Kim Anderson says Commodity Markets Continue to Trade in a Narrow Range

Listen to Kim Anderson talk about the crop markets on OSU’s SUNUP.

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. For all practical purposes, Anderson said prices are still trading in a relatively narrow range.

Wheat prices have been trading sideways, Anderson said, from $5.00 to $5.50 in the last couple of weeks. Anderson said wheat prices may go up in the next few months.

“Corn was trading at a $4.40 to $4.50 range,” Anderson said. “It widened that out a couple of weeks ago from $4.35 to $4.55, but that is still a narrow range, and sideways prices just like wheat.”

Soybeans are trading in an especially narrow range, Anderson said, from $11.00 to $11.25.

“Something is going to happen to get these prices moving again,” Anderson said.

Regarding the wheat crop conditions, Anderson said things are looking much better than last year, with slightly fewer acres planted. Anderson added that the 90-day weather forecast is calling for average to above-average temperatures.

“There is some talk in northwestern Oklahoma and western Kansas about it getting dry and the wheat under stress,” Anderson said. “One report said we were switching from El Nino to El Nina, switching from wet to dry, and some people are concerned about that.”

This week on SUNUP: 

  • Eric DeVuyst, OSU Extension farm and ranch management specialist, discusses whether replacement heifers will be profitable with high cattle prices.
  • Wes Lee, OSU Extension Mesonet agricultural coordinator, explains why the wind, coupled with humidity, can impact wildfire conditions. State climatologist Gary McManus says drought is expanding and rain keeps missing the places that need it the most. 
  • Kim Anderson, OSU Extension grain marketing specialist, explains what time of the year is best to sell wheat. 
  • Finally, we head to the recent 2024 OKC Farm Show to see what brings folks back every year. 

Watch SUNUP:

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

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