From staff reports STILLWATER – Oklahoma State University Extension grain market economist Kim Anderson recently told SUNUP that crop prices are still trading in a relatively narrow range.
Wheat prices have been trading sideways, Anderson said, from $5.00 to $5.50 in the last couple weeks. He predicts that prices may go up in a few months.
“Corn was trading at a $4.40 to $4.50 range,” Anderson said. “It widened that out a couple of weeks ago from $4.35 to $4.55, but that is still a narrow range, and sideways prices just like wheat.”
Anderson noted that soybeans are trading in an especially narrow range, from $11.00 to $11.25.
“Something is going to happen to get these prices moving again,” he said, adding that wheat crop conditions are looking much better this year, with slightly fewer acres planted, adding that the 90-day weather forecast is calling for average to above-average temperatures.
“There is some talk in northwestern Oklahoma and western Kansas about it getting dry and the wheat under stress,” Anderson said. “One report said we were switching from El Niño to El Niña, switching from wet to dry, and some people are concerned about that.”
SUNUP, an agricultural program produced by Oklahoma State University, is televised at 7:30 a.m. every Saturday and 6 a.m. Sunday on OETA (Public Broadcasting System) and is also available at www.youtube.com/ SUNUPtv.