Agricultural News
This Week on SUNUP - Kim Anderson Advises Growers to Take Emotion Out of Selling Their Wheat
Thu, 06 Jul 2017 16:23:05 CDT
This week on SUNUP! Dr. Kim Anderson, OSU Extension grain market economist, joins host Dave Deeken to talk about the recent rally in wheat prices and what thresholds the markets need to conquer to keep prices running up. They begin with a review of the rally that appeared this week, wondering if it will continue.
"That's the big question I'm getting, 'are prices going to continue on?" Anderson said. "My gut tells me that prices will probably go higher as we go into the marketing year, but I think it's going to take while."
Anderson reports that there is currently a lot of volatility in the markets right now as speculators continue to watch mainly the foreign crops right now. Each day currently, the market plays within as much as $0.25 to $0.35 ranges. He says a farmer can either lose a lot of money or make a lot, just depending on what time of the day he or she chooses to sell. Anderson waits to see if markets will break the $5.00 cash limit, which he says if that were to happen here early on, prices would continue to climb. However, at the moment he says prices have his a very strong resistance level which he believes will keep prices churning for some time.
Still, Anderson says the weather holds fate in its hands. If there is a turn in the weather that shines favorably on foreign crops it could cause prices to drop. But he says we truly won't know until we know where the protein lies around the world. He believes once the millers have a sense of things, markets will begin to shed some of the current volatility. With only 40% of the world's wheat crop harvested though, he says it could take a while.
In the meantime, he suggests farmers here at home that have not sold their wheat, begin putting together a mechanical system with a combination of price and date triggers, to keep you on track selling your wheat, jumping on whichever trigger comes first, with preset bushel amounts. He advises farmers not to attempt outsmarting the markets, but rather take emotion out of the equation and sell methodically.
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, Alex Rocateli shows us how to estimate forage capacity before moving livestock on to pasture. He also has information about the upcoming Summer Forages Field Day.
- In the Mesonet weather report, Al Sutherland explains how rain, wind and humidity compared to normal measurements for June.
- Justin Talley says there are more hiding spots for ticks on livestock than just the ears. He shows us where to look.
- In Cow-Calf Corner, Glenn Selk explains why now is the time to pregnancy check cows for fall births.
- Finally, in Vet Scripts, Dr. Barry Whitworth has advice for producers selling cows infected with trichomoniasis.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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