Farming in 2019 is likely to be defined for many reasons but ultimately the end result is uncertainty. Tommy Grisafi with Advance Trading recently spoke to AgDay's Clinton Griffiths about managing risk and uncertainty in years like this one.
"When I meet with growers, and when they hire us, the number one thing I asked them is what bushels do they have," says Grisafi. "When we call them every few weeks, [I ask] how is your crop progressing?"
Grisafi says it doesn't do any good to worry about what's happening on the farms of friends or relatives.
"If you got the crop planted in a timely manner your risk is on that bushel," says Grisafi. "The number one thing I think you could do is worry about your bushels because it's the only bushels you're going to make money on."
Grisafi says, like many analysts suggest, a lot of growers will have price protection in place this year.
"I think they'll look back and wish they sold more," says Grisafi. "We have our puts on for 2019 and a lot of growers have 2020 puts."
He says with prices at $4.25, puts for 2020 were relatively affordable.
"They have to have a banker or the money to do this," says Grisafi. "It's not just free."
Ultimately, Grisafi says filtering the noise of 2019 has been the hardest part of making smart decisions.
"The internet has changed how we perceive data," says Grisafi.