Agricultural News
Trouble in Argentina and Australia Could Boost Prices for U.S. Wheat, Kim Anderson Says
Thu, 24 Oct 2013 17:17:54 CDT
In his weekly preview to Saturday's SUNUP program on OETA, OSU Grain Market Specialist Kim Anderson talks to Lyndall Stout about how what's going on in Argentina and Australia could affect U.S. grain producers.
"The situation is lower expected production in both Argentina and Australia. But the big news is out of Argentina where the wheat prices are reported to be up around $17 per bushel. They exported a large percentage of their wheat, but their wheat stocks are extremely short. Their harvest isn't going to start for another two or three weeks. There are riots in the street because of the cost of bread and the cost of flour. Argentina may not export any wheat until we get into the January or February time period."
Anderson said drought and protein problems could hit Australia hard, lowering their yields and quality.
Back at home, Anderson says, "The Oklahoma wheat crop looks just excellent. The USDA released their crop conditions report, the majority of the wheat is in good to excellent condition, much, much better than we've seen the last couple of years."
He says prices for U.S. wheat have drifted about one dollar higher over the last few weeks and now might be a good time for producers to market some of their remaining crop.
Also this week on SUNUP, the crew visits Cleveland County to discuss wildlife food plots. Interviews include Dwayne Elmore, Heath Herje and Andy Wooliver, a local producer.
--In the Mesonet report, Al Sutherland shows the cooler temperatures, the first expected widespread freeze, and the November temperature and precipitation outlook.
--In Cow-Calf Corner, Glenn Selk offers advice on maintaining body condition scores for cattle grazing on wheat pasture.
--Then, Tom Royer and Karen Hickman talk about saltcedar beetle migration into Oklahoma and explain how the insects are helping to control this invasive tree species.
--In Shop Stop, Wayne Kiner and Randy Taylor demonstrate a handy way to solder wire.
--Derrell Peel looks at fourth quarter cattle markets, a spike in beef prices and the wheat pasture potential for the southern plains region.
-Finally, Patricia Rayas explains why gluten-free foods were developed and how their ingredients differ from traditional recipes in Food Whys.
Catch SUNUP: Saturdays at 7:30 a.m. & Sundays at 6 a.m. on OETA-TV or online at www.sunup.okstate.edu or www.youtube.com/sunuptv
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