Bertie Cooperative Extension to host workshop on grain markets
Published 4:48 pm Tuesday, January 10, 2023
WINDSOR – Grain markets can be a fickle beast. Affected by factors beyond the control of farmers, it rises and falls much to everyone’s dismay.
The North Carolina Cooperative Extension office in Bertie County, located at 104 Lancaster Ave. in Windsor, is hosting a regional workshop at 1 p.m. on Jan. 17 to discuss these and other points about profitable grain markets for 2023 with Dr. Nick Piggott, NCSU Extension Economist.
Growers from Bertie, Hertford, Northampton and Halifax counties are encouraged to attend. Registration is not required but requested to help with adequate set up.
To register call 252 724-5317 or any of the NC Cooperative Extension county offices listed above.
Recent factors affecting the farmer’s selling price for grain include weather, not just locally but in Argentina and Brazil, as well as world aggression, specifically Russia’s invasion of Ukraine, the strengthening of the dollar, rising input prices and interest rates. To complicate this more these factors interrelate at the same time. But there are opportunities for profit if the markets are approached correctly.
First on the list is knowing the cost of production followed by a realistic yield projection. With these two bits of information growers can begin to establish a plan to profitability. Next establish a price goal to cover all costs and realize that is unlikely to catch the market at its highest point every time. Maybe if you can score at 80% of the market high you have done well. Forward price or contact your production throughout the year once prices reach your profitability point to take advantage of market fluctuations and minimize your production risk.