The Most Significant Rain Event in a Year Rolls Across Oklahoma  

As we write this early Tuesday morning, the great majority of Oklahoma has received substantially more than a inch of rain- extreme amounts are over five inches of rain in Canadian County and in southern Oklahoma near Ardmore, Madill and Sulphur.  

Being left out is much of the Panhandle, with Kenton's Mesonet station only showing .12 of an inch as of 5:30 this morning- while the stations down in McCurtain County have a few hundredths of an inch of rain.

There has been severe weather as well- tornadoes sprung up in southwestern Oklahoma- our friends at News9 got spectacular footage of the twisters rolling through the Wichita Mountains- click here to take a look. Other locations had hail- and there was more shaking during a thunderstorm as central Oklahoma had yet another earthquake measuring 4.7 was felt about 8:45 pm. Folks on Twitter were joking- wondering what the Emergency recommendations would be from Uncle Sam when a tornado is bearing down on you as you have an earthquake-    

The constantly updated rainfall totals for this storm for the state can be checked by clicking here- these totals come from all rainfall from the last 72 hours.  

Oklahoma Crop Weather Update - Row Crop Harvesting Picking Up

The latest Oklahoma Crop Weather Update says row crop harvesting is gaining momentum saying- " Additional rainfall last week kept crop progress for wheat, rye, oats and canola on track. Although the state continued experiencing severe drought conditions, the recent rains have reduced the percent of the state under exceptional drought conditions. The November 1 U.S. Drought Monitor reported 42 percent of the state remaining under exceptional drought conditions, down from 55 percent reported on October 25th and 64 percent on August 2nd.  

When it comes to fall-planted crops- "With most of the fall crops planted and emerged, temperatures and precipitation are in control for the 2011-2012 season. Conditions for wheat, rye, and canola continued to be rated mostly good to fair. Wheat planting reached 95 percent complete, up five points from the previous week, with 81 percent emerged. Canola emerged reached 92 percent, up six points from last year.  

Harvest activity increased for all crops from the week before. Sorghum, soybeans, and peanuts remained behind the five-year average and cotton harvest was on track with the five-year average. Sorghum coloring was 96 percent complete by the end of the week. Eighty-eight percent of sorghum had matured, and 52 percent was harvested by Sunday, five points behind normal. Soybeans mature reached 85 percent complete by Sunday, and 56 percent of soybeans had been harvested, four points behind normal. Ninety-five percent of peanuts had matured by week's end, and 80 percent were dug, nine points behind the five-year average. Sixty-two percent of the peanuts had been combined by week's end, 11 points behind the average. Cotton plants opening bolls reached 95 percent complete and 44 percent of cotton had been harvested by week's end."

With this year's hay season coming to an end, hay continued to be in short supply. Third cuttings of alfalfa were 72 percent complete, and 18 percent of the state had completed a fourth cutting, compared to a five-year average of 100 percent. A second cutting of other hay was 58 percent complete by Sunday, 30 points behind normal.

Click here for the complete Crop Weather Update as of Monday, November 7, 2011.  

Oklahoma Increases Visibility in International Pork Market and Exports Continue to Rise

Pork exports for the U.S. have had a tremendous amount of growth over the past year. With pork exports up about 18% for the 2011 year since 2010, Roy Lee Lindsey with the Oklahoma Pork Council says this year was even better for pork exports than last, which was still an exceptional year.

The month of August came in with pork exports up 43% over August of 2010, which Lindsey says is an almost unheard of number with only one other month in history where exports increased more. Lindsey adds that almost 20-21% of all the pork that is produced in the U.S. is exported.

Lindsey says the access to these international markets is really what is helping to hold the price that producers are being paid at a steady price. Also, Lindsey adds that where we are at production costs is that the domestic demand has gone down slightly in August and September, while the worldwide demand for pork has continued to increase.

Click here to listen to our conversation with Roy Lee Lindsey.  

Recent Rainfalls Play Different Roles for Wheat and for Cattle

Much of Oklahoma has received significant rain in the past couple of weeks and more is expected this week. According to Dr. Derrell Peel, Oklahoma State University Extension Livestock Marketing Specialist, the rain has improved everyone's mood and any rain anytime is appreciated at this point. However, the real value of the rain in the short run depends on who and where you are.   

From a wheat crop perspective, the rains are very beneficial and have improved crop conditions. Last week, the percent of wheat emerged had nearly caught up to the average for the date and only 15 percent of the crop was rated in poor or very poor condition.

It does appear that some wheat will be available for grazing and some will be grazed despite being smaller than optimal because of the desperate need for feed. Most of the wheat will be used for cows and perhaps replacement heifers rather than for stockers, especially purchased stockers. 

Click here for more from Dr. Derrell Peel on these recent rainfalls.  

Biodiesel Industry Pleased with Supreme Court Decision on Renewable Fuels Standard

The National Biodiesel Board, the U.S. trade association representing the biodiesel industry, released the following statement Monday after the U.S. Supreme Court announced that it has rejected a petition from the National Petrochemical and Refiners Association and the American Petroleum Institute challenging the EPA's Renewable Fuels Standard.

"The RFS program is working just as Congress intended. It's creating jobs across the country. It's breaking our addiction to oil. It's helping clean our air, and it's reducing greenhouse gases," said Anne Steckel, NBB's vice president of federal affairs.

"This year alone, the biodiesel industry is on pace to produce at least 800 million gallons of advanced biofuel while supporting more than 31,000 jobs. We're pleased to see the Supreme Court put an end to this litigation as we continue building a strong U.S. biodiesel industry." 

Click here for more from the National Biodiesel Board on the RFS.

Southern Soybean Farmers Gain Weed Management Options with Roundup Ready Plus

Soybean farmers in the South will have more choices for managing weeds and earning financial incentives under the 2012 Roundup Ready PLUS® Weed Management Solutions platform, Monsanto Company announced. Valent's Cobra and Phoenix and Syngenta AG's Flexstar herbicides will provide additional post-emergence weed control and can earn farmers $3/acre, $3/acre and $2/acre, respectively.

The Roundup Ready PLUS platform serves as a resource for recommendations on weed management in Roundup Ready crops backed by third-party endorsements, and offers incentives to farmers for using multiple modes of action in their weed control systems. Soybean farmers can receive up to $10 per acre in incentives under the 2012 platform. 

"Roundup Ready PLUS continues to improve based on academic recommendations and farmer experience," said Chris Reat, Roundup Marketing Manager. 

Click here for more on Roundup Ready Plus.

Farmers Have Consistently Produced Themselves out of Prosperity - What About This Time?

Dr. Darryl Ray with the University of Tennessee released the following opinion editorial article concerning the possibility of over-production in agriculture. Dr. Ray was formerly a professor at Oklahoma State University in the Agricultural Economics Department. The following is his article.

"In reading Jerry Hagstrom's report on a 3-day conference, Agriculture Investment Summit for the Americas, we were struck by the witty insight of Jason Henderson when he said, "I have never met a farmer who is unwilling to produce himself out of prosperity."

In that one sentence, Henderson, executive vice president of the Omaha branch of the Federal Reserve Bank of Kansas City, summed up what agricultural economists have long known. Historically, the production of agricultural crops, sooner or later, outruns demand, resulting in multi-year periods of low prices. The same is true in the shorter-run for livestock, although producers there adjust production much more quickly than crop producers resulting what have historically been hog and cattle cycles."

Click here for the rest of Dr. Ray's article on prosperity.