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Keys to successful grain marketing in early ’24

An ag economist says farmers may have some good opportunities to market their grain during the first few months of the year.

Allendale’s Greg McBride says they should be watching the corn market closely. “We do have the ability to see large swings in a short amount of time, so if you do get a 30 or 40 cent move in the corn market, that’s a pretty sizable move. You’ve got to take advantage of that from a cash perspective or even a hedging perspective.”

He tells Brownfield support from the renewable diesel market could help make soybean prices stronger. “On the bean side of things, a similar move might be 50 to 90 cents and getting yourself back up close to that $14 mark. Don’t be afraid to open up the bin doors if there’s a good opportunity or if the basis does improve for you.”

McBride says interest rates are also a major factor in grain marketing.

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