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Agricultural News

Dr. Kim Anderson Says Wheat Prices are Good and Forward Contracting might be a Good Option for Producers

Thu, 28 Jan 2021 17:20:21 CST

Dr. Kim Anderson Says Wheat Prices are Good and Forward Contracting might be a Good Option for Producers Oklahoma State University Extension Grains Market Analyst Dr. Kim Anderson talks about what is going on in the Wheat Markets weekly on SUNUP.

This week Dr. Anderson says market prices this week are relatively good, "If you look at that Panhandle and Snyder you got about $6.15 for forward contracted wheat for harvest delivery. You come over to Medford its at $6.30, and that basis is a minus 15 at Medford, and a minus 30 at the Panhandle and Snyder. You go back last year, you had the Snyder price at $4.55, you had the Panhandle Price at $4.65 and Medford price at $4.75. We got about $1.50 or better price this year. One other thing I need to point out is you got a minus 15 and a minus 30 basis now for the 21 crop. You had a minus 25 or minus 35 and a minus 45 basis last year, so stronger basis, better prices."

To hear more from Dr. Anderson, click or tap below.

This week on SUNUP, we travel to Logan County to see how CARES Act funding is helping local meat processors through the pandemic.

-Then, Josh Lofton tells us how interseeding canola into wheat can help control weeds in the field.

-In the Mesonet explains how snow impacted soil moisture. Gary McManus shows us how the drought monitor looks after the recent rains.

-Alex Rocateli says planting oats as a rescue forage crop is a good option for producers if their wheat crop has failed.

-In Cow-Calf Corner, Glenn Selk explains Stage 2 of calving, and tells us how to ensure newborn calves get enough oxygen.

-Derrell Peel offers a beef market update and explains why he expects cautious optimism in the latter half of this year.

-Finally, Kim Anderson says wheat prices are good and forward contracting might be a good option for producers.

Saturday at 7:30 a.m.
Sunday at 6 a.m. on OETA-TV



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