Dead Ahead- OSU's Kim Anderson Sees Quiet Holiday MarketsThu, 12 Dec 2019 20:30:58 CST
In his weekly visit with SUNUP host Kurtis Hair this weekend, Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson talks about the current status of the markets and how he thinks they will play out over the holidays.
“I don’t think there is much going on in the markets right now,” Anderson said. “You look at corn, they are at their lows with a slight down trend. Soybeans have seen about. $.30/bu rally over the last couple of weeks. Wheat has been moving sideways in the last couple of weeks, with the March contract between $4.25/bu and $4.50/bu.”
Anderson says cotton has had a rally to between $.64 and $.67 with the bottom being $.58. With that being said, there just isn’t much going on in the markets, which he says is normal over the holiday period.
“In the December World Agriculture Supply and Demand Estimates Report (WASDE), wheat had a little news,” he said. “They increased export projections, especially for hard red winter wheat, I think that is good news. And they lowered US ending stocks for the year, I think that is good news domestically.”
Anderson says on the world stage, they lowered production projections for Argentina, Australia and Canada and offset those lower projections with higher projections for Russia and the European Union. As well they raised the world ending stocks for the year. He says the negative news in the world, offset the good news in the US.
This week on SUNUP, Brad Kard tells us why it is important to think about what is living in the firewood we store in or near our houses.
- In the Mesonet weather report, Wes Lee shows us how rainfall fared so far in 2019. Gary McManus says drought has not grown much in Oklahoma, but we’re just starting to get into the dry season.
- Then, Josh Lofton has an update on the canola crop and a look back at the 2019 summer crops.
- Dave Lalman explains the different options of cubes for cattle.
- In Cow-Calf Corner, Glenn Selk talks about the discussions around placing to-be-bred cattle on wheat pasture.
- Kim Anderson tells us to expect a sideways slide for most markets until the new year.
- Finally, in Food Whys, Darren Scott explains the origin of chocolate and how it changes on its way to the consumer.
Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
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