Farmers Making More Money on Grains
South Dakota farmers have been adding grain storage in an effort to save more money by selling when grain prices rebound.
Greg Trame, of Illinois based Grain Systems, says that farmers can easily make an extra 50 cents a bushel by holding grain through harvest and selling it later. He says a new grain bin can pay for itself in two or three years at that rate.
For example, a 500-acre corn crop that yields 200 bushels per acre could sell for $3.40 at harvest or for $3.85 in the future, a difference of $45,000.
Farmers have been building bigger grain bins as a result of the massive yields hauled in at harvest.
They've also been upgrading their grain handling equipment to keep up with faster combines.
Source: Tri-State Neighbor