World Situation Currently Neutral on Wheat Prices, Anderson SaysThu, 14 Nov 2013 18:08:48 CST
Taking a snapshot of the current situation with regard to wheat prices, OSU Extension Small Grain Marketing Specialist Kim Anderson says there are a variety of issues, but not much impact on prices.
In his preview of this week's SUNUP program, he tells host Lyndall Stout that:
--Australian production looks relatively good, but protein content might be low.
--Production in Argentina may be good, but political chaos will make exports problematic.
--China will probably import more wheat than originally thought.
--The European Union's production will probably be lower than expected, but still above last year's.
--Canada just harvested 1.22 billion bushels. That's only the third time they've broken the billion-bushel barrier in the last 20 years.
"It's a mixed situation going on around the world, not much impact on prices," Anderson says.
He says tight ending stocks of hard red winter wheat in the U.S. would be bullish were it not for the six-billion-bushel-plus stocks in the rest of the world.
"Right now world stocks are trumping tight U.S. stocks and our prices have been going down."
Also on this week's SUNUP:
--The show travels to Alfalfa County to a new Oklahoma Quality Beef Network sale. Interviews include local producers, along with Gant Mourer, Tommy Puffinbarger and Eric DeVuyst.
--In Cow-Calf Corner, Glenn Selk helps producers determine how much hay their herds will need each day.
--In the Mesonet report, Al Sutherland and Gary McManus analyze the colder temperatures and compare the current drought monitor to the same period last year.
--Then, Dave Lalman has advice on cattle nutritional supplements to complement winter forage.
--In Shop Stop, Randy Taylor and Wayne Kiner recommend items for a shop first-aid kit.
--Finally, John Weir talks about a new tool to plan prescribed burns, and Zack Meyer explains how burn associations are getting a safety boost through a grant from the Oklahoma Conservation Commission.
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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