Kim Anderson Explains All You Need to Know About the Wheat Market- Plus SUNUP Program Details for This WeekFri, 21 May 2010 6:53:08 CDT
Harvest draws closer- and with it, the reality that wheat prices are far less than they were in May of 2009. Cash prices were at or slightly above seven dollars per bushel at elevators across Oklahoma in the days leading up to Memorial Day last year. This year they are mostly at $4 or less per bushel.
Dr. Kim Anderson, extension grain market economist at Oklahoma State University, says that he sees little opportunity for improvement- pointing out that recent days have seen erosion in wheat prices of ten to twenty five cents per bushel. He believes that most wheat prices that farmers will be receiving for wheat they sell at harvest will have a three in front of them.
Dr. Anderson says the biggest worry is that steep discounts have been circulated by subterminals as we approach harvest. There will be discounts for foreign material in your wheat- and these rains to this point, followed by sunny hot weather could trigger a late flush of weeds to have to work through as the combines roll in a few weeks. An even bigger discount could come if test weights fall on wheat delivered to the elevator. For wheat coming in with a test weight under 58 pounds per bushel, discounts will kick in. Dr. Anderson says that, for example, if you have a 56 pound test weight, that could result in a fifteen to sixteen cent per bushel discount.
Dr. Anderson offers these comments in his regular slot on the OSU Ag Communications program SUNUP that will be seen this weekend on OETA. You can get an early preview of his thoughts by clicking on the Listen Bar below.
Besides Dr. Anderson and his look at the wheat market- Clinton Griffiths of SUNUP gives us this lineup of features on this week's show:
SUNUP heads to Kingfisher County to survey the damage from recent severe weather.
The next stop is the Lahoma Field Day for discussions about weeds in wheat, soybean planting and canola harvest.
In Cow-Calf Corner Glenn Selk discusses the financial benefits of shortening your breeding season.
In Shop Stop we’re showing viewers how to sharpen lawnmower blades.
AGWEATHER looks at what the severe weather is doing to crop conditions.
And we end with a story about OALP Class XIV member Carol Cowan being named America’s Farmers Mom of the Year.
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