This week on SUNUP - Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson joins host Dave Deeken again talking about some good news this week in the wheat markets ahead of harvest.
Anderson reports about a 50-cent increase in the Kansas City July contract this week, thanks to some improvement in the basis. Cash prices across Oklahoma range currently between $5.20 to $5.50.
Anderson says this is good news in the market is being driven by all the bad news in the field, citing inclement weather and expectations of low yield production and grain quality for this harvest.
Apparently, this situation is not only limited to Oklahoma and the Southern Plains. Rather, these dry and poor growing conditions have affected crops worldwide. Anderson explains that this is having a positive price impact here at home.
He believes farmers that actually will be harvesting their crops this year, will enjoy premiums well over the $5.30 range if they deliver high-quality grain to the elevator with 59lb.+ test weight and a minimum of 12 percent protein. On the other hand, he says discounts and dockage will cut deeply this year for subpar grain.
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.
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