Dr. Kim Anderson Explains why Grain Markets Could become more Volatile in the Coming WeeksThu, 29 Oct 2020 15:51:26 CDT
Oklahoma State University Extension Grains Market Analyst Dr. Kim Anderson talks about what is going on in the Wheat Markets weekly on SUNUP.
For the past few weeks we have seen a rally in the wheat markets, but we also saw an 18cent hit. Dr. Anderson says the concern is about moisture and the concerns about the market, "First we had good strong export demand. The importing countries buying ahead because of the coronavirus, building up stock so that increased demand. And then we've got projected tight-ending stocks in the Black Sea area with Ukraine and Russia. US, hard red winter wheat any stocks projected to be around 350 million bushels. The average is over 500 million bushels. All US wheat stocks are tight. Then you talk about the drought. We had dry conditions, planting conditions in the United States, in Russia in Ukraine, dry in Argentina. So, if you look at the hard wheat, the breat wheat, you got relatively tight stocks, and you've got increased demand. That drove the prices up. Then it rained in Russia, rained and we got moisture in the hard red winter wheat area, you can definatly see it here in Oklahoma. And I think the market is concerned about all this buying the ahead of wheat because once we get through this coronavirus, then they are going to have excess stock, and our demand is going to go down, and prices will go down." To hear more from Dr. Anderson, click or tap below.
This week on SUNUP, we learn how the pecan crop was progressing before the recent ice storm.
- Then, in the Mesonet weather report, Wes Lee shows us how temperatures can determine whether precipitation falls as snow, freezing rain or rain. Gary McManus says with all of the recent rain and snow, next week’s drought monitor should improve.
- Dave Lalman shows us how new versions of the Cowculator and the Cowculator app can help cattle producers estimate herd nutrition costs.
- In Extension Explains, Laura Goodman tells us how carbon sequestaion differs in trees and grasses.
- Kim Anderson explains why grain markets could become more volatile in the coming weeks.
- Amy Hagerman has information for livestock producers who had to sell due to drought conditions, as well as a reminder about CFAP2 deadlines.
- Finally, in Cow-Calf Corner, Glenn Selk explains why it is important to maintain body condition scores for cattle between calving and breeding seasons.
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Sunday at 6 a.m. on OETA-TV
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