Kim Anderson Says Markets Were Excited After the Release of USDA's Prospective Plantings ReportThu, 29 Mar 2018 17:24:33 CDT
This week on SUNUP - OSU Extension Grain Market Economist Dr. Kim Anderson joins host Dave Deeken again to discuss the Prospective Plantings report out yesterday from the USDA and what it tells us about this year’s wheat and cotton crop.
In Anderson’s opinion, this report turned out to be better than the market was expecting it to be with most crops seeing more acres planted than what was anticipated. Corn beat the trade’s expectation of 80.4 million acres at an actual planting of 88 million. Soybean a bit lower than the expectation of 91 million acres at 89 million. Both of which is good for corn and soybeans respectively, Anderson says.
Wheat came in slightly higher than expected at a total of 32.7 and cotton slightly lower than trade’s expectation at 13.5 million, up from last year’s total of 12.6 million acres planted. Anderson says cotton in Oklahoma looks to have come in at around 680,000 acres - lower than the 700-750,000 that was being talked about. That’s in comparison to last year’s 585,000 acres that was sown in cotton.
Anderson says that if weather and production is good, Oklahoma stands the chance to have a profitable cotton crop with the board showing a price of 70-77 cents, despite the sheer amount of farmers that turned to cotton this year. Anderson does admit, though, he fears that 77 cents will not hold for long but says it is worth the gamble.
He also says that this year’s corn crop could affect the price of wheat. He is hoping that with corn acres down, the price of corn will increase - which in turn will cause wheat to be more affordable and thus be fed more in the feedyards and help move the glut of wheat stocks that continue to weigh on the market.
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.
We’ll get an update on the canola crop and canola tour dates, planting information for conventional and no-till sorghum growers and the final dicamba training date from Josh Lofton.
- In the Mesonet weather report, Al Sutherland shows us how the recent rains and soil temperatures are impacting crops and Gary McManus looks at rainfall totals since September.
- Then, Shannon Ferrell explains the importance of setting up family farms and ranches as a business.
- In Cow-Calf Corner, Glenn Selk looks at research about cow nutritional needs to increase re-breeding.
- Larry Sanders explains how agriculture could be impacted by new tariffs on steel and aluminum.
- In Food Whys, Danielle Bellmer explains what natural sugars really are.
- Finally, we see how CASNR students are introducing agriculture to elementary students.
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