Oklahoma State University Extension Grains Market Analyst Dr. Kim Anderson talks about what is going on in the Wheat Markets weekly on SUNUP.

For the past few weeks we have seen a rally in the wheat markets, but we also saw an 18cent hit. Dr. Anderson says the concern is about moisture and the concerns about the market, "First we had good strong export demand. The importing countries buying ahead because of the coronavirus, building up stock so that increased demand. And then we've got projected tight-ending stocks in the Black Sea area with Ukraine and Russia. US, hard red winter wheat any stocks projected to be around 350 million bushels. The average is over 500 million bushels. All US wheat stocks are tight. Then you talk about the drought. We had dry conditions, planting conditions in the United States, in Russia in Ukraine, dry in Argentina. So, if you look at the hard wheat, the breat wheat, you got relatively tight stocks, and you've got increased demand. That drove the prices up. Then it rained in Russia, rained and we got moisture in the hard red winter wheat area, you can definatly see it here in Oklahoma. And I think the market is concerned about all this buying the ahead of wheat because once we get through this coronavirus, then they are going to have excess stock, and our demand is going to go down, and prices will go down."

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