Taking out a grain loan is an option for farmers who made need more cash on hand while prices on corn and soybeans are low this year.
Angie Vos with Marion County Farm Service agency says the program offers $1.89 a bushel for corn and $4.97 for beans. Taking out a 9 month loan against grain at 1 and ½ percent gives farmers the opportunity to see how prices trend after harvest according to Vos. Vos says that in the 1980’s it was not unusual to see hundreds of loans taken out, but good years since then have seen the program decline. She says it would not be surprising to see it on the rise again this year.