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East of Broken Bow | You must live in a basis area similar to me. I have had internet acquaintances continually question why I would want bins, just contract my crops ahead of time for the price I want. The problem is that 'here' you still take it in the shorts for harvest delivery.
Here is a specific example: I was contracting last year's crop, and on the day I was contracting it, I could have locked in $4.55 for harvest delivery, or $4.86 for spring/summer delivery. I'm not talking the highs or lows, but the actual delivered prices I could contract for at the exact same time. It is very easy on a typical year to gain 35+ cents a year on basis alone just putting corn in a bin. Add to that I am a one man show, and I can pick 2X as much corn in a day going to my bins as opposed to the elevator - 3X as much when there are lines of any sort.
My advice would be build 2X as much bin space as you need now, as time goes by you will need it. When I built my last bin, my dad asked if I thought I was ever going to fill it. 10 years later and I was running out of room again. | |
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New bin.
