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| And....is the way it should be and hopefully will improve....The grain industry is one of the few in which producers frequently rely upon competitors for some advice. The exporter or terminal merchant is a competitor..in dealing with local elevators, they know which have certain selling patterns & which are the sophisticated basis traders, or if they are flat price sellers. Marketing is one of the key elements of management. Learn your basis...in markets such as this...the basis will be difficult to impossible in markets such as we are in & learn spreads...& don't speculate in futures. A number of years ago a cooperative group made the mistake of having me in to speak.....one of the participants kept on & on about the big firm up north.....finally tired of it I asked him what his grain margins had been the prev. year...they were ridiculous...I told him perhaps if he was less enamored with his competition and made some of his own decisions...his margins might improve....I was never invited back. | |
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Farmers beat market advisory services on wheat prices
