This Week on SUNUP - OSU's Kim Anderson Breaks Down the Numbers in Latest WASDE ReportThu, 13 Sep 2018 19:03:30 CDT
The Latest World Agriculture Supply and Demand report published by the USDA Wednesday, predicts the second-largest corn crop for the United States this year and a record soybean crop. Oklahoma State University Grain Market Economist Dr. Kim Anderson breaks down the numbers in this week’s report during his next appearance on SUNUP with host Dave Deeken.
According to Anderson, corn production is forecast at 14.82 billion bushels, up 241 million from last month on an increased yield forecast. The outlook predicts larger production, increased domestic use, greater exports, and higher ending stocks. The season-average corn price received by producers is projected ten cents lower with a midpoint of $3.50 per bushel.
Meanwhile, Anderson says U.S. Soybean production is projected at a record 4.6 billion bushels, up 107 million on a record yield forecast of 52.8 bushels per acre. The season-average soybean price is forecast at $7.35 to $9.85 per bushel, down $0.30 at the midpoint.
In addition, the wheat supply and demand estimates are unchanged from last month, and the season average farm price range is unchanged at the midpoint of $5.10 per bushel and the range is narrowed $0.20 per bushel to $4.70 to $5.50. Anderson reiterates that the world is not producing as much wheat as it is consuming currently. By next harvest season, Anderson predicts the demand for high-quality protein wheat will have risen. He says farmers should plan accordingly to take advantage of the premiums that will be offered high-protein content. In the meantime, he says Russia and the eastern European states will continue to influence global wheat prices commercially.
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 Deeken's weekly chat with Dr. Anderson- the SUNUP crew has a very full lineup for your viewing this weekend:
This week, we join you from the 90th annual Noble County Free Fair in Perry. We start the show with advice from Phil Mulder about managing pecan weevils and aphids.
- In Cow-Calf Corner, Glenn Selk explains how weaning dates can impact upcoming pregnancies.
- Derrell Peel says exports of U.S. beef continue to grow, even as trade negotiations resume.
- In the Mesonet weather report, Wes Lee looks at how the reduced solar radiation has impacted soybean production. Gary McManus says even though we have had rain, overall parts of the state are well below average.
- Dave Lalman has a reminder about Oklahoma Quality Beef Network weaning dates and provides an overview for those considering the program.
- In Food Whys, Andrea Graves tells us about the “Cowboy Cooking” trend.
- Then we learn from David Jones how technology is helping Oklahoma dairy producers and the herds they manage.
- Finally, young people in Noble County bring their farm skills to the fair for a unique competition.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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