This Week on SUNUP is Oklahoma State University Extension grain market economist Kim Anderson. During this week’s edition, Anderson talks about commodity prices.
Anderson said wheat prices are at $6.25 in the Pond Creek area and around $6.35 in the panhandle. Wheat harvest is expected to be around the same as last year at about 69 million bushels, Anderson added.
As for where wheat prices will end up, Anderson said it is not likely for prices to go lower than $3 or above $13 dollars, but it is not impossible either.
Looking at the 2024 harvest prices, Anderson said right now, wheat producers can forward contract for $6.25.
“If you look from harvest to harvest, from year to year, the average change is $1.26, and the average price in Pond Creek has been $7.45, so that gives you a range of $6.20 to $8.70 for next year,” Anderson said. “We are at $6.25 right now, so we are already at the bottom of that.”
Anderson said that based on history in Oklahoma, most producers will get a higher average price for their wheat if they will sell during the June to August period.
This week on SUNUP:
- Amy Hagerman, OSU Extension agricultural policy specialist, discusses the potential impacts of the Farm Bill expiration.
- Wes Lee, OSU Extension Mesonet agricultural coordinator, talks about the recent rains. State climatologist Gary McManus says we better enjoy the cooler weather the next few days because above-average temperatures are on their way back.
- With the Oklahoma Quality Beef Network sale dates starting soon, we take a look back at a SUNUP favorite about the youngest OQBN participant.
- Kim Anderson, OSU Extension grain marketing specialist, looks at how wheat prices changed over the summer.
- Mark Johnson, OSU Extension beef cattle breeding specialist, explains the importance of reproductive efficiency.
- We preview the upcoming 2023 Cowboy Stampede.
- Finally, to celebrate National 4-H Week, we revisit a SUNUP favorite about a program that teaches 4-H’ers what it takes to be a veterinarian.
Watch SUNUP:
Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA (PBS)
YouTube.com/SUNUPtv
