OSU's Kim Anderson Cautiously Optimistic for Wheat Prices in 2016Thu, 03 Dec 2015 19:13:29 CST
U.S. wheat prices turned higher this week. Part of that can be attributed to the value of the U.S. dollar decreasing by a couple of points. On this weekend's edition of SUNUP, Oklahoma State University Grain Marketing Specialist Kim Anderson said wheat prices rallied ten cents higher in the futures market than cash prices. He said some elevators in Oklahoma lowered their basis by a dime. That lowered the local cash price by ten cents.
SUNUP host Lyndall Stout asks Anderson about the outlook for wheat prices. While there isn’t much volume in the market during this holiday time period, he said with fewer buyers there will be both rallies and declines in the market. He said farmers will have to wait to see where prices are in early January, because that will set the stage for the 2016 year.
In looking at 2016 harvest prices, Anderson said the wheat market has reached the floor and all the negative news has been accounted for in the market. He said right now the July Kansas City wheat futures contract is 20 cents higher than the March contract. Basis levels are also lower for July than March right now. That’s a 40 cent premium, so that makes Anderson semi-optimistic for wheat prices for 2016.
This week on SUNUP, Dave Lalman offers winter feed options for Oklahoma cattle.
- In the Mesonet report, Al Sutherland recaps rainfall totals and temperatures from the past week.
- Josh Lofton explains why the crown of the canola plant is so important to post-freeze production. He also has details on the upcoming Winter Crop School.
- In Cow-Calf Corner, Glenn Selk shows us how to calculate the body condition score of cattle.
- Kim Anderson says celebrate the small stuff, like a small rally in the price of wheat.
- Derrell Peel explains why market movements can be difficult to predict this time of year.
- We’re one-on-one with guest speaker Charlie Arnot on the topic of Why We Hate ‘Big Food’ and What 'Big Food’ Can Do About It.
- Finally, we pay tribute to Dr. Charles “C.B.” Browning, former DASNR dean and director, who passed away this week.
Catch SUNUP: Saturdays at 7:30 a.m. & Sundays at 6 a.m. on OETA-TV
SUNUP can be seen on OETA across the state of Oklahoma- Dr. Anderson's segment on the markets is one of the standard features of this weekly show from Oklahoma State University. Catch SUNUP online through the OSU website by clicking here or through YouTube by clicking here.
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