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Nebraska farmer wishes he had more grain to sell
A Nebraska farmer says he’s learning his lesson watching the runup in commodity prices. “I guess I need to come back to college to learn how to market grain a little better,” Jason Penke says.
He farms near the northeastern town of Craig. “I don’t have a whole let left to sell but it’s kind of neat to watch the prices go up I just wish I had a little more corn left in the bin that wasn’t sold,” Penke said.
He tells Brownfield they’re trying to improve their bottom line as the markets near all-time highs. “Being on the board, trying to do things with contracts, forward contracting, buying or selling contracts on the board to makeup where you didn’t quite gain as much as you should if you had the crop in the bin,” he says.
Penke serves on the Nebraska Soybean Board.
The sad part of the current situation is that the guys with zero marketing skills, that didn’t even contract enough to cover inputs, are going to think they’re heroes. Then next year they’ll think that’s the way it’s going to work again, only to find out the bank printed their sale bills for them…