This Week on SUNUP - Dr. Kim Anderson Breaks Down the Recent WASDE Report NumbersThu, 09 Mar 2017 18:12:01 CST
This week on SUNUP, Oklahoma State University Grain Market Economist Dr. Kim Anderson breaks down the latest World Agricultural Supply and Demand Estimates
This report did not contain any real surprises, according to Anderson. Most projections hit their targets fairly close, with US wheat projected at 1.135 billion bushels, coming in at 1.129 billion bushels. Corn projected at 2.317 billion bushels, estimated now at 2.30 billion bushels. And if there were any surprises, Anderson says soybeans were probably it, projected at 418 million bushels, coming in at 435 - almost 15 million bushels more than last year.
Anderson explains that since 2007, world production has jumped form 22.5 billion bushels in wheat to 27 billion last year. On average harvested acres, yields have steadily increased from 42 bu./acre to 50 this past year. Anderson says, we have not seen that sort of increase here in the US.
“That’s why we have record production,” he said. “That’s why we have low prices.”
The good news, though as reported by Anderson, is that consumption worldwide - is up.
As for his price expectations of this marketing year, Anderson predicts that with good test weight and protein, $4.25 for wheat here in Oklahoma is within reach. Optimistically, he bets too that if worldwide, yields are low, it is possible that prices could extend as high as $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 Dr. Anderson’s weekly chat - the SUNUP crew has a very full lineup for your viewing this weekend:
This week on SUNUP, we get an update from Josh Lofton on the canola crop and how much of it was impacted by winterkill.
- Then, Tom Royer shows producers insects to look for in wheat and canola fields.
- In the Mesonet weather report, Al Sutherland looks at the weather conditions that helped the wildfires in parts of Kansas, Oklahoma and Texas intensify so quickly earlier in the week.
- Kim Anderson has how prices have changed in the latest WASDE report.
- In Cow-Calf Corner, Glenn Selk has advice for ensuring your bull is ready for breeding season.
- Finally, we revisit a story from 2016 about fire ecology students helping establish burn plots for Jenks Public School students.
Join us for SUNUP!
Sunday at 6 a.m. on OETA-TV
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