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Central Iowa | Lots of talk about how we need to curb production so we can get prices back up. As a younger guy with all rented land I can tell you I'm not thinking about how we can increase price, I'm thinking about how can I cut unnecessary costs and better implement and execute a marketing plan to capitalize on a price that works for my operation. Bottom line is yes, I can cut maybe $20-40/acre in costs, but this is really about the revenue side. We ALL had a chance to protect $4.30 futures not that long ago, and I'm guessing that works for most people. That's a $200/acre revenue swing compared to today's futures. I was as guilty as others in not selling enough new crop corn as I should of, but that's a me problem not a market problem. I personally have learned a good lesson here about target orders, implementing a strategy and MOST importantly executing that strategy. There was a good opportunity to lock in a very good profit for anyone who has a good crop in the field, the market isn't to blame for lost opportunities. There's no shame in admitting I made a wrong call and acknowledging that I need to learn from it. To those who don't have a good crop in the field, I feel for you. | |
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A look in the mirror
