Agricultural News
OSU's Dr. Kim Anderson Discusses Forward Contracting- and we have your SUNUP preview
Thu, 06 Oct 2011 15:00:59 CDT
Wheat producers are looking forward to wheat prices for the 2012 crop year with the Kansas City Board of Trade July contract being around $7.30. Dr. Kim Anderson, Oklahoma State University Grain Marketing Specialist, says that central Oklahoma basis is about $.50 less than the KCBT July contract for 2012.
Anderson says he predicts the wheat prices for 2012 to be around $6.75 per bushel for the cash price, while the July contract will be around $7.25. Even with the uncertainty in the market right now, especially with drought conditions, Anderson says he thinks the ending stocks for 2012 will be around 761 million and production to be around 2 billion bushels.
As far as planting wheat this fall, Anderson says Oklahoma and Texas are not looking very good right now with only 30% of the wheat planted in Oklahoma, which is less than the average of 50%. Texas only has 25% planted versus their average of 50%. Kansas is doing fairly well with 43% planted, which is close to their average of 47%.
Click on the LISTEN bar below to hear the rest of Lyndall Stout and Dr. Anderson's converation on the June 2012 wheat price expectations.
Also this week on SUNUP, Larry Sanders discusses the Budget Control Act deadlines, the potential for spending cuts and possible Farm Bill revisions.
Next, Doug McKinney has an update on the Oklahoma Quality Beef Network and how drought has impacted OQBN management.
In Cow-Calf Corner, Glenn Selk details the nutritional requirements for calves.
Derrell Peel examines recent price increases in the livestock market, how drought is impacting the national supply picture and what to expect from the markets through the end of the year.
The Mesonet team has the new state water year data, which confirms it's been one of the driest periods ever. Plus, the outlook for precipitation and temperatures for the remainder of 2011.
In Shop Stop, Wayne and Randy demonstrate how to make a gate latch.
Finally, Dave Freeman explains how Oklahoma horse owners are coping with the drought.
Join us for SUNUP: Saturdays at 7:30 a.m. on your local OETA channel.
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