Kim Anderson Talks Crop Conditions and Gives Current Price RundownThu, 28 Apr 2016 19:05:26 CDT
OSU Grain Marketing Economist Dr. Kim Anderson says Oklahoma wheat production will be only slightly less than last year despite a 9 percent decrease in the number of acres planted.
“Our crop conditions are significantly better, and I think that is going to mostly offset that reduction in production,” he says.
According to Anderson, harvest-delivered wheat bid off the July KC contract will bring anywhere from $4 to $4.15 a bushel, based on a -$.65 to -$.80 basis.
Producers with 2015 wheat still in the bin can expect $3.80 to $4/bushel bid off the KC July contract price of $4.80.
Canola is a flat price of about $6.25/bushel.
He also told SUNUP Hostess Lyndall Stout recent rains mean summer crops should be off to a good start in Oklahoma.
Here is Anderson’s rundown of those current crop prices:
The basis is -$.15 off the CBT July contract, which is at $4, meaning a forward contract price in the Oklahoma Panhandle of about $3.85. In central Oklahoma, the basis is about $.20 less, for a contract price of $3.65.
The Panhandle basis is currently -$1.50, which means $2.95/bushel. Anderson says the central Oklahoma basis is a little friendlier at -$.75 for $3.25/bushel.
In central Oklahoma, the basis is $.75 off the CBT November contract for a cash price of $9.40, and Panhandle prices are a little lower at -$1.00 off that CBT November contract for a cash price of $9.15.
You can watch Kim and Lyndall this weekend on SUNUP, or you can get an early listen to his comments by clicking on the LISTEN BAR below.
In addition to Kim's new crop commodity prices on SUNUP, here's the rundown on the OSU Ag Communications production that returns to OETA this weekend:
This week on SUNUP, Jeff Edwards has an update on the wheat crop across Oklahoma.
- Bob Hunger says producers are not out of the woods yet concerning wheat disease.
- In the Mesonet report, Al Sutherland has wind speeds and rain totals following Tuesday’s storms, and Gary McManus has great news about April rainfall.
- Tom Royer shows us which insects producers should be scouting for right now.
- We are reminded that when a balloon goes up, it must come down. We find out how they can negatively impact livestock and wildlife.
- In Cow-Calf Corner, Glenn Selk covers the benefits of creep-feeding calves.
Join Lyndall and Dave for SUNUP: Saturdays at 7:30 a.m. & Sundays at 6 a.m. on OETA-TV
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