Kim Anderson Says Russian Wheat Could Make it to Oklahoma Mills if Drought PersistsThu, 01 Feb 2018 17:37:14 CST
This week on SUNUP - Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson joins host Lyndall Stout again talking marketing strategies for wheat producers this year.
According to Anderson, wheat markets rallied this week and would now allow producers to forward contract harvest wheat at $4.20. Anderson believes this rally will be sustained until it rains - if it ever does. When and if it does rain, price for wheat will go down but conversely yields can be expected to go up which will offset the lower price.
However, in the scenario that rains do not come in time and drought continues, Anderson believes the price of good quality wheat with high test weight and protein levels could command a price up to between $6.00 and $7.00 a bushel - basing that figure on the cost of hypothetically importing Russian wheat.
Given that forecasts currently are betting that the drought will continue on through at least May, Anderson says wheat farmers will need to take advantage of the potentially higher prices that he expects may come down the road. For that, he discourages producers from forward contracting their wheat at the current $4.20 price.
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 Lyndall's weekly chat with Dr. Anderson- the SUNUP crew has a very full lineup for your viewing this weekend:
This week on SUNUP, we start with an update on the wheat crop with David Marburger.
- In the Mesonet weather report, Al Sutherland shows us the area that has gone without rain for 124 consecutive days. Gary McManus explains why extreme drought is growing on the latest drought monitor.
- Brian Arnall explains why low soil pH is not productive for plants.
- In Cow-Calf Corner, Glenn Selk has recommendations on how to combat respiratory acidosis during the calving process.
- Then, Derrell Peel analyzes the USDA’s latest Cattle Inventory Report and what increasing drought conditions mean for the livestock industry.
- In Food Whys, Food Safety Specialist, Ravi Jadeja, tells us why not all food recalls are the same.
- Finally, we see how the Oklahoma 4-H Music Corps is helping students not only grow their musical talents, but their leadership abilities.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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