According to OSU's Kim Anderson, Volatility Rules the Wheat MarketsThu, 17 Apr 2014 17:55:44 CDT
In his preview to this week’s SUNUP program, Oklahoma State University Extension Grain Marketing Specialist Kim Anderson says there’s one word to describe current wheat markets: volatile.
“On February 3rd we had $6 on that July contract. By March 20th it was up to $7.94 1/2. On April 11th it was back down to $7.23 and then, of course, this week it peaked out again at $7.80. So, you’ve just got a lot of volatility from the drought, the freeze and what ‘s going on in the Ukraine.”
Anderson says that one factor that could keep prices high for Oklahoma wheat producers is the quality of wheat given the weather stresses. Last year’s crop was high in protein which increased its demand and has kept prices higher.
“If we have good protein this year, it’s going to assure us export demand. The excess or high export demand will depend on what the protein is around the rest of the world, but protein never hurts.”
Click on the LISTEN BAR at the bottom of this story to hear more from Kim Anderson.
Also on this week’s SUNUP, Jeff Edwards has an update on Oklahoma's wheat crop including freeze damage potential, disease and insect pressures. Then, Brian Arnall talks about managing nitrogen deficiency in wheat and other nutrient concerns.
--In the Mesonet report, Al Sutherland looks at the hours below freezing, soil temperatures and the percentage of normal rainfall for the year.
--In Cow-Calf Corner, Glenn Selk explains the importance of checking udder soundness in order to make culling decisions.
--Derrell Peel looks at wholesale and fed cattle markets, as well as the factors that could impact seasonal beef prices.
--In Naturally Speaking, John Weir has tips on putting together slip-on pump units for prescribed fire support.
--Finally, SUNUP feature the sights and sounds of Oklahoma Cooperative Extension's Centennial Whistle Stop & Festival from Wellston. Interviews include James Trapp, Recia Garcia and Kevin Allen.
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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