From staff report STILLWATER — Kim Anderson, grain market economist with Oklahoma State University Extension Office, gave his weekly update on the grain market.
“Out here, the farmers and ranchers are learning about raising wheat,” he said. “They are learning how to produce it, they are learning soil fertility, and they are learning about production. All of that information on production has no value unless you can convert it to economics. You have got to know what the bottom line for each alternative is, and what the probabilities are that it is going to generate profit so you can select the one with the highest profitability to keep you in business.”
Looking at 2009-2013 prices, Anderson said Oklahomans can determine when is best to sell wheat through June, July and August.
“From the high to the low, on the average, was $1.83, plus or minus 90 cents,” he said. “Losing $1.83 because you sold it at the wrong time is a big problem. What you need to do when you are selling your wheat is to stagger it over that three-month time period, because you don’t know if the highest price is going to be at the beginning or the end.”