I’ve been fortunate to take a little time and travel through Nebraska and part of Wyoming the last few days. Unfortunately, we saw some pretty ugly fields, houses and even vehicles that reaped the damage from storms in the previous week. Even though we experienced some of the storms ourselves during the trip, we had to keep remembering how fortunate we have been here at home this growing season. Just when the weather heated up, and rains seemed very few and far between, we get a glimmer of hope, and some rain comes our way. I woke up this morning to another nice rain at home and from the sounds of it, it seemed to be pretty wide-spread here in Nebraska. I don’t think anyone will complain about that!
This growing season sure isn’t over yet, but we are one step closer to bringing in another great crop. Sometimes we hear comments about wishing someone else experiences a drought or something wipes out our entire crop so that markets can move higher. Don’t get me wrong; I’d love to see higher commodity prices, but on the flip side, I also like to see us grow a crop. I don’t think I’m the only one in this boat! I don’t enjoy seeing dry areas, fields damaged by storms, or cattle not being turned out on pasture. We still have to raise a good crop in order for everyone to eat, and we have to have a good crop in order to sell it. This year looks to fulfill both of those needs, so I’d say that we are pretty darn lucky.
Sure we have a big crop coming at us, but the markets are ugly!! I won’t argue this point at all. This year has sure been full of surprises, some for the good and some for the bad. This is where the risk management piece comes into play. If you haven’t already, check out Greg’s blog from last week where he talks about the key fundamentals to sound risk management. These are imperative to keep in mind all throughout our marketing plan. If you have more questions on any of the fundamentals of marketing, reach out to one of our Risk Management Consultants.