In Honor of College Football Season, Kim Anderson Talks the X's and O's of the World Wheat MarketThu, 31 Aug 2017 16:35:01 CDT
This week on SUNUP - Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson joins host Lyndall Stout to talk wheat production worldwide and how the US crop matches up. In honor of college football season kicking off, Dr. Anderson gives his update with a sporting flair.
According to Anderson, Russia has “ran the opening kick-off for a touch-down,” this year.
He reports that the five and ten-year averages of Russia’s wheat crop have totaled around 2 billion bu. This year, though, Russia has harvested nearly 33% more than the average at 3 to 3.1 billion bu.
And, Anderson says the quality of their crop is very good also, with protein levels at around 12.5%, easily meeting export demand. In fact, this is the first year the Russians have sold and delivered wheat to Venezuela - a market typically controlled by the US and Canada.
The US will usually export about 4.4 million bu. to Venezuela but this year, that amount is expected to be cut in half.
France, too, has had an excellent crop this year that is significantly higher compared to last year. It has been reported that 92% of the crop there is measured with at least 11.5% protein or better and has excellent milling characteristics also.
The US is feeling the pressure of increased competition this year, says Anderson, who notes that the average protein of US wheat this year ranges at about 10.8-10.9% when millers need at least 11.4-11.6%. Total production in the US is down from 2.3 billion bu. to 1.7 billion bu. this year.
He suggests farmers concentrate on both quality and quantity next year. If protein levels can be improved - he predicts there might be a chance to see prices rise from the current $3.20 range up to $4.50 and maybe even $5.00.
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, Tom Royer has an update on fall armyworms and soybean caterpillars.
- In Cow-Calf Corner, Glenn Selk explains the science behind weaning calves for 45 days before a sale.
- Then, Gant Mourer has dates for the Oklahoma Quality Beef Network sales and a new way of tracking gain of cattle following
- In the Mesonet weather report, Al Sutherland has rainfall amounts from last week and Gary McManus shows us how August compared to average.
- Finally, Justin Talley explains how the dung beetle can control horned flies.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
WebReadyTM Powered by WireReady® NSI
Top Agricultural News