Agricultural News
Hurricane Sandy Rips East Coast; Grain Markets Unaffected
Thu, 01 Nov 2012 16:26:20 CDT
Hurricane Sandy had a big impact on the East Coast of the United States this week, but OSU Grain Marketing Specialist Kim Anderson said the storm had very little impact on grain markets. In a preview to this weekend's SUNUP show, Anderson told Lyndall Stout there were those who were hoping the hurricane would actually help U.S. grain producers.
"We've got the drought area that could have used some of the moisture it brought in, but the moisture didn't move far enough west to alleviate any of the drought that is in the U.S. winter wheat area."
Anderson said the hurricane didn't seem to move the market out of the sideways pattern it has been in for months.
"The markets are just in the doldrums. If you look at the wheat market, Kansas City Board of Trade December, we've talked about it really since Friday the 13th in July, that it moved into a sideways pattern between $8.69 and $9.57 and it hasn't moved out of it since. Right now we're right in the middle of it and there's no indication it's going to break that sideways pattern any time soon."
Anderson said wheat prices this year compared with last year are showing some nervousness about next year's crop.
"The market is concerned about the 2013 wheat crop. You can see that on the Kansas City Board of Trade December contracts. If you'll look at the December 13 contract, it's at a 20-cent premium to the December 12 contract. In other words the market is expecting us to not be able to rebuild wheat stocks next year."
You can hear more of Kim Anderson's analysis by clicking on the LISTEN BAR below or catching him on SUNUP this Saturday. Also on this weekend's show:
- Jeff Edwards has a progress report on winter wheat, and offers weed identification and management advice.
-In Cow-Calf Corner, Glenn Selk explains how to sort cattle according to age and nutrition needs for more efficient winter feeding.
-Craig McKinley helps viewers decide whether to save or remove drought-damaged trees.
-In Shop Stop, Wayne Kiner and Randy Taylor cover the steps needed to winterize a lawnmower.
-In the Mesonet report, Gary McManus recaps October temperatures and rainfall, and shows us the 30-day outlook.
-Nathan Anderson demonstrates the proper way to pull a hay sample to send to the lab for testing.
-Finally, viewers are invited to the upcoming Pesticide Removal Days in Beckham and Washington counties.
Catch SUNUP Saturdays at 7:30 a.m. on OETA. You can also watched archived shows on the OSU website by clicking here. They are also available on Youtube by clicking here.
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