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

OSU's Kim Anderson Explains the China Deal Last Week That is Plaguing all Agriculture Commodity Markets

Fri, 09 Aug 2019 14:14:37 CDT

OSU's Kim Anderson Explains the China Deal Last Week That is Plaguing all Agriculture Commodity Markets

On this week’s episode of SUNUP, host Dave Deken and Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson discuss the China deal last week that is plaguing all agriculture commodity markets.    

“I don’t think much has changed over the last week,” Anderson said. “If you look at wheat, on average China imports about 127 million bushels of wheat a year. Which is just a little bit more than Oklahoma’s wheat crop. Of that 127 million only 38 million come from the United States. Which is about 30% of China’s imports. On the 2018-2019 marketing year for wheat, zero wheat was imported by China from the United States.”    

Anderson says, China only imports 144 million bushels of corn, with 23 million bushels of that being U.S. corn. However, China imports 3.2 billion bushels of soybeans each year, with 1.1 billion of those bushels coming from the U.S. Last year China only imported 528 million bushels of U.S. soybeans. They also import about 5.9 million bales of cotton each year, of that 1.8 million bales come from the U.S., he added.    

There are other countries interested in these commodities. With China buying essentially all of their soybeans from Brazil, that opens up other countries to the U.S. Anderson alluded to the fact that the China deal has affected U.S. wheat and corn prices, but it has had a greater impact on soybean and cotton prices. The U.S. is picking up other markets, however they are not enough to make up the loss of the Chinese market, he added.     

“Our wheat here in Oklahoma averaged 11.3% protein, that means a lot of this crop needs to go into the feed market,” he said. “We either need to export it as feed, or we need to feed it into our feed mills, or our livestock feedlots.”    

This year, the farther the harvest went for hard red winter wheat, the lower the protein content got. Overall, the average protein content of wheat decreased. Anderson says, often times Oklahoma will import protein wheat from Kansas to blend together then move into the market. However, Anderson is skeptical this will be possible this year.

This week on SUNUP we learn how the West Nile Virus can impact equine from Kris Hiney and Barry Whitworth DVM.

- Then, Justin Talley explains how insects can transfer viruses between animals.

- In the Mesonet weather report, Wes Lee says August 5 is typically the hottest day of the year but he shows us how 2019 has been anything but typical. Gary McManus shows us where drought is intensifying across the state and where the Climate Prediction Center is optimistic for rain next week.

- Kim Anderson says if China doesn’t buy U.S. commodities, someone around the world will. He also says it might be time for some producers to look at returning wheat acres to pasture land.

- In Cow-Calf Corner, Glenn Selk explains the importance of ensuring vaccines are stored at the correct temperatures.

- In Naturally Speaking, Marley Beem tells us why fish kills happen and what landowners can do to prevent them as we move into fall.

- Finally, we see how a community is teaming up with OSU Extension to show how their food is grown.

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



right-click to download mp3


WebReadyTM Powered by WireReady® NSI


Top Agricultural News

  • Plains Grains Calls Texas and Oklahoma Wheat Harvest Done at 99% Complete- Kansas Now at 70%  Wed, 01 Jul 2020 20:51:56 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Wednesday, July 1  Wed, 01 Jul 2020 16:11:54 CDT
  • USCA, NFU, and Others Request Hearing on Livestock Reporting Rule  Wed, 01 Jul 2020 15:55:49 CDT
  • United We Steak” Encourages Oklahomans To Grab Their Favorite Beef Cut and Fire Up The Grill  Wed, 01 Jul 2020 15:53:00 CDT
  • NCBA Celebrates Implementation of USMCA Trade Deal  Wed, 01 Jul 2020 15:49:49 CDT
  • USDA Reports Oklahoma Has Over 9.5 Million Acres of Cropland in 2020  Wed, 01 Jul 2020 14:54:57 CDT
  • Wednesday, July 1, 2020 Market Wrap-Up with Justin Lewis  Wed, 01 Jul 2020 14:28:05 CDT
  • Secretary Perdue: President Trump Delivers USMCA, a Huge Win for U.S. Agriculture  Wed, 01 Jul 2020 13:39:06 CDT

  • More Headlines...


    Ron salutes our daily email sponsors!

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

    Our Road to Rural Prosperity sponsors!


    Search OklahomaFarmReport.com

    © 2008-2020 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.