Everyone wants more money for the grain they harvest. It’s not always easy, you have to do your homework and have a plan. Here are three tips to get a better price for your harvest:
- Know what your area buyers are offering. If you do your homework and know the available cash bids for your grain, then you have the power to decide when and where to sell in order to capture the best prices. However, you will need to factor in the distance it takes to deliver your grain or else it could quickly cut into your profit.
Check out CashBidManager from IntelliFarms, it does all the heavy lifting for you. It provides all cash prices available within a 400-mile radius and calculates the highest price, closest price and the best profit, all targeted from your location. You don’t need to do the math or the research, CashBidManager does it for you.
- Know what you have and know who needs it. There are buyers looking for specific grain characteristics who are willing to pay premiums for the exact grain characteristics they need. The key is knowing the quality of your grain. How much oil? How much protein? How much starch?
With BinManager + Perten 9500 you can easily test the quality of your grain right on the farm and assign it to specific bins or silos. Keeping your grain separated by quality characteristics and properly conditioning it with BinManager will allow you to capture available premiums.
Once you know what you have, it’s important to know who needs it. That’s where MarketManager, from IntelliFarms, is your direct connection to processors and merchandisers who are looking to purchase quality grains straight from the farms. No middlemen, just you and the buyers.
- Don’t just sell at harvest. One way that farmers lose is by selling at harvest when the market is flooded with grain. Consider holding some of your grain to capture carry. You can often increase profits by as much as $1.25/bushel, on average, if you hold your grain for several months after harvest when the demand in the market is high.
Bonus tip! Set up CashBidManager to alert you when any of your local grain buyers offer above market prices. This is a quick way to capture additional profits close to home.
These are just a few ways to increase your profits. There are many more ways with SureTrack FARM, the complete system that helps you bring increased value and profit back your farm.