The Roundup -

Olson To Present 2023 Market Outlook At The 70th Annual National Hard Spring Wheat Show Feb. 1

 

January 25, 2023 | View PDF

Frayne Olson, PhD, NDSU Extension agriculture economist/marketing specialist. (Photo submitted)

The 70th Annual National Hard Spring Wheat Show is scheduled for Feb. 1 at the Grand Williston Hotel, 3601 2nd Ave. W., Williston. The primary objective of the Wheat Show is to provide information and education that will assist producers as they make decisions to maximize profit opportunities, be great stewards of the land, and promote area agriculture.

Frayne Olson, PhD, NDSU Extension agriculture economist/marketing specialist, and Quentin Burdick Center for Cooperatives director, will present the 2023 Market Outlook for commodities at 5:15 p.m.

The farming goal they will be sharing is to leave the dirt, financial statements, and industry, in a better state than the previous generation. Olson has stated, at the Northern Ag Expo in Fargo, that in the spring of 2022, farmers were concerned about planted acreage as well as yield potential. "The crop turned out to be a lot better than anticipated. When looking at total production numbers, they came in with kind of an average sized crop. The question now is where do we go on the demand side? The 2022 grain markets had many political aspects that were outside of agriculture. Corn and soybeans exports are about 50% of what they were this time in 2022, so that is a concern going forward. We are relying very heavily on the Chinese market, our most dominant buyer, to pull off a lot of the US soybeans. The soybean buying habits right now from China are really kind of a wait and see type of situation."

 

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