Kim Anderson
By KC Sheperd | Oklahoma Ag Network
Oklahoma State University Extension grain market economist Kim Anderson, during an interview with the Oklahoma Farm Report, said 2023 wheat is “looking relatively good.”
“There are three problems with this harvest,” he said. “One: production is well below average. Two: wheat prices have fallen off about $1.25 over the last week. Three: the farmers are selling this limited amount of wheat into a volatile market.”
Anderson said $1.10 was lost within 12 trading days, and it took 37 trading days to get that price back.
“In 11 trading days, we took $1.35 off of it,” he said. “In 10 trading days, we added $1.60 back to that price, and then in 10 trading days we got back down to $7.25, where we are right now.”
The best way to sell wheat in this volatile market is to stagger it into the market and sell it over time, Anderson recommended.
“Pick a day where you want to have all your wheat sold, and set specific days you want to sell a certain percentage of it in that time,” Anderson advised.