Channel Grain Marketing Consultant
When it comes to the commodity markets and profitability, 2019 has been a roller-coaster ride for producers. With spring insurance prices of $4 for corn and $9.54 for soybeans, prices in the winter weren’t terrible by any means. However, as I write this column in mid-May, profit margins look to continue to tighten.
With producers still looking at plenty of unknowns as we progress through summer, numerous questions remain on how to manage risk, whether it be with prices or inputs. When it comes to in-season decisions like whether or not to spray fungicide or insecticide, it’s imperative to look at return-on-investment and not just what the cost may be. Whether it be your Seedsman, district sales manager or agronomist, plenty of resources are available to help you with those decisions.
We are all facing tight margins, but the last several years producing bushels has bailed us out of tough marketing environments. As we try to put the finishing touches on the 2019 crop, we can utilize the expertise Channel provides to make the most sound decisions possible. It’s usually in our best interest to keep our focus on net profits instead of merely costs. Good luck as you head into the homestretch.