What’s in your marketing toolbox?

By Jon Scheve, Superior Feed Ingredients, LLC

Over the last month I have been on the farm helping with harvest. While working on the corn head, I looked inside the toolbox at the many tools we carry on the combine to fix potential problems in the field. It reminded me of all the grain marketing tools we use to price the grain we are harvesting.

Just as most farmers know how to use their tools and would not go to the fields without them, farmers should be knowledgeable about the grain marketing tools available to them too. Unfortunately, some farmers are not.

For example, not using futures is like going to the fields with only a hammer, screwdriver, vice grip and crescent wrench. They will be able to fix some problems, but they would be more effective and efficient with a more diverse toolbox. Let me explain.

The hammer

It is easy to understand what will happen when you use it, but it does not offer many options.… Continue reading