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'08 Grain in the Bin...WHY???

Mar 01, 2009
Hi John...I almost fell out of my chair, when you admmited on live t.v in front of all us other, regular old farmers, that you still had '08 grain, IN the BIN  unpriced. I am shocked,  You of all people hear in person from the great advisorrs on the show about putting a floor???  Or protecting the grain on hand??  And all the other terms that I would wager 75% or more of us have no idea, or the $$ to do..I look forward to listening to you and Scott.
A fan, Cliff

JOHN'S RESPONSE: 
Cliff - thanks for watching.  I'm going to use this for next week's show.  But suffice it to say, I don't do fancy marketing.  I use forward contracts, and farms storage, period.  I have tried to "upgrade" my marketing several times and seem to lack the discipline and time to adopt the tools our gurus insist we must learn.

 
More next week.

 
John
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COMMENTS (3 Comments)

John Phipps
CB:

If you recall from the article you cite, my son had been gone from the farm 15 years and had never indicated to us he was interested in returning. Maybe we should have had a succession plan in place just in case, but it seemed like a waste of time, and I felt it would also be perceived as pressure on my son who was a successful professional engineer in another industry.

Once he made a decision, we made it happen.

I do not offer market comments from a expert point of view, just what is happening on my farm. While I am not an example of good marketing, AGMAS data shows it is really really hard to beat average prices. That's my target.

My most limited resource is time, and elaborate marketing programs require more than I wish to invest. So I use forward contracts and do the best I can with cost control and productivity. It's worked OK for 35 years.

Small brag: I have 75% of my 2009 beans priced at $10+, so even a blind hog...

9:19 AM Mar 4th
 
Corn Boer
These actions do not surprise me coming from John. This is the same person that a few years back admittedly told his son that he had no succession plan and couldn't afford to have him come back to the farm. Even farming 1800 acres and 2nd genertion farmer there was NO FORSIGHT, amazing. That is when you lost all credability. Just "ah shucks" kind of guy.
1:36 PM Mar 2nd
 
 
 
 
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