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Agricultural News

Anderson Says Grain Markets a Little Surprising on WASDE Report

Thu, 12 Apr 2012 18:12:24 CDT

Anderson Says Grain Markets a Little Surprising on WASDE Report
Dr. Kim Anderson, OSU's grain marketing specialist says with the exception of corn, grain stocks in the recent WASDE report were right about where analysts had pegged them to be. Trade estimates had corn at 721 million bushels, but it came in at 801 million bushels. Wheat and soybeans were right on targets.

So, how did the markets react?

"Probably not according to expectations," Anderson said. "Corn, the day of the report, really didn't do much. It was down 25 cents the next as you'd expect it to be. Beans were slightly higher, as expected. Wheat down 21 cents and with the report coming out at expectations, that was kind of a surprise."

Anderson says the short-term surprises will continue, but overall, he thinks his prediction of prices at harvest time will hold true."

"We don't have a clue where prices are going. We have an idea of the ranges. I've been predicting a cash price at harvest of $5.75 I still think that's going to be relatively close for central Oklahoma."

You can hear more of Dr. Anderson's preliminary evaluation of the WASDE report and where prices are headed by clicking on the LISTEN BAR below.

In addition, this week on SUNUP, Jeff Edwards looks at factors impacting the current wheat crop including lodging, hail, freeze damage, disease and insects.

-In the Mesonet report, Al Sutherland compares this year's weather data to the same period last year, and explains why we're currently experiencing an optimal growing season.

-Derrell Peel talks about the leveling out of cattle prices and looks at how publicity about lean finely textured beef is impacting the market.

-In Cow-Calf Corner, Glenn Selk explains the ideal time for artificial insemination after heat detection.

-Kim Anderson discusses the latest supply and demand report and the decline in wheat prices, and has advice on developing a marketing plan for this year's crop.

-In Shop Stop, Randy Taylor and Wayne Kiner have tips on maintenance for casters found on mowers and other farm equipment.

-Larry Sanders analyzes the latest data on the changing demographics of Oklahoma agriculture.

-Finally, the program will showcase Made in Oklahoma month with a feature on how Suan Grant worked with Andrea Graves of the Robert M. Kerr Food and Agricultural Product Center to develop her signature scotch bonnet pepper jelly.

You can see SUNUP Saturday mornings at 7:30 a.m. on your OETA channel.


Kim Anderson talks about market response to the WASDE report.
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