Agricultural News
OSU Grain Guru Kim Anderson Talks Wheat Market Outlook- A Part of the First Show of the New Year on SUNUP
Fri, 04 Jan 2013 05:32:40 CST
Extension Grain Marketing Economist Dr. Kim Anderson is talking this week on SUNUP with Lyndall Stout about the recent drop in wheat prices. Much of the fall, the wheat market was stuck in a trading range- and in the final weeks of 2012- when it finally broke out of that trading range- it broke to the down side.
Dr. Anderson believes a lot of the breakout came because of commodity funds reducing their exposure to wheat and other ag commodities. In the case of wheat- it seems like market players perceived we have "enough wheat" and and sold- causing the fall in the market even as the southern great plains has tremendous concerns about the 2013 crop.
Support levels currently for wheat are $8.00 for Kansas City March contracts- and about $8.20 for Kansas City July- in both cases- Dr. Anderson points out we are holding just above those levels. If we break below those supports in the near term- there is likely another fifty cents down in the wheat market before new support would kick in. Eventually, the market will be paying attention to new crop woes- if they remain- but that is not likely until time for the crop to break dormancy.
You can watch Kim and Lyndall on Saturday morning on SUNUP- or you can take an early listen to Kim's comments as we trade wheat ahead of the weekend by clicking on the Listen Bar below. Beyond her regular conversation with Kim Anderson- Lyndall and her SUNUP team have a great lineup for this first show of 2013:
This week on SUNUP, we gain historical perspective on dry conditions in Oklahoma with Eric DeVuyst and Gary McManus.
-In Cow-Calf Corner, Glenn Selk talks about the advantages of including a limit-feeding schedule with night feeding.
-Kim Anderson discusses the drop in wheat prices and what investors can expect in the first weeks of the new year.
-In the Mesonet report, Al Sutherland and Gary McManus show us year-end moisture levels, the number of hours below freezing, the 30-day temperature and rain outlook, and the latest drought monitor.
-Then, Rodney Jones and Brian Arnall have a preview of DASNR's new website that offers tips on land lease agreements. Shannon Ferrell then explains why a written lease is important legally.
-In Shop Stop, Randy Taylor and Wayne Kiner describe the benefits of using a battery maintainer.
-Finally, Jeff Sallee and OSU students Carrie Winslett, Sara Young and Brian Barton share their experiences traveling to Nicaragua as part of a 4-H trip to teach others about agriculture.
SUNUP is seen Saturday mornings on the OETA system across Oklahoma.
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