What measurement precision do you want? I have a silo as tall as yours but the level measurement is very simple. Here's how it works:
Motor-drive paddles, mounted at the silo wall, run at a very slow speed at different elevations in the silo (a meter apart, from each other). If the level where a paddle is at becomes filled with powder, the material impedes the paddle and the small, geared-motor driving the paddle stops turning, activates a switch (a torque switch). You'll know the level of stock because the indications from bottom to the actual level is up!