Iowa Agribusiness Radio Network farm broadcasters speak with commodity brokers from several different firms on a regular basis. One thing they all agree upon is the fact that farmers/ranchers could benefit from having a grain marketing plan in place. But many struggle with establishing one.
Channel offers ?more value than just seed,? says Matt Bennett, Channel grain marketing consultant. Channel equips its customers with tools necessary to achieve profitability, including assistance in developing a grain marketing plan.
?Marketing, as we know, is one of the tougher things for producers. We?ve done a variety of things over the years from newsletters to meetings to a profitability calendar. One thing we?re doing this year is putting together a podcast, a four part series. It?s the essential of grain marketing,? Bennett said.
Grain marketing plans vary based upon operation. The podcast, however, will cover the basics.
?We?re going to dive into how you figure a breakeven,? Bennett said. ??What?s a breakeven in sales?? Yours and mine might look completely different, but we both need to know what ours are. Once you establish a breakeven, how does that fit into a marketing plan and what are strategies to protect yourself when you are on the right side of breakeven??
The first episode is set to be released today. Bennett encourages producers to give it a listen and reminds them, “It’s easier to make a sale when you know you are making money.”
?In 2019, a lot of people have a significant amount of costs associated with drying. Drying is not covered by crop insurance. If you?re yield is low enough to collect crop insurance, you?re going to get a little bit of a pay back, but that doesn?t have anything to do with moisture,? Bennett said. ?How does this all fit in with having a marketing plan in place? You need to have offers going in at profitable levels, take some risk off the table and know when you?re making money. “
