Agricultural News
Anderson Recaps US Grain Stocks Report, Wheat Market Outlook
Fri, 13 Feb 2015 06:33:44 CST
Oklahoma State University Grain Marketing Specialist Kim Anderson addresses the latest estimates out from the U.S.Department of Agriculture. In this weekend's edition of SUNUP, he addresses the U.S. Crop Production report released Tuesday. Anderson said the estimates were inline with what the trade was expecting. Click on the LISTENBAR below to listen to the full interview.
The U.S. wheat ending stocks were pegged at 692 million bushels. Anderson said that was increased by five million bushels, which was insignificant. The hard red winter wheat stocks were increased by 15 million bushels, which was semi-significant, but had no market impact. U.S. corn ending stocks were lowered by 50 million bushels from last month. Anderson said with nearly 1.9 billion bushels in ending stocks that was insignificant. Soybeans were lowered by 20 million bushels with not much impact on the market.
SUNUP host Lyndall Stout asked Anderson about the export markets. Anderson said all-wheat exports are inline with expectations at 24 percent less than last year. He said U.S. hard red winter wheat exports are running 37 percent lower than last year.
In watching wheat prices, Anderson said they continue to waller around and he thinks they are waiting for the crop to come out of dormancy to establish a more definitive trend. Around the world, wheat harvest in Pakistan and India gets underway in March. In watching the Kansas City Wheat July futures contract, he thinks a critical price point is $5.55. If the price breaks that level, it could go to $5.40 or even $5.35. Anderson said for the wheat price to go higher it will need to break $5.76 to start an upward trend.
This past week, Anderson traveled to Texas and found a wheat crop that has wintered well. The Wichita Falls area has received some good moisture and he said farmers are very optimistic about the crop. While this wheat crop has been semidry, Anderson believes it has some good prospects for the 2015 year.
The Kim ANderson interview segment is a featured part of SUNUP, seen on the weekends on OETA and produced by OSU Ag Communications. Besides the Anderson Q&A- here's some of the highlights of SUNUP for this week:
SUNUP talks to Eric DeVuyst about OSU's role in developing the farm bill decision tool. Then, Jody Campiche demonstrates how it works and reminds viewers about upcoming crop insurance and program deadlines.
-Next, Damona Doye highlights the latest Census of Agriculture and tells us how Oklahoma is changing.
-In the Mesonet report, Al Sutherland and Gary McManus look at the progress of first hollow stem, the percentage of normal rainfall and the latest drought monitor.
-In Cow-Calf Corner, Glenn Selk explains how to help a newborn calf breathe properly.
-Finally, Derrell Peel analyzes the improving U.S. and Oklahoma cattle inventory numbers.
SUNUP can be seen on OETA across the state of Oklahoma- Dr. Anderson's segment on the markets is one of the standard features of this weekly show from Oklahoma State University. Catch SUNUP online through the OSU website by clicking here or through YouTube by clicking here.
Catch SUNUP online through the OSU website by clicking here or through YouTube by clicking here.
Catch SUNUP: Saturdays at 7:30 a.m. & Sundays at 6 a.m. on OETA-TV
WebReadyTM Powered by WireReady® NSI
Top Agricultural News
More Headlines...
