Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   
   

Agricultural News


Kim Anderson Advises Farmers Consider Returning to Wheat as Profitability in Summer Crops Fade

Thu, 16 Aug 2018 18:45:12 CDT

Kim Anderson Advises Farmers Consider Returning to Wheat as Profitability in Summer Crops Fade Given the steady decline in commodity prices, particularly in the soybean market, the 2018-2019 crop year may be a good time for many farmers in Oklahoma to consider returning to wheat rather than some of the other summer crops that have drawn their attention the last few seasons. Oklahoma State University Extension Grain Market Economist Kim Anderson made that argument this week in an interview with SUNUP Host Lyndall Stout.


In the past few weeks, commodities across the board have steadily declined. Not just grains but all commodities- metals, fuels, gold, silver, etc. Anderson attributes a large part of this to the strengthening of the US Dollar. In the past week, the USD has risen almost two percent and in the past few months, nearly four to five percent. In that time, the price of wheat, corn and soybeans have all dropped from 30 cents to as much as a dollar or more. Wheat had rallied up to $6.00/bu. but has since fallen below $5.00. Anderson says the US has simply been outpriced by the Black Sea market.


According to recent reports, Egypt just bought a large cargo of wheat from Russia for $7.00 which adjusted the inland price of wheat here in Oklahoma down to around $5.00, knocking off that rally that had excited the market.


In planning for this coming year, though, Anderson advises farmers to consider the bigger picture of the crop situation as they make their planting decisions. This year, soybeans overtook corn as the major player in agriculture. And currently, the US is embroiled in a trade war with its largest soybean customer, China, which has significantly damaged prices. But, Anderson says all markets are depressed due to overwhelming production and stocks weighing on prices. Anderson insists that one cannot expect to increase production and ending stocks as much as they have been this year (many of which exceeding existing records) and not see prices decline. Anderson suggests farmers consider returning to wheat as an alternative.


You can hear Kim's full remarks on the current market situation, by clicking on the LISTEN BAR below.




   




   

You can hear Kim's full remarks on the current market situation, by clicking on the LISTEN BAR below
right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Kim Anderson Explains the Fundamental Change That's Occurring in the Global Wheat Market  Thu, 25 Apr 2019 17:52:07 CDT
  • Thursday Market Wrap-Up with Justin Lewis  Thu, 25 Apr 2019 16:00:23 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Thursday, April 25, 2019   Thu, 25 Apr 2019 15:56:03 CDT
  • Got Chemicals? Oklahoma Unwanted Pesticide Disposal Program Coming Up May 21, Pittsburgh Co.   Thu, 25 Apr 2019 15:40:32 CDT
  • Oklahoma Prescribed Burn Association to Host Fire Suppression Training School in Woodward, OK  Thu, 25 Apr 2019 15:31:33 CDT
  • USDA Southern Plains Climate Hub to Host Soil Health Conference for Central Oklahoma - May 17th  Thu, 25 Apr 2019 14:47:11 CDT
  • Biodiesel Companies Highlight Jobs that Depend on the Biodiesel Tax Incentive  Thu, 25 Apr 2019 14:30:21 CDT
  • Thursday Afternoon Market Wrap-Up with Carson Horn   Thu, 25 Apr 2019 14:02:28 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Herbs Herb Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show AFR Insurance Stillwater Milling KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Search OklahomaFarmReport.com


       
       
    © 2008-2019 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.