Wheat Price Rise Has Been Mind Boggling Since Last JuneFri, 21 Jan 2011 7:02:29 CST
Wheat producers have seen a "mind boggling" price move from harvest in June 2010 to here in early January, as OSU Extension Grain Marketing Economist Kim Anderson tells us that we have moved cash wheat prices in Oklahoma from just below $3 a bushel at harvest to now almost $8 a bushel here in mid January. The factors that he cites as he talks with Lyndall Stout of SUNUP is demand being higher than expected, production less than expected and US wheat stocks being lower than the one billion bushel stockpile we were told to expect back last summer.
Anderson says he thinks wheat prices will stay close to where they are now until early March- and at that point the markets will react to the crop conditions as the US Hard Red Winter Wheat Crop comes out of dormancy. If we get rain and the crop responds- prices could easily fall from the current close to $8 level to around $6. But, if dryness persists and export demand stays strong- $10 wheat is not out of line for later here in the spring of 2011.
You can watch Kim visit with Lyndall Stout of SUNUP on Saturday morning on the OETA network of stations around the state- or you can click on the LISTEN BAR below and hear that conversation right now- with a chance to act on Kim's advice if you care to do so when the market is open on this Friday.
Besides the Kim Anderson look at the wheat market, Lyndall and her team tell us that this week's program is full of good information:
This week on SUNUP, we talk with Jason Warren about the importance of maintaining terraces for a no-till operation.
In Naturally Speaking, Dwayne Elmore demonstrates how to protect your trees from damage caused by the Yellow-bellied Sapsucker, a widespread species of small woodpecker.
Glenn Selk gives a lesson on the stages of calf birth, in Cow-Calf Corner.
In the Mesonet forecast, Al Sutherland and the weather team update the drought situation, the percentage of normal rainfall and the counties currently under a burn ban.
Shannon Ferrell explains the changes in estate tax laws for 2011.
In Shop Stop, Wayne and Randy give advice on selecting and mounting the right springs for your trailer.
Gina Peek discusses the importance of regular well water testing and explains how to get a clean sample.
Finally, we follow-up with an interview with Hailin Zhang in the Soil Testing Lab about routine water testing.
SUNUP airs Saturday mornings at 7:30 on your local OETA channel.
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