Agricultural News
Prices and Protein Premiums Important for Wheat- and we have your SUNUP preview
Thu, 20 Oct 2011 17:12:09 CDT
Dr. Kim Anderson, Oklahoma State University Grain Marketing Specialist, and Lyndall Stout sat down to discuss the changes in wheat prices, how protein premiums can help prices and the impact of the foreign wheat on supply levels and prices here in Oklahoma and in the U.S.
While cash prices in general are "wallowing around" says Anderson, if you look at the Kansas City Board of Trade December contract, it has been trading at a low of $6.88 to a high of $7.22. And if you look at the closes on that December contract, it is from $7.01 to $7.14. Anderson says there has been a $.13 spread in price over the last week, while the Oklahoma basis has been fairly stable.
And with Australia beginning harvest of hard white wheat, they are expecting a record crop but anticipating below average in proteins says Anderson. However, if you look at the European Union harvest, they were expecting relatively low yields and poor quality and ended up having average yields and better quality. Anderson adds that for this reason, producers need to keep an eye on Australia as they begin harvest.
Click on the LISTEN bar below to hear the rest of Lyndall and Dr. Anderson's conversation on wheat prices, proteins, and more.
Also, this Week on SUNUP, we travel to the shores of Lake Altus-Lugert and also attend the annual Governor's Water Conference in Norman. We look at how the lake's water levels impacted the cotton crop with producer Mark Nichols. Then, we talk about Oklahoma's diverse water landscape and the newly-approved Comprehensive Water Plan with Bob Fabian.
Next, we continue our coverage in Harmon County, in the field as producer Robert Williams talks about recent rain and sows wheat for grazing.
In the Mesonet report, the team discusses the first frost and how frost is formed.
In Cow-Calf Corner, Glenn Selk teaches us how hay quality changes protein and energy supplement amounts.
Derrell Peel looks at how the drought and lack of pasture is impacting typical fall sales and why the market is seeing changes in demand for choice and select beef.
In Shop Stop, Randy and Wayne suggest a good variety of items to help you stock a trailer utility toolbox.
Finally, we're in the field with researchers Don Turton and Rod Will, as they examine how Eastern redcedar trees use water.
Catch SUNUP on Saturdays at 7:30 a.m. on OETA.
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