This Week on SUNUP! - Dr. Kim Anderson Reports Some Good News From USDA and the MarketsThu, 09 Feb 2017 16:34:19 CST
This week on SUNUP - Lyndall Stout is joined once again by Oklahoma State University Extension Grain Market Specialist Dr. Kim Anderson and on this episode, they discuss the recovery of wheat prices from recent dips over the past couple weeks.
“I think there’s good news in the market,” Anderson said. “We did recover most of our losses that we saw two or three weeks ago.”
However, the “real good news” he says is that the forward contract basis for harvest delivered wheat in 2017 has increased about $0.09 over this past week.
“I think that’s good news as we look at harvest,” Anderson remarked, adding that if producers can grow a crop with high protein and test weight, prices could even pick up an additional $0.20.
Anderson also reviews his takeaways from this week’s Supply and Demand report from the USDA. Overall, he claims no major surprises came out in the report other than some good news that both US and world ending wheat stocks have been lowered by 50 million and 116 million bushels respectively.
“Even if the world is still at a record 9.2 billion, less is still better,” Anderson said.
Looking ahead to this year, Anderson believes ending stocks will not change too dramatically from what they are. He believes the lower production comes in the closer farmers get to securing what he’s calculated as $4.75 for a national average price come harvest, with Oklahoma’s average price running below that at $0.50 less. He says, too, if this trend continues and the numbers come to fruition as he sees them, by next year, farmers could expect to see wheat prices reach up to $5.00.
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, we start with David Marburger explaining Oklahoma State University’s research study on dual-purpose wheat yields.
- In the Mesonet weather report, Al Sutherland shows us how the recent cold snap felt to cattle and what parts of the state should be scouting for first hollow stem.
- Then, Dave Shideler explains why famers markets play an important role in the community and provides information about the upcoming Oklahoma Farmers Market and Agritourist Conference.
- In Cow-Calf Corner, Glenn Selk walks us through the different stages of calving.
- Brian Arnall discusses some of the new apps for farmers and ranchers.
- Kim Anderson says we could see five-dollar wheat next year.
Join us for SUNUP:
Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA-TV
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