Thank you to the Ohio grain farmers who took time out of their busy schedules to attend one of the marketing seminars last week in either Archbold or Delaware. I mentioned that I would share with you the results of the surveys that each of you filled out.
For corn I had 40% of you indicate that you had nothing sold for 2015. Of the 60% of you that did have at least something sold the results were:
• Half of you are only 10% priced
• A quarter of you are near 25% priced
• A quarter of you are at or over 50% priced
• The highest percent sold by one farmer was 70%.
In conversations with many of you after the presentations I discovered that for Ohio farmers it certainly looks more profitable to put your acres to soybeans verses raising corn. Could the massive amount of acre increase the market is expecting come from your backyard? Will that weigh extensively on bean prices this year? I don’t know, but it would seem like it could.
Many of you might have been overwhelmed by the vast amount of information that was presented at the seminar. Don’t worry that is completely normal.
After my conversations with Bart Johnson who sat through three of my presentations in a row, I found that someone new to this kind of marketing can still get something out of hearing this presentation over and over. Think of this as a new language that you are learning to speak. You can’t expect to learn it in one three hour presentation, it takes time. I tell my clients it will take them 18 months to fully understand it. This is because the first year you are learning the process. At the beginning of the second year you see how it will pertain to your farm situation, but you won’t quite feel confident to explain it to someone who has never done it. After about four years you will be able to explain it in great detail to those who do not understand it or have never done it.
Each week in my newsletter I try to focus on a part of grain trading that farmers may not understand fully. If there is a question you have that you would like me to answer please send it to me. Likely another farmer out there has the exact same question.
I would like to thank Archbold Equipment, Ohio Ag Net and specifically, Bart Johnson for putting together a great venue and hosting a marketing seminar in Ohio. For those of you looking for a great recap of issues in Agriculture that relate to Ohio farmers I highly suggest you sign up for the daily email from Ohio Country Journal and Ohio Ag Net at http://ocj.com/digital-dale/. I wish that farmers in my home state of Nebraska had something like this to read each day.