2018 was an unprecedented year in the grain markets with record crops and the trade war pressuring prices. As a result, farmers stored a large amount of grain, especially soybeans, to wait for better prices and basis levels. Now they’re looking for help on how to market those bushels for a profit. That was the focus on the Growing On 2018 meetings conducted across South Dakota by Iowa State University Farm and Ag Business Management Specialist Steven Johnson. He told farmers they need to manage crop risk, especially related to price. He advises farmers to tune out the market noise and focus on controlling the controllable factors.

He’s seeing more grain piles and bag storage than ever before. He says that may put some pressure on basis in February and March, but is should improve after that.

So, Johnson says farmers need to track the seasonality of futures and their local basis for five years to make their grain marketing decisions.

Wes Chambers with Farm Credit Services of America says they hope the series will help farmers better evaluate their finances.

The Growing On series is sponsored by Farm Credit and South Dakota Corn.