Agricultural News
Wheat Harvest Headlines This Week's SUNUP Show
Thu, 31 May 2012 16:58:53 CDT
Wheat harvest is, once again, the centerpiece of this week's SUNUP program with a visit to the Wedel family farm near Cordell. With a few delays for rain, harvest is progressing rapidly, and OSU small grains specialist Dr. Kim Anderson explains why prices have dropped.
"We had that rally of over a dollar for a couple of weeks and what we had was the index funds, they were record short on the wheat contracts. Over that week, a little over a week and a half time period they bought over 57,000 contracts, almost 300 million bushels of wheat. So we got a big rally strictly based on short coverage, not based on changes in supply and demand.
"Then we've got things going on like the harvest pressures. As our wheat moves north our yields are coming in slightly less than what was anticipated at the crop tours, but relatively good yields, good quality wheat."
"We've got the problems in the European Union and the Euro and because of those problems the value of the dollar is going up. That's making our wheat more expensive. You've got corn prices falling about 90 cents. All of those things are weighing heavy with pressure on the wheat for lower prices." (You can hear more of Kim Andersen's analysis by clicking here.)
In addition to more analysis from Kim Anderson, the coverage of the 2012 Wheat Tour at Lahoma will continue.
Shane Ferrell will discuss grain bin safety. Chad Godse will talk about soil moisture and Randy Taylor talks about the benefits of yield monitors.
In the Mesonet report, Al Sutherland and Gary McManus have details on the extreme wind speeds this week and a recap of May's record temperatures.
In Cow-Calf Corner, Glenn Selk looks at the impact of carcass dressing percentage on price.
Finally, a special tribute to Oklahoma winter wheat research and the 120th anniversary of the Magruder Plots. Robert Westerman, Brett Carver and Brian Arnall discuss the history and research at the site.
You can watch SUNUP Saturdays at 7:30 a.m. on OETA and on the web here and here.
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