Agricultural News
Wheat Producers Should Keep an Eye on Foreign Production Numbers, Anderson Says
Thu, 23 May 2013 16:53:09 CDT
In his weekly analysis of grain markets for the SUNUP program, OSU Grain Marketing Specialist Kim Anderson says the just-released foreign wheat production numbers bear some watching by producers here in the U.S. Estimates for production in the European Union and in the former Soviet Union have been raised, causing concerns in this country.
"Since they will compete with us this next marketing year, I think we've got to watch the foreign wheat production in that the USDA is predicting a record wheat crop for the world and they're not predicting a record for consumption, so I think we'll see some building of stocks on the world market this year."
He said corn planting had been running way behind schedule, but producers planted a record 42 million acres last week. "Producers have just worked miracles if they can get that in. Of course, corn prices have backed off a little bit after that report came out and that bleeds over into the wheat market."
Anderson said there is some question whether producers up north will be able to get as many acres of spring wheat planted as they had hoped, and this may help buoy wheat prices.
He said grain elevators have increased their basis over the July futures contract and local producers can forward contract this year's crop in the $7.20-$7.25 per bushel range.
Also this week on SUNUP:
--Noble County 4-H member Julie Gunsaulis talks about a tornado relief effort to collect livestock feed and other animal supplies.
--James Trapp explains the resources available through OSU Extension to help those recovering from the storm (http://dasnr.okstate.edu/tornado).
--Al Sutherland also discusses the tornado in the Mesonet report.
--Next, Jody Campiche updates viewers on the progress of the farm bill.
--Bob Hunger describes wheat streak mosaic, a viral disease he has spotted recently in Oklahoma.
--Derrell Peel looks at beef demand and the latest market trends.
--In Cow-Calf Corner, Glenn Selk has advice on preparing your cattle operation for severe weather and how to protect livestock after a storm hits.
-Finally, SUNUP returns to the North Central Research Station Field Tour at Lahoma for a canola crop update with Josh Bushong.
Catch SUNUP Saturdays at 7:30 a.m. & Sundays at 6 a.m. on OETA-TV or online at
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