This Week on SUNUP - Kim Anderson Analyzes How Russia is Impacting the Price of U.S. WheatThu, 27 Jul 2017 18:36:23 CDT
This week on SUNUP - Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson joins host Lyndall Stout, reporting on a recent rally in the markets that have since evaporated.
According to Anderson, lower HRW production in the US triggered a rally in the price of wheat recently. But foreign production seems to have been higher than expected, coming in at about the same level as last year’s record harvest.
As a result, the market adjusted to reflect the larger crops of countries like Russia and Ukraine. Perhaps even overcorrecting a bit.
Anderson explains that prices tend to act like a pendulum. He says when the market gets bad news, it swings back, often too far. Eventually, though, it will swing back the other way.
He says there was an initial psychological impact caused by this dip in prices, but is hopeful the markets will turn more positive in the days and weeks to come.
In the meantime, though, Anderson says as we approach the months of August, September and October when the trends of our marketing year are typically set - more information on the foreign crops will come in which will help markets gain better footing. He predicts there will likely be a bit of volatility but with the potential to gain back some of the $0.80 losses seen in recent weeks. He is optimistic prices will not go much lower.
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 Dr. Anderson’s weekly chat - the SUNUP crew has a very full lineup for your viewing this weekend:
This week on SUNUP, we learn about research OkState entomologists to curb the spread of sugarcane aphids across the southern Great Plains.
- In the Mesonet weather report, Gary McManus says the timely rainfall crops need could be on the way.
- Even though producers planted a record amount of cotton across the state, Randy Boman explains why there could be tough times ahead for the Oklahoma crop.
- In Cow-Calf Corner, Glenn Selk says heat-stressed pregnant cattle have a hard time reaching full term.
- Derrell Peel explains some of the surprises in the latest USDA report.
- Finally, we look back at 20 years of the Robert M. Kerr Food & Agricultural Products Center and its impact on Oklahoma.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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