Anderson Says Grain Prices Testing Bottom Supports and Could Drop LowerThu, 22 Aug 2013 15:54:47 CDT
In this week's preview to the SUNUP program, Oklahoma State University Small Grain Marketing Specialist Kim Anderson says there's a lot going on in the markets, but there's not a lot happening with prices.
"You look at the corn crop-we may be fixin' to harvest a 14-billion-bushel corn crop here in the United States. They are already cutting in the extreme southern parts of the United States. You've got reports in Canada that they're fixin' to harvest the biggest wheat crop in the last 20 years. That's going to bring some protein on the market to compete with ours. They're talking about a record canola crop in Canada. Reports this week said that Australia's crop is going to be below average or the odds are that it will be below average and less than the last couple of years. You just have a lot going on around the world that has the potential to impact price, but there's just no price movements."
He said the Kansas City and Chicago September and December contracts are moving in a 20- to 25-cent price range with most of the movement recently at the bottom end of that range. He said if the market continues to hammer on that bottom support, prices could break lower. You can hear the rest of Kim Anderson's analysis by clicking on the LISTEN BAR at the bottom of this story.
Also on SUNUP this week:
--SUNUP explores the Plant Variety Protection Act with Jeff Edwards and talk about variety availability with Roger Osburn.
--In the Mesonet report, Al Sutherland and Gary McManus discuss the rain our state has seen in the past 90 days.
--In Cow-Calf Corner, Glenn Selk discusses the length of time to wait before intervening in a cow's labor.
--Then, SUNUP heads to the North Range Research Station with Dave Lalman and Terry Bidwell to discuss the options for dealing with pasture weeds.
--In Shop Stop, Randy Taylor and Wayne Kiner offer a method for removing a stuck bolt.
--Finally, in Naturally Speaking, Dwayne Elmore explains the legal considerations of manipulating fields for Mourning Dove hunts.
Catch SUNUP Saturdays at 7:30 a.m. & Sundays at 6 a.m. on OETA-TV or online at http://www.sunup.okstate.edu or http://www.youtube.com/sunuptv.
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