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Glasgow, Ky | I am one of those guys who has been at it for many years and have heard "but things are different this time" too many times. I have very seldom gotten the top price for anything in my years of farming but am still in the game and am have not done too badly. One of the things I learned through the years in marketing grain was to have a plan and stick to it. That does not mean the plan can't be changed. It can be changed but just don't throw it in the garbage and replace it with nothing. Right now I feel many have thrown out their plan and are just sitting there with the deer in the headlight look thinking about the cheap grain they sold and now they are afraid to pull the trigger on more sales as long as prices are going up. When the prices start back down they will still be sitting there thinking about what they could have gotten. Been there, done that.
Remember, what is your goal? To make money on all your grain or to sell part at the top of the market. I know people, and I am sure you do too, who kept grain in the bins every year and wound up losing a significant amount of money doing it. But this year they hit a home run. One year does not make a successful business. It is all about consistency year in and year out. Knowing where you are going and how you are going to get there.
Think about it. Will selling 10-15% of potential production for 09 and 10 at these price levels seriously jeopardize the health of your farming operation?
If we can't make money with $12 beans and $5 corn in 09 and 10 then we are going to have bigger problems to deal with than just grain prices. Just remember to work extra hard at keeping the emotions in check in times like this. Do what is best for you and your family and don't worry about having bragging rights at the coffee shop. | |
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Head in the sand on 09 and 10 bean sales?
