Agricultural News
OSU's Kim Anderson Says Wheat, Corn and Sorghum Price Volatility Lessens This Week
Thu, 26 Aug 2021 16:12:55 CDT
This week on SUNUP, Oklahoma State University Grain Marketing Specialist Kim Anderson said wheat prices continue to be volatile but have stayed within a 10-cent range of around $6.80 this week.
With wheat, corn and sorghum prices follow.
"They've also been volatile," Anderson said.
This week corn prices fluctuated within a 20-cent range, averaging at about $5.20. In Medford, Okla. Sorghum is going from $5.50 to $5.55.
Just the opposite is going on with soybeans and cotton.
"Soybeans - they knocked off 80 cents over the last couple weeks, but put on 40 cents this week, they're back to about $12.60," Anderson said. "Cotton got up to 95 cents last week - it went down to $0.93 - it's wallering at $0.93 to $0.94 now."
Anderson said forward-contracting canola for 2022 is at $11.40 - which he said is a pretty good canola price. The price of canola is being driven up by low supply due to drought in the northern Great Plains and Canada and poor crop conditions of the European canola crop, Anderson said.
Anderson said as the wheat harvest wraps up and new information becomes scarce, farmers should see prices begin to level out.
Hit the LISTEN BAR below to listen to Dr. Anderson's entire conversation on SUNUP.
This week on SUNUP, Tom Royer says unusual weather patterns have brought a type of armyworm to the state that primarily feeds on grasses, and these insects have caused a lot of damage.
In the Mesonet weather report, Wes Lee discusses maximum air temperatures, and Gary McManus explains how an incoming tropical storm system could bring rain to the state.
Derrell Peel says the boxed beef market is currently riding on the strongest rally of the summer.
In Cow-Calf Corner, Barry Whitworth tells us how to spot the signs of heat stress in cattle.
Misha Manuchehri has information on pre-plant herbicides for winter wheat fields.
Then, Josh Lofton says the sorghum crop is coming along a lot faster than expected.
Kim Anderson discusses how low canola production in the last growing season has led to a jump in prices.
Finally, Rosslyn Biggs explains why people should not consume medicine developed for animals.
Join us for SUNUP:
Saturday at Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV
SUNUP.okstate.edu
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