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 grain markets.
“I don’t think the wheat market knows where it wants to go,” Anderson said. “It is just going up and it is just going down.”
Looking back into early May, Anderson said harvest delivery for wheat was at $6.95, then it moved up to $8.54. In June, Anderson said prices have been between $7.35 and $8.15, averaging at $7.71.
“You have got world production this year projected to be 29.4 billion bushels,” Anderson said. “That is a new record. That is better than last year’s record of 29 billion.”
World ending stocks are sitting at 9.95 billion, which is up from last year’s 9.8 billion, but still below average.
“U.S. total wheat production is at 1.67 billion bushels,” Anderson said. “This is the third year in a row that U.S. wheat stocks have been between 1.6 and 1.7 billion. The average is about 1.8, so still below average.”
There is adequate wheat around the world, Anderson said, but tight stocks in the U.S.
This Week on SUNUP:
- SUNUP meets a sixth-generation farming family in Noble County as they fight to get ahead of the rain to harvest their wheat.
- Mike Schulte, Oklahoma Wheat Commission executive director, discusses the overall wheat harvest progress in the state.
- Wes Lee, OSU Extension Mesonet agricultural coordinator, shows just how hot the past few days have been. State climatologist Gary McManus discusses the topsoil conditions in the state.
- Kim Anderson, OSU Extension grain marketing specialist, updates the latest movements in the crop markets.
- Mark Johnson, OSU Extension beef cattle breeding specialist, gives a history lesson on the cattle industry.
- Finally, Paul Vining, Oklahoma Quality Beef Network coordinator, explains how much or how little moisture should be in your hay.
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Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA (PBS)
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