OSU's Kim Anderson Shares His Thoughts on the 2019 Oklahoma Wheat Crop and PricesWed, 03 Jul 2019 16:23:45 CDT
In his weekly visit with SUNUP host Lyndall Stout this weekend, Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson addressed the outcome of this year’s wheat harvest as we are within 10 percent of being complete.
Anderson says, the overall wheat crop for Oklahoma was relatively acceptable. With test weights averaging right around 59 pounds and protein content is around 11.5 percent. While the protein content is a little lower than most would like, so far, the reports are that it is a good milling quality protein.
For the U.S. the wheat condition report came out higher than expected which had some impact on the market last week. The wheat production for the U.S. is slightly higher this year right at 1.9 billion bushels. The world production is still expected to a record this year. However, only 25 percent of the world crop has been harvested so far.
With the reported 91 million acres of corn planted the market is skeptical as to whether producers will be feeding as much wheat this year. In the Black Sea Region, Ukraine has 15 percent of their crop harvested and they are looking at a record crop this year at 1.1 billion. The Russian crop is expected to come in higher than last year but lower than two years ago. Together Russia and Ukraine are expected to have around a 4 billion bushel crop this year.
Romania has also started exporting wheat to Egypt. When Anderson looked into the records, he could not find any record of Romania exporting wheat before. In the world the crop is expected to be big, which has had a big impact on prices so far. On a positive note, prices could go up if the weather stays the same in Russia, they may lose some of their crop. Anderson suggests that you stager the selling of your wheat throughout the next three months since the potential of a price increase is there.
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 on SUNUP, in honor of wheat harvest wrapping up across Oklahoma, we are looking back at some of our favorite harvest videos.
- We will also visit an eastern Oklahoma wheat producer who is harvesting what he can of a wheat crop on the banks of the recently flooded Arkansas River.
- In Cow-Calf Corner, Glenn Selk has advice for maintaining weight gain while forage quality drops throughout the summer.
- Kim Anderson says the 2019 Oklahoma wheat crop is looking better than expected and now we will see if prices follow.
- Finally, we head to Cimarron County to ride along with a producer who is celebrating the 79th wheat harvest on his family farm.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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