This week on SUNUP - Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson joins Dave Deken talking wheat prices. Anderson predicts over the next several weeks, wheat prices will continue to move sideways. Currently, he says we have seen prices fall about $0.15 early in the week and have since captured some of that back.
When asked about expected harvest prices though, Anderson referred to a recent conversation he had. He claims a well-reputed analyst told him that based on his calculations, he only expect harvest delivered wheat prices to reach $2.75 - $2.80 in July near the Oklahoma and Kansas City area. Anderson however, insists he is not that pessimistic - and suggests that on the safe side, he could see prices ranging anywhere from $3.75 - $4.25.
To reach the top-end of that range though, Anderson says it will take a wheat crop with high protein levels of at least 11.6 - 12 percent and a test weight of 60 lbs.
For farmers who have invested in inputs this year, he says they will most likely incur a cost of production loss. To make any returns on that wheat he says, prices will need to reach up to $4.50 to the $5.00 level to offset the variable cost of production.
You can watch their visit tomorrow or Sunday on SUNUP- but you can hear Kim's comments right now by clicking on the LISTEN BAR below.
Beyond their weekly chat with Dr. Anderson- the SUNUP crew has a very full lineup for your viewing this weekend:
This week on SUNUP, we start with Josh Lofton explaining why canola plants may die if planted after certain wheat varieties in no-till fields.
- Then, to sort out the science behind a recent story that made national news, Dave Lalman tells us why cattle may have a sweet tooth and can benefit from some candy in their feed.
- In Cow-Calf Corner, Glenn Selk has an overview of behaviors and other signs indicating a calf is on its way.
- Derrell Peel says the Oklahoma cattle industry only took four years to bounce back following record liquidations during the drought.
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