In their weekly grain market conversation, OSU’s Grain Market Economist Dr. Kim Anderson tells SUNUP’s Lyndall Stout that the latest escalation by Russia against Ukraine’s major grain export port, Odessa, has caused a lot of volatility in the global wheat market.
Almost thirty percent of total wheat exports globally historically come from Russia and Ukraine- and it’s over forty five percent of the wheat market for bread making coming from the two countries.
Dr. Anderson says that the war premium on the wheat prices here in the southern plains is roughly a dollar to as much as a dollar fifty. Currently average Oklahoma cash wheat prices have been living around the $7.80 level- and when it appears that wheat from Ukraine won’t make it into the global market-we have seen those prices as high as $8.50.
Anderson believes if there was no war and wheat from Russia and Ukraine had full market access- wheat prices this season in Oklahoma would likely be around $6.50 to $7.00 per bushel- Anderson sayss that’s his best guess.
Listen to Dr. Anderson and Lyndall Stout talk wheat by clicking on the audio bar above.
Dr. Anderson is one of several segments make up the regular SUNUP program from Oklahoma Ag Communications
In Addition- This week on SUNUP:
- Kelly Seuhs, OSU Extension alfalfa specialist, says producers should be on the lookout for blister beetles in their fields.
- Wes Lee, OSU Extension Mesonet agricultural coordinator, details how quickly the rain shut off in the state. State climatologist Gary McManus compares how green it is now to this time last year.
- Janice Hermann, OSU Extension adult and older adult nutrition specialist, covers the symptoms of heat exhaustion.
- Derrell Peel, OSU Extension livestock marketing specialist, says nearly all cattle inventory numbers are down, which is not surprising.
- Kim Anderson, OSU Extension grain marketing specialist, discusses how Russia’s war with Ukraine is impacting crop markets.
- Mark Johnson, OSU Extension beef cattle breeding specialist, explains how vital water is to cattle production.
- Finally, SUNUP catches a glimpse of the 102nd State 4-H Roundup!
Watch SUNUP:
Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA (PBS)
YouTube.com/SUNUPtv
