This week on SUNUP, OSU Agriculture Economist Dr. John Michael Riley discusses the highs and lows of current grain and cotton markets.
He said that 73 percent of the nation’s winter wheat crop is in the ground which is right on schedule. In Oklahoma, only 55 percent of the crop is planted, which is notably behind schedule. The warmer and drier than usual conditions are to blame for Oklahoma’s delay as producers are hesitant to put the seed in the ground until they can see more favorable conditions in the forecast.
“Wheat prices have been on the decline for the past couple of weeks,” Riley said. “From late August through early October, prices had improved about ninety cents per bushel, but since the start of the month, we have dropped about forty cents off of that price at the future’s market.”
He added that the basis levels for wheat across the state are on par with where they normally are this time of year: about fifty cents behind the futures market in the eastern part of the state and about 60 to ninety cents behind in futures market in the western part of the state.
He also provided updates on the market statuses of the three major summer crops: Soybeans, Corn, and Cotton. Click the soundbar above to listen to his full report.
THIS WEEK ON SUNUP:
- Janice Herman, OSU Extension adult and older adult nutrition specialist, discusses healthier fall holiday alternatives to candy. She also explains why it’s important to be on the lookout for allergens in seasonal Halloween candy treats.
- Gary McManus, state climatologist, does a deep dive into just how bad the drought is getting throughout the state.
- SUNUP attends the new Livestock and Range Field Day and talks with Laura Goodman, OSU Extension rangeland ecology specialist.
- Amy Hagerman, OSU Extension agricultural policy specialist, says with the Farm Bill expiration, there are currently no program deadlines to keep up with.
- Derrell Peel, OSU Extension livestock marketing specialist, has a chat with Kenny Burdine, University of Kentucky Extension Livestock specialist, about the state of the cattle markets in the U.S.
- John Michael Riley, OSU agricultural economist, says after a strong rally in the late summer months, grain prices have moved in a downward trend.
- Mark Johnson, OSU Extension beef cattle breeding specialist, discusses how to calculate how much hay cattle producers will need in the winter.
- Finally, SUNUP learns what makes Ron Elliot a 2024 OSU Agricultural Champion.
