Planted Acres of Soybeans Hits Record High - Corn Acres Drop Four Percent From 2013   

The US Department of Agriculture released a pair of market moving reports on Monday morning, with the Spring Acreage report clearly the headliner of the two, estimating that US farmers have planted a record number of soybean acres in 2014. USDA projected 84.8 million acres of soybeans have been planted in 2014, above the upper end of trade guesses. USDA said in the report that acres were "up 11 percent from last year. Area for harvest, at 84.1 million acres, is up 11 percent from 2013 and will be a record high by more than 7.4 million acres, if realized. Record high planted acreage is estimated in Michigan, Minnesota, Nebraska, New York, North Dakota, Ohio, Pennsylvania, South Dakota, and Wisconsin."


The report also suggested that planting delays forced many acres from corn over to soybeans, with the final corn planting estimate of 91.6 million acres in line with what the pre report guesses were expecting. Regarding corn planting, USDA says "This represents the lowest planted acreage in the United States since 2010; however, this is the fifth largest corn acreage in the United States since 1944." The 2014 estimate was down four percent from last year's plantings.
Click Here for more details on the acreage and stocks report.


Following the close of the markets Monday afternoon, Tom Leffler of Leffler Commodities told the Radio Oklahoma Network that the soybean acreage estimate took traders by surprise as that number was more than 2.7 million higher than the highest trade estimate.


"This is 8.3 million acres than we planted last year, so that was a much, much more negative number than anyone was looking for," Leffler said.


The biggest soybean acreage increases were found in North Dakota, Minnesota, Nebraska and Iowa, Kansas and Illinois.  Click Here for More Analysis from Tom Leffler, as he talks with Leslie Smith about the Acreage Report as well as about the Quarterly Grain Stocks Report.


Click here for the National Spring Crops Acreage Report.  

USDA Says Fewer Corn Acres- More Acres of Grain Sorghum Planted in Oklahoma in 2014 

 Oklahoma crop producers cut back on corn plantings and appeared to switch those acres over to grain sorghum, according to the June 30th Acreage report released by USDA on Monday morning. Farmers in the state cut corn plantings from 370,000 acres back to 320,000 acres from 2013 to 2014, while they raised grain sorghum plantings from 320,000 acres to 370,000 acres in the same time period. There were also more acres of cotton planted across Oklahoma in 2014 compared to 2013- 240,000 acres planted this spring versus 185,000 acres in 2013.


Peanut acres were the same as a year ago, with 17,000 acres planted to this legume crop. Soybean acres were reduced by a few acres, unlike the national trend which resulted in a record number of soybean acres being planted across the US here in 2014. In Oklahoma, the soybeans dropped 345,000 acres in 2013 to 325,000 acres this year.


USDA did offer our first official look at the number of canola acres planted and harvested for the 2014 season. Farmers planted 250,000 acres of canola last fall, up from 205,000 acres the years before- and harvest, which has just concluded, totaled 190,000 acres this year versus 149,000 acres of canola harvested in 2013.
 

Click Here to read more analysis of the Oklahoma acreage report.
 

Wheat Harvest Almost Complete in Oklahoma and Texas, Slow-Going In Kansas 

Oklahoma's wheat and Canola harvest is almost done. In the weekly crop progress report, winter wheat harvest has reached 89 percent complete and canola harvest is 96 percent complete.   First cutting of alfalfa hay is 92 percent complete and second cutting is 46 percent complete.  Oklahoma's row crops are continuing to do well with timely rains.  Seventy eight percent of the state's corn crop is rated in good to fair condition with 30 percent of the crop silking as of Sunday.  Peanuts, cotton and soybeans are all rated in the 90's for good to fair condition.  Sorghum rates 86 percent good to excellent.  Range and pasture conditions continued to be rated mostly good to fair.  Click Here for the full Oklahoma report.


Winter wheat harvest is nearing completion in Texas with 77 percent of the crop harvested. Widespread rainfall was experienced throughout Texas last week.  The corn and cotton crop has both improved with the adequate moisture.  Supplemental feeding of livestock has decreased due to improving pasture conditions. Click Here for the full Texas report.


Wheat harvest is slow going in Kansas with rain and high humidity.  Wheat harvest is 40 percent complete, well behind last year and the five-year average.  The state received two to four inches in the south and central and areas of western Kansas reported over six inches of total rainfall.   Topsoil moisture rating increased to 7 percent very short, 14 short,  71 adequate and 8 surplus.  Subsoil moisture rated 15 percent very short, 30 short, 53 adequate, and 2 surplus.  Click Here for the full Kansas Report.

 

USDA says US Corn and Soybean Crop Continuing to Improve

The US corn and soybean crops look to be getting even better.  In the weekly crop progress report, the national corn rating gained two more points in the excellent category with 20 percent, 55 percent in good condition, 20 percent in fair condition with only four percent in the poor and one percent in the very poor rating category.  The US soybean crop is also improving with a one point increase in the excellent category with 15 percent.  Fiftyseven percent is in good condition, 23 percent in fair, four percent in poor and one percent in very poor.  


Nationally 43 percent of the nation's winter wheat crop has been harvested, which is five points lower than the five year average for this week.  The overall condition of the winter wheat crop remains unchanged with five percent of the crop is in excellent condition, 25 in good, 26 in fair, 22 in poor and 22 in very poor condition.  The spring wheat crop dropped slightly over a week ago with 11 percent in excellent condition, 59 in good, 25 in fair, four in poor and one percent in very poor condition.


Timely rainfall is helping improve the nation's pasture and range conditions in gaining in point in the excellent category, two in the good.  Across 48 states, pasture conditions are rating 11 percent in excellent condition, 47 in good, 27 in fair, 11 in poor and four in very poor condition.  


To read the full national crop progress report Click Here.
          

Peel Finds Cattle Numbers Tight Across North America

Derrell S. Peel, Oklahoma State University Extension Livestock Marketing Specialist, writes in the latest Cow/Calf Corner newsletter


Record high feeder cattle prices leave no doubt that U.S. feeder cattle supplies are extremely tight. On January 1, estimated feeder supplies were down 2.7 percent over the previous year amid indications of heifer retention. There are indications that heifer retention has accelerated in 2014. USDA will release the July Cattle report in about a month which will provide a mid-year estimate of feeder supplies, though no year over year comparisons will be possible since the report was cancelled last year. U.S. feeder supplies will likely be down again with a 2014 U.S. calf crop fractionally smaller than last year and increased heifer retention further squeezing feeder supplies. However, the market attempts to compensate for declining supplies with high prices prompting adjustments wherever possible. U.S. veal slaughter continues to decrease, accelerating a long term trend in recent years. Veal slaughter so far in 2014 is down 15 percent year over year, a pace that would result in annual slaughter that is down 21 percent from the previous ten year average. High U.S. feeder prices also stimulate increased imports of feeder cattle from Canada and Mexico.


Cattle imports from Canada through April were up nearly 12 percent year over year. The imports reflect a changing mix of slaughter and feeder cattle with slaughter cattle down 3 percent and feeder cattle imports up 36 percent. This follows a 28 percent annual increase in Canadian cattle imports in 2013, consisting of 5 percent more slaughter cattle and a 113 percent increase in feeder cattle imports. Changes in the mix of slaughter and feeder cattle imports from Canada partly reflect the impacts of the latest country of origin label (COOL) rules implemented in May, 2013 and partly the strong U.S. demand for feeder cattle. Despite the flexibility to shift between feeder cattle and slaughter cattle, there is a limit to total cattle imports from Canada. The Canadian beef cow herd is the smallest in 20 years and expected herd rebuilding there will limit feeder supplies in coming years.   

Click Here to read more from Dr. Peel's current analysis on the cattle marketplace.  

U.S. Department of Agriculture (USDA) Oklahoma Farm Service Agency (FSA) Executive Director Francie Tolle reminds agricultural producers that July 15, 2014, is the deadline to file an acreage report for spring seeded crops. Planted acres must be reported to FSA by July 15, 2014. The Agricultural Act of 2014 (2014 Farm Bill) requires producers on a farm to submit annual acreage reports on all cropland.


"Although some federal farm program enrollments have not yet started, timely acreage reports for all crops and land uses, including prevented and failed acreage that producers submit to their local FSA office, are important to ensure program eligibility," said Tolle.


Acreage reports to FSA are considered timely filed when completed by the applicable final crop reporting deadline, which may vary from state to state. Perennial forage crops intended for grazing or haying were required to be reported last fall, whereas perennial forage crops with an intended use of cover only, green manure, left standing, or seed, must be reported by July 15.   

 Click Here to read more about acreage reporting requirements.  

Mike Jackson Jumps Straight from the Statehouse to the State Chamber

State Representative Mike Jackson could have stayed for one more term as a State Legislator serving the Enid area and continuing as the number two Republican in the House- but announced earlier this year he would not be seeking reelection- and almost before his House seat is cold- he has headed across town to work for the State Chamber of Commerce as a Vice President of Strategic Partners- beginning today.

Jackson's role will include assisting the Government Affairs and Political Affairs staff and overseeing grassroots efforts for the State Chamber. We have posted a news release from the State Chamber on the announcement- click here for that. 

Jackson is an Ag Grad- with a degree in Ag Communications from OSU- and he was a Public Information Officer for the Oklahoma Department of Agriculture after graduating from the University.

With the Legislative Session just barely over- you can still go and look at Jackson's House webpage- click here to go and take a look.