Anderson Advises Farmers to Capitalize on Positive Market GainsThu, 09 Oct 2014 17:57:50 CDT
Grain prices got a slight bump this week, which brings opportunities for farmers to market their corn and wheat crops. The December Kansas City wheat contract went above $5.80 and cash wheat prices increased by 30 cents. This week corn prices went up over $3.38 level, which increased cash corn prices by 20 cents. Then late in the week wheat prices went back down. Oklahoma State University Grain Marketing Economist Dr. Kim Anderson said the $5.80 level has become the new floor for Kansas City wheat.
"We had a floor at $5.50 level that's where we put it several weeks ago the wheat prices tested it, they came back above the $5.80 and they are wallering around," Anderson said."If we can stay above $5.80 I think we can get a run up on that December KC contract maybe up to $6.20, maybe get another 50 cents out of this market. If we stay below that $5.80, then we're probably going to go back down and test $5.50."
With most of the wheat harvest across the northern hemisphere, Anderson said a number of international factors are influencing wheat prices from drought conditions in Australia, to wheat quality issues in the European Union. He is also watching the number of hard red winter acres planted and the ongoing drought conditions across the southern plains.
In terms of marketing of corn or wheat, Anderson tells Lyndall Stout on this week's SUNUP that farmers need to take advantage of any positive bump in the market. He recommends marketing some corn or wheat now to take advantage of this 20 - 30 cent rally.
You can see their full conversation on SUNUP this weekend on OETA across the state of Oklahoma- or you can listen to Dr. Anderson's current wheat market analysis right now by clicking LISTEN BAR at the bottom of this article.
This week on SUNUP, we talk with Tom Royer about scouting and treatment options for fall armyworms in winter wheat.
-Then, Josh Bushong has an update on canola planting and offers advice on insect scouting and winter preparation.
-Derrell Peel offers perspective on wheat pasture conditions, management strategy for calves amid high prices and the current market for steers and heifers.
-In the Mesonet report, Al Sutherland looks at the latest soil temperatures and soil moisture levels.
-Next, Kim Anderson covers this week's corn and wheat price rally.
-In Cow-Calf Corner, Glenn Selk tells us about herd sorting options for more efficient winter supplementation.
-Damona Doye has an overview of the 2014 Rural Economic Outlook Conference, which is October 31 in Stillwater.
-Finally, we visit S & S Foods in Mustang to learn how co-packers assist small food companies in getting products to market. Also, Jim Brooks explains how these same companies benefit from the Basic Training workshop presented by the Robert M. Kerr Food & Agricultural Products Center.
Saturdays at 7:30 a.m. & Sundays at 6 a.m. on OETA-TV
Catch SUNUP online through the OSU website by clicking here or through YouTube by clicking here.
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