Grain Market Guru Dr. Kim Anderson Shares Both the Good and the Bad News for Wheat GrowersThu, 08 Dec 2016 18:09:38 CST
Oklahoma State University Extension Grains Market Analyst Dr. Kim Anderson talks wheat prices with SUNUP's Lyndall Stout this week- this time sharing both some good and bad news for producers.
Starting with the bad news, Dr. Anderson points out that collectively, world wheat supplies are some of the highest they've ever been with world totals coming in at 9.2 billion bushels.
This year, the US could see a threat to its trade channels as export markets will be flooded with excess grain stocks. The former Soviet block countries are projected this year to export approximately 2 billion bushels; 1.1 billion of that contributed by Russia alone, securing the nation's place as the current No. 1 exporter in wheat. The US is projected to export under that at 975 million bushels.
The good news is, India has suffered poor crops two years in a row now and are heavily ramping up their imports. In addition, although HRW exports were relatively low for the US last year, exports are actually up 91 percent. Plus, Dr. Anderson reports that over the last month, wheat prices have seen a bump of $0.34, which he finds very encouraging. His advice to producers though, remains stuck on the same message as it has for several weeks now.
"Raise a quality product," he says. "If you have a product quality that the millers want to buy, our prices will go up."
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 start with Tom Royer discussing Hessian flies in Oklahoma wheat.
- Then, Josh Lofton talks about the herbicides that work best in canola.
- In the Mesonet Weather Report, Al Sutherland and Gary McManus show us how dry Oklahoma is getting.
- Saleh Taghvaeian demonstrates irrigation research using water with high saline levels and shares information on the upcoming Irrigation Conference in Altus.
- Kim Anderson has good and bad news concerning wheat markets.
- Damona Doye tells us about the nomination process for the ODAFF Significant Women in Oklahoma Agriculture Awards.
- In Cow-Calf Corner, Glenn Selk has advice for selecting the right numbers of heifers to keep.
- Finally, we travel to Harper County to see how 4-Hers honor their hometown veterans.
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Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA-TV
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