Grain Marketing: Turning On-farm Storage into Profit (Madison County)
With corn and soybean prices trading at values near or below breakeven points, it’s important to develop a marketing plan that allows farmers the ability to try and capture potential profits while minimizing risk. OSU Extension is offering three meetings this December for farmers to learn about marketing grain in a tight economy.
Farmers have the option of attending one of three meetings, featuring Jon Scheve of Superior Feed Ingredients as a guest speaker. Meeting dates and locations are as follows:
· Auglaize County: Dec 7, 5-9pm. Wapakoneta Eagles (25 East Auglaize St, Wapakoneta, OH). To register contact 419-739-6580. Pre-registration is due 12-2-16.
· Paulding County: Dec 8, 9am – 1pm. Paulding County Extension (503 Fairground Dr, Paulding, OH). To register contact 419-399-8225. Pre-registration is due 12-2-16.
· Madison County: Dec 9, 9am-1pm. Beck’s Hybrids (720 US 40, London, OH). To register contact 740-852-0975. Pre-registration due 12-5-16.
Jon Scheve of Superior Feed Ingredients will be talking about what can influence markets in the upcoming year and how to better prepare your operation for the opportunities and challenges you will be facing. Jon will explain how on-farm storage combined with forward selling, market carry, and basis appreciation can provide added income. He will also educate farmers on how hedging with futures and options can be used to protect farmers from risk.
Registration for each meeting is free and includes a meal. Pre-registration for each meeting is required. Contact the hosting county Extension office to register (Auglaize: 419-739-6580; Paulding: 419-399-8225; Madison: 740-852-0975).