Key questions and considerations before purchasing a grain bin
Deciding whether to invest in a grain bin for your farm involves more than just the upfront cost. It’s important to consider several factors to ensure the right decision for your operation. Here are the questions you should ask yourself:
Can you justify the cost?
Grain bins offer the ability to store grain and avoid selling at low prices during harvest. With storage, you can wait for prices to rise and make more profitable sales.
How much capacity do you need?
Determine the number of bushels you need storage for. If you grow different crops, consider smaller bins instead of one large one. Taller bins are generally more cost-effective than wide ones.
What are your needs?
Will you need storage alone or also a dryer? Consider how the bin will be filled and if you’ll need conveyors, augers, or bucket elevators.
Are there any height restrictions?
Check local regulations. Airports or towns may have height limits, or their may be additional installation requirements due to seismic or weather conditions.
What’s your farm’s power situation?
Ensure your location has access to three-phase electricity, which is cost-effective and supports future expansion. Natural gas access may also be needed if you plan to install a dryer.
How close are you to the highway?
Being close to a highway can make grain transportation easier and more efficient, ensuring your farm is accessible for large equipment and delivery trucks.
Will you need more bins in the future?
Plan for future growth. If you anticipate expanding your storage capacity, know the potential for growth will ensure you have enough space in the future, placing bins in the right location now, will help save time and costs later.
Investing in a grain bin can help you strategically sell grain at higher prices, avoid rushing into deals with middlemen, and enhance your farm’s storage efficiency.
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