Agricultural News
Despite Recent Bright Spots in the Market, OSU's Dr. Kim Anderson Still Nervous Over Wheat Prices
Thu, 22 Sep 2016 17:48:00 CDT
Oklahoma State University Extension Grains Market Analyst Dr. Kim Anderson talks wheat prices with SUNUP's Lyndall Stout this week- and will provide an update on current pricing in the grain market. Dr. Anderson says a big move took place this week with the KC wheat contract jumping .10. The good news though, he says, is that the contract price is up near $4.20 with resistance reaching up $4.25. However, stronger resistance sits at $4.30, while support is coming in at $3.95. Anderson says this all boils down to a .25 risk in the market currently. In corn, the December CBT contract right now has a resistance of $3.40 and support of $3.15, lending a .25 risk there as well. Soybeans proving to be even more depressing, with a total .40 risk.
"All these markets are just wallowing around right now," Anderson said.
As far as the export market goes, Dr. Anderson says Morocco just put in an order for roughly 5 million bushels of feed wheat. His hopes are that this will potentially clear out some of the wheat stored in bunkers around the state right now, and with any luck help prices some. According to Anderson, overall HRW exports are 85 percent higher from last year, while total export wheat sales are up 23 percent. Despite these bright spots, Dr. Anderson says he remains a little nervous of the current situation.
"I think the soonest that we could expect that would be September/October of 2017 and it may be 2018 in September/October before we get those prices up in the $5, $6 or $7 range," Anderson said.
You can watch their visit tomorrow or Sunday on SUNUP- but you can hear Kim's comments right now by clicking on the LISTEN BAR below.
Beyond Lyndall's weekly chat with Dr. Anderson- the SUNUP crew has a very full lineup for your viewing this weekend:
This week on SUNUP, the 2016 fair tour continues with a stop at the Great State Fair of Oklahoma in Oklahoma City.
-We start with an update on winter crop planting with Josh Lofton and David Marburger.
-Kim Anderson says more wheat is leaving the U.S than this time last year, which has the potential to help prices.
-In the Mesonet report, Al Sutherland shows us how hot Oklahoma got during summer's last rally.
-Derrell Peel says this may be a buying opportunity for cattle producers with wheat pasture.
-In Cow-Calf Corner, Glenn Selk discusses possible benefits of varying feeding rates of supplements.
-Dr. Barry Whitworth explains what to look for in swine affected by the Seneca Valley Virus.
-Next, Kurtis Hair shows us how Oklahoma roadsides are changing to help monarch butterflies, thanks to a partnership between OSU/DASNR researchers and the Oklahoma Department of Transportation.
-Finally, we see why the State Fair of Oklahoma is a perfect place for Made In Oklahoma products.
Join SUNUP:
Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA-TV
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