“Do farmers want to dust it in, or do they want to wait on rain,” Anderson said. When we can’t get our wheat planted and if we can’t get it raised it is impacting prices.”Īnderson said the drought is also impacting planting decisions for farmers. “Stocks are relatively tight, both in the United States- not quite as tight around the world, but there is tight stocks. “On prices, there is a lot of risk for production,” Anderson said. The drought, Anderson said, is having a relatively large impact on the prices in the crop markets and production. Take about 3 cents off that gets it about 75 cents in southwestern Oklahoma.” “It is down about 7 cents from around 85 to about 78 cents- that is on the futures market. “Cotton- that is the one commodity that has taken a beating,” Anderson said. Soybeans are down about 35 cents this week to $13.25.
“You look at wheat prices over the last two weeks we have lost about 40 cents in the wheat prices from around $9.80- $9.85 cents down to 9 dollars.”Īnderson said the market has taken 20 cents off of corn in the last week, sending it down to around $7.50. “It looks quiet, but there is quite a bit happening,” Anderson said. During this week's edition, Anderson talks about the latest on commodity prices and factors impacting the markets. This Week on SUNUP is Oklahoma State University Extension grain market economist Kim Anderson.
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