Chris Barron Top Producer columnist and author of the AgWeb.com blog "Ask a Margins Expert" says that there are three things that every farmer can do today to manage their risk and maximize their profitability.
Barron says that in order to ensure you get the most out of your crop each year farmers have to understand their crop condition, know their costs and establish market opportunities. He says knowing those three things will allow farmers to take advantage of the market when it will benefit the most.
Barron presents this example. Corn is selling for $5.50, do you sell it? If so, how much do you sell? 10%? He says that farmers have to set goals. If they have goals set and they know the condition of their crop and their true costs, then determining when the market place is prime for a sale is less difficult.
Learn more in the video below.