Introduction to Grain Marketing Video Series
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April 27, 2023
The most important goal of any farm business is to be profitable. Farm managers achieve profit by generating more revenue than the farm has expenses. For a grain farm, achieving enough revenue is a combination of producing bushels and securing a good selling price.
But what is a “good” selling price?
As a decision-maker on the farm, you will define what a good selling price is for your business. However, defining a grain price that is good and profitable is not an easy task. Many factors, both local and global, influence the prices available during the year. Pricing tools can help, but knowing how and when to use them adds another layer of difficulty. Understanding the complexities involved can make grain marketing a challenge for even a seasoned farm manager.
An Introduction to Grain Marketing: Video Series will aid you in understanding the fundamental principles involved in grain marketing. It includes a review of the commodity futures market and the ways it influences the price you receive for your grain. It explains how and when to use pricing tools. Additionally, it focuses on marketing plans, including ways to develop a pre-harvest and post-harvest plan to fit your specific farm needs. These valuable concepts can build your comfort and confidence in marketing grain for your farm business.
Additional Grain Marketing Resources:
- Grain Marketing Plans (University of Minnesota) - www.cffm.umn.edu/grain-marketing-plans/
- Use these free Grain Marketing Plan Templates to start your own plan!
- Commodity Challenge - https://commoditychallenge.com
- A grain trading game that features real-time cash and futures and options quotes for corn, soybeans, and wheat.
- Iowa State University Grain Marketing - www.extension.iastate.edu/agdm/cdmarkets.html
- Resources, including videos, information on understanding basis and marketing tools.
- Purdue Crop Basis Tool - ag.purdue.edu/commercialag/home/crop-basis-tool/
- Web-based tool providing historical and current basis data for local corn and soybean market regions in eastern corn belt
- MSU Crop Marketing Evaluation Tool - www.canr.msu.edu/resources/msu-crop-marketing-evaluation-tool
- Calculates results and highlights risk implications of risk management tools producers may use with grain elevators.
Video series are based on MSU Bulletin E-3416 Introduction to Grain Marketing:
Download MSU Bulletin E-3416: Introduction to Grain Marketing