Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211


Agricultural News

Dr. Kim Anderson Says USDA Acreage and Stocks Reports Suggest Move Towards Historical Prices

Fri, 31 Mar 2017 15:05:07 CDT

Dr. Kim Anderson Says USDA Acreage and Stocks Reports Suggest Move Towards Historical Prices Friday marked one of the most highly anticipated days of the year for commodity markets, with the United States Department of Agriculture’s scheduled release of the 2017 Prospective Planting and Grain Stocks reports. Radio Oklahoma Ag Network Associate Farm Director Carson Horn reached out to Dr. Kim Anderson, extension grain market economist at Oklahoma State University, for his reaction to the numbers in today’s reports. You can listen to Anderson’s breakdown of USDA’s report with Horn, by clicking or tapping the LISTEN BAR below at the bottom of this story.

“Trade had a good handle on these reports, maybe a little more negative information than expected,” Anderson said,” but a neutral report overall.”

According to Anderson, corn was the major focus of these reports with corn acres coming in with a positive outlook of just under 90 million acres, compared to expectations of near 91 million. Stocks were estimated at a little over 8.5 million bushels but in fact came in at just over 8.6 million. With some conflicting information coming out of the USDA today about corn, Anderson is calling corn a wash for now, suggesting it will simply take time to see how the markets weigh out the positive from the negative.

For wheat, Anderson reports that the numbers were fairly comparable to estimates made of 46.2 million acres, with an actual 46.06 million reported. Stocks were slightly above expectations at 32 million bu. Anderson says price wise, the report was “equal to positive” for wheat.

However, there is room for movement in soybeans Anderson notes. Soybeans came in well above expectation at 89.5 million, above the expected total of 88.2 million acres. Stocks were expected to be at 1.7 billion bu., but came in above that.

“I think soybean prices will go down,” Anderson predicted, and added another warning as well. “I think our cotton producers need to look at planted acres for cotton. The planted acres for cotton was 12. 2 million acres, up 21 percent from last year, and I think that’s going to be negative for cotton prices.”

While overall, Anderson says this report has only minimal if not neutral tones, he says it could change the way the commodity markets are looking at soybeans and corn.

“There has been a move or talk of planting more soybeans and less corn,” he said. “I think this report may change some of that. Because, I think we’re going to have that soybean and corn price come more in line with the historical line.”

To review the Prospective Plantings report from the USDA, click here.

To review the Grain Stocks report from the USDA, click here.



You can listen to Anderson's breakdown of USDA's reports with Horn, by clicking on the LISTEN BAR
right-click to download mp3


WebReadyTM Powered by WireReady® NSI


Top Agricultural News

  • Thursday Market Wrap-Up with Justin Lewis  Thu, 24 May 2018 14:45:39 CDT
  • Thursday Afternoon Market Wrap-Up with Carson Horn   Thu, 24 May 2018 13:55:13 CDT
  • Spotty Improvement Seen in Drought Conditions Across Oklahoma in One of State's Warmest Mays  Thu, 24 May 2018 13:13:43 CDT
  • USDA Encourages Everyone to Kick Off Grilling Season with Food Safety in Mind this Memorial Day  Thu, 24 May 2018 11:44:49 CDT
  • Auden Aranda of Keyes, Okla. Selected to Join Sorghum Checkoff's Leadership Sorghum Class IV  Thu, 24 May 2018 11:38:16 CDT
  • Oklahoma Department of Agriculture Now Accepting Farmer Applications for New Hemp Pilot Program  Thu, 24 May 2018 11:23:13 CDT
  • Oklahoma Beef Industry Leader Weston Givens Offers His Takeaways from Recent Consumer Panel  Thu, 24 May 2018 11:05:54 CDT
  • Thursday Preopening Market Update with Dave Lanning  Thu, 24 May 2018 09:31:46 CDT

  • More Headlines...


    Ron salutes our daily email sponsors!

    Livestock Exchange Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Stillwater Milling American Farmers & Ranchers KIS FUTURES, INC. Oklahoma Cattlemen's Association Oklahoma City Farm Show

    Search OklahomaFarmReport.com

    Find more about Weather in Oklahoma City, OK

    © 2008-2018 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.