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

advertisements
   
   
   
   
   
   
   
   

Agricultural News


OSU's Kim Anderson Responds to Latest USDA Model Projections for '18/'19 Wheat Marketing Year

Fri, 23 Feb 2018 14:41:07 CST

OSU's Kim Anderson Responds to Latest USDA Model Projections for '18/'19 Wheat Marketing Year The following is a response to USDA's latest model projections for the 2018/19 marketing year for all wheat, from Dr. Kim Anderson, OSU Extension grain market economist:


The USDA released model projections for the 2018/19 wheat marketing year for all wheat. Key projections were production at 1.839 billion bushels (up 5.6% from 2017/18 and 10.6% below the 5-year average), ending stocks of 931 million bushels (down 7.8% from 2017/18 and 4% above the 5-year average). The 2018/19 average annual price was projected to be $4.70 compared to the projected 2017/18 price of $4.60.



Between June 1, 2107 and December 31, 2107, U.S. wheat prices averaged $4.64 and Oklahoma wheat prices averaged $3.66 (U.S. 98 cents greater than Oklahoma). During the months of August through December 2017, the U.S. average price was $4.67 compared to Oklahoma’s $3.43. Oklahoma’s average price was $1.24 less the then the U.S. average price.



For the 20-year period 1997/98 through 2016/17, Oklahoma prices averaged 10 cents less than U.S. prices. The largest negative average was 64 cents in 2010/11 and the highest positive was 44 cents in 2007/08. The reason 2017/18 Oklahoma wheat prices are averaging 98 cents less than U.S. prices may be relatively low protein.



If Oklahoma’s 2018 wheat has a test weight above 59 pounds and protein above 12 percent, the price spread may decline to near the minus 10 cent average and making Oklahoma’s 2018/19 projected average annual price to be $4.60. Relatively low test weight and/or protein wheat crop could result in the average Oklahoma 2018/19 projected price being $3.70.





Marketing Strategy



A marketing strategy should include determining how much top-dress nitrogen will be applied and, if needed, whether fungicides will be used. From a price standpoint, why lock in a loss or very small profit? Normally, there is a price rally in late March and early April. Any big move in cash prices is not expected until the July through September time period.




Source - Kim Anderson, Oklahoma State University Extension Grain Market Economist





   

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Wednesday Market Wrap-Up with Justin Lewis  Wed, 20 Jun 2018 13:55:06 CDT
  • Wednesday Afternoon Market Wrap-Up with Carson Horn  Wed, 20 Jun 2018 13:50:37 CDT
  • Veteran Cattle Feeder Lee Borck Says Grid Marketing Cattle is Like Supplying Premium Automobiles  Wed, 20 Jun 2018 12:09:53 CDT
  • Beef Industry Feeling a Little Left Out as Senate Pushes Farm Bill Through Without Showing Its Hand  Wed, 20 Jun 2018 10:20:07 CDT
  • Non-Profit Group Says Over 2,800 Retailers to Offer E15 by 2021 in Report Touted by Growth Energy  Wed, 20 Jun 2018 09:29:43 CDT
  • Wednesday Preopening Market Update with Dave Lanning  Wed, 20 Jun 2018 07:11:33 CDT
  • Oklahoma Wheat Commission Calls Wheat Harvest 90 Percent Done in the State  Wed, 20 Jun 2018 04:05:26 CDT
  • Steer and Heifer Calves Sell 2.00 to 4.00 Higher Tuesday at OKC West Livestock Auction in El Reno  Tue, 19 Jun 2018 15:10:35 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

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

    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.