Kim Anderson Summarizes Latest WASDE Report and How It May Impact Prices in the Grain MarketThu, 12 Oct 2017 17:34:27 CDT
This week on SUNUP - Oklahoma Grain Market Economist Dr. Kim Anderson joins host Lyndall Stout again, this time talking about the latest World Agriculture Supply and Demand Estimates report, released on Thursday by the US Department of Agriculture.
According to Anderson, the grain market was more or less “in the tank” before the report was made public. After its release, he says the only place for markets to go up, is in soybeans.
Breaking down the report - US wheat ending stocks were expected by the market to come in at around 946 million bushels. They arrived officially higher than anticipated at 960 million. World ending stocks were expected at 9 billion 660 million bushels. The report instead pegged it at a record 9 billion 850 million.
In corn, US ending stocks were expected at 2 billion 290 million bushels, and were instead measured slightly higher at 2.34 billion. World ending stocks were near their expected level of 7.95 billion, coming in just below at 7.91 billion bushels.
The only good news in the report came from soybeans, Anderson said. The market overshot its expectation for US ending stocks at 477 million bushels, with the report putting them at 430 million. World ending stocks came in essentially as expected at 3.54 million.
In reaction, Anderson predicts soybeans will likely climb incrementally higher, while little hope is seen for the improvement for either wheat or corn prices.
You can watch their visit tomorrow or Sunday on SUNUP - or 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 talk with Tom Royer about the importance of managing fall now.
- In the Mesonet weather report, Al Sutherland says there was a 54F temperature shift as the cold front moved through this week. Then, Gary McManus shows how an eight-inch rain can change the drought picture.
- Brian Arnall explains why phosphorus is the power house of the plant.
- In Cow-Calf Corner, Glenn Selk looks at research to help producers decide whether to cull older cows.
- Then, we learn why an Oklahoma State University football standout chose agribusiness for his degree.
- In Naturally Speaking, Dwayne Elmore answers the question: does culling smaller antlered deer help larger antlered deer flourish?
- Finally, we head to PBar Farms near Hydro, to learn about their transition from traditional agriculture to agritourism.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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