• Home
• Listen to Ron
• Ag News
• Markets
• Calendar
• Auctions
• Weather
• Email Archives
• Agri-Innovations
• Beef Buzz
• RON Radio Affiliates
• Contact Us

advertisements
   
   
   
   

   

Agricultural News

Dr. Kim Anderson Reports World Wheat Production Up in WASDE Report, Markets React Negatively

Thu, 10 Aug 2017 16:04:15 CDT

In a web-exclusive interview this week with Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson, SUNUP host, Dave Deeken, enquires about the numbers in the August World Agricultural Supply and Demand Estimates report out from the US Department of Agriculture Thursday morning.


According to Anderson, the information in this report was mostly negative as it relates to supply and demand for wheat. Anderson remarked that prices began to "tank" once the report was released Thursday morning, denoting traders' reaction.


Anderson quotes that world wheat production was raised 200 million bushels to 27.3 billion bushels, making it the second highest production on record, behind last year's of 27.7 billion bushels and 500 million bushels above the five year average.


While US wheat production was down about 550 million bushels, he said, foreign production (mostly the former Soviet Union states and the EU) more than made up for the loss by the US this year. Foreign production he quoted at a total 25.6 billion bushels.


This production in Europe is likely to negatively impact domestic wheat prices, especially if Russia and the Ukraine's infrastructure proves viable for getting wheat stocks exported in an efficient manner.


Anderson says he expects another rally in wheat price to happen soon, but warns that with prices as low as they are currently, a rally would not be as lucrative. Currently, the national average price rests between $4.50 and $4.80. Oklahoma's prices typically run $0.50 below the national average leaving our prices at home around $4.30 to $4.50 and have averaged lately around $4.10.


Anderson's outlook for this fall is that marginal acres may be left out of production this year after two years of low prices, bringing total Oklahoma wheat planted acres down yet again.


Click here to view the WASDE report for yourself, or click here to see USDA's Crop Production numbers.


There will be no airing of SUNUP this week, due to programming conflicts, but you can hear Dr. Anderson's comments on today's WASDE report, by clicking or tapping the LISTEN BAR below.



   




   

Hear Anderson's comments on today's WASDE report, by clicking or tapping the LISTEN BAR below right-click to download mp3

 

WebReady^TM Powered by WireReady® NSI

 

Top Agricultural News

Oklahoma Youth Expo Sale of Champions Sale Order Available Here- Sale Set for 4 PM Friday  Fri, 17 Mar 2023 04:50:54 CDT

Rural Voters Dominated Vote to Defeat Recreational Marijuana March 7th  Fri, 10 Mar 2023 07:13:05 CST

Ron Hays Talks to Israeli Ag Tour Guide Colin Lotzof About the Miraclel of Ag in Israel  Wed, 22 Feb 2023 22:11:04 CST

OALP Members Experience First Hand View of Cutting Edge Drip Irrigation Technology as Israel Travel Ends  Wed, 22 Feb 2023 10:51:49 CST

OALP Members Get First Hand View of Cutting Edge Drip Irrigation Technology as Israel Travel Ends  Wed, 22 Feb 2023 10:50:10 CST

Oklahoma Ag Leadership Program Sees Fruit, Beef and Dairy Production North of the Sea of Galilee in Israel  Mon, 20 Feb 2023 21:56:02 CST

Oklahoma Ag Leadership Program Sees Diverse Farm Operations in Jordan River Valley of Israel  Sun, 19 Feb 2023 21:17:30 CST

Israeli Tour Guide Mark Kedem Talks About The Cultural Aspects of What Class XX of OALP is Experiencing   Sat, 18 Feb 2023 22:17:23 CST

More Headlines...