OSU's Kim Anderson Cautiously Optimistic In Wheat Price OutlookThu, 11 Feb 2016 17:50:35 CST
Wheat prices continued to move lower this week, despite a number of factors globally that could result in lower production. In this weekend's edition of SUNUP, Oklahoma State University Grain Marketing Specialist Kim Anderson said the World Agricultural Supply and Demand Estimate (WASDE) report came out this week. WASDE reported lower exports for wheat by 25 million metric ton and increased ending stocks. Anderson said the adjustments were anticipated by traders, so the report wasn't a surprise.
Traders continue to watch events in Egypt. The country has rejected their last two tenders because sellers are adding a risk premium of $10 to $20 a metric ton. Anderson said Egypt may not have the financial ability to pay for wheat with the added premium, so they are rejecting loads.
For wheat harvest prices, Anderson is predicting prices around $4.50 - $4.75, which is below the cost of production. He said wheat contracts between now and September are offering a ten to 20 cent price premium. In looking at July 2017 wheat prices, Anderson said that shows indications the market will come back above the cost of production.
For harvest delivered corn, he is predicting cash prices around $3.20, with higher prices in central Oklahoma and the Panhandle. Sorghum is averaging around 15 cents below corn prices and soybeans are around $8.05 for the harvest price.
This week on SUNUP, Jeff Edwards shows us how to identify the stage in the growing cycle when wheat reaches first hollow stem. He also warns producers about stripe rust appearing in the state.
- Then, Brett Carver announces the latest wheat variety released by Oklahoma State University.
- Kim Anderson explains why the world’s largest importer of wheat is not buying wheat right now.
- Brian Arnall has a reminder about the 2016 No-Till Oklahoma Conference.
- In the Mesonet report, Gary McManus shows us how 2016 rainfall compares to the average rainfall.
- Carol Jones has advice for producers who are storing grain on their farms.
- Does wheat pasture impact reproduction capabilities in young replacement heifers? Glenn Selk explains what research shows, in Cow-Calf Corner.
- Finally, Dwayne Elmore announces the new Food Plot app for mobile devices, in Naturally Speaking.
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
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