Category: Ag News

Wed, 02 Nov 2022 15:24:25 CDT

The U.S. Department of Agriculture and the Oklahoma Department of Agriculture are now putting the Daily Cash Grain Report into a PDF format – we are saving that PDF and archiving them for today’s specific report. To see today’s update, click on the PDF report link at the bottom of this story.

In addition to the PDF of the daily report, you can also listen to the Cash Grain Report by calling 405-621-5533. Push 2 for the grain report.

Click here: 04947_OklaCashGrain11022022.pdf

Wed, 02 Nov 2022 14:40:24 CDT

Click here to listen to audio

Listen to today’s report with Justin Lewis, by clicking or tapping on the LISTEN bar

Justin Lewis of KIS Futures has all the details on today’s agricultural markets for RON listeners, below.

click to play audio or right-click to download

Wed, 02 Nov 2022 13:40:38 CDT

Oklahoma State University researchers have joined Texas A&M University and Kansas State University in a $2 million collaborative research project to develop better nitrogen management practices for producers.

The U.S. Department of Agriculture’s Partnerships for Climate-Smart Commodities project could be allotted up to $65 million with $2 million of the funding going to the research side of the project while the rest will go toward the United Checkoff Program, which will help producers implement better nitrogen management practices and adopt smart technology into their operations.

“We’re all Extension specialists, so basically, that means we take the research straight into the field, and by the end of this five-year project, we will have tools and strategies to put out there that are aimed at increasing nitrogen use efficiency,” said Brian Arnall, Oklahoma State University Extension specialist for precision nutrient management. “All three universities are doing the same base set of treatments and analysis, then we may add some regionally specific ideas on nitrogen management.”

Nitrogen management research is usually conducted in a variety of regions and examines factors specific to the area. Examples include studying specific fertilizers commonly used in Oklahoma or GreenSeeker technology, which reads crop health and uses an N-Rich strip to make precision nitrogen rate recommendations.

“The question is can we protect the nitrogen we’ve applied with products that are in the marketplace to keep nitrogen from being lost?” Arnall said. “What’s nice about this project is many of us are already doing work like this on our own. This just allows a concerted effort to better focus in on management practices that can be adapted across the plains.”

The research will re-evaluate nitrogen management guidelines. Arnall said in most of his research, he evaluates nutrient stabilizers and nitrogen safener technology.

Jason Warren, OSU Extension specialist for soil and water conservation, and Josh Lofton, OSU Extension specialist for cropping systems, will look at how nitrogen management affects nitrous oxide transmissions from sorghum and the impact of nitrogen management on plant physiology.

Lofton said most of the applied research conducted within plant and soil sciences at OSU, whether related to nitrogen or soil health, is connected to climate change.

“In Oklahoma, it’s not necessarily just research to see the top end yield of a crop. Our job is to be focused on our environmental conditions and limit the cost and excessive inputs across the board. We’re focused on putting the right things in the right places at the right time,” Lofton said. “This current project came together because of decades worth of work that wasn’t focused directly on climate change but had it in the background. Now that we have the background information, we can focus on more direct aspects of how the agricultural system and crop is affecting the climate.”

This material is based upon work supported by the Climate-Smart Commodities Project under the U.S. Department of Agriculture. Any opinions, findings, conclusions or recommendations expressed in this publication are those of the author(s) and do not necessarily reflect the view of the USDA.

Wed, 02 Nov 2022 13:18:35 CDT

The U.S. Department of Agriculture (USDA) announced the appointment of four members to serve on the United Sorghum Checkoff Program’s Board of Directors. All four appointees will serve three-year …

Wed, 02 Nov 2022 12:29:53 CDT

Looks like Fed cattle prices are finally on the top side of $150/cwt. with last week’s six-state average $151/cwt. paid for steers. It has been a long upward grind to this point, but the past two …

Wed, 02 Nov 2022 11:27:10 CDT

CHS Inc., the nation’s leading agribusiness cooperative, today reported net income of $1.7 billion for the fiscal year ended Aug. 31, 2022, compared to $554.0 million for fiscal year 2021.

Key financial drivers for fiscal year 2022 results include:

· Consolidated revenues of $47.8 billion for fiscal year 2022 compared to $38.4 billion for fiscal year 2021, a year-over-year increase of 24%.
· Refining margins in our Energy segment were higher and drove improved earnings due to the tightening global supply and demand landscape.
· The CHS global grain and processing and wholesale agronomy businesses within our Ag segment benefited from strong global demand and increased margins.
· Our equity method investments performed well, with increased CF Nitrogen earnings resulting from strong global demand for urea and urea ammonium nitrate (UAN), coupled with decreased global supply.

“We appreciate the support of our member cooperatives and farmer-owners, which enabled us to deliver a substantial increase in earnings for the fiscal year, while also helping feed people around the world,” said Jay Debertin, president and CEO of CHS Inc. “Additionally, our employees demonstrated their dedication to helping our owners and customers succeed in a turbulent year for agriculture. As a result of these collective efforts, CHS intends to return $1 billion in cash patronage and equity redemptions to our member cooperatives and farmer-owners in fiscal year 2023, reflecting the company’s financial strength and demonstrating the value of cooperative ownership.

“We are proud of our role in the cooperative system. We will continue to make investments that strengthen rural America and help our farmer-owners and customers meet the growing demand for agricultural products. Our investments in infrastructure, supply chain capabilities, people and innovation are driving operational and efficiency gains throughout our expansive network,” Debertin added. “Although economic uncertainty, logistical challenges and inflationary pressures remain, CHS is well-positioned to maximize value for our member cooperatives and farmer-owners.”

Fiscal Year 2022 Business Segment Results
Fiscal year 2022 segment results are:

Energy
Pretax earnings of $616.6 million represent a $627.1 million increase versus the prior year and reflect:

· Higher refining margins and increased discounts on heavy Canadian crude oil processed by our refineries contributed to a significant increase in our refined fuels business income; these increases were partially offset by higher renewable energy credit costs and higher natural gas costs, as well as lower margins in our propane business.

Ag
Pretax earnings of $657.6 million represent a $359.5 million increase versus the prior year and reflect:

· Increased margins across all our Ag segment product categories, due to strong global market demand and global supply disruptions
· Continued favorable markets for oilseed processing, which were bolstered by robust meal and oil demand
· Increased revenues from feed and farm supplies, despite less favorable weather during spring planting and application season

Nitrogen Production
Pretax earnings of $478.0 million represent a $357.0 million increase versus the prior year and reflect:

· Increased earnings from our strategic investment in CF Nitrogen, primarily due to market conditions and strong demand for urea and UAN, factors that were partially offset by higher natural gas costs

Corporate and Other
Pretax earnings of $57.9 million represent a $48.9 million decrease versus the prior year and reflect:

· Lower earnings primarily from our Ventura Foods joint venture, which experienced less favorable market conditions for edible oils

Wed, 02 Nov 2022 10:58:15 CDT

Today, the National Cattlemen’s Beef Association commended the U.S. Department of Agriculture (USDA) following Secretary Tom Vilsack’s announcement of over $223 million in grants and loans t…

Wed, 02 Nov 2022 10:58:11 CDT

More Than $223 Million in Grants and Loans Will Increase Competition and Economic Opportunities for Meat and Poultry Processors and Producers around the Country, and Help Lower Costs for Working Familie…

Wed, 02 Nov 2022 09:30:25 CDT

Nearly 2.3 million Oklahomans are registered to vote ahead of the November 8 General Election, with a net increase of more than 77,000 registered voters since January 15 and a net increase of more than …