Agricultural News
Corn and Wheat Prices Fall after WASDE Report- and we have your SUNUP preview
Fri, 11 Nov 2011 09:09:11 CST
With the latest World Agricultural Supply and Demand Estimates report coming out, the prices for many commodities fell across the board. Dr. Kim Anderson, Oklahoma State University Grain Marketing Specialist, analyzed the report and exactly what these changes mean for wheat and corn prices.
There were only a few changes when it came to the U.S. wheat market. The ending stocks were lower than 9 million bushels and small changes in hard red winter wheat and spring wheat numbers.
Anderson says while there weren't many changes in the U.S. wheat market, when you look at the world report, they increase the world production of wheat in Morrocco and many other countries. Anderson says most of that wheat will go into the feed system and world ending stocks increase, which has a negative impact on prices.
When it comes to corn, the corn ending stocks were lowered to about 100 million bushels and production and prices lowered as well. Anderson says these drops in prices really aren't because of the WASDE report but because of the world numbers and the financial problems occuring in multiple countries like Italy, Greece and others in the European Union.
Click on the LISTEN bar below to hear the rest of Austin Moore and Dr. Anderson's conversation on the changes in wheat and corn prices.
Also, this week on SUNUP, we travel to Tillman County to talk with Rocky Thacker about the tornado damage at the OSU Southwest Agronomy Research Station. We also visit with Rick Smith from the National Weather Service.
Next, Paul Weckler shows you how to recognize earthquake damage to your home and property.
In the Mesonet report, we see how the tornadoes damaged two weather reporting sites and how this week's rainfall improved soil moisture levels.
Then, we stop by the OKC West Stockyards in El Reno to discuss the drought's impact on the Oklahoma Quality Beef Network program with Doug McKinney, Kellie Raper and Derrell Peel.
In Cow-Calf Corner, Glenn Selk explains bull-cow ratios for breeding season.
In Shop Stop, Randy Taylor and Wayne Kiner demonstrate how to prep metal for painting.
Finally, Terry Bidwell offers advice on maintaining your pond while water levels are low and where property owners can go for engineering and layout help.
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