OSU's Kim Anderson Calls Potential Freeze Damage to Southern Plains Wheat a Non Event in the MarketsThu, 24 Mar 2016 17:11:57 CDT
Sorry wheat farmers- this past weekend's freeze and potentially more cold weather that could hurt the southern plains hard red winter wheat crop has not mattered when it comes to wheat prices. OSU Grain Marketing Economist Dr. Kim Anderson says massive global supplies of wheat trump any harm that temps below thirty two degrees may have done- at least to this point.
Anderson tells SUNUP Hostess Lyndall Stout that "actually it has been a non event on the market, if you look at the Kansas City May contract prices, they are a dime lower than they were before the freeze. It is such a small area as you look at the potential world crop- any damage is essentially insignificant."
Anderson talks about where we are on the size he expects for the current year world crop- and the likely increase in global stocks which is keeping a lid on US and world wheat prices. He says if you are looking for a sizable rally in wheat prices that would get us back to a cost of production breakeven- that would probably take a market shock in the form of a drop of seven to eight percent in the global wheat production this year to spark a rally.
You can watch Kim and Lyndall this weekend on SUNUP- or you can get an early listen to Dr. Anderson's comments by clicking on the LISTEN BAR below.
Besides, Kim's wheat market analysis on SUNUP this weekend- here's the rundown on the OSU Ag Communications production that returns to OETA this weekend.
This week on SUNUP, Bob Hunger says stripe rust has become more prevalent in wheat and has advice for controlling it.
- In the Mesonet report, Al Sutherland shows us which Mesonet site had a 61mph wind gust and Gary McManus shows us where the drought is intensifying across the state.
- Josh Lofton explains how much freeze damage a canola crop can handle.
- In Cow-Calf Corner, Glenn Selk looks at why record keeping is important when twins are born.
- In Food Whys, Jim Brooks looks at the difference between "use by" and "sell by" dates.
- Derrell Peel says beef markets are preparing for grilling season.
- Finally, Dana Zook explains what it takes to raise poultry inside city limits and has information about the upcoming Northwest Oklahoma Backyard Poultry Conference in Enid.
Join Lyndall Stout and Dave Deken for SUNUP:
Saturdays at 7:30 a.m. & Sundays at 6 a.m. on OETA-TV
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