Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
    
   
   
   
   
   

Agricultural News


Anderson Says Commodity Prices Will Lack Direction During Holidays

Wed, 26 Nov 2014 12:28:47 CST

Anderson Says Commodity Prices Will Lack Direction During Holidays
With the holiday season approaching commodity prices are moving sideways across the board for wheat, corn and soybeans. Oklahoma State University Grain Marketing Specialist Kim Anderson said that trend will stay through the start of the new year.


In looking at the price trends on this weekend's edition of SUNUP, Anderson said in going back to June the Kansas City wheat price was around $6.90. By July wheat prices fell to $6.21, by August prices were at $6 and in September prices were at $5.56. Anderson said prices have pretty much wallered with October at $5.52 and November at $5.76.


SUNUP host Lyndall Stout also asks Anderson about the market trend for both corn and soybeans. Anderson said corn prices went from $3.46 in August to $3.25 in September, in October prices were at $3.30 and have corn prices have rallied up to $3.60 in November. Soybean prices in October were at $8.75 in October and have increased to $9.53 for current prices.


Looking ahead, Anderson looks for wheat prices on the futures market to continue to bounce around. Anderson said wheat is in a sideways pattern. The March Kansas City contract is trading between $6 and $6.20 with support at $6 and resistance at $6.20. He said if prices go below six dollars a bushel, prices will continue down to $5.80 and could trend downward to $5.50. If prices can break through the resistance level at $6.20, then $6.60 would be the next target. In terms of marketing the 2014 wheat crop, he said farmers should have their final third of the crop to market and he recommends farmers look at pricing their 2015 wheat crop starting with 10 or 20 percent.


Currently corn is trading between $3.70 and $4 a bushel. Anderson if the prices breaks $3.70, there is support at $3.60 and $3.48. If prices break $4, then the next target is $4.10, then $4.50 a bushel.


Soybeans are trading between $10 a bushel and and $10.80. Anderson said if prices move lower there is support at $9.50 and $9.12. If prices move higher there is upward resistance at around $11.20.


Looking at the price outlook, Anderson said prices will continue wallering around through the Thanksgiving and Christmas holidays. He said there will be little rallies here and there but overall prices will be sideways.


"Don't expect much over the holiday period," Anderson said. " Really when we get into January 1 and after that prices will establish an up or down trend."


Catch SUNUP on-line through the OSU website by clicking here or through YouTube by clicking here.


Catch SUNUP: Saturdays at 7:30 a.m. & Sundays at 6 a.m. on OETA-TV


SUNUP can be seen on OETA across the state of Oklahoma- Dr. Anderson's segment on the markets is one of the standard features of this weekly show from Oklahoma State University. Catch SUNUP on-line through the OSU website by clicking here or through YouTube by clicking here.


   

   

SUNUP host Lyndall Stout interview Kim Anderson
right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • US Beef Cattle Industry Tells Secretary Sonny Perdue- Help Our Producers NOW  Sun, 29 Mar 2020 11:09:52 CDT
  • USDA Secretary Perdue Believes the CARES Act Provides Much Needed Relief for Farmers and Ranchers  Sun, 29 Mar 2020 09:40:37 CDT
  • District Court Affirms State Beef Councils Are a Legal Part of the Beef Checkoff- Dismisses Litigation Brought by R-Calf USA  Fri, 27 Mar 2020 22:44:36 CDT
  • Friday, March 27, 2020 Market Wrap-Up with Justin Lewis  Fri, 27 Mar 2020 15:18:59 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Friday, March 27, 2020  Fri, 27 Mar 2020 15:15:49 CDT
  • Agriculture Retailers Association Commends Congress on CARES Act Passage  Fri, 27 Mar 2020 13:57:47 CDT
  • Lucas Applauds House Passage of Support For America’s Families, Workers, and Businesses  Fri, 27 Mar 2020 13:54:47 CDT
  • State Department Clears the Way for Agriculture Workforce   Fri, 27 Mar 2020 11:18:24 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma City Farm Show KIS FUTURES, INC. Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment AFR Insurance Stillwater Milling Oklahoma Cattlemen's Association

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA TPAOO TPAOO

    Search OklahomaFarmReport.com


       
       
    © 2008-2020 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.