Howdy Neighbors!

Here's your morning farm news headlines from the Director of Farm Programming for the Radio Oklahoma Network, Ron Hays. We are pleased to have American Farmers & Ranchers Mutual Insurance Company as a regular sponsor of our daily update- click here to go to their AFR web site to learn more about their efforts to serve rural America!

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"This announcement is a strong signal that we are preparing to move to E15, a measure that will create 136,000 new U.S. jobs, cut greenhouse gas emissions and lessen America's dependence on imported oil," said Gen. Wesley Clark, Co-Chairman of Growth Energy.

"While we believe the data included in the Green Jobs Waiver supports raising the blend to E15, critics have called for additional testing. We are confident the ongoing tests will further confirm the data we submitted in the Growth Energy Green Jobs Waiver and silence those critics, allowing more American-produced energy to enter the market." said Tom Buis, CEO of Growth Energy.

Less pleased with the delay offered by EPA is the Renewable Fuels Association. Bob Dinneen offered this statement: "This delay threatens to paralyze the continued evolution of America's ethanol industry. As EPA itself indicated, the scientific data to date has demonstrated no ill-effects of increased ethanol use in any vehicle currently on the road. Moreover, this delay will chill investment in advanced biofuel technologies at a critical time in their development and commercialization.
"In order to avoid paralysis by analysis, EPA should immediately approve intermediate ethanol blends, such as E12. Allowing for a 20 percent increase in ethanol's potential share of the market would provide some breathing room for the industry while EPA finishes its testing on E15. Additionally, it would represent a good faith gesture that underscores the commitment President Obama has pledged to biofuels."

Click on the link below for more on this announcement- which means that we won't see any further response from the EPA on this issue until June of next year, if then.

Click here for more on this story- including a chance to review the letter sent by EPA to Growth Energy.

Congressman Pomeroy says that this bill will provide full and permanent estate tax relief for 99.75 percent of families, farmers, and small businesses in this country, meaning they would not have to pay any estate tax. By making the 2009 estate tax level permanent, this bill, Pomeroy says, "provides the stability families need to make long-term decisions and avoid the estate planning roller coaster that will result from current law."

Absent this change, the estate tax is scheduled to enter one year of full repeal in 2010 followed by a return of the estate tax in 2011 with a much lower exemption amount, 1-million, and a much higher maximum tax rate of 55%.
While the House may vote this measure out this week- it's fate is less certain in the Senate, where a similar bill has been introduced with one key change- the exemption amount would be indexed for inflation.

Click here to view the language of this measure that will be voted on by the US House tomorrow

Lucas praises farmers and ranchers for producing a safe and abundant food supply, but then says "cap and tax legislation threatens that safe, abundant and affordable food and fiber supply. The agriculture industry, as we know it, will not survive under the heavy burdens of a cap and tax policy. This week the Agriculture Subcommittee on Conservation, Credit, Energy, and Research will hold two important hearings to learn more about the economic impact of climate change legislation. Witnesses are expected to highlight and discuss various studies that have been completed on the costs of cap and trade on the agriculture industry."

The Congressman from Roger Mills County concludes his comments by saying "the agriculture industry and rural America cannot afford the devastating economic effects of cap and tax."
The hearings that Lucas refers to will include testimony from USDA Chief Economist Dr. Joe Glauber, who will provide additional details on USDA's analysis of Cap and Trade on farmers and ranchers. USDA Secretary Tom Vilsack will use a News Teleconference this morning as a bully pulpit to promote the Obama Administration's ideas on Climate Change- in advance of that testimony. And, we hope to visiting with Congressman Lucas about this and other issues later this morning as well. In fact, if you have a burning question for Mr. Lucas, drop me an email and I will try to get it asked and have an answer for you.

Click here to read the full "Ag Minute" and hear it as well.

Open interest continued to swell in HRW wheat futures during the month of November. Wheat futures open interest of 135,164 contracts was an increase of 6.8 percent over the past month and was 70.2 percent higher than at the end of November 2008.

KCBT traders noted that the increase in trading volume was largely due to weather delays in corn and soybean harvest, which were leading to postponements in winter wheat planting in some areas. Also, as the U.S. Dollar declined, new investment money was moving into commodity markets.

"We are truly honored to again have Chesapeake, Oklahoma's most active driller and largest clean natural gas producer, as our partner in furthering conservation in Oklahoma," Trey Lam, President of OACD said. "The company's continued sponsorship of these awards and its commitment to protecting and conserving our natural resources is greatly appreciated. They are truly committed to the conservation and protection of our soil, water, air and wildlife habitats." The Chesapeake Outstanding Conservation Educator Award will be presented annually to the Oklahoma school teachers judged as having best incorporated information on the conservation of our natural resources into their lesson plans using inventive and imaginative techniques.

"It's an honor for Chesapeake to partner again with the Oklahoma Association of Conservation Districts to recognize the outstanding conservation educators in Oklahoma," said Teresa Rose, Chesapeake Director of Community Relations. "Chesapeake is committed to being a leader in a wide variety of areas including the protection of Oklahoma's environment and bountiful natural resources. Chesapeake's commitment to environmental education is one we take very seriously and we believe environmental education is essential to ensure future Oklahoma leaders have the knowledge base to make wise environmental decisions.

The official rules for this contest and additional information are available by contacting your local conservation district office or by contacting Clay Pope, Executive Director of the Oklahoma Association of Conservation Districts, at (405) 699-2087 or claypope@pldi.net. The deadline for the contest is February 1, 2010.

Several OALP graduate return to Oklahoma rural communities to assume major community and county leadership roles in addition to agricultural leadership roles. Dr. Joe Williams, Director of the Program, tells us that two Class X graduates are currently serving as mayor of their respective communities. The idea of the Oklahoma Ag Leadership Program is to identify young leaders in rural area in production agriculture and in agribusiness (as well as in a government position serving rural Oklahoma) and get them prepared to step up and be leaders that make a difference at the local, regional, statewide and even national level.

Thursday and Friday activities focus on preparation for the international experience in February and March, 2010. The class travels to Spain and Morocco at that time, to study agriculture in an international context.
It's not too early to be thinking about being a part of Class Fifteen of the program- applications will be available soon after January first.
And Alums- a reminder that you need to write that check to help support the program and meet the Noble Foundation challenge for 2009- Noble matches each dollar contributed by an Alum of OALP up to a maximum of $25,000 annually.

Click here for the OALP website- and what class 14 has been doing this fall.

The Nunley family will be selling 195 head- including Registered Angus Service-age Bulls, Registered Angus Females- Cow/Calf Pairs, Open Heifers, Bred Cows & Heifers. There will also be a set of Commercial Open Heifers that are a part of the offering.

In their catalog- which can be accessed by clicking on the link below- owner Bill Nunley says they are on land that has been in their family since 1907- at the time of statehood. He adds this note about the cattle that will be offered "We have tried to breed cattle that are appropriate for different situations; nevertheless, you, the customer, will decide that."

Click here for more on the Nunley Angus Production Sale This Saturday in Marlow

We also invite you to check out our website at the link below to check out an archive of these daily emails, audio reports and top farm news story links from around the globe.

Click here to check out WWW.OklahomaFarmReport.Com

Here are some links we will leave in place on an ongoing basis- Click on the name of the report to go to that link:
Our Daily Market Wrapup from the Radio Oklahoma Network with Ed Richards and Tom Leffler- analyzing the Futures Markets from the previous Day-
Ron on RON Markets as heard on K101 mornings with cash and futures reviewed- includes where the Cash Cattle market stands, the latest Feeder Cattle Markets Etc.
Previous Day's Wheat Market Recap- Two Pager From The Kansas City Board of Trade looks at all three US Wheat Futures Exchanges with extra info on Hard Red Winter Wheat and the why of that day's market.
Daily Oklahoma Cash Grain Prices- As Reported by the Oklahoma Dept. of Agriculture. <
The National Daily Feeder & Stocker Cattle Summary- as prepared by USDA.
The National Daily Slaughter Cattle Summary- as prepared by USDA.
Finally, Here is the Daily Volume and Price Summary from the Texas Cattle Feeders Association.