Agricultural News
Protein Discounts Could Change the Way Wheat is Handled in Future Years
Wed, 08 Dec 2010 6:31:28 CST
The Chief Executive Officer of the Oklahoma Wheat Commission believes that the move by the Kansas City Board of Trade to make adjustments in their hard red winter wheat contracts in 2011 is a reflection of the changes that may be on the horizon for wheat producers here in the southern Great Plains. Mike Schulte says that especially the price discount schedule for protein content of delivered wheat could profoundly change how wheat is handled and priced in the years ahead.
We reported last week that the members of the Kansas City Board of Trade in a special election held on November 30 approved amendments to the KCBT’s Hard Red Winter wheat futures contract by a vote of 115 to 36. The Board of Directors approved the amendments at a meeting on November 4. The Oklahoma Wheat Industry will likely be most concerned with the points that deal with price discounts for protein as well as for vomitoxin.. One grain industry official noted that both the protein discount and the adjustment for vomitoxin could cause Oklahoma wheat producers problems.
Click here for our earlier story on the KC Board of Trade's plans to change wheat contract specs.
We talked with Schulte about these issues- and you can hear our conversation with him by clicking on the LISTEN BAR below.
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