Oklahoma's Latest Farm
And Ranch News
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Friday, September 1, 2023
We Celebrate Labor Day This Coming Monday- Our Email Report Returns Tuesday 9/5/23
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Kim Anderson Says Oklahoma Wheat Prices Could Continue to Downtrend |
Below is an analysis of this week's wheat markets from Oklahoma State University Extension grain market economist, Dr. Kim Anderson:
The market has knocked another 35 to 40 cents off the price of wheat. The price of wheat is $6.56 in Pond Creek, $6.11 in Altus and $6.21 in Perryton, Texas. Wheat may be forward contracted for 2024 harvest delivery for $6.52 in Pond Creek, $6.27 in Altus and $6.67 in Perryton, Texas.
Egypt bought 4.4 million bushels of wheat from Romania (rather than Russia) for $7.10 (FOB-Free on-board vessel). The per bushel price delivered to Egypt (C&F-Cost and Freight) was $7.50. This implies that it costs about 40 cents per bushel to ship wheat from Romania (Black Sea port) to Egypt.
The cost of ocean freight from the Texas Gulf to Egypt is roughly double the ocean freight cost from the Black Sea to Egypt. This implies that for U.S. wheat to be competitive with Romanian wheat, the Texas gulf price loaded on a vessel would be $6.20 ($7.10 – $0.80).
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We invite you to listen to us on great radio stations across the region on the Radio Oklahoma Ag Network weekdays-
if you missed this morning's Farm News - or you are in an area where you can't hear it- click below for this morning's Farm news from Ron Hays and KC Sheperd on RON.
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Sponsor Spotlight
The Oklahoma Cattlemen's Association is the trusted voice of the Oklahoma Cattle Industry. With headquarters in Oklahoma City, the OCA has a regular presence at the State Capitol to protect and defend the interests of cattlemen and cattlewomen.
Their Vision Statement explains the highest priority of the organization- "Leadership that serves, strengthens and advocates for the Oklahoma cattle industry."
To learn more about the OCA and how you can be a part of this forward-looking group of cattle producers, click here for their website. For more information- call 405-235-4391.
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Rural Oklahoma is full of some of the greatest success stories throughout the entire state and is a big reason why Oklahoma is on track to become a top 10 state.
The Road to Rural Prosperity dives into these stories, bringing you stories covering rural life, agriculture, energy, healthcare, tourism, and politics affecting rural America.
The Road to Rural Prosperity is here to tell stories about rural America, for rural America.
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Cattle Industry Leader Bob Drake sits down and talks with Ron Hays about his lifetime of service in the cattle business. Drake has served as the President of the Oklahoma Cattlemen's Association, the last President of the old National Cattlemen's Association and Vice President of the Oklahoma Farm Bureau.
He loves politics and being a change agent for the cattle producer back up at the fork of the creek. Drake had a front row seat as the Beef Checkoff was approved by cattle producers and he believes it's way past time to find a way to get a second dollar at the national level.
Search for Road to Rural Prosperity and subscribe on your favorite Podcast platform.
To hear this podcast, you can click here or tap below:
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Our thanks to Midwest Farms Shows, P & K Equipment, Oklahoma Farm Bureau, Oklahoma Ag Mediation Program, Great Plains Kubota, Stillwater Milling Company, National Livestock Credit Corporation, Oklahoma Beef Council, Oklahoma AgCredit, Union Mutual Insurance, the Oklahoma Cattlemens Association, and KIS Futures for their support of our daily Farm News Update.
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God Bless!
Reach Out To Us:
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Tim West
President/General Manager
Rural Oklahoma Networks
405-317-6361
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Mike Henderson
Director of Sales
405-615-4922
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KC Sheperd
Farm Director
Radio Oklahoma Ag Network
405-443-5717
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Ron Hays
Senior Farm/Ranch Broadcaster
Radio Oklahoma Ag Network
405.473.6144
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