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Agricultural News


This Week on SUNUP - Kim Anderson Says Markets Need Russian Wheat to Fail Before Prices Rise

Thu, 05 Jul 2018 15:47:08 CDT

This Week on SUNUP - Kim Anderson Says Markets Need Russian Wheat to Fail Before Prices Rise Over the last few weeks, the wheat market has watched as cash prices have declined by as much as a dollar leading up to the rollover of bidding from the July Kansas City contract to the September contract, which led to a roughly a 20 cent drop in the basis with no change in the cash price.


This week on SUNUP - Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson addresses these new developments in the market with host Lyndall Stout and offers his advice to producers revising their marketing strategies in accordance to this news.


Since the most recent drop in prices at the beginning of this week, Anderson says part of that 18 cents or so was recaptured the following session. From here, though as we move toward fall, Anderson says what happens in the market will depend heavily on what transpires in the foreign markets.


“Let’s get real. Basically, it’s what happens in Russia and right now they’re having some problems in their production,” Anderson said. “It’s projected to be about 400 million bushels less than last year. That’s good news for us. But, to get a good rally we’ve got have a crop loss in Russia and we are going to have to lose more than 400 million bushels.”


With prices a dollar lower, Anderson advises producers who can afford a 50 cent price risk, to hold off selling their wheat until late September, early October utilizing the strategy of selling off a third of your crop at a time through the end of the year.


For those that sold all their wheat before the bottom fell out under prices, Anderson suggests spending some that money, maybe 17 to 20 cents of that extra dollar, on a call. That way, if Russia and the other crops are lost and prices rally, you will be able to take advantage of it.


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:


This weekend, we are taking a look at some of our favorite wheat harvest stories from over the years.


- In Cow-Calf Corner, Glenn Selk explains why proper mineral distribution is important for cattle and how to track usage.


- Finally, Alex Rocateli has information about the 2018 Summer Forage Field Day.


Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV




   



   

You can watch their visit tomorrow or Sunday on SUNUP- but you can hear Kim's comments right now
right-click to download mp3

 

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