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, as wheat harvest is about 90 days away.
Between 2009 and current prices, Anderson said wheat prices have averaged about $5.84. The lowest price was in July of 2016 at $2.55, and the peak was in 2022.
“Wheat prices have came back down and crossed that magic six-dollar line,” Anderson said. “It tends to trend above or below six dollars. Right now, with wheat prices down around five dollars, it looks like we may be starting a price pattern down in the four dollar to six dollar price range.”
Looking at stocks to use ratios around the world, Anderson said they are close to average.
“U.S. stocks to use is a little below average so you would expect prices to be up around that $5.84, however, when you look into ’24, right now, current projections are for U.S. stocks to use ratio for wheat to go to average or above average.”
With crop conditions significantly better than last year, Anderson said he expects to see higher production, which may support slightly lower wheat prices.
This week on SUNUP:
- Doug Hamilton, OSU Extension waste management specialist, talks with SUNUP Host Lyndall Stout about proper livestock carcass disposal in the aftermath of wildfires in Oklahoma and Texas.
- Wes Lee, OSU Extension Mesonet agricultural coordinator, discusses the long-term temperature averages. State climatologist Gary McManus has percent of normal rainfall comparisons and the latest drought monitor.
- Amy Hagerman, OSU Extension agricultural policy specialist, explains what to expect when applying for disaster assistance. She also offers context for making decisions about the Farm Service Agency programs Agriculture Risk (ARC) and Price Loss Coverage (PLC) in advance of the March 15 signup deadlines.
- Derrell Peel, OSU Extension livestock marketing specialist, says the potential for more record prices will continue. He analyzes the resulting challenges for producers and how it all translates to consumers.
- Mark Johnson, OSU Extension beef cattle breeding specialist, explains why calving season is a great time to analyze your herd and make key decisions.
- Kim Anderson, OSU Extension grain marketing specialist, covers crop prices and the latest stocks-to-use ratio measurements.
- Finally, we learn why Terry Tippens is a distinguished alumnus in the OSU Ferguson College of Agriculture.
Watch SUNUP:
Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA (PBS)
YouTube.com/SUNUPtv
