News

Illinois grain storage levels elevated

The director of the Illinois Department of Agriculture says there’s more grain in storage in the state than usual.

Jerry Costello tells Brownfield, “We’re exceedingly high compared to what our norms are.”  He says, “We had the highest amount of stored grain of any state in the United States. Normally we’re a little over 15%. We were a little over 17% of stored grain.”

He says it means many farmers are likely holding out for higher prices.

“But if we’re still in this position in the fall, it’s going to be very interesting because farmers are going to be forced to either sell what they have stored, or forced to sell what they’re actually harvesting,” he says.

Costello says if grain markets fail to rally over the summer, it could mean storage concerns for farmers this fall.

AUDIO: Jerry Costello – Illinois Ag Director