This Week on SUNUP is Oklahoma State University Extension grain market economist Kim Anderson. During this week’s edition, Anderson discusses prices in the grain markets.
Now that the impacts of COVID-19 and the Russian and Ukraine war are out of the picture, Anderson said the prices for wheat are back to normal- now at $5.80. Ending stocks are average as well, he added.
“Right now, you can forward contract in Pond Creek for $5.30,” Anderson said. “You can forward contract in southern Oklahoma for 40 cents less than that. They only put about a 15-cent risk factor in there, so that gets you up around $5.40 or $5.45.”
Corn prices are right at $4.00 now, Anderson said, up from the previous price of $3.85. Anderson said corn can be forward contracted for $4.40 in northern Oklahoma and close to $4.30 in the Weatherford area.
Anderson said the average ending stocks for corn is currently at 11.6 percent and is projected to be 17 percent.
“You can expect below-average prices, and that is what they are offering right now,” Anderson said.
This Week on SUNUP:
- David Lalman and Rosslyn Biggs, OSU Extension beef cattle specialists, discuss the aftermath of Oklahoma’s wildfires. They offer guidance on feeding livestock that have lost forage sources, caring for wounded animals, animal wellbeing, the importance of documenting loss, and managing farm stress. If you or someone you know is experiencing extreme stress, contact Oklahoma’s Mental Health Helpline anytime by calling or texting 9-8-8.
- Amy Hagerman, OSU Extension ag policy specialist, has a brief overview of disaster relief programs.
- Wes Lee, OSU Extension Mesonet agricultural coordinator, discusses the recent cold temperatures. State Climatologist Gary McManus analyzes the drought monitor and rainfall accumulation.
- Mark Johnson, OSU Extension beef cattle breeding specialist, helps producers decide whether to keep or cull replacement heifers.
- Kim Anderson, OSU Extension grain marketing specialist, looks back at the average wheat prices over the past 15 years. He also makes projections for 2024 harvested wheat and has information for producers planning to plant summer crops.
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