How's Your Merchandising Scorecard Looking?
Preparing monthly financial statements is typically done so you can get the proper financing for your merchandising activities; but there are also...
Winter is in many ways the middle of the marketing process for producers. Sales to make space at harvest and generate necessary cash flow have already happened and the remaining bushels will be sold either out of necessity (as in, more cash flow) or as part of a marketing plan. It is at this stage of the marketing process that you can have some your most meaningful marketing discussions. Here are a few talking points to consider:
There is a lot of stuff happening in the world to impact prices
It’s easy to build a case for higher prices - and it’s equally as easy to build a case for lower prices. Fact: NOBODY KNOWS FOR SURE! This uncertainty is stressful and can be a huge distraction but there is no opportunity without uncertainty. A strong written plan with specific price targets will take away some of the emotional impact of volatility and give you a higher probability of seizing opportunity when it occurs.
These points hold true for both getting rid of the rest of old crop and getting started on new crop sales. Selling based on profitability is NEVER a bad idea. Staying disciplined when making sales like this is not easy, but it does lead to long term success. Using targets or firm offers to keep in front of the market and make that next sale is the best way to achieve success in your marketing.
When it’s cold and nasty out, it’s the best time to spend getting your marketing plans together and get those targets in.
Preparing monthly financial statements is typically done so you can get the proper financing for your merchandising activities; but there are also...
Grain companies can still see profitability in a tough economic environment.
Winter is in many ways the middle of the marketing process for producers. Sales to make space at harvest and generate necessary cash flow have...