Wheat Stocks to Stay Tight into Next Marketing Year, says OSU’s Kim Anderson

Listen to Kim Anderson talk about the latest in the grain markets.

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 the upcoming WASDE (World Agricultural Supply and Demand Estimates) report.

As the USDA will release the May WASDE report on Friday, May 12, Anderson said those estimates will be important because it is the first time the USDA will release the estimates for the 2023 and 2024 crop year numbers.

“I think the most important numbers, though, are the ’22 and ’23 crop years for wheat that ends in May for corn and beans that end in August and for cotton that ends in July,” Anderson said. “I think those numbers are important because they set the foundation for the next year.”

Anderson also talked about the supply and demand for wheat. World wheat stocks, he added, are tight.

“I think the best way to look at that is ending stocks,” Anderson said. “You could look at the stocks to use, but I like those ending stocks. You look at the world for the ’22-’23 marketing year- 9.7 billion bushels. Your average is 10.5.”

The industry’s wheat ending stocks estimate for 2023 (not USDA’s estimate), Anderson said, was slightly lower at 9.5 billion.

“Looks like wheat stocks are going to stay tight into the next marketing year,” Anderson said.  

This week on SUNUP:

  • Becky Carroll, OSU Extension fruit and nut specialist, discusses the upcoming Oklahoma Pecan Growers Association Convention.
  • Wes Lee, OSU Extension Mesonet agricultural coordinator, says summer crops are having a hard time getting established given the cool soil temperatures. State climatologist Gary McManus updates the latest drought monitor map. 
  • Josh Lofton, OSU Extension cropping systems specialist, explains what needs to happen for a successful summer crop season. 
  • Kim Anderson, OSU Extension grain marketing specialist, gives advice for how producers should sell their wheat. 
  • Mark Johnson, OSU Extension beef cattle breeding specialist, discusses reproductive tract scoring
  • We revisit a story about OSU research on salt water application for crops. 
  • Finally, SUNUP learns what makes John Fenderson an OSU 2022 Distinguished Alumnus. 

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

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