It's believed the 23-year-old man was working underneath the silo alone when it collapsed on top of him about 4pm.
WorkSafe is investigating.
The fatality brings the number of workplace deaths this year to 14, which is eight more than at the same time last year.
Tragically, it's the fourth death on a farm this year, which is the most of any industry, and only two fewer fatalities than the agriculture sector recorded for all of 2019.
WorkSafe Chief Executive Colin Radford said the shocking toll less than three months into the year was a reminder that every workplace needs to stay focused on safety despite their changing priorities.
"Each of these deaths is a tragedy for families, co-workers and communities who are having to deal with the loss of a loved one at an already difficult time," he said.
Mr Radford said many Victorian workplaces will look very different as the community continues to respond to the COVID-19 pandemic, but that doesn’t mean safety should take a back seat.
"While employers are spending a lot of time and energy on adapting to the crisis, they must continue to do everything they can to protect the health and wellbeing of their workers."