Agricultural News
Kim Anderson Says Latest WASDE Projections Above Market Expectations, Causing Drop in Prices
Thu, 13 Jul 2017 16:16:19 CDT
This week on SUNUP! Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson joins host Lyndall Stout again, with an update on the US Department of Agriculture's latest World Agriculture Supply & Demand Estimates report.
According to Anderson, most of the information included in this report could be viewed neutral to slightly positive, given the current market situation. He reports the data shows global wheat production is slightly lower compared to the previous month's report. Domestic ending stocks, though, were raised slightly, but lowered a bit worldwide. He also notes that the average annual price for the 2017/18 marketing year for wheat was raised by approximately $0.50.
The problem, however, is that the information in this edition of the WASDE report, was above market expectations. This caused the trade to adjust the price of wheat down.
Despite the dip in price, Anderson has good things to say about this year's crop. He says HRW wheat this year is looking relatively good, with excellent milling qualities and good test weights at near 60 lbs. the average. However, protein levels are disappointingly low. Anderson says the takeaway from this year's crop, is to consider protein premiums. He insists they will be around next year, too, and will be available to producers who find ways to take advantage of them.
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, Carol Jones shows us around the new OkState Fire Protective Services Training, grain bin safety demonstration trailer.
- In the Mesonet weather report, Gary McManus explains why drought is lingering in some parts of the state.
- Dave Lalman has a formula for determining how many animal units to use when estimating pasture stocking rates for cattle.
- In Cow-Calf Corner, Glenn Selk says it is important to test nitrate levels in potential hay crops before cutting.
- Finally, in Shop Stop, Wayne Kiner and Randy Taylor explain the importance of safety overload devices on PTO-driven equipment.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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