Jan 04

Crop Price Overview with Kim Anderson from Thanksgiving to New Year’s

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 crop prices.

Looking at wheat from Thanksgiving through New Year’s, Anderson said, prices ranged from $5.35 to $6.03. Over a one-month time period, Anderson said that price movement is not too surprising.

Anderson said U.S. ending stocks are now around 22 percent below average, and the stocks-to-use ratio is around 16 percent below average.

“Our average price during harvest period is around $5.80; you can forward contract for $5.76,” Anderson said. “That tells me wheat prices probably should be a little higher.”

 Anderson said the corn market was relatively stable from Thanksgiving to New Year’s, with a 20-cent price movement. Now, Anderson said corn prices are around $4.49 and are headed lower.

“Corn prices, right now, are probably where they should be, given the situation, and as we go on out to the ’24 crop, unless things change, maybe slightly higher prices,” Anderson said.

Soybeans are still on a downtrend, Anderson said, and soybeans can be forward contracted for $11.70 for 2024 delivery.

“Bean prices are probably where we expect,” Anderson said.

This week on SUNUP:

  • John Long, OSU Extension agriculture machinery specialist, has tips for properly storing farm equipment this winter.
  • Wes Lee, OSU Extension Mesonet agricultural coordinator, looks back at how much the weather changed throughout 2023.
  • Kim Anderson, OSU Extension grain marketing specialist, offers grain price predictions for the new year.
  • Mark Johnson, OSU Extension beef cattle breeding specialist, explains why having a detailed management plan is essential to having a successful 2024. 

Watch SUNUP:

Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA (PBS)
YouTube.com/SUNUPtv

Verified by MonsterInsights