Propane Supply Aims High Amid Stable Prices for Corn Drying

The propane supply for grain drying demands appears to be adequate this harvest season. According to Michael Newland, director of agribusiness development for the Propane Education and Research Council (PERC), production has increased every year for the last decade, with significant exports.

As of September 9, the national wholesale benchmark price of propane was 83 cents per gallon, while average residential prices remained steady at $2.67 per gallon nationwide and $2.07 in the Midwest.

Newland noted that grain drying is a major variable in the propane industry, with demand affected by harvest timing. This year's corn crop estimate stands at 15.8 billion bushels, down from August's estimate.