Soybean farmers in western Iowa and Nebraska have an opportunity to add some to their bottom line, if they still have soybeans in their bins. GoGrain.com is alerting their customers this morning to these opportunities.
“Producers in Nebraska and western Iowa can take advantage of plus 29 cents on old crop soybeans if they go to ADM in Lincoln, Neb.,” says GoGrain’s JC Hoyt. “This opportunity is good until next Friday, the 25th. As of today it’s at 29 cents over the futures market to take advantage of this. We think that kind of opportunity, even with trucking involved, is still profitable.”
Hoyt says the data shows that customers within 200 miles of Lincoln can profit from this current offer, even considering trucking costs. After that, considerations are taken into account for truck ownership and other profitability factors. The tools from GoGrain can help farmers determine their profit potential based on their individual cost factors.
GoGrain, which is a sister company of CashGrainBids.com, is an online brokerage service for commodity products. Cash Gain Bids collects data from more than 4,000 elevators across the country and assists its My Grain Trades customers in finding the best cash market opportunities. The My Grain Trades service is free to customers of GoGrain.