This Week on SUNUP is Oklahoma State University Extension grain market economist Kim Anderson. During this week’s edition, Anderson talks about the change in wheat prices and more
“Wheat is just continuing to go in the tank,” Anderson said. “You go back a month ago, or not quite a month, we were up at $5.81 for wheat prices. We got down to $5.17 last week and the first of this week, then we gained a few cents to get it up about $5.30.”
Looking at forward contracting for June and July 2024 delivery of winter wheat, Anderson said prices are at about $5.25.
“They have continued to go down,” Anderson said.
Although wheat prices have not been the greatest lately, Anderson said he does expect them to move back up eventually.
“I still think we are going to get back up into that $5.60-$5.70 range,” Anderson said. “If you look at the average Oklahoma price for June, July and August, it is $5.80. If you look at the stocks to use ratio for the world, for the U.S. for hard red winter wheat, they are all at average, and average stocks to use implies average prices.”
With great wheat being produced across the state, Anderson recommends produces take it easy for now, because a lot will happen between now and harvest in the markets.
This week on SUNUP:
- Josh Bushong, OSU Extension area agronomist, discusses the U.S. District Court in Arizona’s recent decision to vacate three registration labels for dicamba products.
- Wes Lee, OSU Extension Mesonet agricultural coordinator, says even though soil moisture levels are great, warmer days and no moisture mean things will start to dry out. State climatologist Gary McManus says this dry pattern could last a little longer.
- Derrell Peel, OSU Extension livestock marketing specialist, says beef prices are likely to remain high for consumers.
- Mark Johnson, OSU Extension beef cattle breeding specialist, continues his discussion on how to assist when needed during the calving season.
- Kim Anderson, OSU Extension grain marketing specialist, explains why all of Oklahoma’s grain prices have taken a hit.
- Barry Whitworth, OSU Extension veterinarian, discusses the USDA’s efforts to eradicate scrapie disease in sheep and goats.
- Finally, SUNUP finds out what makes Eddie Fields a 2023 Ferguson College of Agriculture Distinguished Alumnus.
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