Farm Journal Economist Bob Utterback offers practical marketing tips farmers can use in the coming months.
If you want to make effective, money-making corn sales in the future, plan for that success now, says Farm Journal Economist Bob Utterback. Utterback spoke to a packed house of corn growers during the Yield Chasers Ag Academy, sponsored by DeKalb and Asgrow, earlier this week near Rochelle, Ill.
Among the topics Utterback addressed were the three P’s that he says all good marketers employ: preparation, persistence and patience. In addition, Utterback also shared three recommendations for corn marketers to implement:
1. Develop a set of core fundamentals that you believe regardless of the bullish or bearish phase of the market.
2. Develop a hedge strategy that best fits the expected trading patterns.
3. Have a contingency plan if unexpected events change the expected price behavior.
In the following video, Utterback provides some additional, practical recommendations farmers can put into practice in the months ahead.