Kim Anderson Gives a Commodity Price Overview of the Current Marketplace- This Week on SUNUPTue, 20 Nov 2018 17:26:08 CST
Prior to the Thanksgiving holiday, Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson taped his weekly visit with SUNUP Host Dave Deeken to offer viewers and overview of the major commodities and their current status in the marketplace.
Starting with wheat, Anderson says the grain market has been in a short run down-trend, falling by a penny or so lower nearly every day. At present, Anderson reports that the March Kansas City contract is priced at under $5.00.
In corn, markets have stayed on a steady sideways, albeit somewhat of a down-trending pattern for several weeks now.
Soybean prices have given producers little reason to get excited this year. Anderson says the price of beans is “in the tank, along with the basis” moving in a sideways pattern as well. While one can point to the obvious China debacle as the anchor on these prices - Anderson also attributes record production as part of the cause behind this depressed market situation.
However, cotton comes as a source of good news for farmers this year, retaining a relatively stable price of 77 cents per pound, which Anderson says is a price farmers can be happy about.
Compared to year-ago prices, though, cotton is somewhat lower. In 2017, producers were commanding a strong 90 cents per pound for cotton. Soybeans were much higher - as much as $2 - $3.50 higher last year before the US declared economic war on the Chinese. Corn was only slightly higher than where it is now. Wheat, however, is comparatively more attractive this year than it was looking back at 2017 when prices were below $4.00 a bushel.
As for now, though, Anderson says wheat looks good - relative to the position of other commodities in the marketplace currently, which have almost all come down from their previously higher positions. In addition, Anderson says wheat has some of the best price potential, pointing out that producers can command a higher premium at market if they deliver a high-quality product.
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 start with wildlife food plot management advice from Dwayne Elmore.
- Then, Josh Lofton has an update on summer crop harvest and winter crop planting.
- Paul Beck explains how to estimate the number of cattle to stock on wheat pasture.
- In Cow-Calf Corner, Glenn Selk has advice for preventing grass tetany in cattle on wheat pasture.
- Derrell Peel says cattle markets have been “so far, so good” in 2018, but he admits he is not sure if that will last into 2019.
- In the Mesonet weather report, Wes Lee looks at some of the factors that cause the occasional missing weather data.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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