Farm Credit Canada is holding Ag Knowledge Exchange events this week, to help producers improve their management skills and get some insight from experts.
Grain Marketing Expert Brian Voth was one of the keynote speakers.
He talked about what he calls the 'seven deadly-ish sins of grain marketing'.
"Really what came about was 'what are the common mistakes that farms tend to make when it comes to their marketing plans?' and 'how do we address this?'. What I like to call it is a How-to Marketing Plan, but in reverse. We're going through the mistakes that farmers typically make, then by trying to avoid them, coming up with a better marketing plan for the farm," he said.
Voth also told producers that even though last season was challenging with many areas receiving excess moisture, every crop year is independent of the other, and they should approach their grain marketing in that fashion.
"We have to go off of long-term averages. To me, 2016 is the anomaly - it's not the norm. That's where these long-term averages when we're budgeting, and building the plan around that. Not saying to forget about 2016, because it's definitely a cautionary tale when we're talking about forward pricing and managing that risk. But, the principles have to be applied independently regarding what happened last year," he said.
Source : Steinbachonline