This Week on SUNUP - Kim Anderson Says Market Prices Low and Planted Acre Projections ShiftingThu, 04 Apr 2019 19:18:23 CDT
Wheat prices this week are near a five year low with the May contract at $4.40 - just a $0.06 spread from the July contract at $4.46. According to Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson, while the futures market is down, the basis is relatively high. However, it is a wash when you consider how low the cash price for wheat is.
Anderson explains to SUNUP host Dave Deken this week that unless a glitch in the weather over the Black Sea Region causing crop losses there and sparks a rally in US wheat - these depressed prices could remain anchored for another three to four, maybe even five years.
This concerning outlook is reflected in planted acres here in Oklahoma, with total wheat acreage down. However, the crop’s condition compared to the last two years is significantly better at 69 percent good to excellent and just 4 percent poor to very poor condition.
Cotton, meanwhile, seems to be a bright spot in the market currently. With approximately 720,000 acres planted in the state, the market saw an increase in price of about $0.065 over the past three or four weeks.
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 their weekly chat with Dr. Anderson- the SUNUP crew has a very full lineup for your viewing this weekend:
This week on SUNUP we learn the facts about cattle and methane from Dave Lalman.
- In Cow-Calf Corner, Glenn Selk explains why it is important to track udder soundness in cows.
- Then, Kelly Seuhs has advice for controlling weevils in alfalfa.
- In the Mesonet weather report, Wes Lee shows us when the average last freezes occur across the state. Gary McManus says most of the state saw less than average rainfall in March, even though it seemed like it rained a lot.
- Brian Arnall puts on his orange lab coat and explains why gypsum is important to soil nutrition.
- Shannon Ferrell explains why agricultural producers should think of their operations as a business.
- Finally, in Food Whys, Darren Scott has a historical look at ice cream.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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