As planting is wrapping up across much of the state, our attention will soon turn back to other matters on our farm. One of those is the bins full of old crop grains that haven’t been marketed yet. If you still hold on to some uncontracted grains, you are likely looking for a good price. A lot of marketers have been telling us that the magic numbers seem to have been five dollars on corn and twelve dollars on soybeans.
You have to bear in mind that the longer you wait the less chance you have of getting those higher prices. Unless there is a threat to this year’s production, many places just aren’t going to offer high prices, especially if they believe that there is still enough unmarketed grain out there.
That’s not to say a miracle couldn’t happen. There have been stranger occurrences in the marketplace in the past. Frayne Olson is an Agriculture Economist, and he believes there is still a lot more unmarketed 2023 old crop grain than we might think.
The two different “piles” he discusses can be broken down into very simple categories.
Each operation will be different in how they split those bushels up, but no matter what you have in the gambling pile, you need to be smart about how you play the markets.
Olson says one of those bumps is going on right now. Farmers need to be aware of that and be ready to make some adjustments, or at least talk to a marketing advisor.
Marketing grain always comes with a risk and profits are not guaranteed. Always work with a Marketing Advisor to find a strategy that works for you.
