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

advertisements
   
    
   
   
   
   
   
   
   
   
   

Agricultural News


OSU's Kim Anderson Talks About the Further Decrease in Wheat Prices and What is Causing it

Thu, 05 Sep 2019 17:41:42 CDT

OSU's Kim Anderson Talks About the Further Decrease in Wheat Prices and What is Causing it


In his weekly visit with SUNUP host Lyndall Stout this weekend, Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson addressed the further decrease in wheat prices over the past week.   


“Last week I was looking at the December contracts, and it was on a sideways trend at $.10/bu to $.12/bu up and down range with support at $4.00/bu.” Anderson said. “It popped that $4.00/bu resistance point. I also said last week that I was concerned about the basis falling off, but the basis actually increased a nickel.”   


Anderson says he missed the mark on the market last week, with the cash price of wheat falling $.13/bu. However, he says it bounced back by the end of the week.   “The big thing is probably corn, people have been watching what is going on with the corn production,” he said. “But something we haven’t been paying much attention to or talking about is the value of the U.S. dollar.”   


Anderson says if you go back to June and July, the U.S. dollar index was around 95.2 and last week it got above 99. That was a 4% increase at the Texas Gulf. He says that us about $.20/bu decrease in wheat prices, because of the value of the dollar.    


“If you back to the August WASDE, the market prior to the release had corn production at 3.2 billion, and the USDA came in at 3.9 billion bushels and everybody went ballistic,” Anderson said. “Well Allendale came out this week with a new projection for corn production at just under 3.8 billion bushels. And you go back to August to now, the market has been trading that USDA number, and it looks like with the weather going the way it is, that number is going to be relatively close.”    


This week on SUNUP, we join you from the Tulsa County fair and start with an update on African Swine Flu with Dr. Barry Whitworth.


- Then, in the Mesonet weather report, Wes Lee explains why it has been so humid this year. Gary McManus says the recent rain has helped lessen drought and September could be wetter than average.


- Kim Anderson says producers should expect five dollar wheat at harvest, and they will need higher protein to get it.


- Brian Arnall explains a work-around for producers expecting to fertilize using DAP during a MAP shortage.


- J.D. Carlson has information about upcoming OK-Fire classes.


- In Cow-Calf Corner, Glenn Selk has factors to consider to help with culling decisions.


- In Food Whys, Darren Scott explains the history of canning and why it has become safer over time.


- Finally, we learn why the Tulsa County Fair is imortant to the citizens of the county and how it differs from the Tulsa State Fair.


Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
YouTube.com/SUNUPtv
SUNUP.okstate.edu


   



   

right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • OSU's Kim Anderson says South American Countries are Competing in the Export Markets  Thu, 14 Nov 2019 18:20:18 CST
  • Rouzer, Conaway: Invasive Species Put American Agriculture at Risk  Thu, 14 Nov 2019 17:37:52 CST
  • Brazil’s Implementation of Tariff Rate Quota for Wheat a Win for American Farmers  Thu, 14 Nov 2019 17:33:09 CST
  • USDA Extending Flexibility on Crop Insurance Premiums  Thu, 14 Nov 2019 17:29:33 CST
  • Thursday November 14, 2019 Market Wrapup with Justin Lewis  Thu, 14 Nov 2019 18:28:43
  • Clay Mathis with King Ranch Institute for Ranch Management Explains How to Find Profitability in Today's Cow Calf Operatons  Thu, 14 Nov 2019 16:54:20
  • China Lifts Poultry Ban on Imports from the US  Thu, 14 Nov 2019 16:58:40
  • Thursday Preopening Market Update with Dave Lanning  Thu, 14 Nov 2019 07:24:48 CST

  • 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

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA TPAOO TPAOO

    Search OklahomaFarmReport.com


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

    WebReady powered by WireReady® Inc.