Posted 9/14/2021 12:48 (#9219932) Subject: Grain Bin inflation
IL near StL
I know this isn't news that grain bin prices are high but just got off the phone with my bin guy. We are in the "would be nice to have another bin before next year and it doesn't cost any thing to price one" mode. Told my bin guy to give me a ring when they started offering their better deals in the fall a few weeks ago. He called today and told me to sit down. I had him price a twin to one that we built in the summer of '18. That one was $64,000 for the bin, concrete and all of the labor, today's price and it's only good for today is $107,000. He said that same bin a year ago would have been around $80,000. Higher prices aren't really news I guess but he said something interesting that caught my attention. He told me that the bin company is sitting on a bunch of steel and they have another round of steel coming in January but don't really have many bins sold to cover that steel and it kind of sounded to me like they are getting a little nervous about keeping their factory moving. My man acted like the bin company wants them to get out and push bin sales but also sounds like people are starting to balk at the cost. I just thought that was an interesting conversation, oh and BTW, probably won't build a new bin for next year, maybe I'm just frugal.