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


Kim Anderson Says Price of Wheat has Slipped, But Producers Should be Ready to Sell in February

Thu, 25 Oct 2018 16:23:24 CDT

Kim Anderson Says Price of Wheat has Slipped, But Producers Should be Ready to Sell in February To producers’ chagrin, the price of wheat has fallen over the past couple week. The market is down 25 cents this last week alone, and approximately 40 cents lower looking over the last two weeks. According to Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson, in an interview this week with SUNUP Host Dave Deeken, several things are at play in the market that have contributed to this price decline.


The larger issue impacting prices, he says, is that the Dollar Index increase about 3% from around 93.4 to 96.4 – essentially raising the export price about 20 cents a bushel. Compounding that issue – US export sales continue to “be in the tank,” as Anderson puts it. HRW total sales since June 1 for the US is 36% lower than last year. USDA’s prediction is that they will be down 10% for the year, yet no recovery has been made so far as countries around the world have been opting to purchase wheat from nations besides the US.


The other factor is of course, Russian production. Reports have brought conflicting information as to just how big the Russian crop is – always seeming to raise the number incrementally. Anderson says as long as Russia has wheat to sell, it will take a bite out of US price margins.


Taking into consideration the bigger picture overall, Anderson says it would be accurate to say that the domestic wheat market is being set up for a downtrend, citing the break in the $5 support level in the KC December contract falling to the July low recently of $4.93. He says if it continues to fall below that, prices could go as low as another 20 cents or so. Anderson says prices will eventually improve – but not until export sales do. That, he says, is totally dependent on when Russia runs out of wheat to sell, which he calculates will occur sometime around the first of the new year. He advises producers that can afford the 50 cent price risk to store their wheat until sometime in December or January when he believes prices are set to improve. Otherwise, he says take the emotion out of the equation and sell your wheat in lots between now and then.


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 their weekly chat with Dr. Anderson- the SUNUP crew has a very full lineup for your viewing this weekend:


This week, we learn from Josh Lofton how a long, wet harvest is impacting the soybeans that are still in the field.


- In the Mesonet weather report, Wes Lee shows us how wet Oklahoma has been and why it’s been hard for producers across the state to get field work done. Gary McManus has temperature and precipitation outlooks for winter.


- In Cow-Calf Corner, Glenn Selk explains why it can be risky for cattle to graze sorghum following a freeze.


- Dave Lalman has information about the upcoming Totusek Lectureship, featuring Anne Burkholder.


- Derrell Peel says livestock producers are excited about the potential for wheat pasture, even though it’s still too wet to put cattle on it.


- Brian Arnall explains how immobile nutrient sufficiency relates to soil test sufficiency recommendations.


- Finally, with Homecoming this week, we learn how two CASNR students are connected to Oklahoma State University’s number one Cowboy.


Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV



   


   




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

  • AFBF Leads 135 Farm Groups in Asking President Trump, Congress to Give Farmers Disaster Relief  Fri, 19 Apr 2019 13:39:42 CDT
  • Oklahoma State FSA Director Scott Biggs Contends on Farms and Ranches, Every Day Is Earth Day   Fri, 19 Apr 2019 13:35:34 CDT
  • Ag Banks Make Adjustments as Lending Remains Elevated, According to the Federal Reserve Bank  Fri, 19 Apr 2019 13:23:54 CDT
  • U.S. Grains Council Supports World Trade Organization Report Finding China Misused Corn TRQ  Fri, 19 Apr 2019 13:15:57 CDT
  • Check Out Your 2019 Southeast Area Star in Agribusiness, Colten Spears of the Atoka FFA Chapter  Fri, 19 Apr 2019 13:31:19 CDT
  • Kim Anderson Says Price Forecasts Not Great for Commodities Even Though the Weather Forecast Is  Fri, 19 Apr 2019 13:08:19 CDT
  • OKFB's Ron Justice Monitors Progress of Concerning Water Bills as Important Deadline Approaches  Fri, 19 Apr 2019 12:49:53 CDT
  • Cattle on Feed Up 2% - OSU's Derrell Peel Breaks Down the Numbers in this Month's USDA Report  Fri, 19 Apr 2019 11:00:38 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Herbs Herb Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment AFR Insurance Oklahoma City Farm Show 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.