~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Friday November 28, 2008!A service of Johnston Enterprises, KIS Futures and American Farmers & Ranchers!
-- Short Day for the Ag Futures Markets
-- A Rerun from Wednesday with the correct link- President Elect Obama Cites Abuse in Farm Programs as a Place to Trim the Fat to Pay for His Proposed Jolting of the Economy
-- OSU Oilseed Specialist Dr. Chad Godsey Says Winter Canola Looking Good- and Has Details of Test Plots
-- Kansas Congressman Jerry Moran Wants President Elect Obama to Reverse the Bush Rules on Dealing With Cuba- ASAP.
-- Blowing in the Wind- Our Subject Saturday Morning "In the Field with Ron Hays"
-- Podcast Reminder- Our Conversation with Oklahoma Congressman Frank Lucas
-- Looking at our Agricultural Markets...
Here's your morning farm news headlines from the Director of Farm Programming for the Radio Oklahoma Network, Ron Hays. We are proud 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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Short Day for the Ag Futures Markets
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The open outcry trading session will be shortened by a little more than an hour on this day after Thanksgiving- and it is normally a very light trading time. One market to watch today in the short time of trading will be New York cotton, which jumped 378 points for the December contract on Wednesday- with the more active March contract higher by 280 points- very impressive gains. We may see short covering today on the last trading day of the month.
Cash livestock markets have all been closed over the last half of this week- but we do expect a good run of cattle on Monday at the Oklahoma National Stockyards, where they had just 5,200 cattle sold on Monday of this week. The market reporter offered the expectation of a much larger run this coming Monday, December first.
To check out the markets on an ongoing basis- we have some excellent resources on our MARKETS page at www.OklahomaFarmReport.Com- click on the link below and check those audio reports and other links that are available out.
A Rerun from Wednesday with the correct link- President Elect Obama Cites Abuse in Farm Programs as a Place to Trim the Fat to Pay for His Proposed Jolting of the Economy
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~President-Elect Barack Obama has sent a message that spending restraint and a federal budget overhaul are necessary in the long term. Obama sent this message just one day after discussing a stimulus package that will cost hundreds of billions of dollars and all but ensure a record budget deficit in fiscal 2009. Obama cited questionable farm payments cited in a new GAO report as an example of spending he'd cut- he cited their report that was released yesterday by the watchdog agency that was developed on things going on in the previous farm bill of 2002- not taking into account that Congress address this area in the 2008 Farm Law just now being implemented.
The General Accounting Office has released a report questioning some farm program payments made by USDA. GAO says that of the 1.8 million individuals receiving farm payments from 2003 through 2006, 27-hundred had an average adjusted gross income exceeding 2.5 million dollars. And that same group derived less than 75 percent of their income from farming, ranching, or forestry operations and some lived outside of the United States. GAO says that would make them potentially ineligible for farm payments.
GAO recommends that USDA work with IRS to develop a system for
verifying the income eligibility for all recipients of farm program
payments. If USDA determines that it needs authority to work with IRS, it
should seek this authority from Congress, as appropriate. In commenting on
a draft of this report, USDA agreed with these recommendations but
disputed some of the findings. GAO believes that the report is fair and
OSU Oilseed Specialist Dr. Chad Godsey Says Winter Canola Looking Good- and Has Details of Test Plots
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~There are a total of six locations around the state where OSU has established test plots for winter canola- and the word from Dr. Chad Godsey of OSU is that crop is looking pretty good across all six locations- and for that matter- in a great many of the fields that farmers planted as well.
The OSU test plots are located in Altus, Dacoma, Fort Cobb, Hugo, Lahoma and Stillwater. We have a link below as to our website where we have the PDF of the test plots, which varieties are planted and the actual location of the six plots. Click below to check it out.
Kansas Congressman Jerry Moran Wants President Elect Obama to Reverse the Bush Rules on Dealing With Cuba- ASAP.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Congressman Jerry Moran sent a letter to President-elect Barack Obama on Wednesday asking him to make it a priority in his new Administration to reform U.S. trade policies with Cuba. In his request, Moran asked President-elect Obama to reverse regulations put in place in 2005 by the Bush Administration that have hindered agriculture and food exports under the Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA). TSRA enacted the first substantial change in trade policy with Cuba since imposition of the Cuban trade embargo in 1962. It allowed the export of food, agricultural commodities and medical supplies from the U.S. to Cuba. Moran was the original sponsor of this legislation in July of 2000, which eventually became law in 2001.
"Since coming to Congress I have consistently supported and voted for legislation that opens Cuban markets to American goods," Moran said. "In 2000, I was proud to lead the effort to help pass the Trade Sanctions Reform and Export Enhancement Act that changed the trade policies of U.S. agriculture products to Cuba for the first time in nearly 40 years. The Bush Administration's regulations changed the meaning of TSRA policies and weakened the original intent to promote agriculture trade between the U.S. and Cuba. I encourage President-elect Obama to restore the original intent of TSRA."
In 2005, a regulation was introduced by the Treasury Department that changed the meaning of trade policies with Cuba under TSRA by redefining the meaning of "payment of cash in advance." Under this regulation, cash payments from Cuba for U.S. agriculture exports are required to be made before ships leave U.S. ports rather than upon delivery, making it difficult for American farmers to sell their products to Cuba. In addition, federal regulations prohibit direct transfers of funds from Cuban buyers to U.S. sellers, increasing transaction costs. Moran's letter today to President-elect Obama requests the new administration reverse this regulation to encourage more successful and consistent trade policies with Cuba. Moran has long supported a reform of U.S. trade policy with Cuba can facilitate new markets for U.S. farmers and ranchers and improve the opportunities for freedom for the Cuban people.
Blowing in the Wind- Our Subject Saturday Morning "In the Field with Ron Hays"
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Our guest tomorrow morning on our TV segment "In the Field" on KWTV News9 is the Deputy Secretary of Energy for the state of Oklahoma, Bobby Wegener. The Secretary visits with us about the upcoming 2008 Oklahoma Wind Energy Conference to be held this coming Tuesday and Wednesday in downtown Oklahoma City.
The conference will appeal to landowners, farmers and ranchers who want to hear more about land leasing issues, wind turbine manufacturers, wind farm developers, community planners and community developers, economic development groups, consultants, sustainable energy advocates, conservation and environmental groups, utility companies and co-ops.
We have an audio conversation with Bobby Wegener on the conference that we conducted while he was in our offices doing the TV segment with us. Take a look on Saturday morning on KWTV News9- and click on the link below for full details on the Wind Energy Conference and an opportunity to hear the conversation with Bobby Wegener.
Podcast Reminder- Our Conversation with Oklahoma Congressman Frank Lucas
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~In case you missed our story on Wednesday- I wanted to remind you of our Ag Perspectives Podcast with Oklahoma's man on the House Ag Committee, Congressman Frank Lucas. We talked to Lucas out in rural Dewey County on Tuesday of this week- and our conversation started with Conservation funding but when to other parts of the farm bill, and we discussed the possibility that Lucas may be named the Ranking Minority Member of the House Ag Committee, meaning he would be the lead Republican on the Committee opposite of Congressman Collin Peterson.
Click on the link below to jump to our story and the audio with Congressman Lucas- and we remind you that you can subscribe to one of three regular audio features that we have on our website- our daily morning farm and ranch news, our daily Beef Buzz and the periodic Ag Perspectives features. You can subscribe through Itunes or directly on our site. Of course, we have all of these audio reports on our website- and available 24/7 when you want to listen to them on your schedule.
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Looking at our Agricultural Markets...
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