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Agricultural News

Maybe Seven Dollar Wheat Makes Sense- So says Dr. Kim Anderson of OSU

Tue, 04 Jan 2011 6:42:38 CST

Maybe Seven Dollar Wheat Makes Sense- So says Dr. Kim Anderson of OSU Oklahoma State University Extension Grain Marketing Economist Dr. Kim Anderson says that he has reviewed how the market is pricing wheat as we begin 2011- and perhaps his earlier ideas that the market is in "bubble mode" is not necessarily true.

In focusing on the global and US supplies of wheat- we are above the historical average in the number of bushels we have on hand- but Dr. Anderson says you can't look at the supply situation in a vaccum. You must also consider useage. And consumption of wheat globally has been growing. In fact, over a five year period dating back to 2006, our consumption is 1.8 billion bushels above the historical average. Consumption has grown significantly for wheat- and that seems to give credibility to the market pushing Kansas City wheat futures close to nine dollars- and cash wheat prices back at the farmgate in Oklahoma in the seven dollar to seven- fifty neighborhood.

On his marketing website, Dr. Anderson writes "Because of increased demand, wheat stocks may be tighter than the comparison of the five-year average and current ending stocks estimate implies. The five-year average annual (2006/10) wheat price is $5.50 compared to $3.31 for 2001/05 and $3.09 for 1996/00. Higher prices due to increased demand may be justifiable."

Lyndall Stout of SUNUP did a special interview with Kim as the New Year has begun- and we have the audio of that for you by clicking on the LISEN BAR below.   


Lyndall Stout talks with Dr. Kim Anderson of OSU about current wheat supplies- and demand globally for wheat.
right-click to download mp3


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