South Dakota’s expected record corn and soybean harvest this year is creating challenges for producers. SDSU Extension Risk Business Management Specialist Matt DIersen says for livestock producers it’s good to store your feed needs now and if you’re a grain producer look at what hedging opportunities you have and wait for the basis to improve.
Diersen says with the record grain being harvested, a lot of the market dynamics have changed from past years.
Diersen says while they’ve heard anecdotal information of some farmers holding their grain waiting for prices to improve, that’s tough to verify as so much of the corn is used for either ethanol or on farm feed needs. He says it’s harder to get a handle on what’s at the elevators because all that’s reported is quarterly numbers.