Kim Anderson Says US Will See Wheat Prices Rise When Russia Runs Out of Wheat, on SUNUP!Thu, 18 Oct 2018 20:06:19 CDT
It has been yet another week of sideways trading in the wheat markets. The question on producers’ minds is - when will there be an increase in prices? According to Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson, the best chance for to see an uptick in the markets for US HRW, will be when Russia runs out of wheat to export.
In an interview with SUNUP Host Lyndall Stout this week, Anderson explained that with Russia’s total crop production for the year coming in smaller than what it was last year and given the pace at which it is exporting - he believes the Russians will deplete their exportable wheat stocks that have flooded the marketplace sometime between January and February during the coming year. Once that happens, he predicts that the world’s wheat demand will shift from Russia to the US, thereby increasing domestic wheat prices.
Currently, the price of wheat is settled in at around $5/bu. With increased global demand focused on the US, Anderson calculates a potential price increase of as much as 75 to 80 cents a bushel. His advice to farmers with wheat in the bin and a financial position that can afford the 50-cent risk that exists in the market, to wait things out until the first couple months of 2019 before selling their grain in order to capture some of that demand premium he is predicting.
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 week, Brian Arnall explains how nitrogen moves through wet soils and says it might be time for some producers to reapply.
- Dave Lalman shows us which round-bale feeders are less likely to waste hay.
- In Food Whys, Darren Scott explains the USDA’s Food Defect Action Levels and what that means for the food we eat.
- Then, Misha Manuchehri explains why this time of year can be critical for weed control. She also has information about the upcoming Weed Symptomology Clinic.
- In the Mesonet weather report, Wes Lee says the recent freezes in northwest Oklahoma were right on schedule. Gary McManus shows us where the drought is holding strong.
- In Vet Scripts, Dr. Barry Whitworth explains the science behind rabies.
- Finally, Roger Sahs has information concerning a recent survey about leasing agreements between landowners and renters.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
WebReadyTM Powered by WireReady® NSI
Top Agricultural News