~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Wednesday December 2, 2009A service of Johnston Enterprises, P & K Equipment/ P & K Wind Energy and American Farmers & Ranchers Mutual Insurance Company!
-- EPA Punts E15 Decision into 2010
-- Death Tax Vote May Be Coming Thursday in US House
-- Frank Lucas Continues to Pound the Podium Over Cap and Trade
-- Wheat Futures Trade Volume in Kansas City Robust in November
-- Chesapeake Back as a Major Sponsor for OACD in 2010
-- Class 14 of the Oklahoma Ag Leadership Program Starting to Wind Down
-- Nunley Angus Production Sale Coming This Saturday in Marlow
-- 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 pleased to have American Farmers & Ranchers Mutual Insurance Company as a regular sponsor of our daily update- click here to go to their AFR web site to learn more about their efforts to serve rural America!
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EPA Punts E15 Decision into 2010
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~You might call it a glass "half full" or one "half empty" depending on how you want to spin the letter that went out from the EPA to Growth Energy yesterday morning saying that while the tests up to this point suggest that E15 will work in US automobiles. E15 stands for a 15% blend of ethanol with conventional gasoline.
"This announcement is a strong signal that we are preparing to move to
E15, a measure that will create 136,000 new U.S. jobs, cut greenhouse gas
emissions and lessen America's dependence on imported oil," said Gen.
Wesley Clark, Co-Chairman of Growth Energy.
Less pleased with the delay offered by EPA is the Renewable Fuels
Association. Bob Dinneen offered this statement: "This delay threatens to
paralyze the continued evolution of America's ethanol industry. As EPA
itself indicated, the scientific data to date has demonstrated no
ill-effects of increased ethanol use in any vehicle currently on the road.
Moreover, this delay will chill investment in advanced biofuel
technologies at a critical time in their development and
Click on the link below for more on this announcement- which means that we won't see any further response from the EPA on this issue until June of next year, if then.
Death Tax Vote May Be Coming Thursday in US House
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~On Thursday the House of Representatives will vote on legislation introduced by Congressman Earl Pomeroy to establish what he calls - long term clarity on estate tax. H.R. 4154, the Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009 would permanently extend the 2009 estate tax exemption amount and tax rate. For calendar year 2009, the estate tax exemption amount is 3.5-million single, 7-million married, and the maximum tax rate on estates is 45%.
Congressman Pomeroy says that this bill will provide full and permanent estate tax relief for 99.75 percent of families, farmers, and small businesses in this country, meaning they would not have to pay any estate tax. By making the 2009 estate tax level permanent, this bill, Pomeroy says, "provides the stability families need to make long-term decisions and avoid the estate planning roller coaster that will result from current law."
Absent this change, the estate tax is scheduled to enter one year of
full repeal in 2010 followed by a return of the estate tax in 2011 with a
much lower exemption amount, 1-million, and a much higher maximum tax rate
Frank Lucas Continues to Pound the Podium Over Cap and Trade
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Fairly soon after he took on the role of the Ranking member of the House Ag Committee, Congressman Frank Lucas began issuing a weekly "Ag Minute" designed as a short editorial from the lawmaker on various subjects. This week during his "Ag Minute" Ranking Member Frank Lucas highlights how cap and tax legislation jeopardizes our safe, abundant, and affordable food and fiber supply.
Lucas praises farmers and ranchers for producing a safe and abundant food supply, but then says "cap and tax legislation threatens that safe, abundant and affordable food and fiber supply. The agriculture industry, as we know it, will not survive under the heavy burdens of a cap and tax policy. This week the Agriculture Subcommittee on Conservation, Credit, Energy, and Research will hold two important hearings to learn more about the economic impact of climate change legislation. Witnesses are expected to highlight and discuss various studies that have been completed on the costs of cap and trade on the agriculture industry."
The Congressman from Roger Mills County concludes his comments by
saying "the agriculture industry and rural America cannot afford the
devastating economic effects of cap and tax."
Wheat Futures Trade Volume in Kansas City Robust in November
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Kansas City Board of Trade's Hard Red Winter Wheat futures trading volume during the month of November was the third largest ever for the calendar month.
HRW wheat futures trading volume for the month of November totaled 400,930 contracts, which was an increase of 44.9 percent compared to November 2008 and 9.1 percent when compared to last month. Only two other Novembers posted larger volume: 441,194 contracts in 2005 and 408,832 contracts in 2007.
Open interest continued to swell in HRW wheat futures during the month of November. Wheat futures open interest of 135,164 contracts was an increase of 6.8 percent over the past month and was 70.2 percent higher than at the end of November 2008.
KCBT traders noted that the increase in trading volume was largely due to weather delays in corn and soybean harvest, which were leading to postponements in winter wheat planting in some areas. Also, as the U.S. Dollar declined, new investment money was moving into commodity markets.
Chesapeake Back as a Major Sponsor for OACD in 2010
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~As part of their continuing commitment to Oklahoma and the health of its environment, Chesapeake Energy Corporation and the Oklahoma Association of Conservation Districts (OACD) have once again teamed up today to announce the "Chesapeake Energy Outstanding Oklahoma Conservation Educator Contest," a statewide program that honors the Oklahoma school teachers who most effectively incorporate natural resource conservation learning into their class curriculum. The Chesapeake Outstanding Conservation Educator Award will be presented to one teacher in each Oklahoma Congressional District. Each winner will receive $2000 at the Governor's Conservation Awards Ceremony during Conservation Day at the Capitol next spring.
"We are truly honored to again have Chesapeake, Oklahoma's most active driller and largest clean natural gas producer, as our partner in furthering conservation in Oklahoma," Trey Lam, President of OACD said. "The company's continued sponsorship of these awards and its commitment to protecting and conserving our natural resources is greatly appreciated. They are truly committed to the conservation and protection of our soil, water, air and wildlife habitats." The Chesapeake Outstanding Conservation Educator Award will be presented annually to the Oklahoma school teachers judged as having best incorporated information on the conservation of our natural resources into their lesson plans using inventive and imaginative techniques.
"It's an honor for Chesapeake to partner again with the Oklahoma Association of Conservation Districts to recognize the outstanding conservation educators in Oklahoma," said Teresa Rose, Chesapeake Director of Community Relations. "Chesapeake is committed to being a leader in a wide variety of areas including the protection of Oklahoma's environment and bountiful natural resources. Chesapeake's commitment to environmental education is one we take very seriously and we believe environmental education is essential to ensure future Oklahoma leaders have the knowledge base to make wise environmental decisions.
The official rules for this contest and additional information are available by contacting your local conservation district office or by contacting Clay Pope, Executive Director of the Oklahoma Association of Conservation Districts, at (405) 699-2087 or email@example.com. The deadline for the contest is February 1, 2010.
Class 14 of the Oklahoma Ag Leadership Program Starting to Wind Down
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Class XIV meets in Stillwater today through Friday for their twelfth and final domestic seminar. Wednesday activities and speakers will focus on Community development and leadership. Wednesday's session will be held jointly with fourteen Oklahoma Cooperative Extension Service educators attending OCES in-service training. OALP participants will learn about leadership and community development resources available through OCES.
Several OALP graduate return to Oklahoma rural communities to assume major community and county leadership roles in addition to agricultural leadership roles. Dr. Joe Williams, Director of the Program, tells us that two Class X graduates are currently serving as mayor of their respective communities. The idea of the Oklahoma Ag Leadership Program is to identify young leaders in rural area in production agriculture and in agribusiness (as well as in a government position serving rural Oklahoma) and get them prepared to step up and be leaders that make a difference at the local, regional, statewide and even national level.
Thursday and Friday activities focus on preparation for the
international experience in February and March, 2010. The class travels to
Spain and Morocco at that time, to study agriculture in an international
Nunley Angus Production Sale Coming This Saturday in Marlow
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The Nunley Angus Farm First Production Sale is scheduled for 12 noon, Saturday, December 5, 2009 at the farm in Marlow, OK. The sale will be in their new sale facility just outside of Marlow- From Highway 81 in Marlow, go 3/4 mile west on Ball Park Road.
The Nunley family will be selling 195 head- including Registered Angus Service-age Bulls, Registered Angus Females- Cow/Calf Pairs, Open Heifers, Bred Cows & Heifers. There will also be a set of Commercial Open Heifers that are a part of the offering.
In their catalog- which can be accessed by clicking on the link below- owner Bill Nunley says they are on land that has been in their family since 1907- at the time of statehood. He adds this note about the cattle that will be offered "We have tried to breed cattle that are appropriate for different situations; nevertheless, you, the customer, will decide that."
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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 $8.30 per bushel, while the 2010 New Crop contracts for Canola are now available are $8.55 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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