Agricultural News
Anderson Says Recent WASDE Report Basically a Stand-Still Report
Thu, 13 Sep 2012 17:57:35 CDT
On this weekend's SUNUP show, Kim Anderson, OSU Small Grains Marketing Specialist, goes over the recently-released WASDE numbers. He tells Lyndall Stout the report was basically a stand-still report.
"There just wasn't much in the report. They didn't change the wheat U.S. numbers at all. On the world wheat situation they lowered production a little bit, lowered ending stocks a minute amount. No impact on wheat prices. On corn, the production was above the expectations, pre-release expectations, and ending stocks were above pre-release expectations. Corn prices were initially down a little bit, but they are leveling out. It's really a null event on this report."
Anderson says the market is in a holding pattern, looking for some impetus to move one way or the other.
"The market's looking for some direction. There's really nothing out there right now to change prices. At Kansas City, I think that December contract is going to continue to trade between $8.69 and $9.57 percent. That sideways pattern has really narrowed up to plus or minus 25 cents from nine dollars.
"Corn really has no reason to go higher. It may work just a little bit lower. There's just not much information out there. I will say that one report said that the corn yields and production is coming in a little higher than expected."
"The price is set on Friday. It's about $8.74, right in that range. We'll know the middle of next week. And, of course, sign up is by October 1st."
In addition to Kim Anderson's commentary, this week's show will feature:
-- Brian Arnall demonstrates the hand-held Greenseeker. Then, Randy Taylor teaches producers how to build a small nitrogen-rich strip applicator.
--In Cow-Calf Corner, Glenn Selk talks about the importance of vitamin A and how to ensure it is in a cow's diet.
--In Shop Stop, Randy Taylor and Wayne Kiner show viewers how to properly cut metal.
--Derrell Peel explains how this year's drought is impacting cattle markets.
--In the Mesonet report, Al Sutherland explains the cattle comfort index and has the latest drought conditions.
--Finally, OSU bids a fond farewell to Don Arnold, as he retires after 50 years of service to the Department of Entomology and Plant Pathology.
Catch SUNUP Saturdays at 7:30 a.m. on OETA. You can also watch archived programs on the OSU website by clicking here. They are also available on Youtube by clicking here.
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