Corn and soybeans in storage have a pretty price tag these days – and farmers know it. With fewer sales on the market, more farmers are holding on to on-farm stocks. Grain dealers will need to boost prices to make selling the valuable commodities more likely.
Analysts predict grain dealers will need to bid beyond their comfort level through the remainder of the summer as prices for corn and soybeans reach record highs amidst the Ukraine crisis and shipping challenges. U.S. crop supplies in storage are much lower than before the pandemic, creating a more competitive price market for cash bids.
Read more on soybean and corn storage and basis prices here.
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