Commodity prices for corn and soybeans are strong heading into planting season, and many farmers with remaining supplies of 2020 crop are emptying their bins.
But just how long those same bins will hold the 2021 harvest is unclear, according to Ryan Stinoski, grain purchasing representative for Mark Hershey Farms in Lebanon, Pennsylvania. He says farmers are faced with a gamble â lock in the current high prices and sell at harvest, or hold this yearâs crop in hopes that the value increases even more.
âIâve gotten more calls about forward contracting, but not necessarily guys locking in. With as tight as supplies are right now, they believe a lot could happen between now and the fall,â Stinoski said. âAny weather concern â a super dry summer â has the ability to make prices even stronger. In that regard, farmers are optimistic.â