Kim Anderson Sees Crop Prices Holding for Time Being

Listen to Kim Anderson talk commodity markets on OSU’s SUNUP

This Week on SUNUP is Oklahoma State University Extension grain market economist Kim Anderson. During this week’s edition, Anderson talks about the latest in the commodity markets.

“Wheat was a little more active than the other markets this week,” Anderson said. “You look at about a 35-cent price range for wheat prices from $8.90 up to $9.25 end of the week in the middle there somewhere.”

On corn, Anderson said only 11 cents moved from the bottom to the top. Corn moved $7.27 to $7.38, he added.

Soybeans didn’t have any big moves this week, Anderson said, as they moved from $14.28 to $14.50. Cotton, Anderson said, is unchanged from last week.

“The winds aren’t blowing in the market,” Anderson said.

2022 harvest for all practical purposes is completed, Anderson said, and there are still drought issues and uncertainty about production.

“The market adapts to shocks in the market,” Anderson said.

Things are starting to adjust to the shocks that have been in the market, Anderson said, and prices are waiting to see what is going to happen in the future.

While there is always the chance of prices lowering in the market, Anderson said there are tight stocks in the commodity markets which will help those high prices hold.

This week on SUNUP:

  • Amy Hagerman, OSU Extension agricultural policy specialist, discusses the updates and deadlines for the next round of funding approved by the Oklahoma Emergency Drought Commission.
  • Wes Lee, OSU Extension Mesonet agricultural coordinator, says warmer weather is on the way. State climatologist Gary McManus analyzes the latest drought monitor map. 
  • Kim Anderson, OSU Extension grain marketing specialist, explains why the recent volatility in the crop markets has finally smoothed out. 
  • We have information on the upcoming 2022 Winter Crops School.
  • Mark Johnson, OSU Extension beef cattle breeding specialist, reminds us of another option to consider for Thanksgiving tables. 
  • For those sticking with a traditional Thanksgiving dinner, we have a few turkey facts from USDA-NASS
  • Finally, John Weir, OSU Extension fire ecologist, discusses how the recent rain and snow will impact Oklahoma’s wildfire season

Join us for SUNUP:
Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA (PBS)