Market News & Headlines >> Brock Consultant Katie Hancock's Blog: The Backbone of My Marketing Plan
Insights from Brock Associates Consultant Katie Hancock
I feel it’s helpful to share exactly how I start a grain marketing plan. I’ve been working on the 2015 plan since last July, but now we are at the crunch time to make final adjustments.
I start by making a spreadsheet, listing each field on the first column. On the column beside each field name, I note the acres and crop share or cash rent. Next, I create headline rows at the top of the spreadsheet separating each crop. With a simple excel formula, the spreadsheet multiplies my share of the crop.
For example, I may only be selling for 75 acres of a 100 acre field if the landlord keeps 25%. So under the corn headline, I would show 100 acres farmed total and 75 acres is my share. This is helpful because I can see the total acres of each crop I’m farming and my share for marketing purposes.
I started this spreadsheet in the winter from our crop plans. Why is it more important now? Because you have actual planting notes to fill in. If you swap fields around contrary to the original planting intentions, the acres in which to sell may be changed due to rental arrangements like crop share.
Farmers are notorious for keeping this information by memory, but I don’t have room for mistakes. I can’t afford to sell the wrong amount at the right time or vice versa! Knowing how many acres and bushels I have to sell is the first step to a successful plan.
I’m looking forward to sharing some tips and learning new information at Brock Associates’ Commodity Classroom Aug 6-7 in Milwaukee. Hope you can join us.
Email Katie at [email protected]