Oklahoma Wheat Forecast Up Three Percent From May 

The Oklahoma winter wheat production is forecast at 159.1 million bushels, up 3 percent from last month's estimate, and 126 percent above last year, according to the June Crop Production report issued today by the USDA-NASS Oklahoma Field Office. Acres harvested for grain, at 4.3 million acres, are up 1.1 million acres from last year. Average yield is forecast at 37.0 bushels per acre, up 1.0 bushel from the previous month's forecast, and 15 bushels above 2011.

The United States winter wheat production is forecast at 1.68 billion bushels, up 13 percent from 2011. The area expected to be harvested for grain or seed totals 35.6 million acres, up 10 percent from last year. Based on June 1 conditions, the yield is forecast at 47.3 bushels per acre, up 1.1 bushels from last year.

Selected states and their winter wheat production compared with 2011 include Kansas, 387.0 million bushels, up 40 percent; Texas, 103.9 million bushels, up 110 percent; and Colorado, 87.6 million bushels, up 13 percent.

The entire Oklahoma report can be viewed online by clicking here and looking under "Recent Reports." The national database, Quick Stats, and all USDA-NASS reports are available on the agency's web site by clicking here.
 

USDA Supply and Demand Report Released, Projections Mixed 

The USDA Supply and Demand report was released this morning showing the old crop ending stocks in the corn unchanged from last month and the soybeans lower than last month and the pre-report estimates. The wheat also came in lower than last month and the pre-report estimates.

As far as the new crop, corn came in higher than what the trade was looking for, with soybeans and wheat both lower than expected. The wheat production numbers for all wheat came in higher than expected and could be price bearish.

In the World Stocks numbers, the wheat came in lower, corn higher and the soybeans unchanged.

Click the following link for the USDA report - USDA World Supply and Demand.

You can hear Tom Leffler of Leffler Commodities talk about the latest USDA numbers by clicking here.

Hundreds of Organizations Ask Congress to 'Hold the Line' on Conservation Programs in the Farm Bill

More than 500 organizations, businesses and individuals signed a letter asking congressional leaders not to further cut funding to the Conservation Title of the Farm Bill. Noting that conservation programs already have been significantly cut in recent years and will bear more than their fair share of deficit reduction in the Farm Bill as currently drafted, the letter asks Congress to "hold the line" on conservation funding at the amounts provided in the bill approved by the Senate Agriculture Committee.

The 523 signatories comprise large and small organizations, businesses and landowners from all across America, collectively representing tens of millions of Americans.

The letter notes that conservation programs are essential to the sustainability of agriculture and forestry in the United States and to meeting the growing demand for food and fiber at home and abroad. These programs are "high-leverage investments in rural America," protecting natural resources by funding a variety of voluntary partnerships and cooperative conservation efforts between the U.S. Department of Agriculture and private landowners.

Click here for more, including a link to the original letter and all its signatories.

Stabenow Says Report on Rural Economy Further Illustrates Need for Swift Farm Bill Passage

Senator Debbie Stabenow, Chairwoman of the U.S. Senate Committee on Agriculture, Nutrition and Forestry, said that a new report showing that America's rural economy is helping to drive the country's economic recovery further illustrates the need to pass a Farm Bill before the current bill expires, to give farmers and other small businesses the certainty they need to create jobs. Stabenow's remarks come following the release of a report by the White House on the agricultural economy.

"American agriculture represents a bright spot in our economy," she said. "Agricultural exports are reaching record highs and American farmers and ranchers are continuing to outpace the rest of the world in productivity and efficiency. Sixteen million American jobs are supported by American agriculture, so it's critical we pass the Farm Bill this year. We must provide farmers and small businesses the certainty they need to continue growing and helping the country's economy recover."

The administration's report, Strengthening Rural Communities: Lessons From a Growing Farm Economy, can be accessed by clicking here.
 

Moderation in Cow Size is the Key to Profitability, Lalman Says

In the third part of a four-part Beef Buzz series, Dr. Dave Lalman continues to talk efficiency. In this portion of his address at the recent Alltech International Symposium on the Future of Agriculture held in Lexington, Kentucky, Lalman talks about cow size. Is bigger better? Are larger cows more efficient?

Unequivocally, Lalman says "No." He says larger cows do produced larger calves at weaning, but the question is how much does that extra weight cost?

"There is a positive relationship with cow weight, but it's not very strong. For each additional 100 pounds of cow weight, we get an average of six pounds of additional calf weaning weight. Is that a good trade off?"

Lalman cited studies which show that for each additional 100 pounds of cow weight, the increased weight of calves at weaning was between four and six pounds. Unfortunately, he said, the additional dollars realized in the calf weight is more than offset by the additional $42 per year it costs to feed and maintain the extra 100 pounds on the mama cow.

Click here for the full BEEF BUZZ with Dr. Dave Lalman.

Permanent Normal Trade Relations for Russia Legislation Introduced

The American Farm Bureau Federation applauds the introduction of legislation to establish Permanent Normal Trade Relations with Russia. Senator Max Baucus (D-Mont.), along with Senators John Thune (R-S.D.), John Kerry (D-Mass.) and John McCain (R-Ariz.), unveiled legislation that will allow U.S. agriculture to participate in Russia's upcoming World Trade Organization membership.

"Russia PNTR is a critical step towards ensuring the U.S. benefits from Russia's accession to the WTO and remains competitive in that market," said AFBF President Bob Stallman. "U.S. farmers will have more certain and predictable market access as a result of Russia's commitment not to raise tariffs on any products above the negotiated rates and to apply international food safety standards in a uniform and transparent manner."

Long negotiations on Russia joining the WTO resulted in the country being able to enact many trade-related reforms. Russia is expected to complete the adoption of the measures and formally join the WTO this summer. PNTR for Russia must be enacted by Congress in order to guarantee U.S. access to the market opening and legal aspects that are part of the Russia WTO agreement. Russia's membership in the WTO will provide significant commercial opportunities for U.S. agriculture.

Farm Bureau urges the Senate to support the extension of PNTR to Russia.
 

This N That- Wheat Jumps Back to Billion Dollar Level in 2012- Central Oklahoma Corn Could Be Great in the NBA- and Stabenow Offers Late Statement on Farm Bill Process

We got an email from our friend and sometimes partner in crime Dr. Kim Anderson- Grain Marketing Guru for Oklahoma State University- Kim has pulled out his slide rule and solar powered calculator- and offers these thoughts about the value of the 159 million bushel wheat crop in Oklahoma as pegged by USDA on Tuesday morning- "With 159.1 million bushels, an average price of $6.30 would result in the second One Billion Dollar Oklahoma wheat crop. Since canola is a rotation crop with wheat, one could add canola income to wheat. I do not know Oklahoma canola production but assume 130,000 acres planted, 90% harvested, average yield of 1,600 pounds per acre and $24/cwt price. This would be $45 million. So, even if the 2012/13 average Oklahoma price is $6, wheat plus canola will be over $1 billion."

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Another email that came in yesterday was from Larry ZumMallen in Canadian County(Central Oklahoma)- and has a picture of some awesome looking corn- Larry's comments?- "The  corn we planted back in April is now over 7 foot tall. One more rain and it will really fill out nicely."  You know in basketball- they say you can't teach size- so seven footers are always of interest to basketball junkies- and with the Thunder storm that is happening in OKC- we all are interested in basketball- but I digress- the earliness of everything this year continues to amaze- and our early spring planted crops are another example. Click here to see the picture that Larry sent us on Tuesday.

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Finally- late word came from Senate Ag Committee Chairlady Debbie Stabenow that the Senate will be debating the Farm Bill on the floor today- at least some of the many, many amendments that have been trotted out- click here for a Chris Clayton story on that from DTN-

Chairlady Stabenow says in a statement from her office on Tuesday evening- "I am pleased that debate will begin in earnest on the Senate floor tomorrow. Considering two amendments on major policy issues allows the process to move forward while leaders continue to work on an agreement on the full slate of amendments that will come up for a vote.

"Up to this point our work on the Farm Bill has been a glimmer of bipartisanship that is unfortunately all-too-rare in Congress today. With more than 16 million agriculture jobs hanging in the balance, it is critical that we keep moving forward and pass a Farm Bill that gives American farmers and ranchers the certainty they need to continue growing the economy."