This Week on SUNUP is Oklahoma State University Extension grain market economist Kim Anderson. During this week’s edition, Anderson talks about crop prices and the USDA 2024 Commodity Outlook Report.
On average, Anderson said wheat in Oklahoma is around $5.30. That price is slightly lower in the panhandle, and in central Oklahoma and southern Oklahoma, the price is about $5.00 even.
To forward contact wheat for harvest delivery, Anderson said the price is around $5.20. The average wheat price over time, Anderson added, is around $5.80.
Looking at corn, Anderson said corn prices in December were around $4.70 and are now around $4.10 or $4.13. Corn can be forward contract for 2024 delivery at around $4.40.
“Soybeans was our poster child until we got into that November and December time period,” Anderson said. “Peaked out around $13.25. We have knocked two dollars off the bean prices, especially over the last month and a half. We are down to around $11.25 for beans now.”
Anderson said beans can be forward contracted for harvest delivery for around $10.90.
Regarding the USDA 2024 Commodity Outlook report, Anderson said 47.5 million acres of winter wheat are projected to be planted compared to 48.8 last year. Anderson said production is estimated at about 1.9 billion bushels compared to 1.8 last year.
“Ending stocks are projected to go up from 658 million bushels to 720 million bushels, so lower wheat prices,” Anderson said.
This week on SUNUP:
- Rosslyn Biggs, OSU Extension beef cattle specialist, says an OSU study is underway to see whether antibiotic resistant parasites are becoming an issue in Oklahoma cattle herds.
- Wes Lee, OSU Extension Mesonet agricultural coordinator, discusses Mesonet’s First Hollow Stem Advisor and shows how it can assist dual-purpose producers determine when to pull cattle off of wheat pasture.
- Eric DeVuyst, OSU Extension agricultural economist, crunches the numbers to determine whether it’s worth it to harvest wheat pasture for grain or graze it out for cattle in a season with good wheat prospects and high beef prices.
- Josh Bushong, OSU Extension west area agronomist, has more information on OSU Extension tools available to producers who need to make timely management decisions.
- Kim Anderson, OSU Extension grain marketing specialist, breaks down the latest USDA Agriculture Report.
- Mark Johnson, OSU Extension beef cattle breeding specialist, explains when it’s time to assist during calving.
- SUNUP previews the upcoming 2024 OSU Extension Grape Management Course.
- Finally, Marley Beem, OSU Extension aquaculture specialist, discusses problems that can arise in ponds.
Watch SUNUP:
Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA (PBS)
YouTube.com/SUNUPtv
