Field Crops Webinar 3-22-21 - Grain Price Outlook and Marketing Strategies - Matt Gammans
From Eric Anderson
In the last session of the series, MSU agricultural economist Matthew Gammans focused on addressing grain price outlook and novel marketing strategies. He first went through the recent March USDA World Agricultural Supply and Demand Estimates report, identifying the current supply and demand pressures driving global commodity markets. He then discussed novel and less conventional marketing approaches including organic, transitional, non-GMO and environmental certification programs, as well as custom contracts with food processors looking to procure grain grown using a specific set of practices. Dr. Gammans provided a brief description of what each program is, what type of premiums are typically available and where one might go to learn more.
Additionally, Matt discussed some of the buzz around carbon sequestration and carbon credits and what these might look like going forward. When considering any of these marketing opportunities, producers should identify a market before making costly changes to production practices. Securing a premium requires meeting a demand: listening to consumers and developing relationships with buyers is essential.