Kim Anderson Reports on Progress of Wheat Crops Around the World Moving Toward MaturityThu, 08 Mar 2018 16:47:53 CST
This week on SUNUP - Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson joins host Lyndall Stout again, with the latest grain market developments.
Anderson touched on recent rallies in the wheat markets, but says the major news is coming from Russia which sold a large amount of wheat to Egypt this week for $214/ton or roughly $5.80/bushel. That price is nearly 60 cents higher than prices seen in early January when Russia was selling wheat at $193/ton or $5.20.
Across Oklahoma, Texas and Kansas, Anderson says wheat conditions have improved slightly, but not much. Meanwhile, both Russia and Ukraineís projected crop for 2018 is anticipated to be down about two percent. Internationally, wheat crops are looking fairly good especially in Australia with dramatic improvement from last yearís disastrous crop. All except France, which has the worst conditions currently it has had in the last four years.
Managed fund positions in the futures markets have also been interesting to watch this week, particularly in regard to corn and soybeans. Corn picked up about 38 to 40 cents this week as contracts have ran about 100,000 long, while soybeans advanced 40 to 45 cents, currently about 200,000 contracts long. SRW wheat contracts havenít changed much, while HRW is currently 9 to 10,000 long.
At the elevator, harvest delivered wheat is being offered a forward contract price of roughly $5.00, currently. Corn, about $3.55 and near the same for sorghum. Soybeans, injecting a bit of optimism in the marketplace with a forward contract price of $9.50.
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:
Although our Saturday show will be preempted for special programming we will have a new show Sunday morning, March 11.
- David Marburger explains how the Oklahoma wheat crop is progressing following the recent moisture.
- Then, Eric DeVuyst explains the reclassification of cotton by the USDA.
- Derrell Peel gives an update on stocker and feeder markets.
- In Cow-Calf Corner, Glenn Selk tells us why the body condition of cows following calving is important to rebreeding.
- Next, Brian Arnall demonstrates how to sense the nitrogen needs of wheat with GreenSeeker technology.
- Finally, we revisit a story from Blaine County, where 4-H is helping Watonga fourth and fifth graders bend and stretch into future leaders.
Join us for SUNUP:
Sunday at 6 a.m. on OETA-TV
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