BEATRICE - Producers have a lot to think about as they sell their corn or soybeans…including worldwide weather, the size of crops both domestically and internationally, and trade relations, such as the effects of a tariff dispute between China and the U.S.
Economist Brian Basting of Advanced Trading, Inc., was one of the guest speakers at the Ag Management Expo, at Southeast Community College Tuesday.
:20 "manage your crops"
Basting encourage growers not to get wrapped up in guessing a price per bushel, but rather focusing on protecting your gross revenue by managing your bushels…setting a floor for selling a crop but allowing flexibility above that level.
:13 "manage the market"
Basting says one of the biggest surprises in early 2018 was weather…resulting in a 25% cut in corn production in Argentina and a similar reduction in Brazil. That provided an unexpected opportunity for U.S. corn growers in the export market.