MITCHELL, S.D. (MITCHELLNOW) As harvest approaches, and low commodity prices persist, a recent AgWeb survey shows farmers still have an abnormally high percentage of old crop corn and soybeans to sell.

USDA’s June Grain Stocks Report also found on-farm corn stocks were up 36.5% versus the previous season to more than 3 million bushels, which is the highest level since 1988.

How much old corn crop do farmers across the U.S. still have left to sell. Based on a recent AgWeb survey, farmers reported the following:

 

  • 83%, or 1,111, still have zero to 25% in storage
  • 10%, or 139, still have 26% to 50% in storage
  • 4%, or 52, still have 51% to 75% in storage
  • 3%, or 36, still have 76% to 100% in storage

As for old crop soybeans:

  • 89%, or 1,189, still have zero to 25% in storage
  • 7%, or 94, still have 26% to 50% in storage
  • 2%, or 28, still have 51% to 75% in storage
  • 2%, or 27, still have 76% to 100% in storage

Farmers are faced with selling prior year’s crops at low commodity prices to make room for this year’s harvest or investing in new bins to increase their storage capacity in the hope of riding out low prices in order to sell at some more profitable future date.