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Get aggressive with new crop sales in 2020

A farm management specialist says marketing is going to be the most important decision grain farmers make in the next six months.

Steve Johnson with Iowa State University Extension tells Brownfield he expects US farmers to plant 3-4 million more corn acres and 7-8 million more soybean acres in 2020, so this is the year for farmers to be more aggressive with new crop sales.

“We’ve got the highest corn prices as far as futures prices that we’ve seen in the last five years. We’ve seen a significant rally of the bean prices compared to where we were at in September.”

He says with varying temperatures and moisture levels, farmers are sacrificing grain quality by leaving it in the bins.

“If you’ve got bushels stored on your farm you have got to get into these grain bins. I am hearing horror stories of crops that are not storing well, especially the late harvested corn.”

Johnson says farmers need to have a futures price objective for both old and new crops instead of sitting on the bushels.

Brownfield interviewed Johnson at a fielding forward crop insurance meeting in Effingham, Illinois hosted by Farm Credit Illinois.

Interview with Steve Johnson

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