Agricultural News
Supply and Demand Reports Negative for Corn and Wheat, Anderson Says
Thu, 12 Sep 2013 17:22:48 CDT
The latest WASDE report is out and Oklahoma State University Extension Grain Marketing Specialist Kim Anderson provides a breakdown of the report for this week's SUNUP.
He says there isn't much change from last month in terms of production of wheat in the U.S., but the world production was increased to just above 27 billion bushels and that will have a negative impact on prices.
Even though ending stocks will be slightly less than what the industry had predicted and less than last year, Anderson says, "The market impact? Zilch-essentially no impact at all. The market was trading about $6.96 and it stayed in that area. And it's staying in that sideways pattern between $6.88 and about $7.24."
Anderson said the corn numbers didn't come in as expected
"If you look at production, the trade was expecting it to come in at 13.65 billion bushels and the USDA brought it in at 13.84. That's above the August estimate. That was a surprise." Upward revisions in worldwide production were also reported, putting more negative pressure on corn prices, Anderson says.
You can listen to more of Kim Anderson's analysis by clicking on the LISTEN BAR at the bottom of this story.
Also this week on SUNUP:
-- The crew visits the North Central Research Station at Lahoma, where Jason Warren shows cover crop varieties and explains how they can benefit soil moisture in wheat and canola fields.
-- As summer winds down, the Mesonet team recaps the recent dry conditions and compares the temperature trends to the same period in 2011.
-- Then, Andres Patrignani, a plant and soil sciences graduate student, shows farmers how to evaluate soil structure to improve yields.
-- In Cow-Calf Corner, Glenn Selk discusses early fence-line weaning of spring calves.
-- Derrell Peel analyzes the recently released USDA trade data on beef imports and exports.
-Finally, SUNUP viewers are invited to the peanut and cotton tour at the Caddo Research Station in Fort Cobb Sept. 24.
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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