Kim Anderson Says Two Years to Clear Wheat Stocks But Only One Year to Clear Feed Grain StocksThu, 14 Sep 2017 17:20:42 CDT
This week on SUNUP - Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson joins host Lyndall Stout again, talking commodity ending stocks and expectations on wheat harvest soon to begin across the Southern hemisphere. Stout begins this week's segment by first asking Anderson, what is meant by the markets when referring to a "washing grain." Something heard more frequently these days.
"It means we've got too much grain," Anderson replied bluntly.
He bulleted grain ending stocks being projected currently to illustrate his point.
According to Anderson, wheat ending stocks are projected at a record 9.7 billion bushels, above the five-year average of 8 billion bushels. For corn, ending stocks are under record levels but still well above the average of 7.6 billion bushels at 8 billion, currently. Soybeans have exceeded record levels at 3.6 billion bushels, above the average of 2.7 billion.
Focusing just on wheat, Anderson reports that approximately 85 to 90 percent of the planted area around the world has at this time been harvest. Regarding production, he says well over 90 percent has been harvested, with harvest across the whole Northern hemisphere essentially complete.
However, in the Southern hemisphere, harvest will soon begin in Australia, Argentina and South Africa. And to each their own set of problems. Australia's crop is suffering from drought related issues, likely to cost farmers there about 30 to 35 percent of their crop compared to the previous year. Argentina's crop is above average there, but in contrast to Australia, the South American country is reeling from too much moisture, with production expectations on the decline.
Anderson predicts it will take two years of a short crop to use these ending stocks up. For feed grain, perhaps only one bad year will correct the situation.
For more of Anderson's insights and advice for wheat producers storing grains still, you can watch their visit tomorrow or Sunday on SUNUP- or you can hear his 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, David Marburger has advice for wheat producers before the seed goes in the ground.
- Did you know there are actually six different classes of wheat? Brett Carver and Renee Albers-Nelson look at how they impact our diets.
- In Cow-Calf Corner, Glenn Selk explains the benefits of fence line weaning calves.
- In the Mesonet weather report, Al Sutherland shows us how much cooler some Mesonet sites have been compared to normal. Then, Gary McManus explains why drought is expanding across northern Oklahoma.
- Becky Carroll examines the state's pecan crop and has information about the upcoming Fall Pecan Field Day.
- Finally, we visit Cherokee County to see how big the small animal show is at the county fair.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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