This week on SUNUP is Oklahoma State University Extension grain market economist Kim Anderson. During this week’s edition, Anderson talks about the latest in the crop markets.
The world wheat market is around 40 to 45 percent complete at this time which speaks for strong production outcomes. Wheat prices could easily see an increase in the coming months. Russia’s wheat harvest is down to 2.9 billion bushels from January/February’s 3.4 billion which helps out on wheat prices.
Anderson said, “We came in June 1 around $6.65, and we’ve peaked out around $6.85 in mid-May. Now, at the end of June, we are down to around $5.35, so they’ve gone down. The average harvest price for Oklahoma is $5.85. That is June, July, and August. We’ve averaged that since 2009.”
Anderson advises wheat producers to have a mechanical strategy and move it in the market over time.
While India harvested a record crop this year, reports indicate a supply problem with wheat. Norway plans to build stocks. Wheat harvest pressure hasn’t ended, yet, but market indicators should mean increased wheat prices.
This week on SUNUP:
- Amy Hagerman, OSU Extension agricultural policy specialist, discusses the 2022 Ag Census.
- Wes Lee, OSU Extension Mesonet agricultural coordinator, shows how the lack of rainfall is impacting soil moisture. State climatologist Gary McManus says drought is expanding.
- Ryan DeSantis, OSU Extension forestry specialist, says though firewood for our homes may be the furthest thing from our minds during the summer, now is the best time to prepare for winter.
- Darren Scott, OSU food scientist, explains the usefulness of scales in the kitchen.
- Kim Anderson, OSU Extension grain marketing specialist, discusses the recent, strange movements in the crop markets.
- Mark Johnson, OSU Extension beef cattle breeding specialist, offers summer management tips for producers.
- Finally, SUNUP travels to the Oklahoma Capitol to see how a group of students from Hollis are learning how to be leaders in their communities.
Oklahoma Agriculture Starts at SUNUP!
Weekly Statewide Broadcast: Saturday at 7:30 a.m. & Sunday at 6 a.m. on OETA (PBS)
Anytime: YouTube.com/SUNUPtv
