Wheat Market Rallies this Week Lifting Farmers Hopes for a Viable Price Next Harvest Come JuneThu, 05 Jan 2017 16:40:19 CST
This week on SUNUP, Lyndall Stout is joined once again by Oklahoma State University Grain Market Specialist Dr. Kim Anderson. During this segment, they dive right into wheat prices which according to Anderson, have experienced a bump since Christmas of about 25 to 30 cents.
"We got a nickel increase in the basis this week," Anderson said. "That's good, it shows demand is still strong."
This rally in the markets have caused prices in Oklahoma to bounce from the $2.60 to $2.80 range we saw in late fall, early winter and go up to $3.20 to $3.40.
The question remains though - what will prices do between now and the next harvest, and what will be the determining factors? With the bin-busting 2016-2017 world wheat harvest for the most part sewn up, it is safe to say the world has enough wheat. Anderson says what the world needs now, is quality.
"Texas and Oklahoma's hard red winter wheat crop will be the next world wheat crop to be harvested for export and so the world is going to be watching our conditions," he said.
In a report released this week, Anderson said conditions have fallen below that of the previous year. A good thing, he says, in terms of prices. Looking into the long term, he predicts that will a good quality wheat crop, Oklahomans could expect to see wheat sell for $4.25 in June.
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 Brian Arnall discussing the best time to topdress winter crops.
- Then, Josh Lofton has an update on the canola crop and information about the upcoming Canola College.
- In Cow-Calf Corner, Glenn Selk explains a way to ensure calves are born in the daylight hours.
- Kim Anderson says the world is starting to watch the U.S. wheat crop for quality.
- Randy Boman has a reminder about the upcoming Red River Crops Conference.
- In the Mesonet Weather Report, Al Sutherland and Gary McManus compare 2016 temperatures and moisture to other years.
- We revisit Eric Rebek's segment about wasps and bees.
- Finally in Naturally Speaking, John Weir has advice for preventing damage to homes during wildfire season.
Join us for SUNUP:
Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA-TV
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