Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211


Agricultural News

Anderson Says Prices May Have Bottomed Though Contract Wheat is a Buck Lower Than Projected

Thu, 02 May 2019 18:05:10 CDT

Anderson Says Prices May Have Bottomed Though Contract Wheat is a Buck Lower Than Projected Earlier this year, the general expectation was that the price of forward contracted wheat would have climbed up to $5.00/bu. by now. You look at the market this week, however, and see prices have instead fallen under $4.00/bu. In his weekly visit with SUNUP host Dave Deken this weekend, Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson attempts to account for the market’s recent lethargy.

From what he can surmise about the situation, Anderson believes the market is harboring several reservations about this year’s crop, with particular concerns regarding the crop’s quality in terms of protein levels and the persistent lack of export demand.

Current industry projections have suggested that Oklahoma’s crop will end up significantly higher than last year’s and above its average crop size. Last year, Oklahoma produced a mere 70 million bushels. This year, it is speculated Oklahoma will raise production by 75 percent up to 120 million bushels, 23 million bushels above Oklahoma’s average production. Nationally, the same is true with estimates pegging the US HRW wheat crop well above normal. The fact that there are strong, lingering concerns over protein levels, Anderson says, has certainly impacted prices.

Meanwhile, Russia and the Black Sea Area has yet to exhaust its exportable supplies with yet another massive crop in the pipeline. Couple that with a record short in managed funds and Anderson says there is no wonder prices remain anchored.

Ever the optimist, though, Anderson believes the market is either at or near a bottom, noting that the KC July contract managed to recently nose its way back up to the $5.00 range. Recalling some seemingly worse situations from past market slumps, Anderson predicts that the trade will eventually churn its way out of this downtrend and potentially even pick up another .50 or so along the way remarking that anything can happen when nothing about the outcome of either foreign nor domestic crops is certain.

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 Deken's weekly chat with Dr. Anderson- the SUNUP crew has a very full lineup for your viewing this weekend:

This week on SUNUP, we learn from Justin Talley about the importance of controlling external parasites on cattle.

- In Cow-Calf Corner, Glenn Selk says producers should pencil out the potential benefits of creep feeding calves.

- Dr. Barry Whitworth has information about checking the effectiveness of deworming practices.

- Brian Arnall explains how to read soil test results.

- Finally, in the Mesonet weather report, Wes Lee shows us how to use the Drift Advisor to help with deciding when to spray crops. Gary McManus says while most of the state has seen above normal rainfall, the panhandle is drying out.

Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV



You can watch their visit tomorrow or Sunday on SUNUP- but you can hear Kim's comments right now
right-click to download mp3


WebReadyTM Powered by WireReady® NSI


Top Agricultural News

  • Elizabeth Perkins Talks About Her Family's Results with Certified Angus Beef   Tue, 16 Jul 2019 17:31:53 CDT
  • Steer and Heifer Calves Were to Lightly Tested for an Accurate Trend Tuesday at OKC West Livestock Auction  Tue, 16 Jul 2019 17:10:43 CDT
  • Texas Rancher Kelley Sullivan Georgiades Calls on US House to Ratify USMCA for American Beef Producers  Tue, 16 Jul 2019 15:33:56 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Tuesday, July 16, 2019  Tue, 16 Jul 2019 15:22:15 CDT
  • Tuesday Market Wrap-Up with Justin Lewis  Tue, 16 Jul 2019 14:39:38 CDT
  • House Ag Subcommittee on Livestock Chairman Jim Costa Committed to Resolving Industry's Many Issues  Tue, 16 Jul 2019 14:23:31 CDT
  • House Ag Members Say Several Livestock Threats Being Addressed, But USMCA Approval Remains Vital  Tue, 16 Jul 2019 14:17:50 CDT
  • Tuesday Afternoon Market Wrap-Up with Carson Horn   Tue, 16 Jul 2019 14:14:50 CDT

  • More Headlines...


    Ron salutes our daily email sponsors!

    Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show AFR Insurance Stillwater Milling KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Search OklahomaFarmReport.com

    © 2008-2019 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.