Agricultural News
OSU's Kim Anderson Explains Why Grain Prices Have Descended into a Bit of a Lull
Thu, 21 Apr 2022 17:10:06 CDT
This week on SUNUP, Dr. Kim Anderson, Oklahoma State University Extension grain market economist. During this week's edition, Anderson speaks on current crop markets.
"It is a tough scenario to explain," Anderson said. "We have got a record, or near-record, prices right now."
Looking at the forward contract prices for harvest and deliver, Anderson said we have got wheat at $11.15. There was only a plus or minus 16 cents move this week, but one day we did have 32 cents from the bottom of that range to the top of the range, he added.
"You look at corn; 7 dollars and ten cents a bushel, plus or minus a ten-cent move this last week," Anderson said. "Sorghum is 7 dollars and the same ten cent move."
Soybeans, at $14.30, is still only about a 30 cent price move, Anderson said.
"This last week, prices have just been lackadaisical and just in a lull," Anderson said. "Who knows how long it is going to last. We know that it is probably not going to be very long with prices this high- we have had 85 cents in a single-day price move in wheat, and 30-40 cents moves in corn."
Anderson said the markets are high, volatile, and they are what the analysts call "thin".
"There are not very many buyers and sellers in the market right now, so it just takes a few buyers or a few sellers to get that price to move, but we don't know when that is going to happen," Anderson said.
This week on SUNUP:
• Mark Johnson, OSU Extension beef cattle breeding specialist, discusses how to detect heat in cattle.
• Wes Lee, OSU Extension Mesonet agricultural coordinator, has information on the long-term rainfall averages in the state. State climatologist Gary McManus analyzes the latest drought monitor map.
• Kim Anderson, OSU Extension grain marketing specialist, explains why grain prices have descended into a bit of a lull.
• SUNUP revisits a story from last December explaining why virtual fencing has the potential to positively impact profits for cattle producers.
• Darren Scott, OSU food scientist, discusses the history of pressure cookers.
• SUNUP invites viewers to the upcoming Tipton and Chickasha Wheat Field Days.
• We rewind to October 2020 and a visit to Garfield County to see the unique way volunteers are brightening up Main Street.
• Bobcat population research is the focus of a popular SUNUP segment from 2020.
• Finally, SUNUP revisits a story from 2019 where a Woods County 4-H member has a special project to help those in need.
Join us for SUNUP:
Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA-TV
YouTube.com/SUNUPtv
SUNUP.okstate.edu
To hear more from Kim Anderson on Sunup this week, click or tap below.
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