Kim Anderson Sees the Market Telling Farmers to Hold a Portion of their 2016 Wheat Harvest for Later in 2016Fri, 03 Jun 2016 03:48:19 CDT
Current wheat price movement suggests strong support at recent levels- that's the word from OSU Extension Grain Market Economist Dr. Kim Anderson. Anderson believes it is possible that we could see some further weakening of wheat prices as the 2016 winter wheat crop is harvested in the hard red winter wheat belt, but he expects that to be perhaps a ten to twenty cent decline. He does not anticipate a a major collapse of wheat prices from current levels.
From there, Anderson says that out in the future wheat futures suggest the market will pay farmers to store at least some of their 2016 crop. Dr. Anderson reports on this coming weekend's SUNUP, as produced by OSU Ag Communications, that globally, the wheat crop seems to be doing well- better than you might have expected just a few weeks ago. That good news would normally have been bad for wheat prices- but recent wheat price levels based on the Kansas City Board of Trade HRW futures has held up in the face of a possible bumper crop not just in the US- but in places like the Ukraine, Australia and Russia.
Based on what he sees the market saying in those deferred wheat contracts, Anderson thinks holding a portion of the 2016 wheat that you harvest makes a lot of sense. You can hear his comments that will be a part of SUNUP this weekend a day early by clicking on the LISTEN BAR below.
Besides the weekly Kim Anderson grain market outlook segment- here is the lineup of what will be seen and featured on this weekend's SUNUP program on OETA:
Dave Lalman explains some of the variables that impact cattle operation profits.
Then, we return to the North Central Research Station at Lahoma, where Brian Arnall talks about the future of soil nutrition in Oklahoma and Jason Warren demonstrates soil health following a no-till system using cover crops.
In Cow-Calf Corner, Glenn Selk explains why toe conditions can be detrimental to cattle.
Derrell Peel says demand for beef has been good in 2016 and analyzes how that could drive prices.
In Food Whys, Nurhan Dunford looks at difference between wheat germ and wheat bran.
The weekly program can be seen Saturday at 7:30 a.m. & Sunday at 6 a.m. on the statewide OETA network of stations.
SUNUP also has a website- which is available here.
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