The USDA WASDE Came out Last Week and OSU's Kim Anderson Commented on the Current Oklahoma and National MarketsThu, 16 May 2019 18:12:05 CDT
On this week’s episode of SUNUP, host Kurtis Hair this weekend, Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson talks about the current and future prices of wheat.
The USDA World Agricultural Supply & Demand Estimates Report (WASDE) came out last Friday, and it has some important information for wheat producers. It projects record world wheat projection and record world wheat ending stocks. The projection for the 2019-2020 wheat marketing year is $4.70/bu compare that to the 2018-2019 marketing year price of $5.20/bu and $4.71/bu in 2017. Anderson said, in 2017 the U.S. averaged $4.71/bu while Oklahoma only averaged right around $4.00/bu. The lack in price in Oklahoma was due to quality, which Anderson thinks points out the importance of quality.
In the Black Sea Region the USDA has predicted that Russia will produce 2.8 billion bushels of wheat. Russia themselves have predicted production to be 2.9-3.0 billion bushels. The stocks are tight but it looks like they will have a good crop this year.
In Oklahoma this week the market prices were up .21/bu. However, Anderson fears it may be a “dead cat bounce” after the rise in prices slowed the later part of the week. Overall, Oklahoma wheat growers should expect low prices this year, unless the crop in the Black Sea Region is lost.
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.
This week, join the SUNUP team from the annual wheat field day in Lahoma. Bob Hunger starts off the tour with information about wheat disease.
-Then, Misha Manuchehri tells us why the presence of weeds in your wheat field might not be a bad thing.
-In Cow-Calf Corner, Glenn Selk says with the abundance of standing water, insect pressure on cattle will be high.
-Wes Lee tells us that high humidity levels lead to increased odds of plant disease, but explains three Mesonet tools producers can use to monitor these issues.
-Back at Lahoma, Brett Carver gives us an update on how Oklahoma State University wheat varieties have performed this year.
-In Food Whys, Darren Scott breaks down who actually needs to worry about gluten.
-There’s been some excitement in the grain markets this week, Kim Anderson tells us why.
-Finally, Amy Hagerman talks about how dual-use crop insurance can be a great option for producers.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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