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Take advantage of strong commodity prices

Farmers are encouraged to take advantage of strong commodity prices.

CHS Hedging senior commodity broker Ryan Kelbrants says historically the market softens this time of year.

“Seasonally we’re supposed to be kind of at the lower end of the ranges on prices and stuff, and we’ve been very fortunate to have prices at really good levels. The soybean (and) ethanol processors have been buying this stuff and margins have been pretty good. So this is creating an opportunity for next year’s crop.”

Speaking to Brownfield during the recent National Association of Farm Broadcasting Convention, he says producers can lock in profits now.

“I’m having producers look at December 2023 (and) November ’23 beans, and penciling out, with these higher input costs due to inflation, where are you profitable and maybe locking in some of these levels.”

Kelbrants says despite higher input costs and rising interest rates, farmers can still make money in 2023 with $6 corn and $14 soybeans.