Agricultural News
Kim Anderson on Rising Grain Prices Despite Larger Ending Stocks in Feb. WASDE Report
Thu, 10 Feb 2022 16:15:08 CST
This week on SUNUP, Oklahoma State University Grain Marketing Specialist Kim Anderson talks about the latest WASDE report that was released by the U.S. Department of Agriculture yesterday. Anderson said overall, there were no major changes in supply and demand expectations.
"Ending stocks for wheat, corn and beans went up a little bit," Anderson said. "They were near the top end of the range of pre-release estimates, yet prices for all went up."
Wheat and corn prices rose 14 cents and soybeans rose more than a quarter, according to Anderson.
"Today's prices - the relatively high prices we have now - that is not very much, but it is still a positive price move, with very slightly bearish numbers," Anderson said.
According to prices out of Medford, Okla. right now, wheat is selling for about $7.85. Producers looking to sell during the summer harvest period can make $7.90 per bushel. Current corn prices are about $6.30, with forward contracts at about $5.60 for harvest delivery. Current grain sorghum prices are about $6.45, with forward contracts at about $5.55. Soybeans are up to $15.40 a bushel on the cash market, and 2022 harvest prices are about $13.60. Lastly, cotton is around $121 per 100 lbs in Oklahoma and futures prices are about $125 per 100 lbs.
Hit the LISTEN BAR below to hear more from Dr. Anderson this week on SUNUP as he talks about the Feb. 2022 WASDE report, what crop prices are doing and how that affects grain-price expectations.
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:
• Amanda De Oliveira Silva, OSU Extension small grains specialist, has a progress report on Oklahoma's wheat crop and advice on the arrival of first hollow stem.
• Dave Lalman, OSU Extension beef cattle specialist, follows up with guidance on nutritional needs for cattle after removal from wheat pasture.
• Wes Lee, OSU Extension Mesonet agricultural data specialist, looks at the moisture impact from last week's winter storm. Gary McManus, state climatologist, shows us the latest drought monitor.
• Mark Johnson, OSU Extension beef cattle breeding specialist, explains how to recognize, treat and prevent what's known as hardware disease in cattle.
• Kris Hiney, OSU Extension equine specialist, discusses the spring transition period for mares.
• Finally, Brian Whitacre, OSU Extension rural economic development specialist, provides an update on broadband expansion in Oklahoma.
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