Farmers rushing to finish the 2013 harvest are facing some difficult decisions before the end of the year.
That's what NDSU crops economist Frayne Olson said at today's
Crop Outlook and International Durum Forum in Minot.
Olson says farmers need to make marketing moves before 2014 arrives, and those choices will be harder than usual, given the way prices for farm commodities have dropped since the planting season.
(Frayne Olson, NDSU Crops Economist) "We're now shifting gears into, well let's do some year-end planning: how much do we, from an income standpoint, how much do we want to sell this year and how much do we defer into next year. There are some important decisions to make and typically at this time of year the harvest lows start to appear and we do see some recovery moving forward into the winter months."
Olson thinks the wheat market will slowly rise, while corn prices are likely to stay at their low levels for a while since corn stocks are very high.