Wheat Prices Drop and Latest WASDE Report is Out - and we have your SUNUP previewThu, 15 Dec 2011 15:55:37 CST
The latest World Agricultural Supply and Demand Estimates Report has been released and wheat has dropped below $6.50 in Kansas City. Dr. Kim Anderson, Grain Marketing Specialist, takes a look at the change in prices and says that it is a significant change in the market.
Anderson explains that over the last six weeks, there has been significant support of the $6.50 price and looking ahead it is difficult to tell how far it can fall from that $6.50 level. Anderson adds that this happened during the holiday season and the trading and volume is light, which is another item to take into account.
As we look into 2012, Anderson predicts that we are going to continue to see weakness in prices, especially if we get those timely rains in Oklahoma, Texas and Kansas. Anderson says that there is a lot of wheat around the world and that is going to weigh heavy on the market.
Click on the LISTEN bar below to hear the rest of Austin Moore and Dr. Anderson's conversation on the wheat prices and WASDE report.
Also, this week on SUNUP, Terry Bidwell discusses cedar chipping as an alternative to burning Eastern redcedar to protect homes and property from wildfires.
In the Mesonet report, Al Sutherland and Gary McManus recap the recent rainfall totals, compare this month to the same period last year and update the statewide moisture averages.
Next, Damona Doye helps producers organize year-end finances and talks about the Extension programs available for farm and livestock management.
In Cow-Calf Corner, Glenn Selk has feeding recommendations for replacement heifers.
Derrell Peel analyzes the November spike in the feeder cattle market and the increased consumer demand for beef during the holidays.
Jody Campiche reminds producers about drought disaster assistance, SURE applications and a new online tool from the USDA Farm Service Agency.
We conclude with Shop Stop, featuring Randy Taylor and Wayne Kiner demonstrating ladder safety tips.
Catch SUNUP on Saturdays at 7:30 a.m. on OETA.
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