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Latest rally another gift for farmers holding onto old crop

An extension grain marketing economist is calling the recent rally yet another gift for farmers holding onto old crop corn and soybeans.

Ed Usset with the University of Minnesota says his marketing strategy is simple.

“You have to view this as another chance to sell at a better price than you’ve seen.”

He tells Brownfield late spring and early summer rallies have occurred the last four years, providing producers opportunities to clean up problems carried over from previous growing seasons.

“And I would treat the current rally much the same way.  Take care of some old crop issues if you haven’t done it yet.  If you haven’t yet priced new crop, here you are (with) yet another chance to get something done.  Not at the greatest prices, but not bad.  A good place to start.”

 

Usset says with all this volatility, writing and sticking to a marketing plan can provide some protection against your own emotion.