Anderson Says the Projected Wheat Totals for the Year are Up Significantly Compared to Last YearThu, 09 May 2019 18:54:09 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 future of the wheat export markets.
Anderson is hopeful that with Russia selling feed wheat to the Phillipines that they are getting to close to emptying their bins ahead of their wheat harvest later this summer.
Dr. Anderson, a touched on the exports from the US so far this year. Trades may have started out slow but they have picked up steam. To this point they are up 9%, while they are projected to end up 5% higher than last year. US HRW wheat is even with last years exports, even though they were projected to be down 10%. US SRW wheat was projected to be up 43% after last years issues and we are currently up 34%. Overall, the wheat sales and exports are on track for the marketing year.
Wheat projections for this year are at record highs, the world production projection is 28.1 billion bushels which is 5% above last years and would be a new record in production. For the US the projection is just under 2 billion bushels up about 4%. And Oklahoma projections are 119 million bushels up 70% from last year. Overall, there will be ample wheat for this years market.
Here in Oklahoma ast year forward contracted wheat was $5.05/bu, this year they are down to $3.85/bu.
You can watch their visit tomorrow or Sunday on SUNUP- but you can hear Kim's comments right now by clicking on the LISTEN BAR below.
This week on SUNUP we join you from a wheat field tour stop in Dewey County. Josh Lofton starts with an update on summer crop planting.
- Kim Anderson says the U.S. was undercut on a recent feed wheat purchase by Russia to the Philippines.
- Alex Rocateli has options of Old World Bluestem varieties when planting pastures.
- In the Mesonet weather report, Wes Lee shows us where the recent rains have fully saturated the soil profile and what part of the state is drying out. Gary McManus says even though we are approaching record rain amounts across the state, Oklahoma’s wettest time of the year is just beginning.
- Josh Bushong has an update on the wheat crop across western Oklahoma.
- In Cow-Calf Corner, Glenn Selk says producers should review their calving records to plan for next season.
- Finally, Derrell Peel says boxed beef prices are moving as summer grilling holidays approach.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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