Anderson Says Wheat Prices Need to Break Through Price CeilingThu, 15 Oct 2015 18:28:47 CDT
Commodity prices are showing little signs of direction. On this weekend's edition of SUNUP, Oklahoma State University Grain Marketing Specialist Kim Anderson said this last week the U.S. Department of Agriculture raised the nation’s corn production estimate, so corn prices have dropped. Soybean prices went up slightly, but he said they have mostly been wallering around. Wheat prices are ranging from $4.90 to $5.20. Anderson said the wheat market is still in a short run up trend. If wheat prices don’t break $5.20 within the next week, he said the market has shifted to a sideways pattern.
The lack of rainfall recently has become concerning for Oklahoma farmers planting wheat and canola. Anderson said the southern tier of Oklahoma is getting into severe drought. In moving north and west of I-35, he said conditions are abnormally dry. While conditions remain normal in the Panhandle. Anderson said these conditions aren’t a problem yet, but they could be if rain doesn’t arrive soon.
The warmer and drier conditions are helping the harvest of corn, sorghum and soybeans. Anderson said Oklahoma’s corn harvest is about 75 percent done, sorghum is about 50 percent complete and soybean harvest is about 35 to 40 percent complete.
This week on SUNUP, we’re in the field with Angela Post for a lesson on weed identification in Oklahoma crop fields.
-We look at what the Trans-Pacific Partnership means for Oklahoma with Larry Sanders.
-In the Mesonet report, Al Sutherland and Gary McManus analyze recent low rainfall totals, the current fire risk and the expanding drought picture.
-Then, Jason Warren updates viewers on the soil health aspect of an ongoing DASNR cattle grazing study.
-In Cow-Calf Corner, Glenn Selk explains dressing percentage and the impact it may have on a cow’s price at the sale barn.
-Kim Anderson explains what dry conditions mean for wheat planting, corn and soybeans, and has the latest on wheat prices. Damona Doye follows with a preview of the 2015 Rural Economic Outlook Conference, which is in Stillwater on October 30.
-Finally, we get in on 4-H National Youth Science Day, which features a hands-on project about driving while distracted.
Saturdays at 7:30 a.m. & Sundays at 6 a.m. on OETA-TV
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.
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