Agricultural News
Kim Anderson Says USDA Report puts Foundation Under Grain Prices
Thu, 17 Jan 2013 17:01:48 CST
In a preview of his market analysis on this weekend's SUNUP program, OSU Grain Marketing Specialist Kim Anderson tells Lyndall Stout this week's USDA report has now set the foundation under grain prices.
"The foundation is good. They stopped the bleeding. The down trend has stopped. We may be starting a sideways pattern. If you look at that report, it was slightly bullish in both corn and wheat. I think it needs to be for both of those commodities. If you look at ending stocks and the quarterly stocks-slightly lower for the wheat and corn than the market expected. You look at the wheat plantings-all wheat plantings were less than the market expected. Hard wheat acres-less than the market expected.
"Now, some negative news was the soft red winter wheat planted acres were higher than expected, but overall I think it was good news for wheat and I think it was good news for corn relative to prices."
Anderson says corn and wheat are still very much linked in the market.
"I don't think what prices can go up by themselves. Wheat prices need some strength in corn and, as we've talked about, corn export demand has been weak. It continues to be weak. And the corn used for ethanol is less than expected. So there's some weakness in corn and that's going to hold wheat down a little bit. And those two commodities are still tied together."
You can hear more from Kim Anderson by clicking on the LISTEN BAR below. You can see his full analysis on this Saturday's SUNUP program at 7:30 a.m. on OETA. Also on this week's program:
--Justin Talley and Steve Hisel at the OSU Wheat Pasture Research Unit in Marshall will discuss lice infestation in cattle.
--In the Mesonet report, Al Sutherland and Gary McManus recap recent moisture totals and update the drought forecast.
--In Cow-Calf Corner, Glenn Selk offers advice on the stages of calving.
--Then, Gant Mouer has tips on adding value to cattle herds.
-Wayne Kiner and Randy Taylor demonstrate how to read an o-ring chart in Shop Stop.
-In Naturally Speaking, Dwayne Elmore explains the difference between even-aged and uneven-aged tree management for deer.
-Finally, SUNUP will visit Rogers County to highlight the Oklahoma AgrAbility Project with Sandra Stevenson and the Yang family.
You'll find archived SUNUP programs on the OSU website: http://www.sunup.okstate.edu, or on Youtube: http://www.youtube.com/sunuptv.
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