Anderson Says Markets Settle Following Recent USDA Crop Report ReleaseThu, 16 Jan 2014 17:13:50 CST
Recent crop reports issued by the USDA have had about a week to work on the markets and, at least initially, says OSU Extension Grain Marketing Specialist Kim Anderson, the markets were somewhat perplexed.
"The market reaction to the corn and wheat reports was surprise. The soybean report was just as expected. Initial reaction to the corn, the estimate of lower-than-expected stocks, both in-storage and ending stocks, was higher corn prices. Wheat with the lower planted acres in Oklahoma-five percent lower planted acres, in Kansas seven percent, higher planted acres in Colorado by about 600,000 acres-was a surprise to the market and lowered prices."
Anderson says some analysts are questioning the planted acres figures and think the actual number of planted acres is in line with what the trade is expecting. He says that means wheat markets will probably trade in a sideways pattern in the foreseeable future and corn will probably follow the same pattern, but may grind a little lower.
You can hear more of Kim Anderson's preview to this week's SUNUP program by clicking on the LISTEN BAR at the bottom of this story.
Also on this week's program:
-- In the Mesonet report, Al Sutherland and Gary McManus talk about the recent dry conditions, the latest drought monitor and 90-day rainfall totals.
-- Next, Terry Bidwell looks at pond access and frost-free water tanks for cattle, and Dave Lalman explains how to calculate livestock water needs.
-- In Cow-Calf Corner, Glenn Selk discusses the importance of getting colostrum into a newborn calf.
-- In Shop Stop, Wayne Kiner and Randy Taylor show how to get a bushing out of a blind hole.
-- Finally, Brian Arnall explains how the recent cold temperatures could impact GreenSeeker sensing results.
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 on Youtube at: http://www.youtube.com/sunuptv
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