Outlook Dim as Wheat Prices Unlikely to Improve Unless Grain Starts MovingThu, 08 Sep 2016 17:59:50 CDT
Oklahoma State University Extension Grains Market Analyst Dr. Kim Anderson talks wheat prices with SUNUP's Lyndall Stout this week- and explains what factors are affecting wheat prices and what chances farmers have to make a profit in 2017. According to Dr. Anderson, the reason wheat prices remain so low and seem to continue dropping, is simply because we have too much wheat. The problem is compounded he says, by a large corn harvest coming down the pipeline. Anderson says it is becoming a major problem as grain elevators are reporting they no longer have any available space to store other grains coming in.
In order to get the grain moving to potentially help prices recover, Anderson says the price needs to come down low enough to make wheat an attractive commodity for use in livestock feed. He cites that the grain in storage currently, is best suited for feed use. On the other hand, the current crop that has come in, is particularly good for milling albeit low in protein. He says if some high-protein wheat could be acquired to blend with it, that wheat supply could potentially be pushed through the food supply. However, this will prove to be difficult as high-protein wheat is hard to find presently, and with a large corn crop on the way, it will be difficult to convince farmers to feed wheat rather than the corn. He says the best bet is to hope for a crop failure in a foreign production area, so our region could export the excess stores. Sadly, Anderson believes farmers will be unable to make a profit as long as prices stay this low and grain stores remain in excess.
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.
Beyond Lyndall's weekly chat with Dr. Anderson- the SUNUP crew has a very full lineup for your viewing this weekend:
This week on SUNUP, we travel to Idabel for the next stop in our county fair series: McCurtain County. Then, we talk about upcoming OQBN VAC-45 weaning dates with Gant Mourer.
- In the Mesonet weather report, Al Sutherland says the 100 degree temperatures have held off, but just barely. He also shares how the current soil moisture compares to normal levels.
- Extension veterinarian, Dr. Barry Whitworth, has advice on interacting with swine and poultry to prevent transmittable diseases.
- Also, Derrell Peel answers the question, "is beef demand weak?"
- In Cow-Calf Corner, Glenn Selk explains the benefits of waiting longer to wean calves.
- Next, Kim Anderson says there's up to 10 million bushels of wheat in storage across the state.
- Dwayne Elmore has advice on crops to attract doves
- Finally, we return to the McCurtain County Free Fair for a behind-the-scenes look at the Miss McCurtain County Pageant.
Join us for SUNUP:
Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA-TV
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