This Week on SUNUP is Oklahoma State University Extension grain market economist Kim Anderson. During this week’s edition Anderson talks about the latest in the grain markets.
Russia’s exports are backed up, Anderson said, and their ending stocks are projected to be relatively high as they are looking at an average crop following a record crop last year.
“Then you have got the Russia and Ukraine export agreement,” Anderson said. “It is due to be renewed. Russia said they are going to extend it for 60 days. The Ukraine wants 120. That had some little impacts on the market.”
Anderson said there is also some movement impacting markets going on in Brazil and Argentina.
Brazil is projected to have a big soybean crop, Anderson said, and for the first time, Brazil will be the number one exporter of corn compared to the United States.
“The big news is La Niña is dead,” Anderson said. “It came out this week. The weather forecasters are saying La Niña has moved over to a neutral position.”
In the next few months, Anderson said, we will move to El Nino, which means more precipitation and higher production.
This week on SUNUP:
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- Dave Lalman, OSU Extension beef cattle specialist, says weaning fall-born calves early will help save forage this spring and summer, then he previews the Rancher’s Thursday Lunchtime Series.
- Wes Lee, OSU Extension Mesonet agricultural coordinator, discusses the recent windy days and explains how the Oklahoma Mesonet is able to measure wind. State climatologist Gary McManus shows how recent rains have helped improve the drought picture.