No Room in U.S. Grain Silos Means Dumping Wheat in Parking Lots
- Global glut sends exports to 34-year low as output set to rise
- Before harvest, bins hold more leftovers and price is falling
Wheat unloaded into a grain cart.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Some American wheat farmers are not only going to lose money on every bushel they harvest this month, many won’t have a proper place to store it.
U.S. grain silos still hold surpluses from last year. Combined stockpiles for major crops -- corn, soybeans, wheat and sorghum -- are the biggest for this time of year since 1988. With demand slowing and output rising, space will get tighter, especially for wheat, which is the first one harvested. Some growers may dump grain in parking lots or vacant buildings.