Grain Presenters Assess Markets, Crop Insurance
The Grain Division presentation Feb. 10 to Virtual Convene ’21 viewers brought insights about conventional and organic grain marketing programs at National Farmers, and about National Farmers Crop Insurance choices for 2021. For the Grain Marketing Plus World of Marketing presentation, Theresa Seiler, grain marketing representative, emphasized the importance of risk management strategies and market monitoring in the service National Farmers provides to producers.
Seiler shops for new buyers and bids for members’ grain, urges producers to plan grain sales and proceed to implement the plans. She explained the Grain Marketing Plus multiple sales approach, and listed a variety of strategies used; futures first contracts, forward contracts, basis contracts, options and spot sales.
Harold Walker, national board member and grain committee member, presented NForganics Program Manager Mike Schulist with a Meritorious Grain Marketing Service award. Schulist and the staff have nearly doubled the volume marketed through the program. Schulist said he encourages producers to farm with diverse rotations. He suggested when adding a new crop into the rotation, start with a small number of acres to test it.
NForganics represents producers through every step of a transaction, and NForganics professionals are able to negotiate premium prices, he said.
National Farmers Crop Insurance Agent Al Smith reminded producers of the March 15 enrollment deadline, and advised producers sign up for direct deposit to receive a claim payment within 48 hours after a claim is closed. Smith urged diversifying coverage in 2021, in terms of some coverage being based on your individual farm, and some based on area or county. He highlighted a policy add-on, Enhanced Coverage Option, which can work with multi-peril policies, covering from the 86 percent to 90 percent level, to improve coverage above the 85 percent provided by federal crop insurance.