Staying ahead of these turbulent marketing times is not easy, but volatility equals the chance of great profits.
“We’re in a new price dynamic,” says Bob Utterback, Farm Journal Economist and president of Utterback Marketing. “Profit margins are at extreme highs.”
With extreme heat tugging at yield potential for the country’s corn crop, Utterback believes the next two or three weeks could be very turbulent.
“Start putting yourself in position to where you can start locking in profit,” he says.
To be an effective marketer, Utterback says producers will need to manage these elements:
- Basis management
- Spread management
- Flat price management
- Input costs control
Utterback explains the importance of each in the following video.
Utterback, Mark Gold and Ken Ferrie joined host Al Pell for last weekend's U.S. Farm Report Marketing Roundtable. Watch it online this weekend at www.USFarmReport.com.
Make Plans to Attend these Upcoming Corn College Events
Can’t make it to one of the Illinois Corn Colleges? Check these out.
Soybean College: Aug. 1 to 2., Coldwater, Mich.
With a large focus on in-field diagnostics, let Farm Journal Associate Field Agronomist Missy Bauer teach you the secrets to soybean production. This event will focus on fundamentals, soybean growth and take-home knowledge of how to raise better beans. World-record soybean yield farmer Kip Cullers will present a special breakout session. Click here to register
Corn College “Fundamentals”: Aug. 3 to 4, Coldwater, Mich.
The Farm Journal Corn College Fundamentals session provides practical, hands-on training to help corn growers advance their production skills, increase yields and improve their profitability. This session is geared for the first-time Corn College attendee and will provide them with the core knowledge of how to use the Systems Approach on their farm. Click here to register