This Week on SUNUP is Oklahoma State University Extension grain market economist Kim Anderson. During this week’s edition, Anderson talks about the latest information in the grain markets.
Anderson said it is 80 days until Oklahoma starts cutting wheat, and in 100 days, the harvest will be going ‘full blast.’ As of now, Anderson added, farmers are wanting to know where yields and prices will be.
“I don’t know about yields, and I don’t believe anybody knows about price, but there are some indications of what price will be,” Anderson said. “If you look at the forward contract price for harvest delivered wheat, say in the Pond Creek-Medford area, that is about $7.50. Research has shown that price is about the best price to use for prediction of harvest price.”
Anderson sees that price as being somewhere in between $7.50 and $8.50.
“There is a possibility that we could see what prices as low as 6 dollars or as high as 10 or 11 dollars,” Anderson said.
Covid is out of the market now, Anderson said, but things are still being impacted by the war in Russia and Ukraine.
“If something happens, we could see 13-dollar wheat again, but if we will get the war taken care of and we get Covid taken care of, I think that six to nine dollar range is good as long as we got relatively tight stocks, and when we get more stocks, it is going to fall below six (dollar) and maybe even go down to four (dollars),” Anderson said.
Looking at ending stocks, Anderson said he cansee that the use is declining, production is holding relatively stable, and prices are going to come down.
This week on SUNUP:
- Dr. Brett Carver, Regents Professor and Wheat Genetics Chair at Oklahoma State University, discusses High Cotton, the university’s newly-released hard red winter wheat variety.
- Wes Lee, OSU Extension Mesonet agricultural coordinator, explains the three methods the Oklahoma Mesonet measures soil moisture. State climatologist Gary McManus updates the latest drought monitor map.
- Kim Anderson, OSU Extension grain marketing specialist, discusses the latest movements in the crop markets.
- Mark Johnson, OSU Extension beef cattle breeding specialist, says there may be higher incidences of retained placenta this year.
- Darren Scott, OSU food scientist, explains what makes convection ovens work.
- Finally, Kevin Wagner, OSU Water Resources Center director, has information the center’s goal to implement a well water testing network.