Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211


Agricultural News

This Week on SUNUP Kim Anderson Says Wheat Price's Descent Slowing But Hasn't Hit Bottom Yet

Thu, 30 Nov 2017 17:12:45 CST

This Week on SUNUP Kim Anderson Says Wheat Price's Descent Slowing But Hasn't Hit Bottom Yet This week on SUNUP - OSU Extension Grain Market Economist Dr. Kim Anderson speaks with host Dave Deeken about the contract price of wheat this week, which turned lower since the last episode.

Anderson reports that both corn and wheat set new contract lows this past week.

Wheat had support at $4.30, but has since worked its way down to $4.25. Anderson had previously warned that breaking its support line at $4.30 would open up the potentiality of dropping by as much as $0.20 before it hit another support level. But currently, he says it has come off that some and is just treading water for the moment in a limited range. Nonetheless, Anderson admits breaking the $4.30 mark has made him a bit nervous about the future.

Still, the general consensus is that both commodities, corn and wheat, are at or near their bottom. Rather than just a seasonal reaction of some sort, Anderson believes the current movement being seen is all relevant to the overall trend in the markets.

He says at the moment, traders dealing with Chicago wheat contracts are near 109 - 110,000 short. This situation is mirrored in other commodity markets as well, including corn which set a record of 23,000 contracts short. Hard wheat, currently is running between 15 and 20,000 short.

Anderson says traders have mostly been selling into this market, rather than buying. The main thing right now, he insists, is for profitability to return, the commodities must clear the market some first. And then, he says any chance of seeing a price increase will depend on the quality of product farmers deliver at harvest. He repeats again his message that given high test weight and protein levels, prices will indeed go up by $0.75 to a $1.00 more.

You can watch their visit tomorrow or Sunday on SUNUP - or you can hear Kim's comments right now by clicking on the LISTEN BAR below.

Beyond Dr. Andersonís weekly chat - the SUNUP crew has a very full lineup for your viewing this weekend:

This week on SUNUP, we start with a soil nutrition update for winter crop fields from Brian Arnall. We also learn about the upcoming Winter Crop School.

- Then, in the Mesonet weather report, Gary McManus says drought is growing across the state, but there are chances for rain in the forecast.

- Ryan Reuter explains why Oklahoma works so well for dual-purpose wheat as a forage.

- In Cow-Calf Corner, Glenn Selk uses personal experience to explain the importance of making room now for spring-born calves.

- Finally, we head to Ardmore to see what researchers hope to learn about the impact of feral hogs on pecan harvest.

Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV



You can watch their visit tomorrow or Sunday on SUNUP - or you can hear Kim's comments right now
right-click to download mp3


WebReadyTM Powered by WireReady® NSI


Top Agricultural News

  • Soy Assoc Warn Retaliatory Action by China in Response to Tariffs may Cost Farmers their Livelihood  Thu, 22 Mar 2018 12:39:08 CDT
  • Free Trade Group Says Tariffs Stemming from China Investigation puts Target on US Farmers' Back  Thu, 22 Mar 2018 12:27:45 CDT
  • Secretary Sonny Perdue Calls on Congress to Pass Omnibus Bill Containing Mutliple USDA Priorities  Thu, 22 Mar 2018 12:19:08 CDT
  • NGFA Commends Congressional Leadership for Including Section 199A Fix in Omnibus Spending Bill  Thu, 22 Mar 2018 12:13:27 CDT
  • CAST Releases Paper on Regulatory Barriers Blocking the Development of Agricultural Innovation  Thu, 22 Mar 2018 12:03:46 CDT
  • More Weekend Rain Forecasted But Not Likely to Impact Driest Corner of the State Near Panhandle  Thu, 22 Mar 2018 11:48:33 CDT
  • LMIC's Jim Robb Says USDA's Next Cattle on Feed Report Has Potential to Surprise the Marketplace  Thu, 22 Mar 2018 11:07:09 CDT
  • Thursday Preopening Market Update with Dave Lanning  Thu, 22 Mar 2018 07:10:04 CDT

  • More Headlines...


    Ron salutes our daily email sponsors!

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

    Search OklahomaFarmReport.com

    Find more about Weather in Oklahoma City, OK

    © 2008-2018 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.