Risk management strategies for farmers
- Published on Monday, 21 January 2013 19:32
- Written by Mike McClain, Web Editor
Most would agree that farming, by its nature, is filled with risk. Whether growing soybeans or wheat, farming 500 acres or 5,000, growers face risk and worries around weather, input costs, yields, market demand, and volatile grain prices -- just a few of many factors creating risk within farming.
There is no way to completely eliminate risk, but there are strategies to manage it. Given our combine rental business and grain marketing technology, our discussions with growers center around three risk management areas: