To Sell or Not to Sell? Kim Anderson Answers All Your Wheat Harvest Questions - This Week on SUNUPThu, 22 Jun 2017 15:51:57 CDT
This week on SUNUP – OSU Grain Market Economist Dr. Kim Anderson joins host Lyndall Stout again this week, talking wheat harvest in Oklahoma and how it measured up to producer’s expectations.
“I think we surpassed expectations this year,” Anderson said. “And I think that’s a good thing.”
According to Anderson, wheat this year in Oklahoma is averaging about a 60lbs.+ per bushel test weight, a bit higher than most would have anticipated going into this season. Most farmers were not counting on protein levels to be very high this year, hoping at best they may reach up to 10.6% at least. However, on the average, Anderson says we’re seeing closer to an 11% protein weight – still not as high as the markets would like, but potentially the best it might have access to this harvest. The one area we did not perform in as well as we anticipated was yield, Anderson says wheat fields fell slightly below expectations in this regard.
For these reasons, overall, he says farmers should be proud of their harvest for 2017.
Since late April, though, wheat prices have been trending upwards of about a dollar, and now farmers are wondering if this trend will continue?
“I’d like to know that, too,” Anderson said. “I think it’s hit an upper limit. The market is evaluating the HRW in the US. It’s a flip of the coin whether or not it’s going to go up, until the market gets more information about this year’s crop.”
Anderson says the market is keeping an eye on several factors, but to put it simply, if production is lower both domestically or internationally, we’ll continue to see those prices climb. In the meantime, Anderson advises producers not to get greedy. He says to ride the rallies and sell your grain off in thirds throughout the rest of the year. That way, you secure an average rather than trying to bet the odds.
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, as Oklahoma’s 2017 wheat harvest winds down, David Marburger talks about yields, quality and where producers can find results from OSU’s statewide variety trials. David also invites viewers to the upcoming Oklahoma Crops Conferences.
- Throughout the show, we take a look back at some of our favorite SUNUP wheat harvest stories from the past few years.
- In Cow-Calf Corner, Glenn Selk offers management advice for developing replacement heifers.
- After a recent increase in wheat prices, Kim Anderson lets us know whether it is better to sell or continue to store grain that’s in the bin.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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