This week on SUNUP - Oklahoma State University Grain Market Economist Dr. Kim Anderson joins host Dave Deeken again with his weekly analysis of the wheat market. This time Anderson reports from Enid where this week he met with grain graders and elevator managers. In talking to them, Anderson says Oklahoma’s wheat seems to be spotty.
“Some areas have really good wheat. The expectation for protein and test weight are relatively good,” he said. “Other areas are dry with short crops. They’re expecting test weights to come in at 54 to 55 bushels with maybe 14 to 14 percent protein. But without the test weight then they’ve got problems - but there are some areas in Oklahoma where expectations are high.”
Anderson says elevators will be combing the countryside seeking out those good crops and will want to buy them up early and willing to pay a premium for them.
As far as old stocks go, Anderson says elevators are likely to hold on to them to blend with better quality wheat when it comes in. He says it will either be worked into the system slowly or be moved to feedlots.
While there is still plenty of wheat on the global market, Anderson says farmers that deliver a quality product with good test weight and good protein will still be able to command as much as $5.00 to $5.25.
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