Agricultural News
Record Harvests Around the World and How They Are Affecting Prices Here at Home
Thu, 29 Sep 2016 19:35:52 CDT
Oklahoma State University Extension Grains Market Analyst Dr. Kim Anderson talks wheat prices with SUNUP's Lyndall Stout this week- and reviews how crop harvests around the world are affecting prices here at home. A common theme happening around the globe it seems are crops hitting record high harvests. Dr. Anderson notes that the US corn harvest happening now is being reported at 15 billion bushel, which still is a little lower than expected. Russia's wheat harvest is wrapping up with a record harvest, and Argentina and Australia will begin their wheat harvests very soon, both anticipating large yields as well. The shortfall here is in Australia; recent precipitation seems to be damaging the crop's quality. Dr. Anderson suggests this may help prices some at home, but it would take major problems with Argentina's crop to make any significant impacts. He estimates a situation like this could boost prices 40-50 cents higher up to a dollar in extreme cases. He admits though, that while there is always room for hope, the probability of this occurring is unlikely. Wheat exports however seem to be in relatively good demand, higher from last year all around running upwards of 20-30 percent higher.
Looking in the long term though, Anderson says the answer will not be found in quantity but quality. He insists producers' focus needs to be on growing a product high in protein and test weight with good milling quality. Accomplishing that could drive prices up to $4.00 he says. Inversely, prices could drop below $3.00 if we get another large, poor quality crop.
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, Brian Arnall discusses the importance of N-rich strips in helping guide nutrient management decisions in newly-planted fields.
- Next, Larry Sanders and Shannon Ferrell provide an overview of the OSU Extension Fact Sheet they co-authored about State Question 777.
- In Food Whys, Kyle Flynn explains the differences between various cuts of beef.
- In the Mesonet weather report, Al Sutherland looks at the shift to fall-like temperatures, and Gary McManus shows us how drought is increasing in eastern Oklahoma.
- Then, Kim Anderson analyzes what's happening around the world that could impact wheat prices.
- In Cow-Calf Corner, Glenn Selk talks about winter supplements leading into spring calving season.
- Finally, SUNUP's fair tour continues as we travel to Pontotoc County and on to the State Fair of Oklahoma in Oklahoma City with an accomplished 4-H'er.
Join SUNUP:
Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA-TV
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