Kim Anderson Says Eyes of the Wheat World on the Upcoming US Crop and Focused on QualityThu, 14 Dec 2017 16:20:49 CST
This week on SUNUP - Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson joins host Lyndall Stout talking wheat and feed grain production this year and what effects it will have on prices this coming harvest season.
Obviously, a good year for production in Oklahoma and across the world, but not so good for prices weighed down by the glut of worldwide stocks. While prices remain depressed at the moment, Anderson says the good news is that prices are likely at their bottom. The odds of them going any lower are unlikely, leaving only up or sideways for them to go.
Currently, Anderson reports that producers with soybeans and oil crops are making a profit due to a shortage of protein in the marketplace. This lack of protein, Anderson says, gives wheat growers added opportunity to raise their potential returns on their wheat crop at least to breakeven prices of about $5.00 a bushel - if they can provide a high-quality crop and secure the $2.25 premium being offered for high protein wheat. With our crop next in line for harvest, Anderson says Oklahomans and domestic producers stand the best chance of providing that wheat and taking advantage of the available premiums.
While growers understand what they must do to produce a quality crop, the wildcard remains, which is of course the weather. As drought continues to spread across Oklahoma and the Plains, so do concerns that farmers will be short of rain this year. Anderson says that a wheat crop is made during March, April and May and says farmers should hope that the precipitation needed comes during that time period.
If not, though, he says we are likely to see farmers react by rolling those acres into summer crops. Doing so will perhaps improve wheat prices some, but likely negatively impact summer crop prices that would be subject to higher production and therefor lower prices. Still, though, it will probably take several years before current wheat stocks are worked through the system. As a result, Anderson says producers shouldn't expect prices to improve dramatically for some time.
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. Anderson's weekly chat - the SUNUP crew has a very full lineup for your viewing this weekend:
This week on SUNUP, Dave Lalman has advice for cattle producers planning to feed cottonseed to cattle.
- In the Mesonet weather report, Al Sutherland explains why changing temperatures impact crop growth. Gary McManus shows us how moisture over the past 90 days affects the latest drought monitor.
- Then, David Marburger tells us what to expect from the wheat crop if we don't get rain soon.
- In Cow-Calf Corner, Glenn Selk says we should start planning for nutritional needs of older cows now, to prevent grass tetany at calving.
- Finally, in Vet Scripts, Extension veterinarian, Dr. Barry Whitworth, explains how copper deficiencies can impact calving.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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