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

OSU's Kim Anderson Says Wheat Price Drop Possibly Indicating a Return to Bearish Market

Thu, 02 Sep 2021 16:18:25 CDT

OSU's Kim Anderson Says Wheat Price Drop Possibly Indicating a Return to Bearish Market This week on SUNUP, Oklahoma State University Grain Marketing Specialist Kim Anderson said lower wheat prices could create a head and shoulders pattern in the market, which has folks watching the markets closely.

Earlier this week, wheat prices were down a dime at $6.70, corn was down a quarter at $5.15 and soybeans dropped 40 cents, at $12.15.

“If we break that head and shoulders, we could drop 50 cents, so the market is watching that pretty closely,” Anderson said.

A head and shoulders pattern appears as a baseline with three peaks, where the middle is highest. Usually, a head and shoulders pattern indicates a bullish-to-bearish trend reversal.

Anderson said lower-than-predicted harvest numbers for wheat is helping wheat prices from dropping lower at this point.

ProFarmer and Allendale, both market advisory companies, came out with surveys that showed harvest numbers for corn and soybeans higher than the United States Department of Agriculture’s predictions, which is causing corn and soybean prices to shrink.

Prices may be going down, but Anderson thinks they are simply balancing out.

Hit the LISTEN BAR below to listen to Dr. Anderson’s entire conversation on SUNUP.

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

Photo credit: tradingeconomics.com



right-click to download mp3


WebReadyTM Powered by WireReady® NSI


Top Agricultural News

  • Beef Prices Likely Will Not Rise Anymore as Consumers Deal with Inflation  Wed, 20 Oct 2021 20:06:24 CDT
  • Understanding Animal Disease Traceability with Dr. Rosslyn Biggs  Wed, 20 Oct 2021 19:55:57 CDT
  • Congressman Frank Lucas Sponsors Cattle Contract Library Act of 2021 to Increasse Market Transparency  Wed, 20 Oct 2021 20:02:27 EDT
  • Wednesday, October 20, 2021, Market Wrap-Up with Justin Lewis  Wed, 20 Oct 2021 17:37:48 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2 p.m. Wednesday, October 20, 2021  Wed, 20 Oct 2021 17:27:42 CDT
  • Hoegemeyer Celebrates 85 Years in the Western Corn Belt  Wed, 20 Oct 2021 17:21:47 CDT
  • Major Ag Groups Support Bill to Establish Cattle Contract Library  Wed, 20 Oct 2021 17:19:25 CDT
  • USCA VP Thanks Congress for Legislation Introduction to Establish Cattle Contract Library  Wed, 20 Oct 2021 16:57:55 CDT

  • More Headlines...


    © 2008-2021 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.