Agricultural News
OSU Ag Economist Kim Anderson Says Market Bottom Intact After Being Tested Following November WASDE Report
Fri, 13 Nov 2015 05:23:37
In the upcoming weekend edition of SUNUP, as produced by the OSU Ag Communications Department, Oklahoma State University Extension Economist Dr. Kim Anderson says there is a silver lining in the black cloud that was the latest USDA World Supply and Demand Report released earlier this week. Anderson says the report was bearish, in that it showed higher stocks for wheat, corn and soybeans- and that prices responded in all three commodities by dropped after the report was released on Tuesday.
However, Dr. Anderson says the good news after that price drop was recorded is that long term support levels for wheat, corn and soybeans held. Wheat did not drop below the $4.60 support level- basis December- corn also held at support of $3.60 and Soybeans at support of $8.60. The takeaway from support holding at these levels is that the report of larger than expected stocks did not break through the current market bottom- and Anderson concludes that "it will now take something spectacular to push prices lower."
Anderson also told SUNUP host Dave Deken that in talking with elevator managers around the state- he believes that planted acres of winter wheat are about the same as a year ago- while winter canola acres are probably about fifty percent less than what was planted in 2014 for the 2015 harvest.
You can watch Deken and Anderson this weekend on the SUNUP program to be broadcast on OETA- or you can listen now to their comments by clicking on the LISTEN BAR below.
In addition to the Kim Anderson market outlook segment- here's a rundown of what else you can see on this weekend's program:
Jeff Edwards has advice for Oklahoma wheat producers leading into the winter months.
In the Mesonet report, Al Sutherland and Gary McManus look at the lack of soil moisture in northwestern Oklahoma and the changing drought picture.
In Cow-Calf Corner, Glenn Selk answers the question: how much hay do I need to feed cattle over the winter?
Then, Jason Warren demonstrates how to prevent soil compaction in new no-till fields.
John Weir shows how to safely operate a drip torch when conducting prescribed burns, in Naturally Speaking.
We get perspective from speakers at the recent Rural Economic Outlook Conference held on campus.
Finally, in Shop Stop, Wayne Kiner and Randy Taylor show us how to safely prevent broken electrical equipment from being used.
Join the OSU crew for SUNUP Saturdays at 7:30 a.m. & Sundays at 6 a.m. on OETA-TV
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