STILLWATER – Kim Anderson, Oklahoma State University Extension’s grain market analyst, last week reported a return to grain price stability.
With the remnants of COVID-19 and geopolitical tensions between Russian and Ukraine fading, wheat prices have returned to a normalized $5.80, Anderson says.
Additionally, Anderson offered insights into forward contracting opportunities within Oklahoma. “Right now, you can forward contract in Pond Creek for $5.30,” Anderson said. “You can forward
contract in southern Oklahoma for 40 cents less than that. They only put about a 15-cent risk factor in there, so that gets you up around $5.40 or $5.45.”
Corn prices have risen to around $4.00, Anderson said, up from $3.85. He added that corn can be forward contracted at $4.40 in northern Oklahoma and $4.30 near Weatherford. The average ending stocks for corn, says Anderson, is around 11.6% and is projected to be around 17%. “You can expect below-average prices, and that is what they are offering right now,” Anderson said.