OSU's Kim Anderson Looks at Grain Futures Prices in the Last MonthThu, 21 Oct 2021 16:49:40 CDT
This week on SUNUP, Oklahoma State University Grain Marketing Specialist Kim Anderson gives an overview of what grain futures markets have been doing for the past month.
Starting with wheat, Anderson said prices bottomed out in early Sept. around $6.60, by Oct. 1 prices were up to $7.25. Since then, he said prices look to be moving sideways.
A month ago, corn prices were around $5.51 but began to fall on Sept. 8. Since then, he said prices have mostly been moving sideways, between $4.95 and $5.27.
According to Anderson, soybeans prices are independent of wheat and corn, increasing into Sept. and peaking Sept. 1 at $12.67. Since then, they have traded between $12.67 and $11.30, hitting the low on Oct. 13, he added.
“Right now, soybeans are technically still on a downtrend, but it looks like they are trying establish a sideways pattern,” Anderson said.
Hit the LISTEN BAR below to hear more from Dr. Anderson this week on SUNUP as he goes the reasons behind the market movement.
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