Agricultural News
Food Security and the Bidding War for Acres Continue to Underpin Ag Commodity Prices- Kim Anderson on SUNUP
Fri, 11 Feb 2011 3:30:29 CST
OSU Grain Marketing Economist Dr. Kim Anderson talks this week with Lyndall Stout on SUNUP about Wednesday's USDA Supply-Demand report that shows the corn stocks numbers are getting smaller, aided by an increase in the useage of ethanol for corn, and wheat and soybean stocks left unchanged in this month's report. Anderson says that we continue to have the idea of the market "bidding" for acres working in all of the major commodity markets, with corn and especially cotton spiking higher this week.
Anderson adds we also have the new twist of "food security" working as well. At one time, this idea meant the ability to produce as much of your food domestically as possible- today, it seems to mean that you have secured adequate supplies of food to feed your country's population. This "food security" fear has been underlying the ag futures market and has pushed us higher- and has been one of the factors in the riots being seen in countries like Egypt as well as Tunisia and Algeria and others in that part of the world. The picture here from AP shows Indian women struggle to grab onions being sold by a political party at cheap rates as a mark of protest against the rising prices in Mumbai, India earlier here in 2011.
Stout asks Anderson about the wheat market- and the veteran wheat market watcher still thinks that by the latter part of March, we will have had the battle for acres play through- and wheat prices could easily slip a dollar per bushel at that point.
You can hear Lyndall and Kim in a preview of this week's SUNUP by clicking on the LISTEN BAR below.
Besides the grain market update with Kim Anderson, Stout and the team at SUNUP tell us that they have a great lineup for this Saturday morning on SUNUP. That includes:
OSU Equine Specialist Dave Freeman shares advice on choosing the right stable for your horse.
In Cow-Calf Corner, Glenn Selk talks about the proper way to get a calf breathing after birth.
Derrell Peel discusses beef prices and the impact winter weather is having on beef production and the cattle markets.
In the Mesonet outlook, Al Sutherland and the weather team examine whether the recent snowstorms have helped Oklahoma¹s drought condition.
In Shop Stop, Randy and Wayne teach viewers how to remove a broken bolt.
Finally, Jody Campiche gives an overview of a federal disaster assistance program for cattle producers who¹ve lost livestock in the winter storms.
SUNUP airs Saturday mornings at 7:30 on your local OETA channel. Click here for the the SUNUP Youtube Channel to see more of their videos
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