Tight storage and extra bushels add pressure to crop prices
Iowa’s crop storage is extremely tight as record 2016 corn and soybean crops pile into bins still holding 2015-harvested corn and soybeans.
The most recent U.S. Department of Agriculture weekly crop progress report, issued Oct. 31, rated Iowa’s on-farm storage at 33 percent short with off-farm storage at 25 percent short.
That tight storage situation is, at least temporarily, depressing the cash prices that farmers can earn for the bushels they harvest this fall, an Iowa State University (ISU) Extension farm management specialist said last week.
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