Agricultural News
OSU's Kim Anderson Says Tight Stocks are Driving Elevated Grain Prices
Thu, 12 May 2022 21:49:42 CDT
This week on SUNUP is Dr. Kim Anderson, Oklahoma State University Extension grain market economist. During this week's edition, Anderson speaks on the grain markets and factors contributing to elevated prices.
"Prices are high because stocks are relatively tight," Anderson said. "Let's start with wheat. If you look at the five-year average, the world stocks-to-use ratio it is about 38%, and it is projected to be 35%."
Not only is this a 3% drop for wheat, Anderson said, but when 28 billion bushels of wheat are produced per year, worldwide, 3% is a large quantity of wheat.
"If you look at the United States, our five-year stocks-to-use ratio is 50% and it is projected to be around 36%," Anderson said. "You look at the major exporters- that's the U.S., Canada, Australia, Argentina, Russia, and Ukraine."
The Five-year average for the major exporters is 20%, Anderson said, and 18% is what is projected.
"If you look at the black sea area, their average is 11% and is projected to be 16%," Anderson said, "So there is a lot of wheat tied up in Russia and Ukraine that hasn't got out of the export market and will, sometime in the future, come out."
This week on SUNUP:
• Justin Talley, OSU Extension livestock entomologist and department head, says the recent hot days with high humidity are the perfect environment for tick and flies to grow and spread.
• Wes Lee, OSU Extension Mesonet agricultural coordinator, reports record temperatures in parts of the state. State climatologist Gary McManus gives us a look at the latest drought monitor map.
• Derrell Peel, OSU Extension livestock marketing specialist, says it's not too late for pasture conditions to improve.
• SUNUP debuts the show's new website.
• Kim Anderson, OSU Extension grain marketing specialist, breaks down the numbers in the wheat, corn and soybean markets.
• Mark Johnson, OSU Extension beef cattle breeding specialist, has information estrous synchronization programs.
• Marley Beem, OSU Extension associate aquaculture specialist, explains why it's important to keep an eye on your ponds after heavy rainfall.
• Finally, the partnership between the USDA and the OSU Water Resources Center to use the latest mapping technology to study the structural integrity of dams.
Join us for SUNUP:
Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA-TV
YouTube.com/SUNUPtv
SUNUP.okstate.edu
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