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SE SoDak | Something is up...
It started last week when the local Co-op (Central Farmers) announced that instead of 10 free days of delayed pricing, they would move to 90 days of free storage for both corn and beans. This is unprecedented in my memory. In the not too distant past they had a 3 month minimum at 5 cents a month.
Was this a reaction to NOLA port problems? Grain mostly ships to the Pacific here. Might need to fill some trains to go out west this fall, and afraid they won't get the grain?
Today the local E-plant followed suit. Free storage until December 1.
We knew the crop would be short locally. Apparently the buyers think it will be really short, and don't want to risk us welding the bin doors shut until spring.
Still, free storage for that length of time is mighty tempting...
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Free Price Later for 90 days. Hm....
