Don’t jump the gun to price grain for 2024

Despite current strong commodity prices, ag consultants say farmers should not rush to price grain for 2024.

A retired farm management specialist, Dr. Steve Johnson tells Brownfield Ag News he recommends waiting until May or June. He also recommends playing off “spring uncertainty” here in the northern hemisphere, where 85 percent of feed grains are grown. Soybean prices may be higher in late winter because of happenings in South America, but he says it is still smart to wait.

Johnson wants to remind farmers they are subject to margin call risk and need to maintain extra working capital in 2023.