Canadian HRW Wheat Imports into Panhandle Feedlots Catches Analysts by SurpriseThu, 09 Aug 2012 17:32:22 CDT
The latest supply and demand numbers from the USDA are out, but, even before the numbers came out, many analysts doubted they would be accurate. OSU Grain Marketing Specialist Dr. Kim Anderson says in this week’s preview to SUNUP that the consensus was that the USDA would underestimate production.
“I think it’s going to be Monday or Tuesday as the market comes in and truly evaluates what the report said on corn and how it compares to their survey. And then prices will probably settle out after that.”
Anderson said that on the wheat side of the board this week, there was a big surprise.
“I think the big news on wheat is the 1.6 million bushels of hard red winter wheat that was bought from Canada that was shipped down into the Texas-Oklahoma Panhandle area for livestock feed. The general consensus on that is that the elevators that had forward contracted that wheat with the feedlots that they could get the hard red winter wheat with lower protein from Canada, save their protein wheat. If you’ll look at the spread between Sep and Dec, it’s 22 cents. There’s you some storage for it. And if you’ll look at the protein premium from ordinary to 11.2, it’s 10 cents a bushel. From ordinary to 11.4, which I’m sure they’ve got 11.4 or better, it’s 20 cents a bushel. So, they’re picking up about 45 cents there to store their wheat into December and this allows them to do it.”
Anderson will have more on this week’s SUNUP program and also featured will be:
--A trip to Adair County for a stream bank restoration project with a landowner who has lost a significant portion of his hay meadow to erosion. OSU's Jeri Fleming and Gina Levesque of the Oklahoma Conservation Commission join the conversation.
--Al Sutherland recaps the recent extreme temperatures and previews Mesonet's updated website. And Gary McManus looks at quarterly rainfall totals and the updated drought monitor.
--Jody Campiche talks about changes to several popular farm programs and has reminders about important insurance deadlines.
-In Cow-Calf Corner, Glenn Selk explores why high summer temperatures could cause calves to arrive early.
--In Shop Stop, Wayne Kiner and Randy Taylor have tips on selecting the best shop vacuum .
-- West Nile Virus in horses with will be discussed by Lyndi Gilliam, DVM. Then, Justin Talley offers mosquito prevention and control options.
--Finally, a reminder for viewers about SUNUP's scheduled break for the next two weeks for special OETA programming. SUNUP will return with an all-new show Saturday, Sept. 1.
Catch SUNUP Saturdays at 7:30 a.m. on OETA. You can see archived programs on the OSU website by clicking here. They are also available on Youtube by clicking here.
WebReadyTM Powered by WireReady® NSI
Top Agricultural News