The series provides a walk through on marketing fundamentals for beginning farmers.
What is a good selling price for your grain?
Answering that question is not necessarily an easy task. Some farm managers would say marketing is all about covering the cost of production. Others would say it’s capturing the highest price available. But grain marketing is a bit more complex than that. Many factors, both local and global, influence available prices during the year. And a price that covers the cost of production for one farm may be too low for another farm. Pricing tools can help, but knowing how and when to use them adds another layer of difficulty.
To help you define what a good selling price is for your farm, Michigan State University Extension has released a new series: An Introduction to Grain Marketing: Video Series This collection of short, 5 minute or less, videos walk through 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 outlines the use of marketing plans, including ways to develop a pre-harvest and post-harvest plan to fit your specific farm needs.
Understanding these valuable concepts can build your comfort and confidence in marketing grain for your farm business. Most importantly, they can help you to capture a “good” price for the commodities you sell.
Access this free video series today at: https://www.canr.msu.edu/resources/introduction-to-grain-marketing-a-video-series.
The series is part of an assortment of resources from the MSU Farm Business Management website’s Commodity Marketing subpage. This page offers articles, decision tools, workshop recordings, and more! Visit the Commodity Marketing resource page today at: https://www.canr.msu.edu/tag/commodity-marketing.