{"id":682,"date":"2020-01-10T12:19:17","date_gmt":"2020-01-10T18:19:17","guid":{"rendered":"https:\/\/amarillo.tamu.eduagecon\/?p=682"},"modified":"2020-01-10T12:19:17","modified_gmt":"2020-01-10T18:19:17","slug":"high-plains-ag-week-1-10-2020","status":"publish","type":"post","link":"https:\/\/agrilife.org\/agecon\/high-plains-ag-week-1-10-2020\/","title":{"rendered":"High Plains Ag Week 1\/10\/2020"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-688 alignleft\" src=\"https:\/\/amarillo.tamu.edu\/agecon\/files\/2020\/01\/person-holding-paper-in-left-hand-and-pen-on-right-hand-2058132-1024x683.jpg\" alt=\"\" width=\"165\" height=\"110\" srcset=\"https:\/\/agrilife.org\/agecon\/files\/2020\/01\/person-holding-paper-in-left-hand-and-pen-on-right-hand-2058132-1024x683.jpg 1024w, https:\/\/agrilife.org\/agecon\/files\/2020\/01\/person-holding-paper-in-left-hand-and-pen-on-right-hand-2058132-768x512.jpg 768w, https:\/\/agrilife.org\/agecon\/files\/2020\/01\/person-holding-paper-in-left-hand-and-pen-on-right-hand-2058132-1536x1024.jpg 1536w, https:\/\/agrilife.org\/agecon\/files\/2020\/01\/person-holding-paper-in-left-hand-and-pen-on-right-hand-2058132-2048x1365.jpg 2048w\" sizes=\"auto, (max-width: 165px) 100vw, 165px\" \/>Today we review the January WASDE, which had a significant revision for one major crop grown on the Texas High Plains.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><!--more--><\/p>\n<h3><\/h3>\n<h3>Registration for Texas A&amp;M AgriLife Events and Upcoming Deadlines:<\/h3>\n<p>January 29 &#8211; End of <a href=\"https:\/\/www.regulations.gov\/document?D=AMS_FRDOC_0001-1943\" target=\"_blank\" rel=\"noopener noreferrer\">Comment Period for USDA Hemp Interim Rule\u00a0<\/a><\/p>\n<p>February 6-7, 2020 &#8211; Developing this Year&#8217;s Marketing Plan for Feed Grains and Cotton, Amarillo AgriLife Research &amp; Extension Center; Preregister at <a href=\"https:\/\/agriliferegister.tamu.edu\/productListingDetails\/2979\" target=\"_blank\" rel=\"noopener noreferrer\">https:\/\/agriliferegister.tamu.edu\/Grain<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-683 aligncenter\" src=\"https:\/\/amarillo.tamu.edu\/agecon\/files\/2020\/01\/Screen-Shot-2020-01-10-at-11.47.34-AM-1024x172.png\" alt=\"\" width=\"1024\" height=\"172\" srcset=\"https:\/\/agrilife.org\/agecon\/files\/2020\/01\/Screen-Shot-2020-01-10-at-11.47.34-AM-1024x172.png 1024w, https:\/\/agrilife.org\/agecon\/files\/2020\/01\/Screen-Shot-2020-01-10-at-11.47.34-AM-768x129.png 768w, https:\/\/agrilife.org\/agecon\/files\/2020\/01\/Screen-Shot-2020-01-10-at-11.47.34-AM-1536x258.png 1536w, https:\/\/agrilife.org\/agecon\/files\/2020\/01\/Screen-Shot-2020-01-10-at-11.47.34-AM-2048x345.png 2048w, https:\/\/agrilife.org\/agecon\/files\/2020\/01\/Screen-Shot-2020-01-10-at-11.47.34-AM-1280x215.png 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p>The January WASDE was released this morning at 11 am CST. Industry members were focused on the outcome for corn, waiting to see if USDA would increase or decrease yield per harvested acre. While the information that came out was bearish, season average farm price was not adjusted.<\/p>\n<p>Yield per harvested acre increased a bushel form 167 bu\/acre to 168 bu\/acre. Keep in mind that the 2018-2019 yield per harvested acre was 176.4 bu\/acre. All the adjustments still keep ending stocks above the 2 billion bushel mark. Barring an outsized production challenge in 2020, expect corn prices to remain pressured. Following the WASDE release CME DEC corn wavered but, didn&#8217;t change much.<\/p>\n<p>Cotton season average price was the only price adjusted.\u00a0A 5% decrease in area harvested led to a decline in production, supply, and ending stocks. The reduction in supply led to a 3.3% upward revision in season average price. The area harvested was still greater than the 2018-2019 crop year. In general, cotton price is forecast to remain largely stagnant, potentially large purchases from China notwithstanding.<\/p>\n<p>Finally, there was a significant revision to feed and residual use for wheat. The increase in feed and residual use increased total wheat use by 0.4%, leading to a decrease in ending stocks of almost 1%. While the season average price was not revised up, wheat price is forecast to increase during the 2020-2021 crop year, in general. Declining acreage across the U.S. and production challenges in soft wheats are forecast to lead to an overall decrease in supply.<\/p>\n<p>&nbsp;<\/p>\n<h4 style=\"text-align: center;\">January 10 World Agricultural Supply &amp; Demand Estimates (WASDE)<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-684 aligncenter\" src=\"https:\/\/amarillo.tamu.edu\/agecon\/files\/2020\/01\/Screen-Shot-2020-01-10-at-11.36.23-AM-1024x990.png\" alt=\"\" width=\"1024\" height=\"990\" srcset=\"https:\/\/agrilife.org\/agecon\/files\/2020\/01\/Screen-Shot-2020-01-10-at-11.36.23-AM-1024x990.png 1024w, https:\/\/agrilife.org\/agecon\/files\/2020\/01\/Screen-Shot-2020-01-10-at-11.36.23-AM-768x742.png 768w, https:\/\/agrilife.org\/agecon\/files\/2020\/01\/Screen-Shot-2020-01-10-at-11.36.23-AM.png 1138w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p>&nbsp;<\/p>\n<h3>Chart Challenge<\/h3>\n<p>The chart challenge this week is a price series. Can you guess what price is being tracked here from 2017-2019?<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-685 aligncenter\" src=\"https:\/\/amarillo.tamu.edu\/agecon\/files\/2020\/01\/Screen-Shot-2020-01-10-at-12.09.09-PM-1024x531.png\" alt=\"\" width=\"1024\" height=\"531\" srcset=\"https:\/\/agrilife.org\/agecon\/files\/2020\/01\/Screen-Shot-2020-01-10-at-12.09.09-PM-1024x531.png 1024w, https:\/\/agrilife.org\/agecon\/files\/2020\/01\/Screen-Shot-2020-01-10-at-12.09.09-PM-768x399.png 768w, https:\/\/agrilife.org\/agecon\/files\/2020\/01\/Screen-Shot-2020-01-10-at-12.09.09-PM.png 1422w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h3>Upcoming Dates:<\/h3>\n<p><strong>Summer Crops Marketing &amp; Outlook<\/strong>\u00a0\u2013 January 10 \u2013 Pampa, TX<\/p>\n<p><strong>Crop Profitability Analyzer &amp; Farm Bill Decision Aid Tutorial<\/strong>\u00a0\u2013 January 14 \u2013 Perryton, TX<\/p>\n<p><strong>Top of Texas Ag Conference\u00a0<\/strong>\u2013 Janaury 15, Pampa, TX<\/p>\n<p><strong>Southeast Panhandle Crops Conference<\/strong>\u00a0\u2013 January 15 \u2013 Memphis, TX<\/p>\n<p><strong>Hale\/Swisher Crops Conference<\/strong>\u00a0\u2013 January 23 \u2013 Plainview, TX<\/p>\n<p><strong>Caprock Conference<\/strong>\u00a0\u2013 January 24 \u2013 Muncy, TX<\/p>\n<p><strong>Feed Grains &amp; Cotton Marketing Workshop<\/strong> \u2013 February 6-7 \u2013 Amarillo, TX<\/p>\n<h3>In the News:<\/h3>\n<p>BEEF &#8211; <a href=\"https:\/\/www.beefmagazine.com\/exports\/chinas-beef-imports-soaring-us-beef-producers-await-trade-deal-details?NL=BEEF-01&amp;Issue=BEEF-01_20200110_BEEF-01_743&amp;sfvc4enews=42&amp;cl=article_7&amp;utm_rid=CPG02000003720166&amp;utm_campaign=45600&amp;utm_medium=email&amp;elq2=c80ce84be2fc4cc8b66d3ad26c378dbf\" target=\"_blank\" rel=\"noopener noreferrer\">China\u2019s beef imports soaring as U.S. beef producers await trade deal details<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today we review the January WASDE, which had a significant revision for one major crop grown on the Texas High Plains. &nbsp; &nbsp;<\/p>\n","protected":false},"author":1764,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-682","post","type-post","status-publish","format-standard","category-uncategorized","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - 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