Have On-Site Storage? Kim Anderson Says Holding Wheat Back for the Fall Might be a Good IdeaThu, 01 Jun 2017 15:29:25 CDT
This week on SUNUP - Oklahoma State University Grain Market Economist Dr. Kim Anderson shares with host Dave Deken some of what he has heard, speaking with elevators across the state this week as the wheat harvest in the state moves into full swing.
According to Anderson, yields are coming in at or around expectations, in some cases in the South slightly lower due to unfavorable weather conditions. Test weights have been very good though, reported so far on average at approximately 60+ lbs. Protein, however, has been disappointing farmers, falling in a range of 10.5-11%.
Surprisingly though, prices in Oklahoma have increased some. Over the past week, prices saw a lift in the basis by .10-.15, while futures continue down a sideways path. Currently, cash prices in Oklahoma range from $3.50 - $3.70 / bu.
At the moment, Anderson interprets the market to be signaling farmers to store their grain for the time being. He says, from what he can tell, the market would prefer this action to save grain for use in the December/January time period. He says if you have on-farm storage available, you might consider storing grain until later this fall. In his opinion, production is moving in the right direction for markets to potentially offer improved prices by this fall.
“That’s not a guarantee, but overall it looks like a pretty good situation,” Anderson said, “even with 2016 wheat in the bin.”
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 return to the North Central Research Station at Lahoma to talk with Tom Royer about the peskiest insects in the 2017 wheat and canola crops.
- We also learn about future research into controlling weeds during the fallow season with Misha Manuchehri.
- In the Mesonet weather report, Al Sutherland shows us where the moisture is in the soil profile and what crops are beginning to see weather-related pressures.
- Then, Dave Lalman explains how much estrogen is in hormone-implanted beef compared to other foods.
- Derrell Peel says April placements were larger than expected and the markets reflected it.
- In Cow-Calf Corner, Glenn Selk has the facts about screw-claw in cattle.
- Kim Anderson explains why it might be a good idea to hold some wheat back for the fall if you have on-site storage.
- Finally, in Food Whys, we learn the difference between vegetable oils and other oils with Nurhan Dunford.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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