Jim Purfeerst’s soybeans went straight from his fields to storage this fall.

The fifth-generation farmer outside of Faribault plans to offload them in December. By then, he hopes prices will improve.

The current basis, a reflection of local prices linked to demand, makes it tough to turn a profit. “From 2022 ‘til this year we lost 40% on the bean price,” he said. “It makes you watch every penny you spend.”

Purfeerst isn’t an outlier in storing soybeans this year. Many other Minnesota farmers are following suit, waiting it out until a more favorable day arrives.

The chances of a return to 2022 prices appear dim on the horizon as long as soybeans remain a central commodity in the U.S.-China trade war, which has the agriculture industry grasping for solutions.

A hole all the way to China

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