This Week on SUNUP OSU's Kim Anderson Talks About the Progress of Oklahoma Wheat Harvest and the June 2019 WASDEThu, 13 Jun 2019 17:49:54 CDT
On this weekend's episode of SUNUP, host Lyndall Stout is joined by Dr. Kim Anderson, Oklahoma State University Extension Grain Market Economist, to discuss the progess of Oklahoma's wheat harvest as well as the information in the latest World Agricultural Supply and Demand Estimates (WASDE) report released this week by U.S. Department of Agriculture (USDA).
The 2019 Oklahoma Wheat Harvest is going well down in southwest Oklahoma and it is creeping into the central parts of Oklahoma, Anderson said. The reports are showing that yields are above average, as expected and test weights are mostly above 60 pounds.
It is too early to tell what the state average protein content will be this year. However, the price is holding steady anywhere from $4.40/bu to $4.50/bu in most of the state. The base has dropped in some parts of the state, but risen in other parts, he added.
The WASDE had a little bit of everything in it. The U.S. crop for instance is sitting as expected with little price impact. The biggest surprise was the increase on the annual average price from $4.70/bu to $5.10/bu. In Oklahoma that would predict the Oklahoma average price to about $4.90/bu, Anderson said.
Corn was the biggest question when waiting for the June 2019 WASDE and whether they would change the yields and acreage planted. They did in fact lower the overall production of corn and increased the price of corn by $.15/bu.
The Black Sea Region is projected to have a significant yield increase of 410 million bushels. In Russia, last year’s yield was 2.65 billion and the projected yield this year is 2.8 billion. Ukraine is also looking at a record 1-billion-bushel production year this year, Anderson added.
“It is dry in some areas of Russia, so there is potential for lower production this year, but we better plan for more than last year,” Anderson said.
The question all producers want the answer to, is whether or not they should sell their wheat or not. Anderson says, over the last 11 years, 9 of those years you needed to have your crop sold by August 30th and 10 of those years you needed to have your crop sold by the end of September.
Sell about one third of you wheat at harvest and look to sell the rest in July and August, he added. Ultimately, the Black Sea Region will be the defining factor for the wheat prices this year. If they stay dry and hot, the prices will increase. However, that won’t be decided until after September 1.
This week on SUNUP, we return to western Oklahoma to learn how cotton planting is progressing, and Seth Byrd explains what producers should look for this year in the cotton patch.
- In the Mesonet weather report, Wes Lee says crops are starting to access some of the moisture from the recent rains. Gary McManus shows us how much rain the state has received since April 30. You will be amazed.
- Then, we talk with Josh Bushong about the agronomics of growing industrial hemp in Oklahoma.
- Kim Anderson says things have been pretty wet in Oklahoma, but it has been drier than usual in the Black Sea region and that could impact their wheat crop. He says we should be ready to possibly sell some wheat in September.
- In Cow-Calf Corner, Glenn Selk explains the benefits of fence-line weaning.
- Finally, Dwayne Elmore discusses how wildlife has been impacted by the recent flooding.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
Source: SUNUP OSU
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