OSU's Kim Anderson Talks about the World 2019 Wheat Marketing Year and 2020 Wheat PricesFri, 06 Dec 2019 03:21:52 CST
In his weekly visit with SUNUP host Lyndall Stout this weekend, Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson talks about the world 2019 wheat marketing year, and what to expect to next year.
“The overall projections were relatively accurate this year,” Anderson said. “If you look at the world, a record 28.1 billion bushel crop. If you look at the foreign crop it is a near record at 26.2 billion bushels.”
Anderson says Oklahoma had a below average crop this year, with 110 million bushels of hard red winter wheat being harvested. However, Russia harvested a near record 2.7 billion bushel crop and Ukraine harvested a record 1.1 billion bushel crop, he added.
“If you want to go to a bad place in the world,” Anderson said. “Australia lost their third crop in the world, with only 632 million bushels this year. And their average is right around 900 million bushels.”
Anderson added that the numbers are not definitive, but it looks like the world has relatively good numbers for protein in their wheat. The Black Sea Region is easily meeting that 12.5% protein content desired by the market.
“Its hard to come up with a world price because you have the different classes of wheat,” he said. “But you can go to the Black Sea, and if you look at futures price using the March contracts it was $5.96/bu for Black Sea wheat. KC wheat for march contract was $4.40/bu. Spring wheat contract out of Minneapolis is $5.16/bu.”
Anderson says prices in Chicago, the Texas Gulf and Europe are all right around $5.00/bu. However, in Oklahoma prices are right around $4.15/bu, he added.
This week on SUNUP, Brian Arnall explains how grid sampling can help scientists and producers learn about how their land uses soil nutrients.
- Then, in Cow-Calf Corner, Glenn Selk tells us why colostrum is important to a calf’s health, especially in its first hours of life.
- Derrell Peel talks about how beef and cattle markets fared in 2019.
- In the Mesonet weather report, Wes Lee shows us how recent air temperatures compared to average. Gary McManus says drought is expanding even though part of the state has seen above average rainfall for the year so far.
- John Weir has advice to help landowners manage wildfire potential while plants are dormant over the winter.
- Kim Anderson says Oklahoma wheat is priced to sell at $4.15/bu., and it’s starting to move.
- Finally, Dr. Barry Whitworth explains why hydration is especially important for livestock over the winter.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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