Posted on July, 28, 2024 at 03:57 pm
A commodity broker says some farmers are waiting for demand to pick up before they market their grain.
Tommy Grisafi with Advanced Trading says he expects some more grower decisions to be made soon. “We can’t force the farmer to sell,” he said. “There’s a lot of farmers holding grain and we’re getting to crunch time where the new harvest is going to start. There’s a lot of bushels sitting in bins that need to be moved.”
Speaking to Brownfield at the 2024 Ag PhD Field Day near Sioux Falls, South Dakota,he said purchases have been picking up. “Things are getting better, but we still have so much (grain). Not only do we have a lot, but the world farmer has a lot. The second safrinha crop is coming in South America. We just have too much. Demand is okay. We’re seeing Mexico start to buy and we’re seeing China start to buy.”
Grisafi says it’s important to have a disciplined marketing plan going into harvest.
Source: Brownfield