One Bump at a Time - Kim Anderson Suggests Taking Advantage of Slight Increases in Wheat PricesThu, 09 Jun 2016 23:27:29 CDT
While the Oklahoma wheat harvest is nearly half-complete, OSU Extension Grain Market Economist Dr. Kim Anderson says just 42 percent of the world’s crop will be in the bin come July 1. That number grows over the summer to about 80 percent by the beginning of September.
“So when you get to that 80 percent, that last 20 is very important because it’s at the margin,” he says. “And it’s the one that really determines if the price is going to go up or if the price is going to go down.”
Producers will also be making planting decisions during that timeframe, and Anderson says the price of wheat needs to be near the cost of production or the acres won’t get planted.
“The market needs the wheat,” he says. “They need acres for 2017, and to get those acres, they’re going to have to raise this price a little bit.”
When it comes to the recent slightly higher prices, Anderson encourages producers to take advantage.
“A 40 cent price increase, you bet,” he says. “I think you’ve got to sell 10 - 20 percent when you get a little rally.
“I think that’s the way to sell this crop - when you get a price rally, pull the trigger on some wheat.”
You can hear Anderson's 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:
We visit with Josh Lofton about the outcome of canola harvest. He also offers options and production advice for those planting double crops in canola and wheat fields.
-Then, Brian Arnall examines why a soil test is important after harvest.
-In Cow-Calf Corner, Glenn Selk looks at the importance of pregnancy checks for replacement heifers after spring calving season.
-We help viewers identify common snakes in Oklahoma, as well as determine venomous and non-venomous characteristics. Interviews include OkState Herpetology Professor Stanley Fox, and graduate student Justin Agan.
-In the Mesonet report, Al Sutherland and Gary McManus cover sunlight hours, rainfall, the June temperature outlook and reservoir levels.
-Finally, we’re along for a couple of rounds on the combine with the Matthiesen family in Noble County.
The weekly program can be seen Saturday at 7:30 a.m. & Sunday at 6 a.m. on the statewide OETA network of stations.
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