As expected by the grain trade, USDA on Wednesday lowered corn export demand 75 million bushels (mb) and also bumped up ending stocks for the crop by 75 mb as well.

USDA trimmed soybean ending stocks to 210 mb, 15 mb from last month’s estimate. USDA lowered its crush estimate by 10 mb but raised its export estimate 25 MB.

USDA on Wednesday released its March Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports.

WHEAT

USDA estimates for U.S. 2022-23 wheat ending stocks were left unchanged at 568 mb in March. USDA estimates wheat exports also are unchanged at 775 mb in March.

The average U.S. farmgate price for wheat was pegged at $9.00 in the March report.

USDA estimates world wheat production at 788.94 mmt, an increase from 783.8 mmt in February.

USDA estimates wheat production in Russia at 92.0 mmt, unchanged from February estimates.

Wheat exports from Russia were estimated at 43.5 mmt, also unchanged from February. USDA estimates Ukraine exports at 13.5 mmt. Australian wheat exports were estimated at 28.5 mmt, an increase from 28.0 last month.



USDA’s estimates world ending wheat stocks at 267.2 mmt in March, down from 269.34 mmt in February.



Union Mutual was chartered in 1938 to write property and casualty insurance in the state of Oklahoma. Over the years, Union Mutual has maintained the attitude that started the company and continue to be that company that understands Oklahomans’ insurance needs when they contact any member of the UMIC team.

That’s 83 years of protecting rural Oklahomans, providing town and country, poultry house and legacy rural actual cash value policies.

With over 80 years of experience and 300 agents in all 77 Oklahoma Counties to serve you, it’s time to take a good hard look at Union Mutual Insurance Company.

For the agent nearest you, go to unionmutualic.com or give them a call at 405 286-7703. 

In this episode of Beef Buzz, I am visiting with California cattle producer, Mike Smith, about the conversation on Environmental, Social and Governance. Smith talks about his apprehensions with ESG.

“My opinion is that corporate America, these publicly traded companies have way too much control and way too much power,” Smith said. “Those decisions, whether we are supposed to report greenhouse gas emissions, those are supposed to be hashed out via public debate. We should be talking about them, then if something needs to occur, that needs to be a legislative initiative.”

Smith said he views the ESG conversation as an example of corporate America dictating their power.

“I question the usefulness of the programs,” Smith said. “I get that there is this big hue and cry, we need to reduce our carbon footprint, we need to look at opportunities to be better environmental stewards, but I just question if these types of programs are actually going to work.”

Smith also voiced concerns about who these programs will actually benefit and said he feels like corporate America does not understand beef production.

“From the beef industry standpoint, my concern is they are doing these things without actually interacting with cattle producers,” Smith said.

Brayden Rexford with Frontier FFA Shows Grand Champion Ag Mechanic Project at 2023 OYE

Braden Rexford of Frontier claimed top honors at the 2023 Oklahoma Youth Expo Ag Mechanics contest and he is no stranger to hearing his name called at this contest as he has had one of the best projects of the show all four years.

Rexford’s 51 foot trailer is the best project out of 205 that were exhibited in 2023- and just like the show- his projects have grown and gotten better. In 2020, he had the third best project in the first Ag Mechanics show- in 2021 and 2022 he had brought to Oklahoma City the Reserve Grand Champion exhibit and now in 2023 has the best of the show. He talked with Oklahoma Farm Report’s KC Sheperd after claiming the Grand Championship on Wednesday evening- and you can hear their conversation by clicking on the Blue Button below.

The 205 projects at the 2023 show is a dramatic increase from the 122 projects shown last year and the 2023 exhibitors competed for $20,000 worth of prizes donated by supporters of the show.

The Reserve Grand Champion of the show was shown by a team from Thackerville 4-H and the Bronze Medallion(Third overall) was a project shown by Comanche FFA.

Our coverage of the 2023 Oklahoma Youth Expo is sponsored by Hilliary Communications- who deliver the latest cutting-edge communications services supporting tens of thousands of customers across 22 counties throughout Oklahoma, Texas and Iowa. Click here to learn more about Hilliary Communications.

GOING ON TODAY AT OYE

At 8 AM- the Commercial Gilt show kicks off the livestock shows with Dark Crosses showing.

At 9 AM- the Commercial Heifer show will be held.

The complete calendar is available here.

Farm Credit Associations of Oklahoma is pleased to award five junior and senior students enrolled in Oklahoma State University’s (OSU) Ferguson College of Agriculture with $1,000 scholarships. The 2023 recipients of the Farm Credit Associations of Oklahoma Scholarship are: Victoria Gerken, Kingfisher, Okla.; Caden Church, Sentinel, Okla.;

Braden Heisler, Waukomis; Kallie Clifton, Soper, Okla.; and Tony (Anthony) Caruso, Benicia, CA.

“On behalf of the Farm Credit Associations of Oklahoma, congratulations to these five outstanding students. When it comes to supporting young people involved in agriculture, Farm Credit is all in,” said Chancey Hanson, Marketing Specialist for Farm Credit of Western Oklahoma. “The students were selected based upon their application and a short essay. We are so happy to play a small role in futures of these bright and impressive young adults.”

Oil & Gas 12-Month Collections Reach New High

Boosted by record receipts from oil and gas production, Gross Receipts to the Treasury in February show the state’s economy continues to expand despite ongoing inflationary pressure, State Treasurer Todd Russ announced today.

Collections for the past year are $17.62 billion, up by 12.9 percent, compared to the 12-month collection total in February 2022 of $15.61 billion. For the first time in any 12-month period, oil and gas gross production taxes topped $2 billion.

February receipts of $1.21 billion are up by 13.4 percent from the same month of last year. The monthly sales and use tax revenues of $528.3 million are the highest February on record.

“While inflation remains a major concern, Oklahoma’s economy is benefitting from strong energy prices and low unemployment,” Treasurer Russ said. “In addition, economic activity in the state continues to be robust as reflected in sales and use tax receipts.”

Other indicators

As measured by the Consumer Price Index, the U.S. Bureau of Labor Statistics (BLS) reports the annual inflation rate at 6.4 percent in January. The energy component of the index increased 8.7 percent over the last year, and the food index remained at 10.1 percent.

Wildlife Commission Updated on Feral Swine Pilot Project

During a regular meeting March 6, the Oklahoma Wildlife Conservation Commission received an update on federal and state efforts to control feral swine across the state.

Scott Alls, Oklahoma state director of Wildlife Services for the U.S. Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS), told Commissioners that any thought of eradicating feral swine in Oklahoma is probably unrealistic.

A pilot project to remove feral swine using Farm Bill funding started in 2019 in Greer, Harmon, Jackson, Tillman, and Kay counties. Osage, Pawnee, Roger Mills, and Beckham counties have been added to the project area. Alls said APHIS uses five helicopters in aerial shooting and has about 100 remotely activated traps being used on about 1.2 million acres under agreement.

To facilitate the pilot project’s research, the Oklahoma Department of Wildlife Conservation closed hog shooting year-round on Hackberry Flat, Kaw, Sandy Sanders and Waurika wildlife management areas.

Since 2019, the project has removed about 11,000 feral swine, averting an estimated $4.3 million in agricultural damage. Alls said the prime obstacle in swine removal has been many landowners refusing to participate, as they are using feral hogs to sell hunting leases.

Alls said this pilot project along with other statewide efforts to remove feral swine produce much greater benefits than what could be gained from hunting

Hundreds of Groups, Companies, and Non-Profits Ask Ag Committee Leaders to Protect Clean Energy Funding in Farm Bill Negotiations

Today, on the inaugural National Biobased Products Day, the Agriculture Energy Coalition released a letter to Senate and House Agriculture Committee leaders signed by a diverse range of nearly 300 industry groups and companies. The letter urges Congress to preserve funding for farm bill energy title programs provided in last year’s Inflation Reduction Act. It also asks Congress to codify in farm bill language the improvements and policy changes to existing USDA Rural Development programs that were adopted in the IRA act.

“USDA’s energy, bioeconomy and RD programs enable producers and businesses alike to make essential investments in energy and rural resilience, saving consumers and producers on energy costs,” the groups write. “The 2022 funding for USDA’s unique energy programs will help rural communities get ahead diversifying energy resources while improving energy security, the environment and public health."

“At a crucial time when energy costs are driving inflation and impacting the pocketbooks of all Americans, Congress should maintain bipartisan support for rural businesses and communities to make cleaner energy more accessible and affordable,” said Lloyd Ritter, Ag Energy Coalition Executive Director. “The incentives and improvements to energy programs passed in the Inflation Reduction Act last year should be codified to further help residents in rural and disadvantaged communities breathe cleaner air and access affordable, clean energy.”