mark guildenzoph 11/19/2013 @ 10:52pm
Are you kidding me since when is 16million bushel worth 7.4 billion US dollars? I'm no expert, but that is 46+ dollars a bushel. Not much of a problem on the farmers end. Time the markets in our country start reflecting this type of return. However we should all take the hint it is a much cheaper way out to put up additional bins and store it ourselves then settle for these unreasonable prices.
mark guildenzoph 11/20/2013 @ 7:32pm
Thanks for the clarity I see that now didn't look right to me either. Still better regardless, but yes in the park.
Eric Artman 11/20/2013 @ 12:30am
It's not 16 million bushels, it's 16 million tons of beans. It works out to about $460 per ton. At 60 lbs./bu., that's 33.33 bu./ton, and it's a value of $13.80 per bushel. Maybe a little higher than today's Chicago close, but definitely in the ballpark. RTF article.
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