A new report from CoBank says rising interest rates are increasing the cost to store grain and will force grain elevators to widen basis to cover those costs. According to CoBank, the interest-related costs to carry grain during the 2023-2024 crop year will increase 21 percent for corn, 42 percent for soybeans and 50 percent for wheat. The projections are based on the forecasted average annual interest rate for grain merchandizers of 7.75 percent.
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