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NC IA | Mr RowCrop:
Forward selling has always been my/our strategy.
There are alot of tools out there. Champion the basics, then slowly learn what else there is out there!
I have farmed since 2007 and now operate our entire operation myself (with my wife) since retiring my parents out last winter!
It's a learning process! Like school, if you study and apply yourself, you will succeed!
#1: Know your cost of production.
#2: Start out by using average yields to estimate your production per acre. (always error being conservative)
#3: As the season goes along, and you see the crop you do or don't have, adjust your bushel projection.
#4: Your goal should be base hits in your sales/profits! Don't wait/try for home runs, they rarely happen!
#5: Like with other areas in your operation, get a trusted advisor in the area of Grain Marketing and learn from them. Don't give them all your bushels, the best way is for you to have to do the steps yourself.
#6: I read 2-3 marketing commentaries (besides my marketing guys) EVERY morning! This will give you perspective and help you form YOUR thoughts on the markets!
#6: You will make more money in the marketing of your crop than you will in any other area of your farm. My goal: To Be an average farmer, but a champion marketer/businessman!
Good Luck to you RowCrop!
Tell me how I can encourage you any further!
YOU GOT THIS!!!
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New Crop Forward Sales Strategy
