Storing grain on the farm is a good way to increase marketing flexibility. On the other hand, building grain storage isn’t free – so how long would it take for would-be new storage structures to pay for themselves?
That question prompted Grain Systems, Inc. (GSI) to build a web and mobile tool called the GSI ROI Calculator. Users start by selecting their crop and entering acre numbers plus anticipated yield. They can also input monthly elevator storage costs (multiplied by months in storage) plus wait time costs. The results estimate the revenue potential of storing grain on the farm versus sending it to the local elevator.
Seeing these results can help the farmer make a more educated decision about whether or not to add grain storage, says Tim Davis, GSI director of grain sales, east region.
“Most farmers know that adding space is advantageous, but this app helps quantify the benefits.”
In the video below, Davis gives a quick run-through of the GSI ROI Calculator.
The tool is available for free as an iPad or iPhone app, or by visiting http://roicalculator.grainsystems.com.
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