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Both soybeans and corn are likely to produce better that previous years.
But prices for both commodities are near their lowest point in half a decade, making a break-even point out of reach for many.
Because of low prices and the lack of on-farm or elevator storage, you are likely to see mountains of grain stored on the ground this harvest season. And the economic impact on communities like Lake Preston, De Smet and other area communities will likely be severe.
The U.S. Department of Agriculture estimates that South Dakota will produce some 277 million bushels of beans this year, up 15 percent from last year.
Paul Casper, a Lake Preston area farmer, said the size of the crop has already negatively impacted price. Commodity prices are generally at their lowest right at harvest time.
Posted on 10-03-2018
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