Nevada FFA sold their old crop, 658 bushels of soybeans, for $14.76 per bushel on May 29. The net check was $9,650.43. The members were pleased that their patience paid off in storing the soybeans at KEY Cooperative since harvest last fall. Soybeans stayed in the twelve to thirteen dollar range for quite some time, but a strong rally came in late May. Mr. Cooper pointed out that $154 in storage fees provided the chapter with crop value increased income of $1,579 at final sale.
Since last fall, KEY Cooperative had donated an additional 25 bushels of soybeans and 75 bushels of corn for the chapter to also use for commodity marketing study. The KEY donated soybeans were sold on March 28 at $13.92 per bushel. The KEY donation of 75 bushels of corn was sold at $4.68 per bushel. The total income for the donated bushels was $696.51
On Thursday, June 3, the Nevada FFA chapter voted to forward contract 500 bushels of new crop corn at $4.08 per bushel. With adequate moisture, good planting dates and stands, the 2014 crop production could be one of the best in years.