Kim Anderson Shares What the Latest WASDE Report Means for the Price of Wheat in OklahomaThu, 13 Dec 2018 16:58:55 CST
Earlier this week, the United States Department of Agriculture released its latest World Agriculture Supply & Demand Estimates Report (WASDE). Prior to the reportís release, Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson explains that US HRW exports were running near 36 percent below last yearís levels, while Russian wheat exports were running well-above. He says the market was expecting to see some adjustments to those Russian export numbers.
During the taping of his next appearance on SUNUP this week, Anderson told Host Dave Deeken, that for the most part, the marketís expectations for this report were met - though Russiaís exports were raised by 55 million bushels. To do that, Anderson says the USDA raised Russiaís beginning stocks about 37 percent and lowered their ending stock by about 19 million bushels. In addition, US exports were increased some, bringing that 36 percent deficit down to 31 percent, below last year.
This translates into both good and bad news for US producers. The bad news, Anderson says, is that HRW exports for the US are going to be lower than they were earlier projected. But, the good news is that Russia will soon run out of exportable wheat, forcing Russia out of the 2019-20 marketing year.
With the global market using more wheat than what was produced this year, Anderson says their will be significant demand for high-quality wheat come June 1st. If US producers can deliver on that, Anderson says we will be able to command a favorable price.
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 Deekenís weekly chat with Dr. Anderson- the SUNUP crew has a very full lineup for your viewing this weekend:
This week, we learn how cattle and horses handle cold weather from Dave Lalman and Kris Hiney.
- Misha Manuchehri explains why mixing order plays a role in the effectiveness of pesticides.
- In the Mesonet weather report, Wes Lee looks at the impact tropical rains had on the state over the past week. Gary McManus shows us the changes in the drought over the past six months.
- In Cow-Calf Corner, Glenn Selk explains how feeding cattle later in the day can help ensure calves will be born during the daylight.
- Finally, Brian Arnall puts on his orange lab coat to explain the complete nitrogen cycle.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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