Traders Missing Key Development In Markets, Kim Anderson SaysThu, 24 Apr 2014 17:48:43 CDT
In his preview to this week’s SUNUP program, Dr. Kim Anderson, Oklahoma State University Extension Grain Marketing Specialist, says wheat markets have become entrenched in a sideways patter of late. Trading this past week has fallen into a range from $7.20 to $8.00.
Anderson says that market observers this week across the board have missed a key development which could impact the markets.
“Several large banks have taken their money out of the commodity markets. That would be funds money. If more banks and more investors pull out of commodities, it will be interesting to see if taking dollars out of a market what price impact that has.”
Some small areas got lots of rain this week, but Anderson says on a general scale it was insufficient to save this year’s crop and crop insurance adjusters are staying busy in western Oklahoma and the Texas Panhandle. He says the bigger question is will the remaining crop be of milling quality.
Also this week: SUNUP discusses whether the recent freeze impacted wheat and canola with Jeff Edwards and Josh Bushong. Jeff also invites viewers to the Wheat Field Day at the North Central Research Station at Lahoma May 9.
-Al Sutherland explains the connection between Mesonet and the National Weather Service. Then, Gary McManus shows viewers the latest drought monitor, rainfall totals and the drought forecast through July.
-In Cow-Calf Corner, Glenn Selk looks at short-term calf removal as a way to begin the weaning process.
-Wayne Kiner and Randy Taylor discuss what motor oil ratings mean in Shop Stop.
-SUNUP travels to Osage County to visit The Nature Conservancy's Tallgrass Prairie Preserve, where Dwayne Elmore and Torre Hovick are conducting research on greater prairie-chickens and fire.
-In Food Whys, Jacob Nelson teaches viewers about the compounds involved in smoking meat.
-Finally, SUNUP features highlights from the upcoming documentary “One Hundred Years of Oklahoma Extension,” which airs May 8 at 7 p.m. on OETA-TV.
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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