Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm Programming Radio Oklahoma Network  |  7401 N. Kelley Ave. Oklahoma City, OK 73111  |  (405) 841-3675  |  Fax: (405) 841-3674

advertisements
   
   
   
   
   
   
   
   

Agricultural News


Wheat Prices Attempting to Create a Bottom, But Optimism Wanes for Potential Price Improvement

Thu, 03 Aug 2017 18:33:44 CDT

Wheat Prices Attempting to Create a Bottom, But Optimism Wanes for Potential Price Improvement On Thursdays, we typically summarize regular SUNUP guest Dr. Kim Anderson’s weekly comments on the grain markets. However, SUNUP, which generally airs on OETA-TV Saturday and Sunday mornings, will not be broadcast for the next couple weeks - with its next airing scheduled for August 17th.


However, Radio Oklahoma Ag Network Associate Farm Director Carson Horn caught up with Anderson during the Oklahoma Wheat Growers Convention Thursday in El Reno, Oklahoma to get his weekly update. You can hear their full conversation, by clicking or tapping the LISTEN BAR below at the bottom of the page.


Currently, according to Anderson, markets are attempting to make a bottom. He says current prices levels have received strong support - driven by information on Russia’s crop soon to be harvested. He says every report that comes out of Russia raises production expectations. At the moment, it seems Russia will have produced as much or more than their crop from last year.


“We’re talking about 200 to 400 million bushels here,” he said, “and that’s having an impact on our prices. Hopefully we’re on the bottom right now.”


As we get further into the August, September, October months, he says the markets will continue to get a better handle on the size and quality of the foreign crops as they are harvested. Anderson says reports are already coming in - with Australia’s crop potentially set to fall as much as 33% below last year’s production. In addition, Argentina is reporting many acres were left unplanted that they had hoped would be. All positive signs for prices, but still, Anderson remains cautious about what to expect.


“I saw one report that said we’ve seen the high price for the year; that’s a possibility,” he said. “I think prices are just going to waller around now until we get the full information on the Russian crop and what happens in Argentina and Australia. I’m not very optimistic right now.”




   




   

Hear Grain Market Economist Kim Anderson's comments on the likelihood of wheat price improvement
right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Brazil's Ag Minister Breaks News of Government's Decision to Approve Tariff on US Ethanal in Tweet  Wed, 23 Aug 2017 18:52:03 CDT
  • State Animal Health Officials Monitor Equine Infectious Anemia in Southwest Kansas  Wed, 23 Aug 2017 15:48:57 CDT
  • Cooperative Extension Offers Producers Diagnostic Service to Test Weeds for Herbicide Resistance  Wed, 23 Aug 2017 15:39:36 CDT
  • Activists Boldly Upfront About Their True Goals for Animal Agriculture, "We're Not Here to Negotiate"  Wed, 23 Aug 2017 14:55:47 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Wednesday, August 23, 2017  Wed, 23 Aug 2017 14:48:20 CDT
  • Feeder Steers and Heifers Sell Mostly 1.00 - 3.00 Lower Wednesday at OKC West Livestock Auction  Wed, 23 Aug 2017 14:39:28 CDT
  • Wednesday Market Wrap-Up with Justin Lewis  Wed, 23 Aug 2017 14:32:04 CDT
  • Wednesday Afternoon Market Wrap-Up with Carson Horn   Wed, 23 Aug 2017 14:17:41 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Livestock Exchange Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show Stillwater Milling American Farmers & Ranchers KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Search OklahomaFarmReport.com


       
       
    © 2008-2017 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup

    WebReady powered by WireReady® NSI