Agricultural News
Grain Markets Idling While Waiting for Crop Data, Anderson Says
Thu, 31 Jan 2013 17:58:50 CST
In a preview to this week's SUNUP program on OETA, OSU Grain Marketing Specialist Kim Anderson tells Lyndall Stout that grain markets stayed steady this week, biding their time and waiting for more solid indications of what the future holds in grain-producing areas.
"I think the good news is that prices didn't go down this week. Wheat prices were up about six cents. Corn prices were up about nine. They held the spread. If you'll look at, say, the March-December spread for wheat, it's plus about 40 to 45 cents. On corn, it's got a negative spread from March to December of about a dollar and 50 cents. So, the markets are telling us the wheat price is expected to go up as we go into the next crop year and corn prices are expected to go down."
Traders were mostly watching foreign markets this week, Anderson said, with India getting a lot of attention.
"They may be harvesting their seventh record crop in a row. Of course, their harvest will start about the first of March, sometime in that time period.
"They're watching Russia and the Ukraine. They've had very cold weather there--some potential freeze damage on the wheat. Remember, we talked about a couple of months ago that their planted acres were less than last year, so we're looking at reduced production there."
Anderson says the market is really in a holding pattern waiting for the end of February and the first of March until wheat gets planted in Argentina and wheat in the United States comes out of dormancy.
Also on SUNUP this week:
--Jeff Edwards discusses winter wheat conditions across Oklahoma and has advice on top dress application.
--In Cow-Calf Corner, Glenn Selk explains the causes of calf scours, and offers prevention and treatment tips.
--Daren Redfearn looks at the impact of grazing management on forage stand development and regrowth.
--Gant Mourer has an update on the Oklahoma Quality Beef Network and invites viewers to the spring OQBN sales.
--In the Mesonet report, Al Sutherland recaps this week's rainfall totals and temperature changes, and Gary McManus looks at January rainfall statistics.
--Then, Dwayne Elmore talks about the growing wild hog problem in Oklahoma and encourages landowners to attend an upcoming workshop in Osage County.
--In Shop Stop, Wayne Kiner and Randy Taylor demonstrate how to determine the size and gauge of leftover bolts.
-Finally, SUNUP visits the class where 4-H Extension educators from across Oklahoma are learning how to teach science in a fun way. Interviews include Jeff Sallee, Rick Clovis and Shane Robinson.
You can see sunup at 7:30 a.m. Saturday on OETA.
WebReadyTM Powered by WireReady® NSI
Top Agricultural News
More Headlines...
