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 Current Rise in Wheat Prices and What the Future Looks Like

Thu, 17 Oct 2019 22:53:51 CDT

OSU's Kim Anderson Talks about the Current Rise in Wheat Prices and What the Future Looks Like


In his weekly visit with SUNUP host Dave Deken this weekend, Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson talks about the wheat prices now and in the future.    


“There is a possibility that we are going to get higher prices,” Anderson said. “Last week it popped through that $4.10/bu resistance, and went up and took out $4.20/bu.”   


Anderson says he thinks that $4.20/bu mark was a critical point to get to. He says the market held above that mark this week. He thinks the market may be able to get up to $4.30/bu to $4.40/bu. However, if the market goes back down below $4.20/bu, the $4.00/bu low could be challenged.    


“The news right now, is mostly in spring wheat production in the Northern U.S. and Canada,” he said. “The excess rains along with freezes and snows, is reducing the quantity and quality of those products. That is going to reduce the protein around the world.”   


He says there is still uncertainty when it comes to Russian production. That is just a waiting game, he added. In Australia, they continue to be dry and continues to lose production. There is also speculation that Argentina will have lower production this year, he added.    


“Right now, the market is just waiting to see what is going to happen,” Anderson said. “Mostly in the southern hemisphere I think Northern U.S. and Canada and then Russia, the market has a relatively good handle on what’s going on there. However, there could be some surprises there, as there has been in the last several years with Russian production.”   


He says prices typically go up as you head into the December and January time periods. And he thinks that could happen this year. In the forward contracts, you can contract for $4.15 to $4.20/bu, he thinks the market is pricing relatively low protein content.    


To see what else SUNUP has in store for this week’s show, click here.



   



   

Listen to Kim's full remarks on SUNUP this weekend, or hear them now by clicking the listen bar below
right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Atop the RON Rural Soapbox - Former Secretary John Block  Fri, 21 Feb 2020 06:07:37 CST
  • Feeder Steer, Heifers and Heifer Calves Higher, Steer Calves Not Well Tested at Woodward Livestock on Thursday  Fri, 21 Feb 2020 05:46:49 CST
  • Bonaza! OALP Class Members Meet Real Life Cartwrights on Their Ponderosa in Central Chile  Fri, 21 Feb 2020 03:07:30 CST
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Thursday, February 20, 2020  Thu, 20 Feb 2020 15:05:03 CST
  • Kelsey Pfeiffer Named Top Agriculturist Under 40 By Sirloin Club   Thu, 20 Feb 2020 14:42:20 CST
  • Colin Woodall on Fake Meat Claims   Thu, 20 Feb 2020 14:33:27 CST
  • Thursday, February 20, 2020 Market Wrap-Up with Justin Lewis  Thu, 20 Feb 2020 14:32:40 CST
  • OSU's Kim Anderson Talks with SUNUP about Variables that could Affect Wheat Prices   Thu, 20 Feb 2020 13:02:01 CST

  • 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!

    Banc First OPSRC ORWA TPAOO TPAOO

    Search OklahomaFarmReport.com


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

    WebReady powered by WireReady® Inc.