Agricultural News
OSU's Kim Anderson Says $7 Wheat Prices are Great Compared to This Time Last Year
Fri, 17 Dec 2021 11:45:44 CST
This week on SUNUP, Oklahoma State University Grain Marketing Specialist Kim Anderson talks about high prices seen in the wheat market right now.
"Just before Thanksgiving, we had $8.46 wheat in northern Oklahoma and $8.33 wheat in southern Oklahoma," Anderson said. "Currently, $7.73 in northern Oklahoma and $7.56 in southern Oklahoma."
Although the price difference is about 75 cents, which is important to wheat producers, the situation is much better than this time last year, Anderson said.
"This time last year, we had $4.90 wheat," Anderson said. "The average wheat price from 2009 to now is about $5.50."
Contracts into 2022 for $7.65 in northern Oklahoma and $7.55 in southern Oklahoma are relatively good prices, he added.
Prices dropped off since Thanksgiving because the market got oversold, Anderson said. Markets move like a pendulum, he explained. Additionally, Australia's wheat harvest is doing better than was previously anticipated, which also drives wheat prices down, he added.
"Argentina is also completing their harvest and that wheat is coming on the market, driving prices down," Anderson said. "And of course, we are in the holiday season. With slim volume, sales can drive prices down more than they would in a regular marketing period."
Hit the LISTEN BAR below to hear more from Dr. Anderson this week on SUNUP as he talks about the current wheat market situation in the U.S. and abroad.
Join SUNUP at 7:30 a.m. on Saturdays and 6 a.m. on Sundays on OETA-TV, or by visiting SUNUP.okstate.edu.
This week on SUNUP:
Dave Lalman, OSU Extension beef cattle specialist, explains the best ways to use winter wheat pasture as a supplemental feeding strategy.
Rosslyn Biggs, OSU Extension veterinarian and beef cattle specialist, talks about the challenges rural veterinarians face and offers an overview of the Integrated Beef Cattle Program.
In the Mesonet weather report, Gary McManus says the drought is worsening as we begin to see a classic La Nina pattern of drier and warmer than normal conditions, especially across Western Oklahoma. Wes Lee also talks about the drought, as well as the depleting soil moisture conditions.
In Cow-Calf Corner, Mark Johnson, OSU Extension beef cattle breeding specialist, talks with Jeremy Leister, headquarters manager of the OSU Purebred Beef Cattle Center, about freeze branding cattle.
Kim Anderson, OSU Extension grain marketing specialist, discusses the latest numbers from the wheat and grain markets.
OSU Ag Research scientists explain how they are studying the American Burying Beetle in hopes of finding a new antibiotic to benefit the medical and animal industries.
Finally, we say a fond farewell to Kurtis Hair, our longtime SUNUP team member.
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