Agricultural News
Anderson Says Grain Markets Reacting Cautiously to Possibility of Freeze Damage
Thu, 11 Apr 2013 16:42:48 CDT
Freezing temperatures this week across parts of the Southern Plains have farmers worried that significant damage may have been done to this year's wheat crop. In his preview to this week's SUNUP program, OSU Grain Marketing Specialist Kim Anderson says the markets are reacting cautiously.
"I think we did have some freeze damage. Jeff Edwards talked about the damage a couple of weeks ago. And we had some additional damage this last week. But I think this is a case of moisture trumping the freeze. We're going to lose some yields because of the freeze. There was some talk as you get up into Kansas of it not being as mature as it was last year and that's good. But we got moisture in critical areas for hard red winter wheat up through north central Oklahoma, up through central Kansas and I think the market looked at that and said, 'The increased yield because of that moisture is going to be more than the lost yields due to the freeze."
Anderson says the supply and demand numbers released this week had very little effect on the markets.
"What we had there was neutral wheat, negative to neutral at the corn, and the soybeans neutral."
Anderson says we are currently in a highly-variable weather market and his price projection for June 20th wheat is $6.75 per bushel.
Also on SUNUP:
--Jeff Edwards talks about freeze damage in wheat.
--In the Mesonet report, Al Sutherland and Gary McManus analyze the cold temperatures and update moisture levels.
--The team travels to Ottawa County to tour J-M Mushrooms and visits with the Jurgensmeyer family. As we see the food processing part of the operation, Jason Young with the Robert M. Kerr Food and Agricultural Products Center weighs in on food safety protocol.
--In Cow-Calf Corner, Glenn Selk explains how to properly give injections.
--Finally, viewers are introduced to the 2013 DASNR Champions: Bob Hamilton, Dave McLaughlin and Linda Shackelford.
Catch SUNUP Saturdays at 7:30 a.m. & Sundays at 6 a.m. on OETA. Archived programs are available online at: http://www.sunup.okstate.edu and http://www.youtube.com/sunuptv.
WebReadyTM Powered by WireReady® NSI
Top Agricultural News
More Headlines...
