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Agricultural News

Wheat Prices Are Well Below the Cost of Production- and Kim Anderson Expects Them to Stay There Through Our Harvest Season

Thu, 25 Feb 2016 21:31:33

Wheat Prices Are Well Below the Cost of Production- and Kim Anderson Expects Them to Stay There Through Our Harvest Season Wheat prices are under water- below the current cost of production for Oklahoma hard red winter wheat producers. And according to OSU Extension Grain Marketing Economist Dr. Kim Anderson. there is little chance that what prices will rebound to break even levels for the next several months.

Dr. Anderson tells Lyndall Stout with the SUNUP program that is produced weekly by the Ag Communications Department of Oklahoma State University that about the only way we will find a way for wheat prices to head higher is for some part of the world to have a massive crop failure. Dr. Anderson believes it could take a one to two billion bushel shortfall somewhere other than in the United States to promote higher wheat prices- it will take an eighty five cent per bushel boost in prices to approach the variable cost of production for wheat farmers here in the southern Great Plains.

Kim Anderson tells Stout that if wheat prices remain at these levels as we near the 2016 winter wheat harvest- it may be that this is one of those years that it will make a lot of sense to store wheat after you sell enough to pay for some out of pocket harvest related costs. Anderson contends "If prices stay low- and I believe that they will- this is the year to risk that storage cost, to risk that interest cost to store that wheat into the fall and winter."

You can watch Lyndall Stout talk with Kim Anderson during this weekend's SUNUP- or you can listen to his complete comments right now by clicking on the LISTEN BAR at the bottom of this story.

Dr. Anderson is not the only feature that you can be watching for this weekend- here is the complete SUNUP program listing for this weekend, which will be the last SUNUP program until the latter part of March- as OETA is placing them on their spring hiatus.

This week on SUNUP, Josh Lofton explains what canola producers should scout for in their fields. He also has information about the upcoming No-Till Oklahoma Conference  in Norman.

- In the Mesonet report, Al Sutherland shows which Mesonet site has spent the most hours below freezing and Gary McManus says wet weather may be coming.

- Looking for a bull? Megan Rolf offers advice for picking the best bull  for your herd .

- Glenn Selk looks at how many bulls are enough for a herd, in Cow-Calf Corner.

- In Naturally Speaking, John Weir explains what makes a good fire break and why they are important when conducting a prescribed burn.

- Finally, Derrell Peel says changes are coming to the beef markets in 2016.

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


Lyndall Stout talks with Dr. Kim Anderson of OSU about the current wheat market.
right-click to download mp3


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