Market calling to store now
An ag economist says grain storage decisions should be reevaluated after the first of the year.
“I’m expecting prices to stay about where they are through the 2021/2022 marketing year for both corn and soybeans—I think there is slightly more downside risk.”
Michigan State University professor emeritus Jim Hilker tells Brownfield South America’s harvest could impact prices enough farmers might want to rework how much of their crop they choose to store longer-term.
“Prices, can they go up? Yes, but locking in 10-20 percent of your crop with a little bit of a burst in the thing I think may well pay off,” he says.
Hilker says as input costs have risen, even massively for corn, prices are still forecasting above the cost of production for farmers into the 2022 season.
Brownfield interviewed Hilker during the recent Michigan Ag Credit Conference.