Agricultural News
Kim Anderson Reviews Wheat Stocks And Explains This Week's Declining Prices
Thu, 29 Mar 2012 18:51:02 CDT
Kim Anderson, OSU's grain marketing specialist says world wheat stocks are already high and, with good growing conditions across the country, he is expecting ending stocks to be even higher. He says we are already seeing significant downward pressure in prices. He tells SUNUP's Lyndall Stout they broke this week and are down around 40 cents. Looking at the Kansas City July contract, he says it's on its way down as well.
"It broke its support level late in the week at $6.70. The next support level is down around $6.40. If it breaks that, we may have another 50 cents down.
Anderson said farmers on the Northern Plains are making some strategic changes in advance of spring planting that will also affect wheat prices.
"In the spring wheat area I saw a report from North Dakota that said there were about $135 an acre potential profit with corn and about $35 an acre potential profit in spring wheat and I think that's why we're seeing those potential wheat acres going to corn. It's just a good economic decision."
You can listen to an audio preview of Lyndall Stout's discussion with Kim Anderson by clicking the LISTEN BAR below or watch the full interview on this weekend's SUNUP on your local OETA station.
This week on SUNUP, Josh Bushong and Bob Hunger have a progress report on wheat and canola, and discuss insect and disease treatments.
-In the Mesonet report, Gary McManus explains why a late freeze isn't likely this spring, and Al Sutherland takes a look at the average soil temperatures.
-We travel to the Eastern Oklahoma Beef Cattle Summit in McAlester, where Claude Bess, Brian Freking and Stan Bevers (Texas A&M) have advice for producers rebounding from drought.
-Derrell Peel analyzes the high beef prices and updates the progress of drought recovery.
-In Cow-Calf Corner, Glenn Selk talks about multiple births and keeping records on a freemartin heifer, which is an infertile heifer that is twin to a bull calf.
-In Shop Stop, Randy Taylor and Wayne Kiner demonstrate the use of clecos to clamp pieces together while working on metal.
-Finally, we showcase the 2012 DASNR Champions honored this week.
SUNUP airs at 7:30 a.m. on OETA.
Click here for more SUNUP on the OSU website.
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