OSU's Kim Anderson Talks About the Factors That Farmers Should Consider When Making DecisionsThu, 31 Oct 2019 18:11:51 CDT
In his weekly visit with SUNUP host Lyndall Stout this weekend, Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson talks about the factors that farmers should think of when they are making management decisions.
“What works for one farmer, probably won’t work for another,” Anderson said. “So, each farm is an individual unit.”
Anderson says some producers are all for keeping cost low and utilizing older equipment. While others are all in on the latest technology to ensure precision in their work. He says there are trade-offs to both.
“If you look at the world wheat market, production is projected to be 28.3 billion bushels,” Anderson said. “That is just a slight record over last year’s 28 billion bushels. We may or may not actually make that number.”
In Australia and Argentina, they continue to lower the wheat production, due to a dry year, he added. While in Russia, they are about 98% completed on harvest, but the exact size of their crop this year is still unknown. And France’s production continues to creep higher, he said.
“Exports have been going relatively well,” Anderson said. “If you look at U.S. wheat export sales, they are 11% above all wheat from last year. But, our outstanding sales, the wheat that is in storage that hasn’t been shipped yet, is 14% below last year. Hard red winter wheat sales are 43% above last year.”
He says soft red winter wheat sales are 17% above last year. However, all exports of wheat are below the five-year average, Anderson added.
“There is quite a bit going on in Russia, their exports are projected to be lower this year,” Anderson said. “But I’ve noticed some changes in the market and the pricing system in this last week.”
Anderson says Russia was underbid by Ukraine, France and Romania on sales to Egypt. So they didn’t get any sales into Egypt. And what the market is seeing, is Russian farmers building storage and storing their crop for longer.
This week on SUNUP, we take a look at how Oklahoma officials are preparing should African Swine Fever ever surface in the United States.
- Then, Derrell Peel talks about the economic impact African Swine Fever had in countries like China.
- In Cow-Calf Corner, Glenn Selk explains why it’s important to let bulls determine dominance before the breeding season.
- We learn how mid-October freezes impacted timing of cotton harvest from Seth Byrd.
- In the Mesonet weather report, Wes Lee shows us how October fared when it comes to rainfall. Gary McManus says drought is shrinking across parts of the state and cooler weather is helping.
- We learn how a Noble County producer is managing his margins amid low wheat prices.
- John Long explains how technology plays a growing role in crop production.
- Finally, Kim Anderson says producers should balance the price of technology with the efficiency of producing wheat on tight margins.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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