. High prices send a signal to the market that more production is needed in the future. When the high prices are the result of a sizeable shift in demand, then the signal will result in an increase in production needed to meet this new demand level.

You can read more of this story on our webpage by clicking here.

World Ending Stock Projections Send Prices Slightly Higher

In a preview to this weekend's SUNUP program, OSU Small Grains Marketing Specialist Kim Anderson takes a look at the latest World Agricultural Supply and Demand Estimates.

"The numbers the market was watching were the ending stocks. They came in at 654 million bushels. The market was expecting 630, so slightly above that. The five-year average is 708 million bushels. In the report, the USDA raised the feeding of wheat or the wheat used for feed and lowered the exports. In the world, the market was expecting lowered ending stocks. They got that. The world at... 6.35 billion bushels, down 227 million, the average at 6.54 billion bushels. They raised the production estimates for Australia, Russia, European Union, also minor adjustments for Canada, Uruguay and some other minor countries like that."

Anderson also said that corn ending stocks were revised lower and that sent the corn and wheat markets up slightly. He says he expects corn prices to remain strong going forward.

You can hear more from Kim Anderson and see the lineup for this week's SUNUP by clicking here. 

Governor Mary Fallin Kicks off Feeding Oklahoma Food and Fund Drive

Governor Mary Fallin kicked off her third annual Feeding Oklahoma Food and Fund Drive, which begins on Oct. 15, with the goal of raising 1.2 million meals to help feed hungry families, children and seniors this holiday season. The month long food and fund drive will benefit the Regional Food Bank of Oklahoma, the Community Food Bank of Eastern Oklahoma, and their partner agencies across the state.

"Time and again, Oklahomans prove to be the most caring and giving individuals in the nation," Fallin said. "Last year, Oklahomans from all 77 counties came together and donated well over one million meals during the holiday season. This year, we can do even more for the hungry in our state."

Among the locations where you can drop off canned goods and other non perishable foods- your county Oklahoma Farm Bureau office that gives folks in all 77 counties access to this statewide effort.

To read more and to find out where you can make a tax-deductible donation, click here.

 

Lots of Calendar Stuff- Black Jack, In the Field Preview, OCA Fall Gatherings, School Land Lease Auctions and More  

The Blackjack and Guests Female Production Sale is scheduled for tomorrow (Saturday October 13) at Blackjack Farms, Seminole, Oklahoma- the sale starts at 12:30 and will feature cattle from the Blackjack herd, as well as from McFerran Farms, MCS Cattle and Pfeiffer Angus.  Click here for the sale catalog or you can call Keith Grissom for last minute sale info- that number is 405-382-7678.

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Saturday morning during our In the Field video segment- we are excited to introduce you to Marty Jones of Owasso FFA, who is the National Officer candidate representing Oklahoma in about a week in Indianapolis at the 85th Annual Convention of the National FFA. Tune in around 6:40 am to the morning news segment of KWTV News9 in Oklahoma City to see and hear our visit with Marty.

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After taking a couple of weeks breather- the Oklahoma Cattlemen's Association staff is back on the road on Monday- headed for Guymon and their next OCA Fall Gathering- being hosted by the Hitch family. Later in the week- OCA will head to Bristow on October 18th for the final of their Fall Gatherings.  Click here for details on the final couple of stops on their fall meeting circuit.

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The first of the Oklahoma School Land Commission Lease Auctions for 2012 will be held this coming Monday in Beaver County- then Tuesday- they move to Boise City and Guymon.  We have all of the Lease Auction locations listed on our calendar page on OklahomaFarmReport.Com.  Click here for the Monday listing for Beaver, Oklahoma and that will give you links to details of all of the locations as well as a description of every single parcel that will be auctioned for lease this month on a county by county basis.