~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Wednesday September 3, 2008!A service of Producers Cooperative Oil Mill, Farm Credit Associations of Oklahoma and Midwest Farm Shows!
-- Gustav's Remains Raining on Poteau
-- Kansas City Wheat Price Support Violated on Tuesday.
-- Cooler, Wet Conditions Result in Improved Crop Conditions and Potentially Better Yields.
-- Langston Tapped for 1890 Grant from USDA
-- Final Peanut Countercyclical Payments Handed Out for 2007 Crop
-- Republicans Go On Record to End the Renewable Fuels Standard and "Let the Markets Work"
-- Calendar Items Added on Tuesday With More to Come
-- Let's Check the Markets!
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Gustav's Remains Raining on Poteau
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The heaviest rain from the leftovers of Gustav in the state of Oklahoma has been in McCurtain and LeFlore Counties- with the Poteau area receiving over three and half inches of rain since yesterday morning. In Arkansas, the rainfall amounts are even higher- one of our friends in Little Rock says it's been raining like crazy for about 24 hours.
Lesser amounts of precipitation have fallen from the system in other eastern Oklahoma locations- but Gustav has touched our state in a minor way.
Overall, the month of August turned out to be a very good month of moisture across much of the state- with the exception of north central Oklahoma from around Enid north to the state line. There were six Mesonet stations that received less than an inch of precipitation over the last thirty days, including Burbank, Red Rock, Medford, Breckinridge, Fairview and Lahoma.
The driest part of the state, the Panhandle, did receive four and a half to five inches of rain early in August- but very little to nothing in the last two weeks. There is only one location in the state that has still not hit double digits in the total amount of precipitation for the year- and that dubious distinction goes to Boise City with about nine and a half inches of rain received in 2008 thus far. Based on Mesonet stations that have totals available for 2008- the wettest spot thus far for the year is Jay, with a little more than 53 inches of rain for the year. In most locations, we are several inches under precip totals of 2007 as we hit this first week of September.
Kansas City Wheat Price Support Violated on Tuesday.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Hard Red Winter Wheat Futures have broken below a key support level of $8.20, closing well below that mark on Tuesday after the Labor Day holiday weekend. In overnight electronic trade Wednesday morning, the trend down remains intact, with prices, basis December, at $8.06.
Extension Grain Marketing Economist Dr. Kim Anderson of Oklahoma State University says that if the wheat price stays below $8.20 and settles below $8.20 on Wednesday as well, that support level will be gone and that the next support level to the downside is somewhere around $7.50 per bushel.
We have audio comments from Dr. Anderson on our website this morning- as he talks about current support levels, cash prices and the global prospects for wheat- which he says seems to be at expectations or higher, the reason for current price weakness. Click below to jump to that story.
Cooler, Wet Conditions Result in Improved Crop Conditions and Potentially Better Yields.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The latest Oklahoma Crop Weather Update came out this week on Tuesday afternoon after the Labor Day holiday- and crop conditions continued to gradually improve for several of our state's row crops.
The past few week of cool and wet weather have continued to improved row crop conditions and may have a positive impact on future yields in some areas. Ninety-three percent of the State's corn had reached the dough stage, up four points from the previous week but six points behind the normal. Forty-five percent of the State's corn had been harvested by week's end. Sorghum headed increased 10 points from the previous week to reach 68 percent complete but was 17 points behind normal. Thirty-nine percent of the sorghum was coloring by the end of the week, an increase of 11 points from the previous week but six points behind normal. A small percentage of the State's sorghum had been harvested. Soybeans blooming increased 10 points from the previous week to reach 90 percent, equal to the five-year average. Seventy-three percent of the soybeans were setting pods, up 12 points from the previous week but two points behind normal. Peanuts setting pods increased five points from the previous week to reach 95 percent complete, four points behind normal. Peanuts had reached maturity in a few areas of the State. Cotton setting bolls reached 98 percent complete, up 10 points from the previous week and two points ahead of normal. Cotton bolls were opening on 11 percent of the State's cotton by week's end.
The weekly update- linked below- indicates that a small percentage of the wheat crop has been seeded by the end of this past week. No actual percentage of planting was offered by this weekly government report.
Langston Tapped for 1890 Grant from USDA
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Agriculture Under Secretary for Rural Development Thomas C. Dorr today announced the selection of 15 historically African-American land-grant institutions in 14 states to receive a total of $1.5 million in economic development and business promotion grants. "These funds are part of USDA Rural Development's ongoing efforts to ensure that all rural Americans are able to share in the nation's economic growth," Dorr said. "USDA has been working with the 1890 institutions and Tuskegee University for more than a decade to help them reach rural residents in communities with the greatest economic need."
The grants will help create businesses, promote cooperatives and provide employment opportunities. The recipients are among the 18 institutions supported under the Second Morrill Act of 1890, a law providing for the establishment of land-grant institutions focusing on agriculture, home economics and the mechanic arts.
Langston University in Langston, Okla., was selected to receive a $100,000 grant to strengthen and develop rural enterprises in seven underserved rural communities in five counties throughout Oklahoma. The university will conduct seminars and workshops focusing on business counseling, technology training, grant writing and loan package preparation in targeted rural communities. Langston will place a special emphasis on creating value-added and renewable energy ventures. This effort is expected to create or save 25 local jobs.
Final Peanut Countercyclical Payments Handed Out for 2007 Crop
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~USDA's Commodity Credit Corporation will issue 82- million dollars in final 2007 counter-cyclical payments to eligible producers with enrolled peanut base acres in the Direct and Counter-cyclical Program. The final CCP rate for producers with enrolled peanut base acres is 49-dollars per short ton. Peanut farmers who accepted the first partial payment in February 2008 of $7.60, are now due an additional $41.40 per ton.
The CCP rate is the amount by which the "target price" of each commodity, specified by the 2002 Farm Bill, exceeds its effective price. The effective price equals the direct payment rate plus the higher of either: (1) the national average market price received by producers during the marketing year; or (2) the national average loan rate for the commodity. The counter-cyclical payment amount equals the CCP rate, times 85 percent of the farm's base acreage, times the farm's CCP yield.
No partial or final 2007-crop counter-cyclical payments were made for wheat, barley, and oats because prices averaged well above levels that would trigger counter- cyclical payments. Final payments for upland cotton, corn, grain sorghum and soybeans will be made after harvest numbers are in.
Republicans Go On Record to End the Renewable Fuels Standard and "Let the Markets Work"
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Delegates to the Republican National Convention this week have adopted a party platform that would essentially end the Renewable Fuels Standard passed by Congress and signed by the president in December as part of comprehensive energy legislation. However, they do support the development of cellulosic ethanol and increased flex-fuel vehicles on the road. Under the agriculture section, the platform talks about food versus fuel concerns and states that the "U.S. government should end mandates for ethanol and let the free market work."
Under the energy section, the platform states that we "must continue to develop alternative fuels, such as biofuels, especially cellulosic ethanol, and hasten their technological advances to next- generation production" and says that "because alternative fuels are useless if vehicles cannot use them, we must move quickly to flexible fuel vehicles."
The Renewable Fuels Association expressed concern about the Republican platform. RFA President Bob Dinneen called it "inconceivable that the Republican Party would adopt a platform that limits the energy options available to the American people." "Fortunately, many leaders in the Republican Party, including the President of the United States, understand the importance of a strong renewable fuels policy," said Dinneen. "Regardless of the outcome of this year's elections, the American ethanol industry stands ready to continue working with Congress to provide a clean, safe and secure alternative to foreign oil and gasoline."
Calendar Items Added on Tuesday With More to Come
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~We added several new items to the our calendar page on Tuesday, and have several more to be listed as the week wears on. The latest events being added include a pair of White-tailed Deer Management Seminars to be happening in southern Oklahoma later this month.
Jump to our website for information and more on these events- and take a look at all of the other items we are continually adding to the best listing of Oklahoma related farm and ranch and rural events to be found on the internet.
If you don't see an event that you are in charge of- or that you want to have listed- drop us an email. AND- if you have a purebred cattle sale coming up - email us at the address found at the bottom of this email as we would love to tell you about the options for publicizing your auction on our website, as well as Radio Oklahoma Network mentions as well!
Our thanks to Midwest Farm Shows, Farm Credit Associations of Oklahoma and Producers Cooperative Oil Mill for their support of our daily Farm News Update. For your convenience, we have our sponsors' websites linked at the top of the email- check them 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!
We also invite you to check out our website at the link below to check out an archive of these daily emails, audio reports and top farm news story links from around the globe.
Let's Check the Markets!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~After falling on Tuesday, overnight electronic grain futures kept the move to the downside going, with Kansas City wheat down another five cents a bushel, basis December, corn off eight cents a bushel and soybeans extended their losses of Tuesday another 23 cents a bushel on the November new crop contract.
Here are some links we will leave in place on an ongoing basis- Click
on the name of the report to go to that link:
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