Five-Dollar Wheat has Come and Gone but OSU's Kim Anderson says there's Potential to See it AgainThu, 22 Mar 2018 16:17:34 CDT
This week on SUNUP - OSU Extension Grain Market Economist Dr. Kim Anderson joined host Dave Deeken again to discuss the market’s influence on the current price of wheat and his expectations moving forward.
In recent weeks, the price of wheat has achieved roughly $5.00 a bushel. However, that price has since declined. The peak of that price range Anderson attributes to ongoing drought conditions.
“You look back at December and January, drought started to build up all the way into March,” he said. “The market saw yield going down for Kansas, Oklahoma and Texas. So, they bid up the price.”
Anderson feels, too, the market probably sees lower yields as a sign that this crop might have higher protein content and perhaps higher test weight as well. However, recent rains in HRW wheat areas resulted in the market slashing that offering by about 50 cents.
However, Anderson believes $5.00 wheat is still an obtainable goal for the future as we get closer to harvest - provided growers deliver a quality crop complete with good milling and baking characteristics. If that happens, Anderson thinks the market will make their move early on. The longer a farmer waits to sell towards July, August and September when the EU and Russia begin their harvest, he predicts prices will likely fall if those European nations have higher yields and good production.
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 Deeken’s weekly chat with Dr. Anderson- the SUNUP crew has a very full lineup for your viewing this weekend:
- Bob Hunger explains what producers should be scouting for to limit diseases in wheat.
- Then, Dave Lalman has advice for helping cattle producers feed with limited hay and forage through drought.
- In Cow-Calf Corner, Glenn Selk tells us why selecting and acclimating new bulls to the herd now, will help during breeding season.
- Derrell Peel talks about how drought conditions are impacting cattle markets across the Western parts of the United States.
- In the Mesonet weather report, Al Sutherland shows us how the seasons have changed in Oklahoma over the past three weeks.
- In Vet Scripts, Dr. Barry Whitworth explains the importance of using the correct newborn replacer for the livestock species.
- Finally, we visit Pittsburg County to learn why Woodard’s Workshops gained National 4-H attention.
Join us for SUNUP:
Sunday at 6 a.m. on OETA-TV
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