06/17/2024

As Prices Slump, Farmers Shun Buyers, Cling to Unsold Corn

They want higher prices before they sell their commodity crop

South Dakota farmer Eric Kroupa received a flurry of calls from grain dealers and ethanol plants asking to buy the corn locked away in his bins when prices neared 4.5-month peaks last month.

He sold some, but is waiting for buyers to up their bids to sell more. Prices have since eased and are hovering just above three-year lows posted in February.

"There's a lot of corn out there but it's sitting in the farmers' bins and not the end-users' hands," Kroupa said.

Please select this link to read the complete article from Reuters.