Howdy Neighbors!

Here's your morning farm news headlines from the Director of Farm Programming for the Radio Oklahoma Network, Ron Hays. We are proud to welcome Big Iron Unreserved Online Auctions as our newest sponsor of the daily Email. Their next auction is Wednesday, October 27 - featuring Low Hour, Farmer Owned Equipment. Click here for their website to learn more about their Online Farm Equipment Auctions.

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.

And we salute our longest running email sponsor- Midwest Farm Shows, producer of the springtime Southern Plains Farm Show, as well as the upcoming Tulsa Farm Show. Click here for more on the December 2010 Tulsa Farm Show, including information on how you can be an exhibitor.

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.

Lucas spoke of several familiar priorities with Farm Bureau leaders- including the need to postpone working on a new farm bill until 2012- instead of pushing for a 2011 start as advocated by the current Chairman of the House Ag Committee, Collin Peterson. He also spoke of the need for oversight hearings and told afterward that a list is being compiled of agencies and issues where oversight needs to be addressed.

One issue that he mentioned as a candidate to be considered in the House Ag Committee during the Lame Duck Session is the proposed livestock market rule from GIPSA at USDA. Saying that USDA could move quickly after the November 22nd end of the public comment period to make the rule final- he promises a personal conversation with current Chairman Collin Peterson on GIPSA when the Lame Duck goes into session November 15.

Click on the LINK below to listen to our latest conversation with Congressman Frank Lucas as the midterm elections near- and with those elections the persistent question to be answered for Oklahoma Ag Interests- will Frank be Chairman Frank come January or not.

Click here for our latest visit with Congressman Frank Lucas as we caught up with him in Oklahoma City on Tuesday.

The proposed rule addresses concerns that have been discussed for decades. The rule is also well within the scope of GIPSA's authority granted by the Packers and Stockyards Act and was developed in response to the 2008 Farm Bill, which requires USDA to carry out specific rulemaking to improve fairness in the marketing of livestock and poultry.

Johnson acknowledges that some clarifications may be needed to address some of the concerns of the producer groups who are against the rule- but clearly NFU is on board with Dudley Butler and the Obama Administration on the majority of the proposal. Click on the LINK below for more on this proposal that some say will lead to the most sweeping changes in livestock marketing in almost a hundred years.

Click here for the NFU Call for Enactment of the GIPSA Marketing Rule

Lead Lobbyist for the National Cattlemen's Beef Association, Colin Woodall, says its imperative that individuals send comments to Secretary Vilsack about how the rule will impact them- that if the agency is buried in comments about the proposal- it will be harder for them to ignore all of the comments and finalize the rule the next day.

We talk about this with Woodall on today's Beef Buzz- click on the LINK below to jump to our page on OklahomaFarmReport.Com for the first part of our conversation with him this week on the subject. We talked with him during the Texas Cattle Feeders Association convention that was held in Oklahoma City.

Click here for Colin Woodall's current thoughts on the GIPSA Rule Rumble

The Congressionally mandated RFS2 goal is to use at least 36 billion gallons of bio-based transportation fuels by 2022 that reduce greenhouse gas emissions by the percentages specified under the RFS2. Fifteen billion gallons can come from conventional biofuel sources such as corn ethanol. EPA's analysis projects that 15 billion gallons of conventional biofuels could come from current or planned production capacity of corn starch ethanol by 2022.

The 21 billion gallons of biofuels not coming from grain starch based ethanol is the question mark- and will be one of the prime things that will be discussed in this forum Thursday evening.
The local contact for the Forum is Britton Rife, who may be reached by calling 405-325-8870.

Click here for our calendar listing of this event planned for Thursday evening in Weatherford, Oklahoma

"Chinese flour millers need imported, high-quality wheat to blend their domestic medium protein wheat up or down to produce flour products that meet increasing demand for more premium products," Weimar said. "Their imported wheat reserves are low, so the market is calling for more imported wheat from classes like hard red spring, soft white and maybe some hard red winter.
Weimar directs USW promotion programs in the People's Republic of China and North Asia. He said China's wheat imports could increase from about 31 million bushels in 2009 to 55 million bushels in 2011.
"To position U.S. wheat as the right choice to meet that need," Weimar said, "we are focused on educating large millers about the ability to certify the quality and characteristics they need from the U.S. wheat supply chain." Weimar also noted the on-going USW effort to train Chinese millers and bakers to produce flours and premium products that favor a preference for U.S. wheat.

Mike Krueger, who advises farmers on crop marketing, said Chinese demand for corn is helping increase U.S. corn prices. That also has an impact on U.S. wheat prices.
"Some analysts believe China could import three or more metric tons of U.S. corn this marketing year," Krueger said. "That is not a huge export market for corn, but meat consumption keeps growing and China really doesn't have an alternative to corn as a course feed grain. On top of the lower U.S. production forecast and the existing ethanol demand, Chinese demand is helping to hold up U.S. wheat prices."

The comments of both of these gentlemen came during the Fall Board Meeting of US Wheat that was held in conjunction with the National Association of Wheat Growers in Minneapolis this past week.

"Feeder prices in Oklahoma are likely at the seasonal low and are expected to strengthen a bit in the last part of the year. Relative feeder prices provide several distinct signals to cow-calf, stocker and feedlot producers. Last week in Oklahoma, the cheapest feeder animal up to 850 pounds, on a $/cwt. basis was a 600 pound steer. At this time, there is relatively little demand for such an animal. It is a bit too heavy for traditional stocker programs and too light for feedlots to want to feed a lot of expensive corn to. There is also a relatively sharp break above and below 500 pounds. These price signals suggest several strategies for cattle producers."

Click on the LINK below for more of Dr. Peel's thoughts on the current market signals for cattle going onto wheat pasture here in the state.

Click here for more on the economics of wheat pasture for this fall in Oklahoma with OSU's Derrell Peel

The economists report: replacing petroleum gasoline with less expensive ethanol would reduce domestic spending on motor fuels. This reduction would occur as long as ethanol is competitive with imported petroleum oil. The cost savings from reduced motor fuel expenditures are passed on to households. The Department of Energy expects the price of ethanol to remain competitive at about two-dollars a gallon, with oil going higher than 100-dollars a barrel by 2020.

As the report asserts, success in meeting the RFS depends on overcoming some challenges, but the long-term gains to the economy from increased production of ethanol, are clear. If we truly want to reduce our dependence on foreign oil, create jobs and improve our environment, we must increase the use of biofuels in our fuel system.

Click here for more on this study from USDA than makes the case for ethanol produced here in the USA

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.

Click here to check out WWW.OklahomaFarmReport.Com

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:
Our Daily Market Wrapup from the Radio Oklahoma Network with Ed Richards and Tom Leffler- analyzing the Futures Markets from the previous Day-
Ron on RON Markets as heard on K101 mornings with cash and futures reviewed- includes where the Cash Cattle market stands, the latest Feeder Cattle Markets Etc.
Previous Day's Wheat Market Recap- Two Pager From The Kansas City Board of Trade looks at all three US Wheat Futures Exchanges with extra info on Hard Red Winter Wheat and the why of that day's market.
Daily Oklahoma Cash Grain Prices- As Reported by the Oklahoma Dept. of Agriculture. <
The National Daily Feeder & Stocker Cattle Summary- as prepared by USDA.
The National Daily Slaughter Cattle Summary- as prepared by USDA.
Finally, Here is the Daily Volume and Price Summary from the Texas Cattle Feeders Association.