Kim Anderson Offers His Preview of the Latest WASDE and Seedings Reports Coming From USDAFri, 12 Jan 2018 04:50:50 CST
This week on SUNUP - Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson joins host Dave Deeken again, with his thoughts in advance of the first major reports from the United States Department of Agriculture for 2018. According to Dr. Anderson, he expects little change from these reports for most major crops when they are released Friday morning at 11 AM central time. (Note- Dr. Anderson recorded his conversation with Dave Deken on Thursday- a day ahead of when the reports are to be released)
“Just more of the same,” he said, referencing the World Agricultural Supply and Demand Estimates report. “If there’s any price movement from this, it will be on Monday.”
Anderson says world wheat stocks are expected to decline fractionally, but with the already massive stocks, he insists it will take major changes before producers see any notable improvement in prices.
The Seedings report will also be released on Friday morning. Anderson reports that HRW and winter wheat plantings are expected to be down approximately eight percent, or 30+ million acres - the lowest since 1906. As the number of acres have declined over the last several years, Anderson says more pressure has been placed on yields, which have offset things enough to keep production at about the same level.
Currently, though, producers with wheat in the ground is still being considered to be used either for graze out or grain. But, Anderson says the determining factor will be whether or not we get any moisture and if so, when?
In order to make a significant impact in the price of wheat - Anderson believes it will take a major loss of production in the former Soviet Union states, or perhaps from another major competitor or combination of either Australia, Argentina, or the European Union. In the short-run, though, Anderson says one thing farmers at home can do to at least get prices up to breakeven levels, is quality.
“Get back to test weight and protein,” he advises. “Give millers something they can work with and we’ll return to $5 wheat.”
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, we join you from the 2018 Oklahoma Cooperative Extension Service Conference. We start with a story about a 4-Her from Bryan County demonstrating how sweet bees can be.
- In the Mesonet weather report, Al Sutherland shows us what parts of the state have not seen rain in over 100 days. Gary McManus explains why extreme drought is showing up on the latest drought monitor.
- Brian Arnall explains the +’s (positive charge) and -‘s (negative charge) of nutrient interactions with the soil.
- In Cow-Calf Corner, Glenn Selk has recommendations on how long to wait before giving assistance to a calving cow or heifer.
- Then, Derrell Peel explains what exports to China could do for the cattle industry.
- Finally, DASNR Vice President Tom Coon notes the distinguished career of Jim Trapp upon his retirement and welcomes Damona Doye as the new leader of OkState Extension.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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