As harvest wraps up, farmers will be storing large amounts of unpriced corn and soybeans. Expect most farm cash flows to remain tight despite access to the new Marketing Facilitation Program (MFP) payments. Storing these unpriced bushels likely requires an understanding of your own cash flow needs along with a written crop marketing plan. That plan should consider reasonable price and time objectives, local basis, futures carry and cost of ownership for those stored bushels.
Learn to use a variety of crop marketing tools and compare these strategies to just storing bushels unpriced. Attend one of the 3 Central Iowa Ag Marketing Clubs will that host meetings in mid-November all beginning at 6:30 p.m. and doors opening at 6 p.m.
- Tuesday, Nov. 13 – Lynnville, First State Bank, 413 East St.
- Wednesday, Nov. 14 – Conrad, Mid Iowa Co-op Grain Merchandising Office, 209 N. Lincoln St.
- Thursday, Nov. 15 – Ogden Community Center, 114 SW 8th St.
The featured speakers will be Steve Johnson, ISU Extension Farm Management Specialist and Ed Kordick, Commodity Services Manager with the Iowa Farm Bureau Federation. They will team teach on the topic “Does Storing Unpriced Crops Really Pay.” Participants will review the importance of understanding basis, carry and comparing the cost of ownership using Central Iowa trends for the 2015, 2016 and 2017 crops.
Club meetings are open to the public and there may be a small fee that can be paid at the door. For further information, please contact the Poweshiek County Extension Office at (641) 623-5188, the Grundy County Extension Office at (319) 824-6979 or the Boone County Extension Office at (515) 432-3882.