Swinging for the fences in the grain markets and striking out can result in bankruptcy. We have all heard of the neighbor who lost the farm in the futures market. Can you make enough on that one swing to make up for the other nine? Probably not.
So your strategy for conquering the grain markets should be going for base hits. The best baseball players are those who get the bat on the ball every single time and get on base. That’s how you score runs.
Take a look at these five strategies to conquer the grain markets more consistently.
Farmers have various prices that greatly fluctuate on their farming operation. Most of them can be hedged using various strategies and programs.
You may not realize it, but fuel and fertilizers are part of that group: they can be hedged to take away the risk of their constantly fluctuating prices.
Here’s how.
Farmers only get about 30 paychecks in their lifetimes.
Scary thought, huh?
The most important factor in each of those paychecks is grain marketing. In this episode, Scott lays out three components of a grain marketing plan that will make every paycheck count.
Spring is now yawning and waking up from its slumber, and most farmers are just about to start planting corn. Figuring out the return on investment for every input on your farm is crucial to making sure you’re the lowest-cost producer.
And since farming is somewhat of a competition, the lowest-cost producer wins.
Ready for some math? Today, we’ll focus on determining the ROI for one specific input: liquid starter fertilizer.
Does it make sense for your farm? Let’s see.
During the boom years of farming, many operations bought lots of equipment and built shops. Now, in these tough times, plenty of farmers are being choked by debt.
Luckily, there are tricks to get out from under it. Join Scott as he discusses the best strategies to ease the burden of debt.
Resources from the episode:
The default training system of many farmers is to throw an employee in a tractor and tell them to go. But that doesn’t make the employee successful, confident, or motivated.
Believe it or not, it’s easy to motivate people—if you have the right plan. Use these 10 strategies to keep work morale and ethic high on your farm.