Economist Kim Anderson Reacts to '18 Wheat Crop Estimates, Says Success Lies with Test WeightWed, 02 May 2018 15:32:53 CDT
Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson offered his reaction, yesterday, in regard to estimates on Oklahoma’s 2018 wheat crop released during the Oklahoma Grain and Feed Association’s annual meeting. Estimates calculated at the meeting place expectations of this crop coming in at approximately 62 million bushels total production for the year. Listen to Anderson offer his full reaction to Radio Oklahoma Ag Network Farm Director Ron Hays by clicking or tapping the LISTEN BAR below.
“Yeah, it’s definitely a short crop. You look over the last five to ten years… Oklahoma probably averages about 100 million bushels,” Anderson said. “They’re talking 60 to 63. I think the more important question right now is what’s the test weight and what’s the protein going to be?”
In speaking with elevator managers across the state, Anderson’s consensus of the situation is that this year’s short crop may potentially be conducive to having good protein - but the main concern now is over test weight.
“Protein without test weight is not a quality of milling product,” Anderson remarked. “They are concerned about how they are going to market this crop when it comes in. From here on out, we need to hope the wheat comes in with test weight and with protein.”
Currently prices are at $5.00 a bushel across Oklahoma, but even at that price, Anderson says farmers’ are still facing a negative bottom line. Many farmers have responded to that fact shifting their wheat acres to cotton this year. When faced with 80+ cent cotton, Anderson says he sees the appeal, but warns that cotton requires a higher investment, has more risk associated with it and is completely dependent on good weather conditions.
“We’ve got the price,” Anderson concluded, “we just need the weather to get it in.”
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