This Week on SUNUP - Kim Anderson Has News on a Possible Future Rally in the Wheat MarketThu, 15 Jun 2017 17:40:07 CDT
This week on SUNUP - Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson joins host Lyndall Stout for another conversation, examining the current wheat harvest conditions and price outlooks. Anderson says wheat prices in the state took a hit and then quickly recovered some at the start of this week.
Anderson says this was a knee-jerk reaction in the market triggered by another year of high production around the world. However, after the crop condition report from USDA came out Monday, revealing HRS wheat was in much worse condition than the markets thought, the prices improved.
Anderson has been monitoring the pulse of the July KC Contract, hoping it climbs above the $4.50 level, which for the moment it seems to have dipped down.
“It’s critical that we hold that $4.50 level,” Anderson said. “We’ve got to hold $4.50.”
Cautiously optimistic about prices, Anderson says if the July contract could inch up to $4.70 - $4.75, he is confident prices could have a clear shot at reaching $5.00 later in the year.
His advice though to farmers is not to get greedy. He advises wheat growers to stagger their selloff of their grain, a third at a time, and to take advantage of rallies when they happen.
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 are coming to you from Caddo County, where wheat harvest is underway. We start the show talking machinery and wheat field fires with John Weir and John Long.
- In Cow-Calf Corner, Glenn Selk discusses water needs for cows and calves during weaning.
- Derrell Peel explains China’s role in U.S. beef exports.
- In the Mesonet weather report, Al Sutherland says one site topped 103F. Gary McManus shows us where drought has moved back into the state.
- Then Kim Anderson, has news on a possible future rally in the wheat market.
- In Naturally Speaking, Dwayne Elmore explains the benefits to wildlife of only cutting a meadow once.
- Finally, we revisit a Caddo County family that recently transitioned from the third to the fifth generation of wheat farmers. Also, Shannon Ferrell has advice for planning farm transitions.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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