Missed some grain market news this week? Here is all the news you need to help you make your marketing decisions. Ag Marketing IQ Storage is a cornerstone of most farmers’ marketing plans. The need to avoid pricing grain at harvest, often when markets are weak, helped create the futures industry in the 19th century. And it’s why farmers and merchandisers built enough bins and bunkers across the U.S. to hold more than 25 billion bushels of crops.
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But effective marketing doesn’t mean just filling up your on-farm facilities, if any, or sending the rest to town for a warehouse receipt. Tailoring storage decisions to suit both your market and farm’s individual characteristics can help avoid turning a bin from a profit center to a money pit. Here are some keys to consider when crafting your plan. After coming off the 22nd wettest and 20th warmest July in the 125 years on record, U.S. grain farmers were hit by something I’m guessing many had never hear of: Derecho. These straight-line winds extending across a significant portion of Iowa and other pockets of the central grain belt had initial estimated crop loss reaching 35 to 500 million bu. State and federal agencies had estimated 13 million acres (8 million corn and 5 million bean)impacted in Iowa alone, with 40 to 60 million bu. of damaged grain storage that may not be repaired by harvest. The trade continues to debate the true damage from the derecho. USDA announced late ...