Agricultural News
If You Have Old Crop Wheat- Sell the Rallies.
Thu, 04 Feb 2010 16:42:19 CST
If you have wheat in the bin from this past growing, Dr. Kim Anderson of OSU tells Austin Moore for this weekend's SUNUP program that you need to be selling some of that wheat each time we have a rally. He points to the fact that we saw some wheat price strength early in the week- farmers quickly let go of some cash wheat and prices backed down to about where they were before the price rally.
Dr. Anderson says that is what wheat producers need to be watching for in the weeks ahead- those ten to fifteen cent price jumps which allow them to unload some of their old crop wheat.
For the 2010 wheat crop that will be harvested in June- what's a wheat farmer to do? Well, Dr. Anderson says the market is offering a local cash price of around $4.10 to $4.20 per bushel for that wheat to be harvested- probably not enough to forward contract much if any wheat.
At harvest time, if you want some cash for immediate bills- you may want to sell 25% to 33% of the bushels you have come in from the fields- and then hold the bulk of the new crop for possible rallies later summer or into the fall.
Dr. Anderson's comments are a part of this Saturday's SUNUP, a production of the OSU Ag Communications Department within the Division of Agriculture. Besides Kim's comments, which you can preview by clicking on the Listen Bar below- here's a rundown of what else will be on the program this weekend:
SUNUP will continue their No-Till series with a look at crop rotation in no-till. Then they will have a report on the recent ice storm and a new ice storm predictor being used by the national weather service. Glenn Selk alerts producers to a pair of upcoming webinars in Cow-Calf Corner. The guys tackle broken pipes on Shop Stop. Finally, AgWeather gives us a look at how this latest round of weather affected our crops.
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