McLean County Farm Bureau

CoBank report: Grain storage costs on the rise

If U.S. farmers grow large crops as projected by USDA, it likely will cost more to store them. A recent report from CoBank’s Knowledge Exchange projects the cost of storing grain, otherwise known as the cost of carry, could soar to record highs. The forecast is due to rising interest rates, increasing costs for labor, insurance, transportation and energy, along with lower but still relatively strong commodity prices.

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