OSU's Kim Anderson talks Wheat Prices and the World Market in Early 2020Thu, 23 Jan 2020 16:41:01 CST
Oklahoma State University Extension Grains Market Analyst Dr. Kim Anderson talks wheat prices with SUNUP's Kurtis Hair this week and what the world market is looking like in early 2020.
“If you look at wheat this last week, we had a little rally in the middle of the week,” Anderson said. “Wheat and corn prices are wallowing around mostly soybean prices are falling off about $.25/bu and the cotton market moved about $.2/lb.”
Anderson says the soybean market is waiting for China to arrive wanting to buy some. This all comes after the Phase 1 deal was signed. However, Anderson adds that Phase 1 doesn’t actually go into effect until February 14. He also says that China might be waiting to buy beans from the U.S. to wait for the prices to go down even more.
“The longer they delay buying soybeans, the lower that price is going to be,” he said. “That’s just smart to make an agreement and not come in and buy right off the bat. I think some people in the market are getting in a little bit of a hurry and getting antsy, but we will know when China buys the beans.”
In the world wheat market, it has been reported that they are going to limit their export sales. However, he says the market is ignoring the fact that Ukraine is making up for Russia’s reduction in exports. In France, they have the labor strike going on as well as transportation strike. Anderson says they have a good demand for wheat, but they can’t get it to the market, thus helping the U.S. prices a little.
This week on SUNUP, we learn about bloat in cattle from Paul Beck. Ryan Reuter then shows us a new app that helps producers tell when conditions are right for bloat.
- Then, Dr. Barry Whitworth explains what producers can do once they realize cattle may be suffering from bloat.
- Derrell Peel says Australian drought and wildfires could have an impact on the country’s beef exports for the next five years.
- In Cow-Calf Corner, Glenn Selk explains the signs that indicate a cow is about to calf.
- In the Mesonet weather report, Wes Lee shows us the measurements that determine the Cattle Comfort Advisor. Gary McManus says drought has moved across Oklahoma. He also has the outlook for February.
- Amy Hagerman reminds producers of upcoming USDA deadlines.
- Finally, Kim Anderson says China will more than likely wait to buy soybeans until after the US-China agreement goes into effect next month.
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Sunday at 6 a.m. on OETA-TV
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