USDA Seedings Report Suggests Farmers Can Expect Another Year of Increased Wheat ProductionFri, 19 Jan 2018 13:10:27 CST
This week on SUNUP - OSU Grain Market Economist Dr. Kim Anderson joins host Lyndall Stout again, this time recapping the USDA’s Ending Stock, WASDE and Seedings reports released last week. According to Anderson neither the stocks or WASDE report made much impact on markets, but the Seedings report did - especially related to HRW.
Anderson says the price of wheat fell $.014 last Friday followed by another $0.04 on Monday. Since then he says it has gained back about $0.08 over the week. Looking at other grains though, corn he says was essentially unchanged and soybeans actually received a $0.10 bump upon the report’s release and then another $0.23 the following session.
What caused wheat’s price to drop, Anderson says, is that the expectation was for wheat seedings to drop by about 10%. However, the report actually noted a 1% increase. In translation, 9% more wheat acres were planted that what was anticipated which means the industry can once again expect increased production.
Anderson says Oklahoma farmers reacted to the already low wheat prices, and planted 9% less acres. But farmers in Kansas and Texas, collectively planted 9% more, effectively offsetting the amount Oklahoma didn’t plant.
Not all is bad though, says Anderson. With increased production - if consisting of quality grain with high protein content and test weight - it can be blended with the subpar grain sitting in bins. By doing so, Anderson says producers may be able to market their grain better and get it moving. But, he stresses that this year’s production must be of high quality.
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.
This week on SUNUP, Oklahoma State’s Summer Crop Weed Specialist, Todd Baughman, has details on new pesticide labels that require retraining and certification.
- In Cow-Calf Corner, Glenn Selk has suggestions for what needs to be in your calving kit.
- Then, Soil Nutrition Specialist Brian Arnall, explains how plants benefit from the soil’s cation exchange capacity, or CEC.
- In Vet Scripts, Extension Veterinarian, Dr. Barry Whitworth, says it is essential to keep livestock hydrated, even in cold weather.
- Roger Sahs looks at how current land values across the state compare historically and nationally.
- In the Mesonet weather report, Al Sutherland shows us what parts of the state desperately need rain. Gary McManus has the latest drought monitor.
- Finally, every five years, the USDA’s National Agricultural Statistics Service takes a snapshot of production in every county across the country. The deadline is approaching to be counted.
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