Markets Shrug at Latest WASDE Report, Kim Anderson SaysThu, 15 Aug 2013 19:53:47 CDT
There have been several trading days since the WASDE report came out on Monday, and Oklahoma State University Small Grain Marketing Specialist Kim Anderson says in his preview to this weekend's SUNUP show that the reaction in the markets was rather "ho hum."
"I don't think there were any surprises in the report. You've got record world wheat production at 25.9 billion bushels. You've got a record U.S. corn crop that was less than the market expected at 13.76 billion bushels. Corn ending stocks were 1,480,000,000 bushels, slightly less than expectations. And wheat ending stocks for next year were projected to be 551,000,000 bushels which was relatively below.
"You look at what's happened in the world on those reports over the last couple of months, I think they've all been positive pricewise, maybe a little negative for corn, but not much. Definitely positive for wheat."
Anderson said the trade since the WASDE report was released tends to indicate the numbers were as traders expected them to be.
Also on SUNUP this week: a look at cattle inventories, recent rainfall and marketing to the next generation of beef consumers with Clint Rusk, Michael Kelsey and Forrest Roberts report from the 2013 Oklahoma Cattlemen's Association Annual Convention and Trade Show.
--Then, Derrell Peel looks at weather and hay conditions, and livestock inventory estimates and prices.
--In Cow-Calf Corner, Glenn Selk explains why gestation times may be shorter leading into fall calving season.
--SUNUP travels to Major County for a sorghum field day with Jeff Bedwell, Sue Ann Claudon and Rick Kochenower. Then, Roger Gribble gives timely management advice for double-crop fields.
--In the Mesonet report, Al Sutherland analyzes the rainfall totals from the past month.
--In Shop Stop, Randy Taylor and Wayne Kiner demonstrate a nifty way to remove difficult-to-reach bolts and spark plugs.
--Next, SUNUP visits Okfuskee County to see a new tool for landowners interested in prescribed burning.
--Finally, Terry Bidwell identifies common plants found in native meadows, in Naturally Speaking.
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
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