OSU's Kim Anderson Says 2021 Could be a Record Global Wheat Harvest Despite LossesThu, 16 Sep 2021 13:49:52 CDT
This week on SUNUP, Oklahoma State University Grain Marketing Specialist Kim Anderson talks about what experts predict the southern hemisphere’s wheat harvest will bring and how China is affecting sorghum and soybean prices.
Wheat prices have been on what Anderson describes as a “light” downtrend, about 20 cents lower than what prices were at the beginning of the month. Anderson said southern hemisphere wheat crop harvest numbers are expected to offset any losses from harvest numbers in the northern hemisphere.
“We have got record world production numbers of wheat coming up,” Anderson said.
Corn and wheat prices have both been volatile, according to Anderson. At this time, 10% of the Nation’s corn crop is harvested, he added.
Low sorghum prices are due to China staying out of the sorghum market, Anderson said.
“China was buying sorghum last year - they are not buying sorghum this year,” Anderson said.
Anderson said he thinks soybean prices could be hitting bottom. Again, China is involved.
“They canceled two cargos just last week,” Anderson said. “That of course has a negative impact on prices.”
Anderson said cotton prices are good, around 93 cents per pound.
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