OSU’s Kim Anderson says Wheat and Corn Markets Are Looking “Shakey”

Listen to Kim Anderson’s full report on the commodity markets!

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

In the last week and a half, Anderson said a dollar was knocked off wheat prices, bringing them down to around $7.90. One month ago, Anderson said wheat prices were at $9.50, so those prices have dropped quite a bit since then.

Corn has been moving sideways over the last several months, Anderson said, and was down about 30 cents this week.

Soybeans are having a good uptrend, Anderson said, but they have been moving sideways for the past few weeks. Much of that uptrend can be credited to China buying U.S. soybeans, Anderson added.

There is not much that goes on in the market between Thanksgiving and Christmas, Anderson said, and there are fewer buyers on the market during that time period.

“Right now, is a very good time to plan for that 2023 marketing year and figure out how you are going to use these scarce resources to maximize the profit, the return, to your farming enterprise,” Anderson said.

This week, SUNUP brings you the show from LeFlore County.

  • Dave Lalman, OSU Extension beef cattle specialist, answers questions from producers and offers advice about vitamin A deficiencies in livestock. 
  • Wes Lee, OSU Extension Mesonet agricultural coordinator, discusses the maximum air temperature for November. State climatologist Gary McManus looks back at the rainfall totals for 2022.
  • We learn about the first-ever Oklahoma Quality Beef Network Sale in far Eastern Oklahoma. Brian Freking, Southeast Area Livestock Specialist, and Paul Vining, OQBN coordinator, talk about launching the program in LeFlore County. We’ll also hear from a producer who’s new to the program, as well as the owner of the LeFlore County Livestock Auction.
  • In Cow-Calf Corner, Mark Johnson, OSU Extension beef cattle breeding specialist, shows us the best ways to store hay this winter.
  • Kim Anderson, OSU Extension grain marketing specialist, suggests adjusting your selling strategy from one-thirds to one-fifths. 
  • In Naturally Speaking, Dwayne Elmore, OSU Extension wildlife specialist, looks at how drought is impacting Oklahoma wildlife. 
  • Finally, SUNUP viewers learn what inspired Mrs. Elizabeth Logan to gift her ranch to OSU for research and why she is an OSU Agriculture Champion.

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