~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Tuesday October 9, 2007!A service of Farm Credit of East Central Oklahoma, American Farmers and Ranchers & Midwest Farm Shows
-- Howdy Neighbors from Cologne, Germany!
-- Wheat Market Tumbling As Profit Taking Sweeps In.
-- Governor's Conference on Biofuels moves to OKC- Happening One Week from Today!
-- Meet Bob Drake- Candidate for President of the Oklahoma Farm Bureau.
-- US Wheat Associates Jawboning with the Canadian Wheat Board- Which is better- the Single Desk or the Open Market???
-- Beef Buzzing with Dr. Jake Nelson of OSU
-- If You Buy Those Cattle Right- You Can Make Money!
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 Farm Credit of East Central Oklahoma as a regular sponsor of our daily email update. Farm Credit of East Central Oklahoma has ten branch offices to serve your farm financing needs and is dedicated to being your first choice for farm credit. Check out their website for more information by clicking here!
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Howdy Neighbors from Cologne, Germany!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~All of this week, we are in Germany along with a group of other members of the agricultural media, a whole host of crop consultants and agronomists who are being updated about the latest research and products of Bayer Crop Science. We actually begin our meetings here on Tuesday- Monday was a travel day- so we will have more from these meetings and from interacting with these crop advisors from both wheat country as well as corn and soybean land.
Five quick observations as we arrive here and set up shop-
One of the folks we have already had a chance to talk with a little and we will be sharing some comments with him later in the week is one of founders of Crop Quest Agronomic Services out of Dodge City, Ron O'Hanlon. Ron's company serves Oklahoma as well as four other states with agronomic consulting services- and has since the early 1990s.
Wheat Market Tumbling As Profit Taking Sweeps In.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~"Everybody tried to get out the door at the same time and the door was not big enough" is how one trader described the wheat market on Monday as the futures in Chicago, Kansas City as well as Minneapolis all got hammered and finished limit down. The move is not yet done, as overnight electronic trade shows wheat prices are down twenty cents a bushel of more in Kansas City and Chicago wheat futures.
Everybody pretty well agreed that the wheat market was due for a correction and when we started the week with no fresh bullish news- down the market came. In the case of the Kansas City Board of Trade, rains in portions of Kansas and Oklahoma likely aided the planting and emergence of the 2008 winter wheat crop and that hurt prices along the way.
At least one analyst I read believes that the wheat market has put its top in for 2007- and it's hard to argue with that- at the peak not much more than a week ago- we saw cash wheat prices very close to $9.00 a bushel in the state of Oklahoma at local elevators. Now, based on where wheat futures may end up later today- eight dollars or better may become a memory of 2007 as well. I have linked the latest wheat elevator prices from the Oklahoma Department of Ag below to let you see where they are as we begin today- obviously with prices falling more than 30 cents per bushel- several elevator locations added some protection to the downside with the bids they were posting yesterday afternoon.
Governor's Conference on Biofuels moves to OKC- Happening One Week from Today!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The Second Oklahoma Biofuels Conference, October 16 and 17, 2007 in Oklahoma City will offer those in the agriculture, biotechnology and the energy industries the opportunity to discover more about the biofuel future from national, regional and local presenters. Conference attendees will be updated on developments related to the new Oklahoma Bioenergy Center research initiative, development of feedstock varieties, advances in biorefinery technology, new federal funding for energy crops, the debate over fuel versus food, water usage, carbon control policies and more.
James Woolsey, former director of the CIA, will be a keynote speaker at the Oklahoma Biofuels Conference and will address the relationship between national security and the development of alternative transportation fuels. Other topics will include the growth in the U.S. biofuels industry, current and emerging research and development initiatives and Oklahoma's emerging biorefining sector. Additional national presenters include: John Ferrell, U.S. Department of Energy; Duane Grant, USDA Advisory Committee on Biotechnology and 21st Century Agriculture; Richard Hess, Idaho National Laboratory; Anna Rath, Ceres, Inc.; Robert White, Ethanol Promotion and Information Council; Dr. Steven Phillips, National Renewable Energy Laboratory; Curt Rich, Van Ness Feldman; David Terry, Governors' Ethanol Coalition and Dr. Jeffery Dahlberg, National Sorghum Producers.
Registration is $45. For more information, a complete list of speakers or registration, click on the link provided below or call 1-800-203-5494. The Oklahoma Biofuels Conference is presented by the Office of the Secretary of Energy, State of Oklahoma, in collaboration with the Oklahoma Department of Agriculture and the Office of the Secretary of Environment, State of Oklahoma.
Meet Bob Drake- Candidate for President of the Oklahoma Farm Bureau.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Today and Thursday, we want to share with you two interviews that we have done with the two announced candidates for the President's job of the Oklahoma Farm Bureau. In this email, we spotlight our conversation with Bob Drake, current Vice President of the organization and a long time member of Farm Bureau from Murray County.
Drake has been a county leader for many years within the organization and more recently on the state board of Directors. He has also been a leader within the cattle industry and served as the last President of the old National Cattlemen's Association as the group merged with other cattle groups and became the National Cattlemen's Beef Association back in the mid 1990s.
Drake says that he understands that the job of OFB President is pretty well a full time position- is very proud of how well regarded the general farm organization is throughout the state of Oklahoma. He tells us that he is also proud that OFB has been able to work so well the last couple of years with other agricultural groups in accomplishing a lot of positive things for rural Oklahoma at the state Capitol. He also feels strongly that the strength of the organization can be traced back to the strong and local insurance company that is a integral part of who Farm Bureau is.
Drake says that he would emphasize and encourage the efforts of the
Young Farmers and Ranchers Committee if elected as President, as well as
the job done by the Farm Bureau Women's Committee.
US Wheat Associates Jawboning with the Canadian Wheat Board- Which is better- the Single Desk or the Open Market???
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The Canadian Wheat Board is very proud of their "Single Desk" system of marketing wheat, claiming it provides higher returns to their farmers. U.S. Wheat Associates, who helps to market US Wheat in the global market, claims that the Canadians are full of it- saying in their regular E-mail publication, the Wheat Letter that "The CWB chooses to ignore highly credible economic studies that prove exactly the opposite, that Canadian growers receive less per ton, on average, than their similarly situated U.S. counterparts who grow essentially the same class of wheat."
US Wheat also believes "The monopolies do not benefit from the
discipline of competition and even good management cannot make them
efficient grain handlers. Despite their claims to the contrary, the
equivalent CWB Pool has consistently returned significantly lower prices
to Canadian farmers when compared to the returns generated by U.S. open
market prices over several crop years. For example, when the final CWB
Pool Return for its flagship Number 1 CWRS 13.5 protein at Vancouver,
British Columbia, is compared to the standard U.S. Number 2 NS/DNS 14
protein wheat export class at Portland, Ore., on average, the U.S. HRS
open market price has returned more than US$13.00 per MT over the annual
final CWB Pool return in each of the past three full crop years. The
difference to date in the current crop year is far bigger than the
"Why is the open market more efficient? From the market price achieved
at the U.S. export point, U.S. producers pay no automatic deductions for
excessive grain handling, marketing or administration fees or overhead
charges. The grain trade and handling industry - both in-country and at
export - must earn its money from the market place by profitably buying,
selling, handling and positioning physical wheat as well as by using
hedging tools to manage market risks. U.S. grain handlers must be prepared
to buy each and every day from producers even when there are no buyers,
and sell each and every day to customers even when producers are unwilling
to sell. Also, U.S. exporters cannot arbitrarily sell a producer's wheat
below market prices in one targeted market without losing the money
themselves. They cannot pass an administrative decision loss back to a
pool of producers who may not collectively realize the money is missing
until it's all over but the shouting.
Beef Buzzing with Dr. Jake Nelson of OSU
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The second largest beef recall in US history has shaken the cattle market up, has forced the company involved, Topps, to shut their doors and has caused USDA to announce they will change the timing on how quickly they will issue recalls in the future. Today and tomorrow on the Beef Buzz, we welcome Dr. Jake Nelson of OSU's Robert Kerr Food and Ag Products Center to help us sort through the real story of how the industry has dealt with E-Coli since the tragic Jack-in- the Box case of the early 1990s.
Today, we look at this particular case and how the fact that it being frozen beef has multiplied the amount of beef involved in this beef recall. Jake joins us for the Tuesday Beef Buzz- heard on great radio stations around the state that are a part of the Radio Oklahoma Network- as well as to be found on our website on our Beef Buzz page at WWW.OklahomaFarmReport.Com.
We also have the program with Jake linked for you to take a listen to by clicking below.
If You Buy Those Cattle Right- You Can Make Money!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~If you are losing sleep over the ups and downs of the cattle market, you may want to think about the Bud Williams Cattle Marketing School that will be taught by our friend Ann Barnhardt. Ann says that if "you are tired of breaking even on cattle - and feeling fortunate to have done so- and if you are you ready to control your own destiny in the cattle markets and be CONSISTENTLY PROFITABLE- then you are ready for the Bud Williams Livestock Marketing School at the Tulsa Airport Holiday Inn on November 9th and 10th.
Ann tells us that the real key is what you pay for the cattle you buy-
that if you buy cattle for too much money- it's like hoping a lottery
ticket will pay for your retirement. And she adds there are quite a number
of things she will be teaching those in attendance on the 9th and 10th of
November- some of the concepts covered at Bud Williams Marketing Schools
Ann says space is limited to 50 and a sell-out is expected, so call 1-8777994577 toll free or go their website for the Bud Williams Marketing School, which is linked below.
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