Agricultural News
Wheat Prices Could Drop Another 30 Cents, Anderson Says
Thu, 05 Sep 2013 16:12:42 CDT
In a preview to his segment on this weekend's SUNUP show, Oklahoma State University Grain Marketing Specialist Kim Anderson discusses trends in the grain markets and whether producers should sell their stored wheat or hang on longer.
He says soybean and corn markets jumped higher this week, but wheat didn't follow that trend.
"The basic thing going on there is just the weather." He says low stocks and poor weather in soybean country are leading to lower harvest estimates. "They're starting to ration soybeans right now," he says.
Corn supplies are more than ample and will be after harvest. Anderson says that what could happen for the next production year is a shift from corn to beans with prices fluctuating to match.
Wheat markets are a separate case and are trading at the bottom levels of a sideways pattern and could be set to break lower.
"It's back down to that $6.93 level; it's challenging that support price. If we break through that and we trade below that $6.93 next Monday or Tuesday, then I think we're good for another 30 cents down."
-Kim Anderson explains the direction wheat prices are trending and whether producers should sell their stored wheat.
Also on this week's SUNUP:
--Extension's new Weed Science Specialist Angela Post looks at weed control during the fall planting season. Plus, there will be a discussion of how weeds are reacting after the prolonged drought followed by a rainy summer.
-In Cow-Calf Corner, Glenn Selk offers tips on evaluating replacement heifer body condition scores for optimal spring calving potential.
-Next, Dan Stein discusses the various ways to check a cow for pregnancy, as producers gear up for fall calving.
-In the Mesonet report, Al Sutherland and Gary McManus recap August rainfall and temperatures, and look at the current rate of plant water use.
-In Shop Stop, Wayne Kiner and Randy Taylor demonstrate the best way to maintain batteries.
-SUNUP introduce viewers to OSU freshman Mattie Canaday, an Oklahoma 4-H Foundation scholarship recipient from Canadian County, who decided to become a Cowboy after attending 4-H Roundup. Afterward, Tom Manske talks about the work of the 4-H Foundation.
-Finally, in Naturally Speaking, Dwayne Elmore explains how use wheat to create and manage food plots for deer.
Catch SUNUP: Saturdays at 7:30 a.m. & Sundays at 6 a.m. on OETA-TV at http://www.sunup.okstate.edu or http://www.youtube.com/sunuptv
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