December corn futures dropped $1.50/bu. in three weeks ending in mid-September. For a 1,000-acre farm that yields 150 bu./acre, that’s about $225,000 in lost revenue if no corn had been sold. Can you afford not to have even part of that corn booked at the $7.50+ priced it reached?
With bullish corn attitudes, some likely didn’t make sales when futures hit $7.80 in late August. Such decisions can be delayed by too much information from too many people with too many opinions. A marketing consultant, whether hired by the bushel traded, acres managed or a set contract, can help lower the burden.
“There’s an endless source of information available regarding market direction,” says Scott Brown, University of Missouri Food and Agriculture Policy Research Institute (FAPRI) agricultural economist. “It can be extremely difficult to juggle the demands of their time and successfully market their crop without some outside help.
“A marketing consultant can keep you on the right track in terms of implementing your plan to market commodities,” Brown adds.
A marketing consultant can relieve emotional strain on whether to pull the trigger, he says. “In these volatile markets, it’s easy to forget your plan and make marketing decisions not in the long-term best interest of your operation,” he says.
“A consultant can be the person that steps away from the moment and makes sure you carry out the plan you set in marketing your commodities.”