Ahead of harvest, farmers are starting to make decisions regarding on-farm storage and capacity. It could be benefit farmers to have on-farm storage this year, but farmers should weigh the costs and benefits. A combination of the futures and cash markets is providing economic incentive for farmers to store corn and wheat. “We have adequate supplies for harvest delivery, but there is an economic incentive to also spread out a few of those sales,” said Frayne Olson, crops economist, NDSU Extension. “The expectation is we’ll have a good corn crop and there’s a good spring wheat crop coming in the North American market.” Soybeans are the opposite. “There’s a disincentive to store soybeans for a longer period of time. For harvest efficiencies, farmers may want to take soybeans and put them in on-farm storage temporarily, but the market wants soybeans sooner rather than later.” Hear more from Olson in the NDSU Extension webinar series.
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.