With the turn of the calendar, we’re off to a new year and working toward new goals. Coming into 2023, crop prices are historically strong, but input prices remain elevated as well. Each year sets up differently as far as a profitable grain marketing plan is concerned. That’s why now is a good time to review your approach for the season ahead and consider factors that can make a significant difference in your profitability and future.... Read More
You’ve probably heard of renewable diesel, but what you may not know is how it could potentially influence the soybean market in the future. Demand is booming for this alternative fuel, and its effects are being felt across the markets for soybeans and soy products.
Renewable diesel is fundamentally different from biodiesel, which has been around for years. Unlike biodiesel, renewable diesel doesn’t need blending to be used.... Read More
As planters take to the fields across the northern hemisphere, soybean prices remain elevated on a historical basis (Chart 1) despite projections for an increase in planted acres. This creates opportunities for producers to forward price this year’s crop at profitable levels.
Chart 1 – 10-year nearby soybean priceSource: https://www.macrotrends.net/2531/soybean-prices-historical-chart-data
But when to sell? That’s always the question,... Read More
Following two strong seasons for corn, soybean and wheat prices, marketers are looking nervously ahead to the 2023 season due to recent market turns. Prices have been high and traditionally this has led to increased production. But there’s uncertainty whether prices will remain elevated or begin to slide based on increasing global supplies.
Either way, if prices are at a profitable level for your operation,... Read More
While there are plenty of obstacles impacting the price and availability of fertilizer, crop nutrition products are produced and transported 24/7, 365 days per year to meet farmers’ needs.
A new video released by ADM goes behind the scenes of the complex fertilizer journey and explores how key crop nutrients, like monoammonium phosphate (MAP), are made, sourced and moved using ADM Fertilizer’s elaborate network of sea,... Read More
Following a strong two-year run, corn futures remain near the upper end of their historical price range. To protect these prices, producers can utilize a contract like the ASP to forward price a percentage of expected production during a seasonally strong time of year.
By taking advantage of an ASP contract, you will benefit from:
Diversifying your grain marketing portfolio
Leveraging an automatic execution component in your grain pricing program
Capturing seasonal price advantages,... Read More
There’s some comfort in routine right now. For producers, there’s another crop to plant, harvest, and distribute – and it all starts right now.
One thing that’s not routine, though, is making a profit. Challenging markets continue, and that calls for careful planning once again. Regardless of circumstances, here are five basic actions within your control:
Leverage your crop insurance investment
Lower your input costs
Maximize your grain marketing revenue
Use the buddy system
In Episode 29 of In the Driver’s Seat,... Read More