This week on SUNUP, OSU Agriculture Economist Dr. John Michael Riley discusses the highs and lows of current grain and cotton markets.
As it turns out the release of the latest WASDE caused a bit of a rollercoaster in the grain markets. “The Soybean market was elevated, and corn rallied as a result. Wheat picked up a little bit of that as well,” Riley detailed. “After that report, we tended to fall back. I don’t know it was that proverbial ‘dead cow bounce’, but instead of bouncing, it kind of fell. Also, there was a little bit of pressure from exports, but since then, we’ve seen a little bit of improvement for corn, wheat, and soybeans. Some of that is coming back to exports. There is some concern about what is going on globally, as well as some improvements in trade overall.”
In Oklahoma, despite significant rainfall, the soybean harvest is progressing nicely with 70 percent of the crop harvested, up from 59 percent last week, and on par with the five-year average.
Wheat conditions have improved greatly overall with a 37 percent good to excellent rating, up 16 percentage points from last week. Ninety-four percent of the nation’s wheat crop is planted, compared to 90 percent in Oklahoma. Eighty-four percent of the nation’s wheat has emerged, while 75 percent of Oklahoma’s is up.
Riley said that the basis is weaker for soybeans, corn, and wheat relative to normal for the time of year, so he advised producers to either hold on to their grain in hopes of an improvement in the future if they can with tax implications at the year’s end.
This week on SUNUP:
- Liberty Galvin, OSU Extension weed specialist, says cooler soil temperatures can lead to growth in winter annual weeds like Italian ryegrass.
- Brian Arnall, OSU Extension soil nutrient management specialist, discusses why nitrate levels in the soil may appear to be low due to recent rain, but could still be present. He also discusses N-Rich strips and invites viewers to the Winter Crops School on Dec. 16-18 in Stillwater.
- State climatologist Gary McManus analyzes the positive impact of recent rain on Oklahoma.
- Mark Johnson, OSU Extension beef cattle breeding specialist, explains why you may want to keep beef on the menu for Thanksgiving dinner.
- John Michael Riley, OSU agricultural economist, says the recent rain has dramatically improved Oklahoma’s wheat crop.
- SUNUP learns about new research on women and hunting conducted by OSU’s Department of Natural Resource Ecology and Management in collaboration with the Oklahoma Department of Wildlife Conservation.
- Finally, the SUNUP team and our OSU Agriculture colleagues have some fun talking about our favorite (and least favorite) Thanksgiving foods.
Oklahoma Agriculture Starts at SUNUP!
Weekly Statewide Broadcast: Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA (PBS)
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