Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
    
   
   
   
   
   

Agricultural News


Anderson Says Odds Against Big Drop In Wheat Prices

Thu, 31 Jul 2014 18:10:37 CDT

Anderson Says Odds Against Big Drop In Wheat Prices

Wheat prices are on the decline again this week, but how low will it go? On this Saturday's SUNUP program, Oklahoma State University Grain Marketing Economist Kim Anderson looks at the global wheat situation and the price outlook for 2015.


Anderson said there is negative news for France and Germany where they are having too much rain which is impacting the quality of the crop. Anderson said its dry in Australia and eastern growing region, so there is concern for that wheat crop. Additionally there are also potential economic sanctions against Russia, which could inhibit their exports.


With the step decline in the market, where is the bottom in the market? Anderson has stated that $6 - 6.05 remains to be strong support price.


"You look at the technicals, the charts are telling you that the September contract price is going to go to $5.70," Anderson said. "I think the odds are against that, maybe about 35 percent chance of that happening."


"That would drop cash prices down to around $5.40.....If cash prices drop 13 to 15 cents, then they will go on down, so I have the bottom for cash (wheat) around $5.40," he said.


As wheat producers look ahead to this next year at their cropping systems. In looking at wheat and canola, Anderson offered his best prediction for prices next June.


For June 2015 he is predicting the wheat price to be $5.50 and canola to be at $8.25. If you look at forward contracting, Anderson said right now farmers can forward contract wheat for June 15 delivery at $5.80 and canola for $8.15.


-This week on SUNUP, we learn from Dave Lalman and Jason Warren about a DASNR research project comparing traditional cattle grazing methods with a more intensive grazing system.
-Tom Royer explains how Sugarcane Aphids are impacting Oklahoma sorghum and offers treatment options.
-In the Mesonet report, Al Sutherland takes a look at Oklahoma’s rainfall amounts for the year and explains how 2013 and 2014 rainfall totals compare to the 15-year average.
-Saleh Taghvaeian demonstrates an irrigation study currently underway and invites viewers to the 2014 Oklahoma Irrigation Conference August 19 in Fort Cobb.
-In Cow Calf Corner, Glenn Selk explains how to stockpile bermudagrass.
-Then, Kim Anderson takes a look at the downward direction for the markets and suggests a set of prices to use as a planning guideline for fall 2014.
-Jody Campiche has a farm bill update with details on the Supplemental Coverage Option.
-In Ag Apps, Brian Arnall takes us through some of his favorite crop tools for the smart phone or tablet.
-Finally, in Shop Stop, Randy Taylor and Wayne Kiner have a tip on how to improve tie-downs on your truck.


Catch SUNUP: Saturdays at 7:30 a.m. & Sundays at 6 a.m. on OETA-TV


Catch SUNUP online through the OSU website or through YouTube.

   
   

Listen to Kim Anderson on SUNUP
right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • NPPC Cancels 2020 World Pork Expo  Mon, 30 Mar 2020 16:40:47 CDT
  • Majority of High Plains Wheat, Pasturre and Range Conditions are Rated Good to Excellent  Mon, 30 Mar 2020 16:35:48 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Monday, March 30, 2020  Mon, 30 Mar 2020 14:59:53 CDT
  • Monday, March 30, 2020 Market Wrap-Up with Justin Lewis  Mon, 30 Mar 2020 14:03:56 CDT
  • OSU's Wheat Field days Canceled through May 10th   Mon, 30 Mar 2020 12:47:57 CDT
  • A Beef Board Update on COVID-19 Response by Contractors to Beef Checkoff  Mon, 30 Mar 2020 11:25:47 CDT
  • USDA Extends ReConnect Application Deadline to April 15  Mon, 30 Mar 2020 11:18:57 CDT
  • Zoom Webinars Planned for 2020 Cotton Production Planning and Dicamba Training by OSU  Mon, 30 Mar 2020 11:12:32 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma City Farm Show KIS FUTURES, INC. Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment AFR Insurance Stillwater Milling Oklahoma Cattlemen's Association

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA TPAOO TPAOO

    Search OklahomaFarmReport.com


       
       
    © 2008-2020 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.