Regional farmers face storage problems

Farmers have faced challenges in 2014 with record harvests lowering prices, late season rains that slowed efforts to bring in crops and more space needed to store their corn and soybeans.

After 2012, when a bushel of corn fetched prices over $8, 2014 is realizing prices of around $3 per bushel, leaving many scrambling to store their stocks for when prices improve. Now, many farmers are filling their silos to the brim as they try to navigate current and future grain prices, according to the St. Louis Post-Dispatch.

This year’s corn harvest is anticipated to yield 14.5 billion bushels, which is a 4 percent increase over last year and the highest production on record. Soybeans are expected to to yield 3.93 billion bushels, or 17 percent better than 2013.

Read more from the St. Louis Post-Dispatch.