Kim Anderson Says World Crops Could Give Wheat Farmers a Reason to Plant More Acres in 2018Thu, 29 Jun 2017 16:52:38 CDT
This week on SUNUP - Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson is back to speak with host Dave Deeken, this time taking a look at recent rallies in the price of wheat.
“We had that $1.00 price rally on the cash market,” Anderson said. “We had lost $0.20 - 0.25 of it, then it rallied back this last week.”
Good news, says Anderson, but he cites the loss of our wheat crops to the North as the driving force behind these upticks in price. According to recent reports, crops in Nebraska, Montana, Wyoming, the Dakotas, even up into Canada are all failing with low yields. Anderson calls them a disaster this year for the US.
Around the world production is down and up, depending on where you look. It seems the major wheat producing countries have all hit a wall this year, some with as much as almost 30% decreases in their production. Smaller countries though has mostly seen decent increases. All this has combined to come out fairly even in the wash for world production. Still, Anderson says it will have some pull in the markets.
Anderson says markets are hot right now as well, with protein premiums running wild at the moment. A 12% protein level will earn you a $1.25 premium currently. Truck in anything less than 11% though, and you’ll leave with a $0.16 discount.
Nonetheless, Anderson says he is remaining cautiously optimistic that prices could potentially rally again - perhaps lifting prices up to $4.50 cash by December 1.
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 talk ticks with Dr. Susan Little, of Oklahoma State University’s Center for Veterinary Health Sciences.
- In the Mesonet weather report, Al Sutherland explains how air temperatures compare to the cattle comfort index.
- In Cow-Calf Corner, Glenn Selk has advice for maintaining cattle weight gain as the quality of forage slips.
- Then, Derrell Peel says there is potential for cattle producers to make a profit in 2017, but he advises to manage margins closely.
- In Food Whys, Tim Bowser says there is a difference between grass-fed beef and grain-fed beef.
- Finally, Dwayne Elmore has advice for attracting doves to your land for fall hunting season, in Naturally Speaking.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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