~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Tuesday September 18, 2007!A service of Cusack Meats, Farm Credit of East Central Oklahoma & Midwest Farm Shows
-- ABARE issues Bull of a Down Under Number- 15.5 Million Metric Tons for the Aussie Wheat Crop.
-- Wheat Planting Lagging Normal Years
-- More Asian Soybean Rust Found in Oklahoma- and other states.
-- Advance Price for 2008 Canola upped for Southern Plains Production.
-- Worry Keeps Wheat Market Sky High- Kim Anderson
-- Last Call for Women's Conference in Moore that happens this week.
-- More Beef Buzzing With Derrell Peel!
Here's your morning farm news headlines from the Director of Farm Programming for the Radio Oklahoma Network, Ron Hays. We are proud to welcome Farm Credit of East Central Oklahoma as a regular sponsor of our daily email update. Farm Credit of East Central Oklahoma has ten branch offices to serve your farm financing needs and is dedicated to being your first choice for farm credit. Check out their website for more information by clicking here!
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ABARE issues Bull of a Down Under Number- 15.5 Million Metric Tons for the Aussie Wheat Crop.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~After a big late in the day runup on Chicago and Kansas City's Boards of Trade in the wheat pits, the Electronic overnight trading got another jolt to the up side with the announcement by the Australian government that the size of their wheat crop this growing season has been shrunk dramatically because of drought.
The Australian Economic Analysis Unit for Agricultural Production, ABARE, now predicts the size of the Australian crop at just 15.5 million metric tonnes, down thirty one percent from the June guess of 22.5 million metric tonnes. Before the USDA Supply Demand numbers were issued last week- heard private guesses at or even below fifteen million metric tonnes and the now that significant of a crop reduction has the credibility of the Aussie government behind it.
Early this morning as we finish up this email, the electronic trading in wheat stands 11 to 13 cents a bushel higher. While the ABARE number is certainly a major reduction, it is still what the trade was talking about before the report was issued last night our time- and we may get some buy the rumor, sell the fact before the end of the open outcry session today.
Wheat Planting Lagging Normal Years
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The latest crop weather update is out from NASS and it shows that we have now planted 12% of the 2008 Winter wheat crop here in Oklahoma- versus 21% planted by last year at this point and 26% which is the five year average. Our neighboring states are also slow in getting the crop into the ground this year as well with Texas now 9% planted versus their five year average of 26% and Kansas a week behind normal planting at 7% in the ground versus the five year average of 13%.
Pasture and range conditions remain about where they have been in recent weeks, with both Oklahoma and Texas Pasture and Range Conditions the best in the United States. Texas stands at 78% good to excellent while Oklahoma is at 74% good to excellent. The worse pasture conditions in the US are found in California at 94% poor to very poor, while the southeastern states of North Carolina and Tennessee also have terrible pasture ratings- North Carolina at 88% poor to very poor- most of that in the very poor category, while Tennessee is at 78% poor to very poor condition.
Harvest of spring planted crops are under way here in Oklahoma, with 63% of the corn crop now harvested- ahead of the five year average by 16 percentage points, while the grain sorghum harvest is just underway at 6% complete in the state, behind the five year average of 20% done by this time of year. We have the full Oklahoma Crop Update linked below- check it out.
More Asian Soybean Rust Found in Oklahoma- and other states.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~At the end of this past week- more Asian Soybean Rust was found in two more Oklahoma Counties, Okmulgee and Sequoyah. AT the same time, rust is no longer being seen in two counties where it was found in sentinel plots- Tulsa and Payne Counties.
OSU Plant Pathologist John Damicone reports "rust was found for the first time in the sentinel plot in Okmulgee Co. at an incidence of 8% and in a commercial field in Sequoyah Co. at 12%. Rust levels advanced from 5 to 40% in Choctaw Co., and reached 100% in the MG 5.5 sentinel plots in Atoka and Bryan Counties. Rust levels remained low (<5%) in Ottawa County. Rust was not found this week in sentinel plots in Kay, Sequoyah, and Washington Counties, and in sentinel plots in Payne and Tulsa Counties where it had be found previously this year. Other diseases such as anthracnose, downy mildew, brown spot, bacterial blight, and frogeye leaf spot are widespread and continue to make rust recognition in the field difficult. Frogeye leaf spot is particularly severe in some fields."
As far as spray recommendations are concerned, Dr. Damicone is telling producers "Fungicide spray are recommended to protect soybeans from rust in affected counties when soybeans are in the R1 to R4 growth stages. The decision to spray at R5 is a judgement call. Fungicide application for rust control should be considered only where crop conditions and yield prospects are good. Fungicide application to soybeans with low yield potential is not likely to be productive. "
Advance Price for 2008 Canola upped for Southern Plains Production.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~As our grain and oilseed prices advance, we have gotten word from Gene Neuens of Plains Oilseed Producers that they advance price they are offering for the 2008 harvest of winter canola at local pickup sites has been raised from thirteen cents a pound to 13 and half cents per pound.
We are still in the window where canola can be planted here in Oklahoma- and we will be visiting with folks about actual plantings in the next couple of weeks. With the high wheat prices currently seen, it has made canola a hard sell this planting season, especially for those that have wheat seed available to them.
Worry Keeps Wheat Market Sky High- Kim Anderson
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~While the ABARE forecast for a much lower wheat crop this year Down Under in Australia is the top headline for the wheat market right now- the underlying key, according to Dr. Kim Anderson, OSU Grain Marketing Economist, is the worry by US Flour Millers that the tight stocks will make it impossible for them to have reliable supplies all the way to next June when we have new crop supplies of wheat available once again.
Wheat Stocks are at their lowest levels since the days of the Russian Grain Robbery that shot wheat prices to record high prices for that era- back in the early 1970s- and now we are faced with the market shooting higher in an effort to ration out the available supply with domestic and foreign demand.
You can hear our full conversation with Dr. Anderson about these underlying factors- as well as current strategy if you do still own wheat by clicking below.
Click here to listen to Ron and Kim talk Wheat Market "what ifs"
Last Call for Women's Conference in Moore that happens this week.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Fourth Annual State Women in Agriculture and Small Business Conference is planned for Moore-Norman Technology Center in south Oklahoma City- the dates are September 20-21. For more information, including registration details, contact the Great Plains Resource Conservation and Development office at 580-832-3661.
We also have this event linked with more details on our website on our Calendar page. We have a link to that page below. Check this event out- as well as a full listing of the livestock events that continue this week at the State Fair of Oklahoma.
Click here for our Calendar Page on WWW.OklahomaFarmReport.Com
More Beef Buzzing With Derrell Peel!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~We talk about one of the most frustrating subjects ever when it comes to the beef cattle marketplace- and that is the incredibly slow pace of reestablishing our presence in South Korea and Japan. Dr. Peel says it has been especially tough in South Korea, where the packers/processors have hurt our cause in repeated violations of the current deal in place with that country of no bone-in beef allowed into Korea from the United States.
He does point out that there are two ways that export markets will help our US cattle market as they crawl back to a larger percentage of the overall marketplace. First is the actual tonnage we sell overseas- but secondly, it's the help we will get with certain beef cuts that are in greater demand overseas than here in the US.
Dr. Peel tells us these foreign markets frustrate us- but they are worth pursuing. You can hear his comments as we visit with him on today's Beef Buzz, heard on radio stations on the Radio Oklahoma Network and found on the Beef Buzz page of our website. We have today's show linked below- check it out!
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