(Le Mars) — Farmers are facing continued low commodity prices, with not much hope for improvement. However, according Ed Kordick, an Iowa Farm Bureau Federation marketing specialist, farmers stand a better chance of earning profits if they implement a marketing plan that includes forward contracting and selling their grain during the spring months of the year.
Kordick is traveling throughout the state and visiting with farmers about the importance of having a marketing strategy, as well as the discipline to follow the marketing strategy. He says the marketing strategy may not work everytime, but over the course of time it will prove to be successful.
Kordick suggests farmers take out crop insurance as another means of risk protection. But he says farmers need to follow their pre-determined specific marketing dates from their marketing plan.
The Iowa Farm Bureau marketing specialist says in order for farmers to be successful marketers, they need to know their cost of production, remove emotion when making decisions, have a marketing plan, and have the discipline to follow that marketing plan.