Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211


Agricultural News

Foreign Wheat Crop Expectations Slipping - Kim Anderson Betting this Sustains $5.00 Wheat in Okla.

Thu, 14 Jun 2018 16:24:49 CDT

Foreign Wheat Crop Expectations Slipping - Kim Anderson Betting this Sustains $5.00 Wheat in Okla. Combines are continuing to roll across Oklahoma as harvest in the state reaches the downhill slide. Meanwhile, the price of wheat has managed to stay well above $5.00 a bushel. This week on SUNUP - OSU Extension Grain Market Economist Dr. Kim Anderson joins host Lyndall Stout again, to discuss what he sees going on in the markets that have sustained this price level and what advice he has for farmers looking to take advantage of it.

According to Anderson, this past week ushered in a 50 cent increase to the basis. However, farmers also saw about 30 cents knocked off the futures price with about 20 cents of that recovered by the end of the week. Currently, Anderson reports that the Kansas City July contract has support at $5.20 which was tested in recent days, but seems to be holding there on the hopes of farmers. Soon, though, the market will roll over to the September contract where support rests at $5.36 - notice the 17 cent carry over there.

So, what is causing the market to remain so buoyant? Anderson rationalizes that the reason why is part and parcel with lowered expectations for many of the major foreign crops in Europe and Australia due to withering dry conditions much like what farmers have experienced here in Oklahoma this season.

As for a protein premium this year, Anderson says farmers can expect to see 20 to 30 cents folded in with the current basis - however, traders he’s spoken to do not believe these prices will last very long as good protein wheat has been steadily coming in. But, Anderson says if Russia and Australia’s crops turn out to be a bust this year, farmers are likely to enjoy relatively higher prices with or without a protein premium.

His advice to farmers is to take advantage of such a generous offering and suggests at minimum securing a basis contract.

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:

We start the show with a look at potential wheat varieties with Brett Carver at last month’s Lahoma field day.

- Then, we learn from Jeff Wright about the importance of a clean combine when harvesting certified seed.

- In Cow-Calf Corner, Glenn Selk explains the importance of pregnancy checking replacement heifers.

- Todd Baughman says phenoxy based herbicides can damage unintended plants, but you may be able to save them.

- In Vet Scripts, Dr. Barry Whitworth has ways to prevent exposure of horses to the Equine Herpes virus.

- In the Mesonet Weather Report, we welcome Wes Lee as incoming agricultural coordinator at the Oklahoma Mesonet. He and Al Sutherland will be rotating appearances on SUNUP until Al retires in August. Gary McManus says exceptional drought is shrinking across western Oklahoma, but the potential for drought is growing in the east.

- Finally, we head to Tulsa County to see how middle school students are learning about the impact of fire to our ecology.



You can watch their visit tomorrow or Sunday on SUNUP- but you can hear Kim's comments right now
right-click to download mp3


WebReadyTM Powered by WireReady® NSI


Top Agricultural News

  • Wednesday Preopening Market Update with Dave Lanning  Wed, 22 May 2019 07:14:04 CDT
  • ICYMI: Slaughter Cows Mostly Steady to 2.00 Higher, Slaughter Bulls 2.00 to 3.00 Lower Monday at OKC West Livestock   Tue, 21 May 2019 16:08:46 CDT
  • OSU's Glenn Selk Talks About the Importance of Docile Females in Your Program  Tue, 21 May 2019 15:30:54 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Tuesday, May 21, 2019  Tue, 21 May 2019 15:17:28 CDT
  • Tuesday Market Wrap-Up with Justin Lewis  Tue, 21 May 2019 14:30:19 CDT
  • Tuesday Afternoon Market Wrap-Up with Carson Horn  Tue, 21 May 2019 14:25:11 CDT
  • Senate Approves State Budget 37-11 with $3.1 Million Earmarked for Rural Infrastructure, Resources  Tue, 21 May 2019 14:18:57 CDT
  • Syngenta Enhances Company's Grow More Experience and Agronomy in Action Engagement in 2019  Tue, 21 May 2019 12:48:14 CDT

  • More Headlines...


    Ron salutes our daily email sponsors!

    Herbs Herb Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show AFR Insurance Stillwater Milling KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Search OklahomaFarmReport.com

    © 2008-2019 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.