Washington Evening Journal
https://washington-ia.villagesoup.com/p/1685139

Fairfield Ledger   Mt. Pleasant News
Neighbors Growing Together | Nov 25, 2017

Young farmers learn about grain marketing

Sep 05, 2017
Dr. Chad Hart, crop market specialist and Iowa State University Extension economist, shares grain marketing information with a group of 30 beginning young farmers recently.

Grain marketing is a key factor in farm profitability, but can be a very daunting task. To help beginning farmers have a better understanding of grain marketing and the different tools available to help producers market their crops, the Washington County Extension office offered a Beginning Farmer Grain Marketing Workshop on Aug. 28.

Guest speaker, Dr. Chad Hart, crop market specialist and extension economist, joined the group to provide an overview on grain marketing basics and focused on four basic tools that producers can utilize to market their grain. These tools include a cash sale, forward contract, futures, and options.

Successful marketing can be defined in many ways. Reaching the highest price isn’t always the most successful marketing plan. Rather, success may better be defined by making sure expenses are covered and looking for long-term profitability.

Hart discussed how to utilize these tools and work them into developing a marketing plan. Having a marketing plan in writing helps producers to be more proactive rather than reactive or overactive with their marketing.

The beginning farmers have the opportunity to practice the skills they learned through an online marketing simulation. This simulation will run over several months, and the group will meet on Dec. 6 to touch base and hear a marketing outlook update from Hart and again in June 2018 to review what the markets had done and discuss what they learned during the process.

If you are interested in learning more about the beginning farmers group or other programs offered by Iowa State Extension and Outreach, contact the Washington County Extension Office at 319-653-4811.

Comments (0)
If you wish to comment, please login.