By Jeremey Frost
This is Jeremey Frost with some not so fearless comments for www.dailymarketminute.com
For those of you that listened to the audio comments from Friday the 18th I mentioned I would be listing off some of the reasons why I think we will most likely make new all-time highs in most of the gains in 2023.
But before I get to that I want to make sure to be clear that proper risk management is still needed for most. That risk management plan should be different for nearly every operation based on one’s risk and reward profile. If you need help determining where you should be, take our grain marketing plan questionnaire at https://www.dailymarketminute.com/grainmarketingplans. If nothing else, just looking at some of the questions should help one think outside of the box a little bit and determine what the correct approach for you and your operation is.
Here is a screenshot of just a few of the questions. But this screenshot includes what I feel are two of the most important questions and answers.
Risk tolerance rating 1-10 being very important. But the best answer that sometimes doesn’t align with any other answer for a marketing plan is the question highlighted below. Profits over time.
One has the choice to make $10 million, $12.5 million, $18 million or $21 million over a 10 year period. On the surface, everyone wants to answer $21 million, but very few can and will.
So please go ahead and do this marketing plan questionnaire and we will send you back a marketing plan based on your answers along with our market opinion.
The bottom line in all the answers to these questions will help you do what you already know you should be doing. Should you be selling? Should you be waiting? Grain Marketing advisor’s number one job is to help get it’s customers where they should be in terms of risk management. The job isn’t to always outguess the markets. It is important to have a valid opinion of what the markets may do and why, but it is more important to help your customers be successful. The definition of success according to Earl Nightingale is “Success is the progressive realization of a worthy goal or ideal.”
So in the example of having the choice of making $10, $12.5, $18, or $21 million over 10 years with the staying power that aligns with that choice reaching your objective is success. So both the guy making $10 million and the guy making $21 million can be equally successful.
In other words the guy that sells some corn at $6.00 because it is profitable and gives him comfort can be as successful as the farmer that waits for the new all-time highs and then cashes out.
Bottom line is I think we are going much higher and I am going to lay out some of those reasons in the rest of this article, but to read the rest you will have to subscribe and just because I know the probability is very high that grains make new all time highs does not mean that it is correct for you to not be doing some sort of marketing. Answer the questions on our grain marketing plan page and get a good sense of where you should be at.
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Included in this week’s full edition
Spring Wheat Basis
Why grains will hit new highs
Acre War & World War
Brazil & Argentina
Nov 21, 2022
Weekly News Letter
Nov 20By Jeremey FrostThis is Jeremey Frost with some not so fearless comments for www.dailymarketminute.com For those of you that listened to the audio comments from Friday the 18th I mentioned I would be listing off some of the reasons why I think we...
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Categories: Ag Commentary, Farm Management, Marketing
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