OSU's Kim Anderson Says Grain Prices Keep RisingThu, 04 Nov 2021 15:18:08 CDT
This week on SUNUP, Oklahoma State University Grain Marketing Specialist Kim Anderson talks about how grain prices keep going up.
In July, wheat was going for $5.96; from there the price could climb or drop up to 30 cents in a day, according to Anderson. By the middle of August, he said wheat prices were averaging around $7.17. This week, prices are hitting $7.75, he added.
Corn and soybeans follow. In August, corn prices were around $5.00, now corn prices are up to $5.65. Soybeans were around $11.30 in the middle of August, now they are up to $12.00.
“If you look at cotton on September 20, we had 89-cent cotton earlier this week,” Anderson said. “Now, we are at $1.16.”
According to Anderson, supply and demand and uncertainty are what is driving these prices up.
“Supply and demand are reflected in your projected ending stocks,” Anderson said.
Hit the LISTEN BAR below to hear more from Dr. Anderson this week on SUNUP as he talks about rising grain prices.
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