Latest WASDE Report Mainly in Line with Expectations, Kim Anderson SaysThu, 10 Apr 2014 19:25:24 CDT
The latest World Agricultural Supply and Demand Estimates report was released this week and Oklahoma State University Extension Grain Marketing Specialist Kim Anderson says it wasn't an earth-shattering report. He said in his preview to this week's SUNUP program that wheat and soybean ending stocks were lower, but in line with analysts' expectations. Corn stocks came in somewheat lower than had been predicted.
As far as prices for 2014 crops, Anderson said that the basis for what is running about 40 cents below the July contract, so forward contracting wheat now at $7 a bushel is not a bad idea. He said that canola producers might want to consider contracting at $9 to $9.30 per bushel.
"Producers who want to look at a forward contract on that can look at the Winnipeg exchange for the canola contract. Look at July, subtract anywhere from $1.60 to $190 off of that price and you'll be pretty close to what the market is offering."
Anderson said he expects a wheat price at harvest in central Oklahoma of $6.50 "unless it rains. If it rains, it's going to be $6.25. If it doesn't rain, let's go up to $7.00."
Also on this week's SUNUP:
-- Dave Lalman shares early results from an ongoing cattle limit-feeding study using wheat pasture as a supplement to traditional forage.
-- In the Mesonet report, Gary McManus recaps the Oklahoma drought since it began in October 2010 and compares that time frame to the percentage of normal rainfall. Then, Al Sutherland tells us about the recent rainfall.
-- Brian Arnall looks at handy mobile apps to identify weeds, plants and insects.
-- In Cow-Calf Corner, Glenn Selk explains why freemartin calves (females born with a bull twin) should not be used as replacement heifers.
-- In Shop Stop, Wayne Kiner and Randy Taylor show us how to identify neutral wire on a cord that is not color coded.
-- With tax season here, Shannon Ferrell talks about the importance of taking farm inventory and how to begin the farm transition process. He also invites viewers to the upcoming Farm Transition Workshop in Stillwater May 2.
-- Finally, in Naturally Speaking, John Weir demonstrates how to safely use a drip torch and set up a prescribed burn.
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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