News

Minnesota farmer uses corn rally to empty bins, add new-crop sales

A central Minnesota farmer has been taking advantage of recent strength in the corn market.

Nick Peterson of St. Cloud says there are opportunities to market both old and new crop.

“I’m almost worried that we’re a little far sold on new crop. We were able to kind of utilize this (rally) to empty the bins out just in the last few days honestly. We were getting right down there and waiting for a reason to do the last five, ten loads and finish hauling, and that was kind of it.”

He tells Brownfield marketing will be key as input costs remain elevated.

“We were pretty excited to put a few more new crop contracts on just for some hedge-to-arrive stuff for December that we’ll probably carry out. It’s nice to see, just to add a little bit of positivity.”

Peterson, who serves as secretary of the Minnesota Corn Growers Association, says drought might reduce yields in his area, which could improve local basis.