This week on SUNUP, OSU Agriculture Economist Dr. John Michael Riley discusses the highs and lows of current grain and cotton markets.
In the time since the grain and cotton markets were last discussed, a new WASDE report was published, and although it held no big surprises, an inevitable bounce in the marketplace was still felt.
“That is why I have always said and continue to say, ‘If you can stay out of making any pricing decisions when that report is in the midst of being released, try to do your best to do that.’”
According to Riley, the market expects the recent extremely cold temperatures to impact wheat yields. “We started getting that cold weather about the time that the WASDE report was released, but since then, the market really rallied for a couple of days. A lot of that had to do with the winter freeze, but we are also getting a lot of positive news about exports.”
Wheat exports are on pace with normal but above expectations.
Corn prices have experienced a strong push and are currently much stronger than soybean prices since late January or early February.
“As farmers are making their decisions, I think that we are possibly going to see some of that strength in the corn price play a role in our acreage numbers. In regards to acreage, some early numbers from CoBank say that corn acreage should come up about four percent, and the loss there is going to be soybean acres, so I think we are seeing that strength in the corn price play out there.”
According to CoBank’s early numbers as well as numbers from the National Cotton Council, cotton acreage will be down this year.
Riley went on to give his advice to producers, which centers on being mindful of expenses. Click the listen bar at the top of the page to listen to the complete audio.
This week on SUNUP:
- Amanda De Oliveira Silva, OSU Extension grain marketing specialist, says the recent cold weather has kept much of the wheat crop from reaching first hollow stem, but snow helped insulate many grain-only productions from freeze damage. Dr. Silva also shares her research on wheat grazing study.
- Barry Whitworth, OSU Extension state veterinarian, has information when it comes to safety when buying chickens and eggs with avian influenza impacting the poultry industry.
- State climatologist Gary McManus says rain chances return in a few days, but a dry pattern is likely this spring.
- John Michael Riley, OSU agricultural economist, explains how the markets reacted to the recent cold snap.
- Mark Johnson, OSU Extension beef cattle breeding specialist, discusses calving in extreme temperatures.
- Finally, Ty Gregson, OSU Extension assistant opioid and substance misuse specialist, explains how seasonal depression can set in and introduces OSU Extension tools available to combat the issue.
