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The turning of the calendar year brings along a natural time of reflection, planning, and goal setting. We rounded up some questions to reflect upon as you strategize and plan your best year yet: next year.
- Do you take firm offers today? How? Have you had any issues? Who manages the offers/hedges, what else do they do? Do you hedge with more than one Broker/FCM?
- How often are you fielding calls from grain sellers regarding questions on current contracts or grain deliveries? What could you focus your time on if you weren’t managing these administrative tasks?
- What percentage of your time is represented by administrative tasks with your customers? What could you focus your time on if you weren’t managing these administrative tasks?
- Tell us how grain quality impacts your merchandising decisions? How do you acquire information on the quality you have in house & the quality you are shipping out? How would increased accessibility of this information impact your decision making? How do rejected loads impact your business & margins?
- How do you manage what has shipped out and balances on sales contracts? How would increased visibility of balances on sales contracts impact your merchandising approach and margins?
- What are some of your biggest challenges?
- What would happen if you didn’t do anything and kept the process the same?
Bonus Question: What goals do you have for 2023? Increased handle? Number of Growers? Etc. Are you looking to increase your grower count or increase your bushels from your current growers?