Kim Anderson Says Farmers May See the Price of Wheat Climb 50 Cents, But at the Cost of QualityThu, 03 May 2018 18:36:56 CDT
This week on SUNUP - Extension Grain Market Specialist Dr. Kim Anderson joins host Lyndall Stout again to share two big stories from the wheat industry. He begins with the disappointing estimates of this week’s crop tours which have pegged Oklahoma’s crop this year at an estimated 2.5 million acres harvested and producing between 58 to 63 million bushels.
Anderson provides some perspective by comparing this crop to one of Oklahoma’s worst years - 2014 - when farmers planted 5.3 million acres, harvested 2.8 million acres and produced 48 million bushels.
Although yields may be lower than normal this year, Anderson says that might be a blessing. Very little supplemental nitrogen was put down this year, according to elevator operators across the state. A lower yielding crop, though, means there will be more residual nitrogen in the ground for kernels to utilize. Anderson is optimistic this will increase the quality of the grain harvested. With that in mind, Anderson says the last wildcard is whether or not a good test weight is produced.
Over the past week, prices have jumped about 50 cents. The expectation of lower yields is certainly contributing to that, but what Anderson says is an even bigger factor is that Russia and Ukraine’s crops may not be as large as they were expecting. Apparently drought and hot weather have spread across the eastern Europe wilting crops along the way. Australia is experiencing similar conditions as well.
Right now, prices are between $5.00 and $5.20 for forward contract. However, Anderson says if these weather patterns persist and continue to affect crops, prices could rise as high as $5.75.
He advises producers to take advantage of these prices while they can, recommending the sell around 20 percent of their crop, holding on to the rest in case prices rise even higher.
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:
We start the show with information from Bob Hunger about powdery white mildew showing up in parts of Oklahoma.
- David Lalman explains how total mixed rations can help producers feed their cattle during drought.
- In Cow-Calf Corner, Glenn Selk has three signs that indicate if cows are cycling.
- Derrell Peel says livestock deaths the recent western Oklahoma wildfires will have minimal impacts on the cattle markets.
- In the Mesonet Weather Report, Al Sutherland shows how wind and warmer temperatures are taxing the moisture crops will use. Gary McManus says exceptional drought is growing but the outlook shows rain could return to those areas.
- Finally, we head to Rogers County to learn how a 4-Her’s passion for insects has driven her to overcome obstacles in life.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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