Storing grain at elevators and co-ops is pricier than ever — leaving managers to worry

Private grain elevators and farmer-owned co-ops across the St. Louis region are spending more than ever before to store corn, soybeans and wheat.

“It's been a real challenge the last year and a half,” said Scott Harre, a grain merchandiser at TopAg, a co-op with 10 locations scattered across southwest Illinois.

The costs have reached record highs, according to a new report from CoBank, an agricultural lender. Growing interest rates, high crop prices and increasing transportation costs are just some of the factors.

The high costs leave grain merchandisers, the people buying and selling grain at elevators and co-ops, wanting to sell as quickly as possible.

“I’ve wanted to ship everything I had in my elevator today — right now — because that’s the best price,” said Spencer Janssen, the manager of Litchfield Farmers Grain, a privately owned elevator about 55 miles northeast of St Louis. “Well, that’s physically impossible.”