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Agricultural News

Report Predicts Lower Wheat Production, India May Fill the Gap, Anderson Says

Thu, 26 Apr 2012 18:51:52 CDT

Report Predicts Lower Wheat Production, India May Fill the Gap, Anderson Says

Dr. Kim Anderson, grain marketing specialist for OSU, says a new report indicates world wheat production is lower than expected. While it is just one among several reports which indicate greater than expected production, he says it does bear watching.

"If you look at the major exporters their production was estimated to be down 6.5 percent. I think that's good for the United States. Argentina, Australia and the former Soviet Union were all down about 13 percent, and the EU 27 were down about five percent. Now it's a long time before we get into that '12-'13 marketing year and a lot can happen in that time period."

He says a good harvest in India could exert downward pressure on prices.

"India's harvest will be done about the time ours gets started. They're having another record wheat crop. There are some reports that say that they will export wheat and they should have that wheat in export position as we have ours in an export position and that will create some competition and maybe some potential lower prices for us."

Click on the LISTEN BAR below to catch more of the preview of Dr. Anderson's analysis of this week's grain markets and be sure and watch his full interview with Lyndall Stout on this weekend's SUNUP.

Also on this weekend's show:

--Dave Sparks describes the current isolated case of Bovine Spongiform Encephalopathy (BSE) and how this form of the disease differs from earlier cases.

--Derrell Peel looks at how BSE news impacted cattle markets.

--In the Mesonet report, Al Sutherland and Gary McManus analyze soil temperatures and show us six-month rainfall totals.

--In Cow-Calf Corner, Glenn Selk talks about feeding trends with OSU alumni Rick Rasby, who is now an Extension cattle specialist at the University of Nebraska.

--Jody Campiche updates viewers on the latest draft of the 2012 Farm Bill.

--Finally, in Shop Stop, Wayne Kiner and Randy Taylor demonstrate lawnmower blade maintenance.

SUNUP airs Saturday mornings at 7:30 on OETA.

Click here to go to the SUNUP website.

You can catch previous editions of SUNUP by clicking here.



Anderson says Indian wheat harvest may pressure wheat prices lower.
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