Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211


Agricultural News

Kim Anderson Says Oklahoma Commodity Prices on the Rise, It Might be Time to Sell Some Wheat

Thu, 02 Aug 2018 16:22:34 CDT

Kim Anderson Says Oklahoma Commodity Prices on the Rise, It Might be Time to Sell Some Wheat The price of wheat has again been on the move over the last couple weeks and according to Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson, things are looking more positive right now than we have seen in a while. In fact, he will share with SUNUP host Dave Deeken this weekend that wheat prices are actually higher than they were before the recent rally in grain and commodity markets.

Currently, Anderson reports the price of wheat has climbed nearly a dollar from recent lows up to $5.80, give or take a nickel. Corn is up about 30 cents this week, supporting a forward contract price of $3.50 a bushel. Soybeans are up as well by 60 cents with a current price of right at $8.00, while cotton remains relatively high on the board at 88 cents.

Anderson attributes the weather and resulting lower wheat production as the culprits driving this market rally. Russia’s production woes seem to be the main driver in this situation with a significant drop in production this year compared to last from 3.1 billion bushels total production down to 2.4 billion or so, roughly 15 to 20 percent. However, this is still an average crop for Russia. The EU is also expected to have an average crop, though down about 10 percent in its production. Ukraine, also down by about 5 percent. Australia, however, is forecast to be below average in its wheat crop by 11 percent. Essentially, with less wheat on the market to export, prices are on the rise around the world. Whether or not prices will continue to rise, Anderson says depends on how this story of worldwide production plays out, especially with Australia and Argentina as they continue to wrap their arms around this year’s crop.

In his own opinion, Anderson believes there is the slight chance prices may continue to climb some, but he is fairly certain that the market has reached its top. He advises producers to take advantage of these current market highs and sell a portion of their wheat to capture some of this price point profitability.

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 the SUNUP team’s weekly chat with Dr. Anderson- the SUNUP crew has a very full lineup for your viewing this weekend:

We are in Vinita to start fair season with a stop at the Craig County Fair. We start the show with an update from Josh Lofton on summer crops, and learn how to tell when corn and sorghum are ready to harvest.

- In Cow-Calf Corner, Glenn Selk explains why now is the time to schedule pregnancy checks for your herd with a veterinarian.

- Last week, nine Oklahoma 4-H’ers tagged along with the SUNUP crew during Roundup, to see how we produce a weekly agriculture television show.

- In the Mesonet weather report, Wes Lee shows us how cool and wet the state has been. Gary McManus says while rain has been nice for most of the state, there are places still in need of more.

- Larry Sanders explains the potential impact of the proposed $12 billion in federal aid to the agricultural industry.

- In Vet Scripts, Dr. Barry Whitworth says there is a difference between screwworms and maggots. He also shows us what the USDA is doing to control screwworms.

- Finally, we learn why people have been participating in the Craig County Fair since 1882.

If you would like SUNUP to visit your county fair, please send me an emailand we will see if we can make it!

Join us for SUNUP:
Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV



You can watch their visit tomorrow or Sunday on SUNUP- but you can hear Kim's comments right now
right-click to download mp3


WebReadyTM Powered by WireReady® NSI


Top Agricultural News

  • Slaughter Cows and Bulls Sold 2.00-3.00 Lower at OKC West Auction Monday, March 18, 2019  Mon, 18 Mar 2019 17:53:08 CDT
  • Oklahoma Seems to be the Sweet Spot for Winter Wheat At the Moment, According to Crop Progress Report  Mon, 18 Mar 2019 17:45:14 CDT
  • National Pork Board and RIPE.IO Partner to Enhance Responsible Pig Farming Practices Through Blockchain  Mon, 18 Mar 2019 16:02:53 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 pm Monday, March 18, 2019  Mon, 18 Mar 2019 15:50:07 CDT
  • China is Now Largest Beef Importing Country, Replacing the U.S. as Principle Driver of World Beef Prices   Mon, 18 Mar 2019 15:47:11 CDT
  • American Farmland Trust Partners with Seal the Seasons to Raise Consumer Awareness of the Threats to the Land that Sustains Us  Mon, 18 Mar 2019 12:38:09 CDT
  • NPPC Statement On Illegal Pork Seizure  Mon, 18 Mar 2019 10:20:41 CDT
  • Selecting for Leg and Hoof Structure- Dr. Jennifer Bormann Says a Genetic Baseline is Being Developed  Mon, 18 Mar 2019 09:04:56 CDT

  • More Headlines...


    Ron salutes our daily email sponsors!

    Herbs Herb Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Oklahoma City Farm Show Stillwater Milling KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Search OklahomaFarmReport.com

    © 2008-2019 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.