With record yields expected at harvest, storage limits could be under pressure. That could create an opportunity for renting another farmer’s unused storage, but that comes with risk.
Extension agents at Michigan State University says rented bins need to be carefully inspected for leaks and places where pests can enter. They also need to be cleaned thoroughly before new grain is stored.
Costs are another key part of the equation for both the renter and owner. For producers, agents recommend pricing similar to on-farm commercial storage. For bin owners, they say all factors need to be considered like insurance and taxes.
