Kim Anderson Explains Factors Supporting Lower Wheat Prices

Listen to Kim Anderson talk about the latest in the crop 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 in the crop markets.

“It is not news that wheat prices have been in a downtrend since late July when prices were around $8.40 in northern Oklahoma,” Anderson said. “Prices trended down into early November, hit $6, then moved by December 1st down to $5.40. They went back up over $6 for just a while by mid December, and they have been going down ever since until early this week when wheat prices hit $5.”

Now, Anderson said wheat prices are up around $5.40 to $5.50.

“It looks like they have been trading between that $5 and $5.50,” Anderson said. “We will have to break the $5.50 for it to move up. I would be surprised if it did.”

With stocks to use ratios for hard red winter wheat at an average, Anderson said many are wondering why wheat prices have been trending down.

“If you will look at exports, it might tell us something about what is going on in these markets,” Anderson said.

Exports are projected to be below average, Anderson said, and much of this is impacted by the Black Sea area.

This week on SUNUP:  

  • Dave Lalman, OSU Extension beef cattle specialist, says pastures are beginning to green up across the state with the early arrival of spring temperatures. Although producers are itching to get cattle out to graze, Dr. Lalman says that might not be the best idea, at least for now. 
  • Wes Lee, OSU Extension Mesonet agricultural coordinator, explains why a hard freeze could be detrimental to fruiting trees. State climatologist Gary McManus says flash drought has arrived in some parts of the state. 
  • Meriem Aoun, OSU Extension small grains pathologist, discusses the fact sheet about the wheat disease Septoria nodorum blotch, which is becoming a challenge for Oklahoma wheat producers. 
  • Kim Anderson, OSU Extension grain marketing specialist, explains how wheat exports impact prices here in the U.S.
  • Finally, Darren Scott, OSU food scientist, explains the importance of freezing our food.

Watch SUNUP:

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

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