The Department of Agriculture expects a larger corn and a record soybean harvest in the most recent round of monthly reports. USDA forged against expectations and raised corn production to an estimated 14.1 billion bushels and soybeans to a record 4.4 billion bushels. 

USDA is forecasting the average corn yield at 169.0 bushels per acre, and the soybean yield at 49.9 bushels per acre. Production for the 2017-18 corn crop increased 31 million bushels from the August projection, but still six percent lower than the 2016-17 crop. Yield is expected to be lower, but overall crop projections by USDA put the crop at third-largest on record. The projected range for the season-average corn price received by producers was lowered 10 cents on both ends to a range of $2.80 to $3.60 per bushel. 

The farm price for soybeans was also lowered 10 cents a bushel to an average of $9.20. As for cotton, USDA estimated larger production, exports, and ending stocks relative to last month. However, USDA says those projections came before Hurricane Harvey, adding the agency will go back to collect harvested acres for cotton for Texas and Louisiana for the October Crop Production report.

For corn, Feed and residual use for 2017/18 was raised by 25 million bushels from last month's report, due to the larger crop estimate and lower projected prices, but this was offset by a 25 million bushel decrease to projected ethanol use resulting from lowered export expectations. A 50 million-bushel decrease to other industrial demand estimates drove total usage down further.

"From growing our export markets through trade agreements to supporting the ethanol and livestock industries, whether it be by protecting the Renewable Fuel Standard in Washington or building demand for higher blends around the country, NCGA continues working tirelessly on behalf of America's farmers to build a sustainable, thriving future for both their farms and their families,: said Wesley Spurlock, president of the National Corn Growers Association said in a statement reacting to the reports.

You can read Spurlock's entire statement on behalf of the corn industry in the release from NCGA yesterday, and view both of USDA's reports, up on our website, by clicking here.

The number that jumped out at us as we reviewed the Oklahoma numbers found in the Tuesday September Crop Production Report was easily the Cotton Crop- we knew that acreage was way up- the August Crop Producton report was calling for 450,000 harvested acres this year- the report just released has found another 100,000 acres that USDA says will be harvested- WOW! Add to that- they have upped expected yield per acre to 848 pounds of lint, up 80 pounds from August- and presto, chango- you get 980,000 bales of cotton as the prediction for the 2017 Oklahoma Cotton Crop!!!!

From the September report- "Oklahoma Upland Cotton production totaled 980 thousand bales, 59 percent higher than 2016. Yield averaged 848 pounds per acre, compared with 1,021 pounds last year. Acreage harvested, at 555 thousand acres, is up 91 percent from last year."

The other crop that shows significant increases this year- Peanuts.  We only grow peanuts if you have a contract- and all Oklahoma peanuts in recent years have been grown with at least some level of irrigation. In 2017- we added 6,000 acres- yields at this point are being predicted to be 200 pounds per acre less than a year ago at 3600 pounds- but the acreage increase gets us a 38% increase in production to 68.4 million pounds. 

Back to cotton- where did those acres come from?  A lot of them came from wheat and some came from grain sorghum- as farmers feared the Sugar Cane Aphid and saw a better chance for profit with cotton- for Grain Sorghum, that translates into a drop of 80,000 acres expected to be harvested this year and with a 46 bushel per acre yield- the total production is expected to drop 35% to 13.34 million bushels this season.

Soybean production in Oklahoma did add 60,000 acres this year versus last- we have 530,000 acres of soybeans being grown this season- USDA says we will have a 27 bushel per acre crop and a five percent bump up in total production versus 2016 at 14.31 million bushels. 

Oklahoma and Texas numbers are summarized in a regional report from NASS- click here to check that report out as released yesterday from USDA.

The US meat Export Federation released its latest beef export numbers, and they are showing very strong results for the middle of the year. Extension Livestock Market Economist Dr. Glynn Tonsor says thank goodness for that fact. He told me that this strength in the market has contributed significantly in propping up domestic cash cattle prices.


"There's no doubt that exports have been - I won't say a savior, but the strongest part of this story throughout 2017," Tonsor remarked. "The July beef exports were up, an aggregate for beef, 5 percent compared to the prior year and that's on volume."


When you take a look at value, though which he says is much more important in this case, US exports are up 18 percent from the prior year - the highest since December 2014. Tonsor uses Japan as an example to illustrate just how strong markets around the world are this year for the US beef industry.


"Volume to Japan is up 20 percent compared to the prior year and the value is up over a third, 36 percent up, for a total value $176 million value went to Japan in July alone," he reported, noting it to be the largest amount since 1996. "I highlight that, not just because I'm trying to call attention to Japan, but more generally, there's several very successful markets. We need to recognize that export growth is a big reason that we don't have lower prices than we've already had."


Listen to Dr. Glynn Tonsor and I discuss the strength of US beef exports and how it has influenced the entire cattle industry during 2017, on yesterday's Beef Buzz - click here.

If you'd like to see USMEF's report on July export volumes and values, including the figures for both beef and pork, click here.

Near the beginning of the month, Extension Cotton Specialist Randy Boman, reported in that week's Cotton Comments newsletter, that August had turned colder than normal this year. This caused less heat units to accumulate leaving cotton in Oklahoma behind the growth curve, in need of additional heat units to properly mature. At the time, Boman wrote that he hoped September temperatures would be closer to normal and help get this year's cotton crop back on track.

Unfortunately, in this week's edition of Cotton Comments, Boman reports that thus far into September, we are still lacking the necessary heat units to finish out the crop.

However, statistical data compiled over 30 years suggests that there is perhaps still time for the accumulation to catch up to where it needs to be.

"Generally speaking," Boman writes, "we can still have fairly good maturity in cotton crops with the lower yields typically encountered in dryland production when the heat units total out to 2000 or so. If really high yields are present, or if late set bolls are a large fraction of the total production, this may be inadequate for good boll maturity."

For now, though, it appears that dryland cotton planted as late as June 20th around Altus that has up to 2 bale/acre potential may still be okay, assuming a "normal" September and October transpires. 


Farther North, if September and October fail to deliver outstanding maturity temperatures, some high yielding dryland fields may have a challenge to mature. But, it appears that irrigated fields which were planted before the end of May are probably going to finish okay.

Still, he cautions that a lot of things can impact cotton maturity besides just heat units.

For more information regarding the need for additional heat units, you can click here to continue reading about it and other issues pertaining to this year's cotton crop, in this week's edition of the Cotton Comments newsletter.

The cooperative agribusiness bank, CoBank, announced this week that it would commit more than $350,000 dollars from its coffers to assist in the relief efforts benefiting victims of Hurricane Harvey in Southeast Texas and citizens of Florida affected by Hurricane Irma.

CoBank proudly announced that its contributions are being made in partnership with customers, CoBank employees and other Farm Credit institutions. The gift will go to support a number of organizations involved in the humanitarian response to the hurricanes.

A major portion of the donation has been earmarked for the Red Cross. In total, $230,000 will be given to this charity, however, an initial $200,000 was immediately disbursed to assist in urgent needs for food, water and shelter in hurricane-ravaged areas. CoBank has also committed to match employee contributions to the Red Cross on a dollar-for-dollar basis, which has generated an additional $30,000 in corporate support.

The rest of the money has been divided among three other charities including the Texas Farm Bureau Foundation, the Texas Electric Cooperatives Harvey Disaster Relief Fund and the Farm Credit System Employee Relief Fund - with contributions of $25,000; $50,000 and $50,000 made respectively.

Read more about CoBank's efforts to assist those affected by the recent hurricanes in Texas and Florida, by clicking over to our website.

Coming up this Thursday and Friday, it's Superior Livestock's Labor Day XXXVIII Sale, being broadcast live on Dish Network, Channel 232 and Superior Click to Bid from Superior's Office and Studio in the Historic Fort Worth Stockyards.

Fifty-thousand head of cattle will be offered during this two-day event, beginning Thursday morning at 7:30 a.m. with Superior Sunrise and at 8:30 on Friday morning.

Sale catalogs are available on their website. You can also request more information on the website on specific lots you're interested in and find out approximately what times they might sell. Click here to visit our calendar page with additional information including a line up for the auction and links to Superior's website and sale catalogs. 

**********

NOW- for something completely different- Yours Truly will be attending his first meeting of the American Pecan Board as an Alternate Board Member.  

About a year ago- some folks in the Oklahoma Pecan industry asked if I would be willing to serve as a Board Member on the national checkoff body for the Pecan industry- they have a board position that is an "outsider" position that gives them a perspective of someone from the outside looking in at their efforts to build demand for Pecans.

The Pecan checkoff is new- the Board is still getting up to speed- they are just now establishing a national office in the Ft Worth area and bottom line- it sounded like something worth doing- so I said yes.  I was not chosen as the actual Board Member- but was chosen as the Alternate so I have participated in several telephone Conference Call meetings- have actually been "seated" a couple of times- and today- I get to meet all these folks from across the country I have heard on the phone and learn a lot more first hand about how pecans are going to be promoted nationally in the days ahead.

The meeting is in Ardmore at the Noble Research Institute- if there is no heart burn from those involved- I will tweet and Facebook some from the meeting and share what is happening with you!

**********

Finally- good news from the Senate Ag Committee- Senator Roberts announcing a hearing for next Tuesday to consider the nomination of former soybean executive Stephen Censky to be the number two man at USDA (Deputy) and for Ted McKinney to be Under Secretary of Ag for Trade and Foreign Ag Affairs.

Sonny Perdue has been the only person at USDA that was appointed by President Trump and approved by the Senate to this point- hopefully help is coming in a couple of more weeks.  

Neither of these nominees have drawn any significant criticism.