Agricultural News
Kim Anderson Says Market Finally Realizes Grain Stocks are Low
Thu, 26 Sep 2013 20:07:01 CDT
In his preview to this week's SUNUP program, Oklahoma State University Extension Grain Marketing Specialist Kim Anderson discusses the wheat market rally with Lyndall Stout.
"I think the market finally realized that hard red winter wheat stocks and, to a certain degree, all wheat stocks were relatively low."
He said that hard red winter wheat stocks are at 197 million bushels compared to 343 million last year and a five-year average of 337 million bushels. All wheat ending stocks were at 561 million compared to 718 million last year and 772 million for the five-year average.
He said prices were also buoyed by reports out of China that they will need to import more wheat, likely from the U.S. A frost in Argentina and the fact that Argentina no longer has any export means that Brazil will be in the market for more wheat. That, again, will likely mean more exports for U.S. producers.
Anderson says the USDA will release its quarterly stocks report Monday and that could have a big impact on markets.
"Look back over the last five years. We've had limit moves in those years especially in corn and beans."
He said that if the reports are much different from what the trade is now expecting, we could see some large moves in market numbers next week. You can listen to his full preview by clicking on the LISTEN BAR at the bottom of this story.
Also on SUNUP this week:
--Terry Bidwell and Dave Lalman discuss fall hay meadow management and its impact on cattle nutrition.
--In the Mesonet report, Al Sutherland and Gary McManus look at the trend toward cooler conditions, solar radiation levels and the summer temperature recap.
--In Cow-Calf Corner, Glenn Selk explains the risk of prussic acid poisoning from grazing Johnson grass.
--Derrell Peel tells us about the new USDA Cattle on Feed report.
--Then, a one-on-one interview with Sonny Ramaswamy, director of the USDA's National Institute of Food and Agriculture, during his recent visit to OSU.
--In Food Whys, Peter Muriana has an overview of the benefits of probiotics.
--Finally, SUNUP closes with highlights from the Tulsa State Fair, which runs through Oct. 6.
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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