Grain Prices Hold Steady: Farmers Told to Keep Marketing

Farmers are reminded to continue marketing their crops during harvest season, as grain prices have stabilized in the third quarter. According to Total Farm Marketing's Naomi Blohm, 'marketing is how you get paid for all of your hard work and dedication.'

Blohm recommends reviewing committed cash contracts and estimating expected harvested bushels to market more effectively. With opportunities arising from current price rallies, farmers can capture favorable prices even when they're focused on fieldwork.

Blohm suggests five tips to help farmers capitalize on price rallies: review and reassess their contracts, automate sales with preset targets, sign up for basis alerts, calculate storage economics, and recruit a marketing buddy. She notes that reownership strategies using call options offer participation in price rallies with limited risk, providing 'unlimited upside potential' without physical storage costs.

Grain prices have been holding onto third-quarter gains, presenting opportunities that haven't been available for several years. By implementing these marketing strategies, farmers can ensure they capture favorable prices and get paid for their hard work.