Storage rates are different geographically as well as by elevator. These are cash costs. Verify the accruing commercial storage rate. On-farm storage cash costs include utilities, repairs, insurance and labor. Non-cash costs cover shrink, grain damage and handling losses.
Interest is a factor and is often overlooked.
It can be a cost for an outstanding operating loan or it can be an opportunity cost through investing crop proceeds. Storing crops and delaying operating loan repayment is an accruing cost. You can enter your selling price, storage charges and interest rate and the spreadsheet will show the various breakeven grain price for storing grain over time. Be sure to include all storage costs when implementing a marketing strategy. Do not overlook accruing commercial storage costs, accruing loan interest rate or an opportunity to invest crop proceeds.