American Crystal Forecasts Higher Beet Prices

Published online: Nov 13, 2017 News Kenneth Chase
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Source: WDAZ-TV

While harvest can often be unpredictable, the forecast for growers looks better than expected, and some farmers are pleasantly surprised. And we’re not talking about weather. A bump in beet prices could mean big bucks when it’s time for beet growers to get this year’s hard-earned cash.

One North Dakota grower says times have been tough, but they’re about to get better. That’s because American Crystal Sugar released forecast payments for this year’s crop, and they’re estimating payments of 46 dollars per ton. That’s up nearly 4 dollars from last year.

Sugarbeets are a hot commodity in the Red River Valley, with struggling returns.

“Harvest went pretty smooth,” says grower Chris Adams of Adams Family Farm. “We had maybe one—gosh, we got shut down for one evening.

“The last four or five years, farmers have not been making anything,” Adams continues. “You know, so they’re behind every year, so they’re having to pay back for last year with New Year financing.”

Farming can be risky.

“It is very stressful,” says Adams.

At times, it can be tough to hit a bottom line.

“We have a lot of money sitting in the ground for Mother Nature to do what she wants to do to it,” Adams says.

But this year Mother Nature cooperated, and the beets could be worth more than they have been in previous years.

“With that extra payment coming out, yeah, you get, obviously, put that money back into the community,” says Adams.

That means more money to be spent on the farm, which in turn could be a boon for local businesses.

This is a waiting game for producers who are hoping for a win.

Growers will learn the final prices per ton for beets next fall.