Agricultural News
OSU Grain Market Guru Kim Anderson Sees Continuing Battle of Major Crops Wanting to Buy Acres for 2011
Fri, 12 Nov 2010 6:49:18 CST
Different grains had different responses to the November Crop Production and US Supply and Demand Reports from earlier this week. OSU Grain Marketing Economist Dr. Kim Anderson says that in the case of corn and wheat- the numbers that were reported by USDA were already baked into the current market levels- and that the profit taking that followed the reports is the classic- "Buy the rumor and sell the fact."
Anderson does believe that it's a different situation for soybeans, as soybean market watchers got unexpected news from the reports- and that the tight stocks that were reported by USDA has convinced the trade that soybean prices must rise in order to "buy" enough acres to assure an adequate sized crop in 2011.
He does believe that corn is still the driving force in the overall grain and oilseed market- that corn needs to "buy" three to five million acres of more production next season- and that is the key reason corn has gone higher to this point- and has little downside to it in the near term.
Anderson's comments are with Austin Moore for the weekly OSU Division of Agriculture program SUNUP- as seen on OETA Saturday mornings. You can watch Austin and Kim on Saturday- and you can catch the audio of their conversation early right here by clicking on the LISTEN BAR below.
Austin also provides a rundown of the rest of the SUNUP program planned for this Saturday:
This week on SUNUP, we head to the OKC West Livestock Market for their OQBN Sale.
Kellie Raper gives us a look at last year’s OQBN numbers.
On Cow-Calf Corner, we finish up our series on vaccination techniques.
We visit with Eric DeVuyst and learn why DASNR will be collecting data at livestock auctions throughout the fall.
Our Mesonet segment talks about the influence of solar radiation on our weather.
Joe Armstrong helps us to indentify common grass weeds.
And finally, on Shop Stop, we look at winterizing your lawn tractor.
For more on this weekly programming effort coming out of OSU- click here for the SUNUP website.
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