Kim Anderson Says Market is Focused on Protein in HRW Wheat While Spring Wheat Acres GrowThu, 26 Apr 2018 15:57:04 CDT
This week on SUNUP - Extension Grain Market Economist Dr. Kim Anderson joins host Dave Deeken again to discuss the developments seen in the wheat markets over the past week. Spring wheat is the big topic as the latest reports of planted acres show both the US and Canada have higher numbers than anticipated. Anderson says this is because spring wheat has more protein content and the market has created enough demand for quality protein grain to justify the additional acres.
Also in the news, Anderson reports that manage money has been seen shifting from stocks to commodities - which could potentially be a welcome lift to wheat prices.
Currently on the board, Anderson says the KC (HWW) contract is 35,000 contracts long and in Chicago, the SWW contract is about 55,000 short. Anderson says this is demonstrative of the fact that SWW has plenty of quality supply for current market needs, but good, high-quality HWW is lacking.
The good news is that Anderson says farmers are reacting to the market and paying close attention to what demand signals are being cast. If farmers are able to meet the market’s needs - with high protein and test weight - Anderson predicts farmers in western Oklahoma could potentially command a price at delivery of $4.75 with the steady 40 cent increase in the basis that has developed over the past four to five months.
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 Dave’s weekly chat with Dr. Anderson- the SUNUP crew has a very full lineup for your viewing this weekend:
We come to you from Cotton County, the first stop of the wheat variety tour season. We get an update on wheat in Southwestern Oklahoma, as well as information on what producers should be scouting for in their fields.
- In the Mesonet weather report, Al Sutherland explains how air temperature changes have impacted soil temperatures and Gary McManus says the recent rains are starting to help the drought monitor.
- In Food Whys, Dani Bellmer explains the science behind puffed foods.
- In Cow-Calf Corner, Glenn Selk says research shows there are benefits of early weaning in drought conditions.
- In Naturally Speaking, Marley Beem has springtime advice for pond owners.
- Finally, we travel to Dewey County to see how producers are rebuilding following the wildfires. If you would like to donate agricultural-related supplies, visit DonateHay.OkState.edu.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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