Posted at: 11/03/2009 6:08 PM | KSAX.com
By: Matt Standal / KSAX Eyewitness News
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Minnesota Farmers Battle November Rain, Falling Grain Prices.

With acres of crops still standing, agricultural experts say Minnesota farmers are bracing for a wet, late season harvest and these conditions could mean falling grain prices and moldy crops.

It's a matter of getting the crops out of the field, drying them out, and seeing really what's out there," said Jim Emter, commodities expert and CEO of Van Aughn & CO in Alexandria.

"There's just a lot of weather excitement in the market" Emter added. "The farmer's biggest concern right now is getting out soybeans, and in a few weeks it will turn to corn."

Currently, Minnesota corn is trading for $3.89 per bushel, with Minnesota soybeans coming in at $10.15, and Minnesota wheat trading for $5.29 on the Minneapolis Grain Index. 

A cold summer and continual fall rain constitue an ongoing threat to those fluctuating grain prices, Emter said.

Agronomist Rick Mittag warns area farmers to be on the lookout for dangerous mold ---especially in late-season corn.

"Farmers are bringing in moldy corn and they're concerned," says Mittag, who manages Pro-Ag Grain Cooperative in Parkers Prairie, MN.

Mittag went on to say that corn riddled with mold may contain toxins rendering it unsafe for export, livestock feed, or ethanol production.

"It could be to the point where if... corn has too many toxins in it, it will be refused.  And then it's the farmers problem, and he's not going to get anything for it," Mittag said.

Current Lindner Farm Network figures show corn yields with a 30 percent moisture content or greater throughout West Central Minnesota.

Both Emter and Mattig recommend farmers obtain quality assurance testing by crop agents or University of Minnesota Extension Services.