This Week on SUNUP is Oklahoma State University Extension grain market economist Kim Anderson. During this week’s edition, Anderson talks about the latest news in the crop markets.
Anderson said wheat prices are around $5.70, up about 25 cents over the last week.
“If you go back a couple of weeks, we said that prices were going to be erratic over the holiday season and that is what we saw last week,” Anderson said. “Prices on wheat coming down, really no reason. There are just more sellers in the market than buyers. They came back up this week.”
Anderson said that corn prices are down to around $4.40 because the U.S. harvest was higher than expected. From late October to now, Anderson said the price of corn has continued to decline.
Anderson said that soybeans have been a bright spot, as many farmers’ crops turned out better than expected in yields. Soybean prices are up around $12.90, Anderson added.
The 2024 wheat crop is now forward contracting for $5.75, Anderson said, which is higher than the current price. In Southern Oklahoma, Anderson added that the forward contracting price is about 30 cents less, and in the Panhandle, the price is about five cents more.
Anderson said the 2024 corn crop is forward contracting for $4.80; in the Panhandle, that price is 60 cents higher.
Soybeans, on the other hand, Anderson said, are forward contracting a lower price than the current market price at $12.20.
This week on SUNUP:
- Jennifer Rudd, OSU veterinarian and infectious disease researcher, has information on a mysterious illness impacting dogs in the Pacific Northwest.
- Wes Lee, OSU Extension Mesonet agricultural coordinator, discusses the cattle comfort index tool. State climatologist Gary McManus says warmer temperatures will be here soon.
- SUNUP learns about a friendly competition the OSU Extension Small Grains program is holding this growing season for wheat.
- Barry Whitworth, OSU Extension veterinarian, explains why it’s important to protect livestock from cold temperatures.
- Mark Johnson, OSU Extension beef cattle breeding specialist, discusses weaning weights vs productive efficiency.
- Kim Anderson, OSU Extension grain marketing specialist, says soybean is really the only grain that is holding strong in the markets.
- Finally, SUNUP meets the new national FFA president, Amara Jackson.
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