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Contributor

How have you all...

learned about marketing?

 

I've been farming for five years in eastern Washington.  I grow corn, beans, and spring wheat.  In the past I've dabbled with looking at blogs and market updates.  I track the price daily with text updates I get from the co-op, but I feel these are all very reactionary.  I'd like to develope a proactive strategy.  So with that, does anyone care to share with me their ideas or strategies on marketing crops?

 

Appreciate it.  

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14 Replies
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Senior Advisor

Re: How have you all...

It'll cost you a few bucks, but it might be worth checking into using a marketing advisor.  They could make recomendations on cash sales as well as using futures/options to help you develop a marketing strategy.

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Contributor

Re: How have you all...

Is there information they have access to that isn't readily available to everyone?


@Shaggy98 wrote:

It'll cost you a few bucks, but it might be worth checking into using a marketing advisor.  They could make recomendations on cash sales as well as using futures/options to help you develop a marketing strategy.




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Senior Advisor

Re: How have you all...

Probably not, they just are experienced at looking at charts and historic averages.  Many of them have boots in the pit and may receive information a little sooner.

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Contributor

Re: How have you all...

Hmm... I wonder if there is anyway to get some training for that without having to go back and get an AgEcon degree.  I know I'd do it.  Tired of going with the ol' gut feeling.  

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Senior Advisor

Re: How have you all...

This website just had a marketing academy last fall, you might sit tight and see if they offer another one in the future.  It wasn't free, but I was told the information was very useful.

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Senior Contributor

Re: How have you all...

Or make friends with a "big time operator" who subscribes to multiple services and follow what they do. I only farm a few hundred acres and it is hard to justify the subscription fees. Someimes I get the info I need a few days late but generally I do ok.

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Contributor

Re: How have you all...

I'm in the same boat.  I'm only doing a few hundred acres myself, leaves a pretty small margin for extra marketing consultants.  To be perfectly honest I haven't heard or many people using those services around here.  

 

Any self taught people out there?

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Senior Advisor

Re: How have you all...

Do everything you can to inform yourself with news sites available on the web. Anything from Agrimony to the English version of Business Recorder from Asia. Don't be afraid to check in on English versions of worldwide newspapers. Google will help you with that by matching a crop name with news outlets for different countries. IGC (International Grain Council) has good monthly reports. Learn how to get general reports on commodities of predictions and histories from the USDA and bookmark them.

 

Know which countries or areas (EU) rank in production and exports (or imports) for your commodities. The US is #3 in wheat. #4 if you use the EU.

 

Do it for long enough and you'll have a frame of reference that will help you either discount or add value to what gets reported. Keep in mind that China's behavior and needs are going to determine a good share of market trends for a long time.

 

I've done this long enough that I developed good personal/professional contacts that are interested in information and are willing to share it in return for the occasional information or perspective of a farmer. It's a world wide net. I'm not saying that knowing the overnight temp in a wheat field in Argentina is going to determine a sale but getting a general idea over tim,e will give you a feel of the real trends (and I don't mean the paper trade)..

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Contributor

Re: How have you all...

Hey thanks Palouser.  I'm assuming you're a fellow coug?

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