High Wheat Prices Raise Corn, Soybeans and Milo, Says OSU's Kim AndersonThu, 19 Aug 2021 14:38:54 CDT
Last week, Dr. Kim Anderson, grain marketing specialist at Oklahoma State University, called the August WASDE report bullish for wheat. Sure enough, wheat prices shot up about 30 cents this week, with prices in Medford, Oklahoma reaching about $7.20, before they dropped back down to about $6.90, according to Anderson.
“That wheat shot out of the chute like a scolded dog!” Anderson said.
Wheat market volatility is being fueled by lower-than-projected harvest estimations, Anderson said. Earlier this month, Anderson talked with Ron Hays about how to sell wheat when markets are volatile, to read or listen to that conversation, click or tap here.
With wheat, corn prices rose slightly, but soybeans stayed about the same, Anderson said. Forward-contract corn prices are around $5.50, milo prices are around $5.85 and soybeans prices are around $12.90, but until harvest begins there’s no telling what the size of the crop will be, he said.
In all, Anderson said these prices are great. Historically, average wheat prices fall around $5.20, $3.75 to $4 for corn and between $9.50 and $9.75 for soybeans.
Click or tap the LISTEN BAR below to hear more from Dr. Kim Anderson.
This week on SUNUP, Kelly Seuhs has information for producers who want to harvest one more cutting of alfalfa before the fall.
In the Mesonet weather report, Wes Lee breaks down how long-term temperature averages affect wheat planting. Gary McManus says the recent rains have not had much of an impact on the drought picture.
Kim Anderson explains why Oklahoma producers should stagger their grain in the market given its volatility.
In Cow-Calf Corner, Mark Johnson discusses the process of fence line weaning.
Dwayne Elmore says hunters need to be aware of the possibility of aflatoxins in the grain they plan to use for bait, this upcoming hunting season.
In Vet Scripts, a nearby Texas county has recently reported cases of anthrax in its cattle herds. Barry Whitworth says there are no cases in the state currently, but producers need to be cautious.
In Extension Explains, Marley Beem discusses the vital role ponds play in agriculture.
Finally, Dr. Cynda Clary, associate dean for the Ferguson College of Agriculture, talks about new academic trends and fields of study as the fall semester gets underway.
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