Kim Anderson Lays Out Marketing Strategies for Recently-Harvested WheatThu, 20 Jun 2013 18:18:14 CDT
In his audio preview to this week's SUNUP show, Oklahoma State University Extension Grain Marketing Specialist Kim Anderson talks about marketing plans for this year's wheat crop. He says prices this year are about a dollar higher this year over last year and that dictates a different strategy.
"If you compare them to last year, it was almost the same supply and demand situation projected. Ending stocks were slightly below average for the U.S. and the world. We've got prices 80 cents higher than they were last year. Also, one of the surprises is that the basis for last year was -30 or -40 cents under the July-September contract. This year, in parts of the state, it's even or seven cents less. In other words, the basis is 20 to 25 cents, maybe even 30 cents in some areas, higher than last year."
Anderson says he thinks the prices are higher because the corn stocks are so tight. He also said that there may be increased competition among elevators in Oklahoma and Texas.
"They've only got one shot to get grain in their bin and that's at harvest. They have one shot to be competitive."
In the current climate, Anderson says he would sell half his crop now and store half to see where the markets go. Click on the LISTEN BAR at the bottom of this story to hear Kim Anderson's full conversation with Dave Deken.
Also on this week on SUNUP:
--Jody Campiche talks about the farm bill and the next steps in the process.
--In the Mesonet report, Gary McManus tracks moisture levels for the current water year.
--Jeff Edwards looks at the progress of wheat harvest statewide.
--SUNUP catches up with Brad Tipton and others in Canadian County to discuss tornado damage and profile a group of young people helping farmers clean up debris in fields.
-In Cow-Calf Corner, Glenn Selk discusses the Oklahoma Gold and SuperGold programs for feeding heifers.
-Derrell Peel explains how beef import and export markets are currently performing.
-In Shop Stop, Randy Taylor and Wayne Kiner have a quick fix for equipment that regularly needs a jump-start to its battery.
--Finally, Dan Stein, Bob Kropp, Megan Rolf and Steve Whitmire tell viewers about the mission of the Beef Improvement Federation.
Catch SUNUP Saturdays at 7:30 a.m. & Sundays at 6 a.m. on OETA-TV or online at www.sunup.okstate.edu or www.youtube.com/sunuptv
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