Agricultural News
Wheat Prices Nearing Another Support Level After Losses of Forty Cents a Bushel This Week
Fri, 15 Jan 2010 6:40:44 CST
Wheat prices have tumbled forty cents or more since the release of the multiple reports by USDA on Tuesday morning- and Clinton Griffiths of SUNUP has bad news and good news for the wheat producer with Dr. Kim Anderson in the aftermath of that data.
Anderson says that the negative aspects of these reports overwhelmed the positive aspects of the lower wheat seedings that were indicated by Uncle Sam. The Economist points out that wheat farmers are market savvy and correctly pulled back on wheat acres in this country to try to bring supply and demand into balance.
Dr. Anderson says current support levels are around $515. to $5.20 a bushel, basis the March Kansas City wheat futures. If we break those levels, we could have another twenty five to thirty cents per bushel of downside ahead in the short term.
We have the audio from Clinton's video segment with Kim Anderson that will be seen on SUNUP this weekend on OETA. Click on the Listen Bar below to get the full scoop on wheat prices with Dr. Anderson from this weekend's show.
Beyond Kim Anderson, Clinton Griffiths says that they have a good lineup on this weekend's SUNUP- including the following:
SUNUP profiles the results from the 2009 Oklahoma Quality Beef Network's cattle sales.
-Glenn Selk discusses how long producers should wait before offering assistance to a laboring cow.
-In Shop Stop the guys are on part two of chain saw maintenance, and this week they talk about the importance of a clean spark arrester.
-Derrell Peel looks into the current supply and demand situation for livestock markets.
-SUNUP breaks down the numbers with an economist on the payback from planting continuous wheat crops versus adding in a rotational crop, and we show you how to do the same calculations on your own farm.
-The USDA Natural Resources Conservation Service's national fire school spent the week in Stillwater. SUNUP talks to participants learning how to manage the land using fire.
-AGWEATHER provides perspective to the recent cold snap and shares the long term forecast for the rest of January.
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