Cory Walters is a grain marketing specialist and Jessica Groskopf is an agricultural economist. Both are with the University of Nebraska-Lincoln.

Given the high levels of commodity prices write now, what should a good marketing plan look like to ensure farm survival? F

Farmers have seen volatile markets and upward moving prices in the past. However, the 2021 commodity marketing environment is not one we have experienced recently. As the U.S. farm economy comes out of an extended period of low prices, farmers are feeling the pressure to lock in higher prices but are hesitant as they do not want to miss the market high by pricing too early.

So, how can you make decisions about pricing new crop grain that you can feel comfortable with? There are two elements we want to highlight that we believe can assist in the pricing decision. First, you need to have a reasonable understanding of forces driving the market and potential impacts. Second, you need to have well defined farm goals and objectives.

Read the article at farm.unl.edu.