Don't Be Embarrassed to Make Money, Have Marketing Plan in Place

February 10, 2017 02:24 PM

A lot changes in a year: stronger prices, weaker prices, more demand, less demand. At the Northern Soybean Expo in Fargo, U.S. Farm Report’s John Phipps spoke to a panel of analysts to get their thoughts on the year ahead and the strategies to get there.

Tommy Grisafi, Advance Trading, Inc.
“Three points to remember:

  1. Watch out for fake news. We’ve never had more access to information and the experts get it wrong.
  2. If the experts are so smart, why do they have a day job?
  3. Understand what your risks are at your farm—that’s the only farm that matters."

DuWayne Bosse, Bolt Marketing
“February is usually a little bit slower in markets. It’s a good time to look at your own operation, look at your own breakeven levels, and have a marketing plan in place for the year.”

Tregg Cronin, Halo Commodities
“This is going to sound odd talking to a group of soybean farmers, but one market to keep an eye on this coming year is going to be spring wheat. As everybody is running one direction, it’s often a good time to walk the other way quietly.”

Watch the full marketing roundtable discussion on U.S. Farm Report this weekend. Check your local listings or visit the site.

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