~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Friday January 8, 2010A service of Producers Cooperative Oil Mill, Midwest Farm Shows and KIS Futures!
-- Winter Canola Prospects Looking Good for 2010- Meetings Planned
-- Wheat Market Trying To Work Higher- Dr. Kim Anderson Explains
-- OACD Expresses Worry About High Hazard Dams Across Oklahoma
-- NCBA Submits Comments on Agriculture Competition
-- CFTC Releases Report on Cotton Volatility
-- USDA Shovels Out $175 Million to Livestock Producers
-- Farm Futures Says that 2010 Crop Mix Could Be Much Different
-- 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 proud to have KIS Futures as a regular sponsor of our daily email update. KIS Futures provides Oklahoma Farmers & Ranchers with futures & options hedging services in the livestock and grain markets- Click here for the free market quote page they provide us for our website or call them at 1-800-256-2555.
We are also excited to have as one of our sponsors for the daily email
Producers Cooperative Oil Mill, with 64 years of progress through
producer ownership. Call Brandon Winters at 405-232-7555 for more
information on the oilseed crops they handle, including sunflowers and
canola- and remember they post closing market prices for canola and
sunflowers on the PCOM
website- go there by clicking here.
If you have received this by someone forwarding it to you, you are welcome to subscribe and get this weekday update sent to you directly by clicking here.
Winter Canola Prospects Looking Good for 2010- Meetings Planned
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The 2010 Southern Plains winter canola crop is looking good, according to reports coming from the Producers Cooperative Oil Mill here and the Plains Oilseed Producets Cooperative. "We are very pleased with the winter canola crop condition from North Texas to the Oklahoma-Kansas border" reports Gene Neuens, field representative for PCOM and exec. director of the POP Cooperative. "Cold weather has taken the crop into dormancy with plenty of soil moisture.
"We are urging canola producers to fertilize their crop now with 50-0-0-15 sulfur. Producers should follow soil test fertilizer recommendations for each field where they have canola planted and when the weather warms up, we recommend checking the bottoms of the canola leaves for the presence of Diamond Black larvae and aphids."
Neuens reports a busy schedule of production meetingsSouthern Plains
winter canola farmers can attend.
We have talked with Gene Neuens and you can listen to our conversation with Gene by clicking on the link below. You can also see Gene with us on our In the Field segment this Saturday morning on News9- KWTV at 6:40 AM during their Saturday morning news block.
Wheat Market Trying To Work Higher- Dr. Kim Anderson Explains
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The current wheat market seems to be in something of an uptick with Kansas City March 2010 futures at or just above $5.50 per bushel. OSU Grain Marketing Economist Dr. Kim Anderson says that the the current positive energy in the market needs to continue this coming week- and could get bullish news with the acreage report that USDA will release this coming week. Dr. Anderson says that everyone expects fewer winter wheat acres were planted this past fall- both soft red winter and hard red winter classes. Dr. Anderson believes that the market continues to tell producers we need fewer acres in the US and globally- and that the smaller number of acres of winter wheat is generally already priced into the market.
We have the conversation that Kim Anderson had with Clinton Griffiths of the OSU Ag TV show SUNUP at the link below- click to hear all of Kim's comments on the wheat market on this side of the New Year.
In addition, we have the lineup for this Saturday's SUNUP show that will be seen on OETA- click to see that as well as listen to the current wheat market outlook with Kim Anderson.
OACD Expresses Worry About High Hazard Dams Across Oklahoma
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The Legislature and Congressional Delegations of Oklahoma should explore all options available to help address the growing challenge facing the state from aging dams and the increasing number of "high-hazard" flood control dams, especially in times of increasingly tight state budgets, according to a recent report from the Oklahoma Conservation Commission and the Oklahoma Water Resources Board. According to the report, many of the dams that are now classified as high-hazard were originally built as low hazard dams, but now must be upgraded to this higher status because of the construction of homes and businesses below them.
"Oklahoma has over 199 dams that were originally constructed as low-hazard sites that now have been up graded to high-hazard because of development below them," said Trey Lam, President of the Oklahoma Association of Conservation Districts (OACD). "Because of this we now have to rehabilitate these sites to make them comply with state dam safety requirements for high-hazard dams, a process that can cost around $1 million per dam on average. That's a lot of money during these tight times."
The report, released in late December 2009, was authorized by the passage of House Bill 1884 by State Representative Phil Richardson and State Senator Ron Justice. This legislation directed the Oklahoma Conservation Commission and the Oklahoma Water Resources Board to make recommendations on actions that might be taken to reduce the number of low-hazard dams that are reclassified to high-hazard dams due to downstream construction. The bill also directed the agencies to formulate a public education plan to inform the general public and officials on the safety risks associated with building below a low-hazard dam and to explore all funding options that might be available for the upkeep and rehabilitation of dams and levees located in the state. Findings of the report included the need for mapping the breach inundation area below all dams in the state; the need for additional funding for rehabilitating dams that have reached their design life, are in need of repair, or that have their hazard status changed due to downstream construction; and the need for additional educational materials and outreach to those living below dams or who are planning to build on property below dams. According to Lam, all of these recommendations have one thing in common- money.
NCBA Submits Comments on Agriculture Competition
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The National Cattlemen's Beef Association (NCBA) submitted comments last week to the U.S. Department of Justice (DOJ) regarding the upcoming DOJ-USDA workshops to explore competition and regulatory issues in the agricultural industry. The comments were submitted pursuant to DOJ's Federal Register notice of August 27, 2009.
Because agricultural commodity markets are all distinctly different, NCBA is pleased that DOJ will hold a separate and distinct workshop for beef marketing (August 26, 2010 in Fort Collins, Colo.). NCBA made several recommendations regarding the structure of this workshop.
NCBA recommends the workshop be divided into several different panel discussions, including: production, marketing trends, economics, and legal issues. Because the beef industry is highly reliant upon the banking sector and the ability to borrow both working capital and capital for fixed assets, NCBA also suggests the workshop include educational opportunities on the subjects of risk-management practices and anti-trust laws. In addition, NCBA recommends that all economists chosen to participate on the panel should have peer-reviewed, published research specifically in the area of cattle and beef market structure.
CFTC Releases Report on Cotton Volatility
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~A 20-month investigation by the Commodity Futures Trading Commission into wild price swings in ICE cotton futures during the week of March 3rd 2008 uncovered no evidence of market manipulation. The extreme volatility pushed several cotton merchants out of business.
The CFTC published a 29-page report this week detailing trading activity in cotton during a four-week period beginning on February 20th, when the May 2008 contract settled at 72.27-cents per pound. By March 5th, the contract reached a high of 92.86 cents and by March 19th was back down to 72-cents. During the period, May cotton settled limit-up four times and limit-down five times.
The CFTC concluded that the sudden rise and fall in the price of cotton reflected a multitude of changing expectations regarding fundamental and economic factors, including the rally in other commodities and the elimination of open-outcry trading of cotton. The Commission notes that volatility started to accelerate on March 3rd, the same day electronic trading became the exclusive platform for trading cotton futures on ICE.
USDA Shovels Out $175 Million to Livestock Producers
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Agriculture Secretary Tom Vilsack says, to date, USDA has made more than 175-million dollars in disaster payments to America's livestock producers. Many of these funds were made possible through two new programs implemented in 2009. Vilsack says - the previous ad hoc disaster assistance too often was too little, too late. But, because we were able to get these new programs up and running quickly, we are already beginning to achieve Congress' goal of helping producers recover losses rapidly and more thoroughly.
The Livestock Indemnity Program provides payments to eligible livestock owners and contract growers who suffered eligible livestock deaths in excess of normal mortality as a direct result of an eligible adverse weather event. Eligible livestock under LIP include beef cattle, alpacas, buffalo, beefalo, dairy cattle, deer, elk, emus, equine, goats, lambs, poultry, reindeer, sheep and swine. Producers have until January 30th to file an application for payment.
The Livestock Forage Disaster Program provides payments to eligible livestock producers who have suffered livestock grazing losses due to qualifying drought or fire. Eligible livestock under LFP include beef cattle, alpacas, buffalo, beefalo, dairy cattle, deer, elk, emus, equine, goats, llamas, poultry, reindeer, sheep and swine. Producers have until January 30th to submit a completed application for payment and required supporting documentation to their administrative county FSA office.
Farm Futures Says that 2010 Crop Mix Could Be Much Different
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The weather has forced producers to revamp cropping choices significantly for 2010. Farm Futures surveyed more than one-thousand growers in December and found that farmers now intend to plant 89.48 million acres of corn. That's three-million acres more than they planted in 2009 and two-million more than suggested by farmers surveyed in August.
Reporting results of the survey at the start of the two-day Farm
Futures Management Summit in St. Louis, Farm Futures Senior Editor Bryce
Knorr, saId the survey shows farmers are ready to increase soybean
plantings, too, with producers gearing up to put in almost 80-million
acres of the crop, around 2.5-million more than the record they achieved
Fertilizer application is a consideration. According to Farm Futures market Analyst Arlan Suderman, the survey shows that farmers normally try to apply around 46% of their fertilizer in the fall, but were able to put down only 33% before winter weather shut them out of the field. With timeliness crucial for yields, Suderman says, - some farmers may not have a long enough window for the fieldwork needed to plant corn.
Our thanks to Midwest Farms Shows, PCOM, P & K Equipment/ P & K Wind Energy, Johnston Enterprises, AFR and KIS Futures 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!
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!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~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 $7.95 per bushel, while the 2010 New Crop contracts for Canola are now available are $8.15 per bushel- delivered to local participating elevators that are working with PCOM.
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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