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.
Anderson said, “Let’s go back to June 1. That’s the price that I use as my base market price. In Pond Creek, Oklahoma, that price was $6.70. Since June 1, we have seen that price fall $1.49 down to around $5.25. Now if you go back to around ‘09 to ’23, your average harvest price was $5.80 and the average price move in June, July, and August – the harvest months – has been $1.80. So if you look at what’s been going on in the market, prices have been going down. How low can they go? My first estimate is $4.90.”
Russia’s harvest appears to be fluctuating depending on the reporting source, but overall, the world market shows adequate wheat production and below-average prices.
This week on SUNUP:
- Amy Hagerman, OSU Extension agricultural policy specialist, discusses updates to the Farm Bill legislation.
- Wes Lee, OSU Extension Mesonet agricultural coordinator, says extreme heat will return this Saturday. State climatologist Gary McManus updates the latest drought monitor map.
- Derrell Peel, OSU Extension livestock marketing specialist, explains why beef production is not slowing down as quickly as expected.
- SUNUP previews the upcoming Growing Hops & Grapes in Oklahoma field day.
- Janice Hermann, OSU Extension nutrition specialist, says with the extreme heat on its way back to the state, it’s important to stay hydrated.
- Kim Anderson, OSU Extension grain marketing specialist, discusses the volatility in the crop markets and explains why it’s still an issue.
- Finally, Mark Johnson, OSU Extension beef cattle breeding specialist, explains why a return on investment should be factored into all aspects of the cattle industry.
