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 grain markets and prices.
“If you have been watching crop prices lately, you have probably been pretty bored,” Anderson said. “However, we have had enough moving in the prices to make some farmers nervous.”
Anderson said harvest delivery of wheat in northern Oklahoma around the Medford and Pond Creek area is around $8.00 to $8.20 per bushel. Southern Oklahoma around Snyder, Anderson said, is around $7.90, and the panhandle is around $8.20 to $8.25 per bushel.
Corn can be forward contracted in northern Oklahoma around the Medford and Pond Creek area for around $5.50 per bushel, Anderson said, and in southern Oklahoma around Weatherford, corn is forward contracting for $5.90 per bushel. In the panhandle, it is around $6.30.
Soybeans can be forward contracted in most of Oklahoma for around $12.20, Anderson said, and in the panhandle area for about $11.90.
“Cotton prices had movements between $7.75 and 85 cents,” Anderson said. “Down around 80 cents now is what the market is going to tell you it is going to be around harvest.”
The biggest factor that will impact prices between now and harvest, Anderson said, is the weather.
“It is dry in much of our hard red winter wheat area,” Anderson said. “It is a couple months before we get into harvest and a lot can happen to lower that yield. If yield comes in a little bit less than expected, we could have higher prices.”
This week on SUNUP:
- Meriem Aoun, OSU Extension wheat pathologist, says disease and virus pressure has been quiet so far this growing season, but things could change fast.
- Kris Giles, OSU entomology professor, explains why producers need to be on the lookout for brown wheat mites in their fields.
- Wes Lee, OSU Extension Mesonet agricultural coordinator, says much of Oklahoma’s “wheat belt” is struggling when it comes to soil moisture, but rainfall could be on the way. State climatologist Gary McMansus updates the latest drought monitor.
- Derrell Peel, OSU Extension livestock marketing specialist, discusses the declining beef production situation, which is beginning to have an impact on wholesale prices.
- Kim Anderson, OSU Extension grain marketing specialist, breaks down the latest moves in the crop markets.
- Mark Johnson, OSU Extension beef cattle breeding specialist, discusses how producers can manage their pastures during drought this spring.
- Finally, we preview the upcoming Tipton and Chickasha Wheat Field Days.
