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

advertisements
   
   
   
   
   
   
   
   
   
   

Agricultural News


Have Wheat Prices Bottomed? Kim Anderson Says We Won't Know Until Southern Harvest is Done

Thu, 30 Aug 2018 16:10:34 CDT

Have Wheat Prices Bottomed? Kim Anderson Says We Won't Know Until Southern Harvest is Done Wheat prices are again on the decline this week as OSU Extension Grain Market Economist Dr. Kim Anderson joins SUNUP for another grain market report. Anderson attributes this downward movement in the market to two things- Russia’s frontloaded export sales this year that have flooded the global marketplace and a two million bushel increase in the US spring wheat harvest.


Anderson says the extra spring wheat will be used to blend low-quality HRW, which saw lower production this year. By doing this, more wheat stocks will be available for the market which has resulted in increased supply pressure that has translated into decreased prices.


At this point, Anderson is hoping that prices have bottomed out, but says we won’t know that for sure until we get our arms around harvest in the Southern Hemisphere. Early reports suggest that Argentina’s crop is up approximately 55 million bushels from last year and Australia’s is down 54 million, effectively cancelling each other out from a production standpoint.


All indications right now suggest that we will use significantly more than we will produce this year, which means much like this year, 2019 will likely be subject to another shortage of high-protein wheat. Anderson believes if this is true and we enter next year’s harvest short on protein, then there will be strong demand for quality wheat, which he says could potentially float prices up to $5.00 to $5.50.


For producers with grain the bin currently, though, Anderson advises those that can risk slightly lower prices to maybe consider holding on to what they have for a little while to see if Russia caps its exports for the year. If so, that will bump prices here at home. However, if you have already elected to use the strategy of thirds, he recommends sticking to the plan.


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.




   



   

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

  • Taiwan Flour Millers Tour Oklahoma Wheat Industry During Trade Mission That Saw the Millers Pledge to Buy 66 Million Bushels of US Wheat   Mon, 23 Sep 2019 06:04:33 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Friday, September 20, 2019  Fri, 20 Sep 2019 15:43:01 CDT
  • Agricultural Grants and Loans Available Through Oklahoma Agriculture Dept., Application Deadline Oct. 1  Fri, 20 Sep 2019 14:46:43 CDT
  • Kim Anderson Advises Producers to Stagger Their Wheat into the Market as Wheat Follows Corn Prices  Fri, 20 Sep 2019 14:44:36 CDT
  • Friday Market Wrap-Up with Justin Lewis  Fri, 20 Sep 2019 13:55:48 CDT
  • Friday Afternoon Market Wrap-Up with Carson Horn   Fri, 20 Sep 2019 13:52:45 CDT
  • Secretary Perdue Highlihgts Administrative Actions by Dept. of Labor to Streamline Burdensome H-2A Process  Fri, 20 Sep 2019 11:56:22 CDT
  • Eight Local Cattlemen's Organizations Receive Payout Checks from the OCF Steer Carcass Challenge  Fri, 20 Sep 2019 11:41:53 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    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

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA

    Search OklahomaFarmReport.com


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

    WebReady powered by WireReady® Inc.