Agricultural News
Kim Anderson Says Even Though Wheat Prices Continue to Slide, Elevators Want Oklahoma Wheat
Thu, 07 Mar 2019 15:22:11 CST
Once again this week, the price of wheat continues to decline following a recent downtrend in the market. Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson confesses his uncertainty in just how low prices will fall until they hit their bottom and hopefully bounce back up. This weekend on SUNUP, Anderson will explain how short funds and a lack of export demand has persisted in weighing the market down.
Ahead of this week's SUNUP appearance, Anderson reported that producers can forward contract their wheat currently for approximately $4.32 a bushel, compared to last year at this time when producers could get $5.05 a bushel.
Anderson believes there is mounting demand for wheat as harvest grows nearer, domestically. He believes elevators are looking to buy. But, in the futures market, the ongoing activity and domination of the global marketplace by the Black Sea Region has caused hesitation among traders. Anderson believes the market will wait for US export demand to pick before it makes any moves to buy contracts.
Given this uncertain outlook, Anderson says farmers must take a hard look at their allocation of land, labor and capital. However, he asserts what producers can not afford to do is to use the low prices as an excuse not to grow a quality crop. He warns that if producers fail to deliver on test weight and high protein, they could stand to lose another 50 cents to a dollar.
You can watch Anderson's visit tomorrow or Sunday on SUNUP- but you can hear Kim's comments right now by clicking on the LISTEN BAR below.
Beyond their weekly chat with Dr. Anderson- the SUNUP crew has a very full lineup for your viewing this weekend:
This week on SUNUP, we start with information on first hollow stem from Heath Sanders.
- Then, Bob Hunger shows us how to scout for rusts on wheat. He also explains how rusts can impact the growth and productivity of the plant.
- In Cow-Calf Corner, Glenn Selk explains how a cow's body condition between calving and rebreeding can impact the likelihood of a successful pregnancy.
- Dr. Barry Whitworth has information about how weather can impact mortality rates in lambs.
- Larry Sanders explains how recent news in U.S. trade negotiations could impact the agricultural industry.
- In the Mesonet weather report, Wes Lee shows us how to use the Mesonet app as a guide to start scouting for first hollow stem. Gary McManus says although it seems like it has been cold, we're actually pretty close to the overall average.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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