$2 Soybean Basis | Live from Big Iron Farm Show
Tom Grisafi and Don Wick provide an on-the-ground report from the Big Iron Farm Show, addressing challenging market conditions for farmers while highlighting resources and upcoming speakers at the event.
• Basis levels are "pretty ugly" in the region with a negative $2 basis making even optimistic price projections like $12 beans insufficient for profitability
• Input costs remain stubbornly high despite commodity price decreases, creating a profit squeeze for producers
• Approximately 100 million bushels of grain storage was lost in North Dakota due to a derecho wind event, complicating harvest decisions
• Land values are holding steady despite market challenges, described as experiencing a "soft landing" rather than a crash
• Young farmers face particular challenges entering agriculture, raising concerns about potentially losing another generation from the industry
• The show features panels on weather, tax planning, market outlook, and special appearances including FSA Administrator Bill Beam
• Despite current hardships, farmers maintain generational optimism with a long-term perspective that helps weather difficult periods
Check out all our forum recordings on the Red River Farm Network YouTube channel at RRFN.com, where you can also sign up for our weekly Farm Net News newsletter.
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Thank you, Tommy G
