Futures Markets: Where do they fit in my marketing plan?

Crop producers in Nebraska have a number of market options to consider each year. The proper use of these tools and the timing of sales are the keys to successfully marketing strategies. The keys to a good marketing plan are knowing what it cost to produce the crop, both cash costs and total costs, understanding the market, setting sales goals, and making sales when those goals are reached. For corn producers, the highest price for the year occurs between February and July each year. The exceptions over the past 10 years were 2002 and 2006. Knowing the markets and having tools in place to make these sales may make the difference between capturing a profitable price and losing money on the corn crop