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Growers make common marketing mistakes, but there are still opportunities

An assistant ag economics professor at Purdue University says there are some common marketing mistakes growers make including holding grain in storage too long and reluctance when it comes to pre-harvest marketing.

Nathan Thompson says advice he has, based on this year, is to consider crop insurance.

“If you have crop insurance that lends itself to doing some pre-harvest marketing,” he says. “This year that would have paid off—that’s kind of back looking, but hopefully we have some folks who made some moves this summer when we had some rallies.”

He tells Brownfield there are still some market opportunities yet this year.

“I do think that there will probably be opportunities for storage returns— the carry in the futures market right now is relatively strong,” he says. “There’s a lot of uncertainty of what’s going to happen going forward, but once combines start rolling, we’ll get a better idea of where basis is going to go. The futures market at least is giving us signals that there will be opportunities.”

Thompson spoke to Brownfield at the Purdue Extension Crops Field Day this week.  

Audio: Nathan Thompson, Purdue University

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