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Five Common Mistakes in Grain Marketing

During GrowingOn® 2020, Edward Usset explored a different approach to marketing. Great marketing is not predicting prices but eliminating mistakes in everyday decisions. Ed identifies common mistakes in marketing, like reluctance towards pre-harvest marketing and holding grain in storage too long. See how eliminating mistakes improves marketing plans.

  • Production cycles are enduring and should be considered when developing a proactive marketing strategy. Take the long view of marketing.
  • An imperfect marketing plan is better than no plan at all.  A plan is a benchmark for goals and gives you something to adapt in a changing environment. 
  • Know your local basis and understand the value of a pre-harvest marketing strategy. Make sure you have an exit strategy for the grain in the bin. On July 1 revisit your exit strategy.

Edward Usset presented in Grand Island, NE on December 10, 2019.

 

Ed UssetEdward Usset serves as a Grain Marketing Economist for the Center for Farm Financial Management at the University of Minnesota. He is a columnist, educator and author of the book “Grain Marketing is Simple (it’s just not easy).”


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