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The storage crunch and higher fees have boosted revenues at grain elevator Andersons [ANDE.O], Chief Executive Officer Pat Bowe said in an interview. “It’s paying a grain handler to store – it’s the old-fashioned way to make money,” Bowe said vintage cufflinks identification uk sale. These are also boom times for John Wierenga, president of grain storage bag retailer Neeralta. Sales of their bags – white tubes up to 300 feet now littering Midwest fields – are up 30 percent from a year ago. “The demand has been huge,” Wierenga said. “We are sold out.”..
Farmers are feeling the pinch. Those in central Illinois could pay up to 40 percent more than in previous years to store crops over the coming weeks, agricultural consultant Matt Bennett estimated. That amounts to between 3 cents to 6 cents a bushel, Bennett said, a painful expense for a crop that was already expected to deliver little income to farmers. Storage rates are swinging wildly, depending on the elevator location. Grain dealers at rivers typically charge more than their inland counterparts because they are more dependent on export markets vintage cufflinks identification uk sale.
At some Midwest river terminals, farmers were paying 60 cents a bushel to store soybeans until the end of the year – more than twice as much as a year ago. Some commercial terminals are charging farmers to just drop off their soybeans. The trade war has only exacerbated the strain on storage, which has been a persistent problem in recent years due largely to a worldwide oversupply of grains. Even before this fall’s harvest, around 20 percent of total grain storage available in the U.S. was full with corn, soybeans and wheat from previous harvests, according to the U.S. Department of Agriculture. That was the highest in 12 years for this time of year vintage cufflinks identification uk sale.
Some grain merchants are also charging additional fees for farmers who deliver less-than-perfect soybeans, said Russell Altom, a soybean farmer and senior vice president of agricultural lending at Relyance Bank in Pine Bluff, Arkansas vintage cufflinks identification uk sale. “I’ve never seen things this bad,” Altom said. “I know several farmers who hired lawyers, to see if they can sue over the pricing and fees issues.”. Eric Maupin, a farmer in Newbern, Tennessee, said he was facing so-called dockage rates of between 60 cents at $1.20 per bushels at Bunge Elevators in his area – more than three times as high as a year ago..
“Damage can be anything – a split bean, one that’s too small, one that’s too big – whatever,” Maupin said. Some farmers are pulling farm equipment out of barns to make room for the overflow of grains vintage cufflinks identification uk sale. After packing nearly half a million bushels of corn and soybeans in their usual steel bins, Terry Honselman and his family found some additional space in 35-year-old shed on their Casey, Illinois, farm. Most years, the building protects farm equipment and bags of seed. Now, it is stuffed with 75,000 bushels of corn..