Economist urges risk management
An ag economist is urging farmers not to become complacent in light of recent grain price runups.
“There were a lot of sleepless nights a year ago and we can take comfort in that things are a lot better this year, the outlook is a lot better,” Said David Widmar Co-founder of Ag Economic Insights. “But, we need to untangle the uncertainty that’s before us with the favorability of the outlook.”
Widmar tells Brownfield market uncertainty needs to stay top of mind even with a strong outlook for grain prices. He recommends…
“Discipline with our marketing plans, with our risk management plans and even with how we go about our resources,” he said. “If there’s a chance profits here in 2021, how are we going to use those.”
Widmar said farmers should use current market strength to better position their farms for success down the road.