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ND-Corn Report

ND-Corn Report
North Dakota corn bushels from 2016 could affect corn prices
The Associated Press - June 27, 2017

BISMARCK, N.D. - North Dakota farmers have sold a lot of corn, but the amount of crop left after last year's record production could wreak havoc on local prices.

The Bismarck Tribune reports the U.S. Department of Agriculture estimated in March that 215 million bushels of corn were being stored on farms in the state.

North Dakota State University crop economist Frayne Olson says if farmers are holding on to corn in hopes of a price increase, it could lead to lower prices being paid to the state's farmers. Local cash price is determined by the local basis, which is a premium subtracted from or added to the futures price.

Dale Ihry, executive director of the Corn Council, says the USDA is expected to release another report on grain stock on Friday.



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