Grain markets continue to be a focal point for farmers looking to cut costs and raise profits from the 2024 harvest season. Going into harvest, there were some concerns as markets traded low, however, Cody Forde, grain originator for River Valley Cooperative says he has seen some recovery, especially in corn prices.
“Back at the end of August, we were concerned about what we would see coming into harvest if it would go that $3.60 area, $3.70. Ever since we made that low, we’ve recovered off of that, and we made a high back at that $4.34 mark, which is important,” says Forde. “We didn’t break through it, but it’s been a really encouraging rally.”
On the soybean side, Forde adds, markets have been more erratic, with many ups and downs.
“Doesn’t seem to want to stick to one area. When we made that low back in August, we did rally quite a bit off of it. We went from a $9.76 future versus the January all the way up into the $10.80s so we made a significant incline off of that into the end of September there,” says Forde. “Then at harvest, really progressed along, and yields were running really decent. We saw taper right back off. And we’ve been back in that area where it kind of low in the marketing area for when it comes to that August timeframe.”
Forde adds that some advice he gives to farmers is to take advantage when price bumps pop up in the market.
