Agricultural News
Grain Markets In Holding Pattern Through December, Anderson Says
Thu, 05 Dec 2013 23:27:54 CST
In his preview to this weekend's SUNUP program, Oklahoma State University Extension Grain Marketing Specialist Kim Anderson says markets are somewhat in a holding pattern right now.
"All the commodities, two things are going to move prices during the month of December it's going to be changes in fund positions and export sales. So, we'll have to watch that."
Anderson says the Kansas City Board of Trade March contract is trading between $6.94 and $7.20. He says if it breaks the $6.94 mark on the way down, the support is 30 cents below that. If it goes higher than $7.20, the next target is $7.40. So far, the basis is holding strong.
"That's good news and I think it will continue to do so."
For those watching the July contract, the range is from $6.85 to $7.10, Anderson says. The upper target is $7.27 and if it breaks $6.85, the lower support is down another 30 cents.
"The wheat's in dormancy and we're probably not going to have much happen in the wheat market during the December time period. What really counts is after we get to January 2nd."
Click on the LISTEN BAR at the bottom of this story to hear more of Kim Anderson's analysis.
Also this week, SUNUP is in the field with Brett Carver to discuss dual-purpose wheat variety development.
-Kim Anderson provides an overview of Oklahoma's major commodities and looks at market expectations in the months ahead.
-In the Mesonet report, Al Sutherland tracks the arctic front hitting Oklahoma, looks at the cattle comfort index and explains how long it takes for winter precipitation to impact soil moisture.
-Then, Derrell Peel covers year-end beef demand, rising beef prices, and the pork and poultry markets.
-In Cow-Calf Corner, Glenn Selk looks at the importance of slowly introducing nitrate-rich hay to winter stressed cattle.
-Next, SUNUP travels to Cleveland County for Reality Check, where Susan Moffat tells how the hands-on Extension program teaches financial literacy to hundreds of high school freshman each year.
-In Shop Stop, Wayne Kiner and Randy Taylor demonstrate screwdrivers designed for difficult to reach areas.
-Finally, SUNUP visits OSU's Marvin Klemme Range Research Station in Bessie to talk with Stephen Hallgren and Charles Worthington. The research station is one of 60 sites in the United States chosen by the National Ecological Observatory Network (NEON) for a long-term study on the causes and effects of climate change, land use and invasive species on ecosystems.
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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