Kim Anderson Says Projected Lower Ending Stocks Could Mean Better Wheat Prices for OklahomansThu, 25 May 2017 18:25:35 CDT
This week on SUNUP! - Oklahoma State University Grain Market Economist Dr. Kim Anderson visits with host Lyndall Stout to offer a little perspective on how the US compares in production and grain stocks this year to competitors around the world.
According to Kim, world production is projected to be approximately 2% less than last year at 27.1 billion bushels globally.
The US itself is expected to have produced roughly 21% less wheat this year compared to last year’s 2.3 billion bushels, at 1.8 billion in 2017.
Compared to our competitors around the world, Argentina’s production is up 6% at 463 million bushels; Australia, down 29% at 919 million bushels; Canada, down just 1% at 874 million bushels; the European Union is up 4% at 5.5 billion bushels; Kazakhstan, down 13% at 478 million bushels; Russia is down 8% at 2.5 billion bushels; and the Ukraine is down 7% - which as a direct competitor to the US is very significant says Anderson.
With the EU’s contribution, this year, world stocks are projected to be up 1%. Aside from Argentina, the US and most all its competitors worldwide are down, many quite significantly.
“That’s what we want to see,” Anderson said. “If we can get those stocks lower, then we can get these prices higher.”
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 travel the state looking at the 2017 wheat crop. We start the show north of Burlington in Alfalfa County and find wheat that is still fairly green.
- In the Mesonet weather report, Al Sutherland shows us the parts of the state that are above average in rainfall. Gary McManus has the first drought-free map in quite a while and says June could be wet.
- Then we travel to Blaine County to visit a wheat field that has had its share of rain.
- Kim Anderson explains why projected lower ending stocks in other countries could mean better prices are on the way for Oklahoma wheat.
- We meet a Caddo County producer who has an interesting crop rotation to maximize his wheat production.
- In Cow-Calf Corner, Glenn Selk has advice for limiting hay loss due to storage.
- We make our final stop at a Cotton County field that was damaged by hail last week.
- Finally, we learn what 125 years of the Magruder Plots means to wheat research at Oklahoma State University.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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