Profitability Calculator Assists Farmers

With crops in the field, now is a good time for farmers to review their grain marketing strategy. Matt Bennet is a farmer, commodity broker and grain marketing consultant for Channel Seed Brand. Bennet says farmers need to figure out their break-even numbers if they haven't already.

Bennet developed a profitability calculator provided by Channel online that allows farmers to calculate their profitability potential.

Bennet: "If you can go to channel.com you see the calculator in a little different form than what I created but with all the exact same formulas. Once you get all of your  information plugged into there — as far as what you are spending. It's got a customizable aspect to it. You can figure those things in and then once you plug in what your yield forecast is — I know what my break even price of corn or soybeans is. The other way of looking at it you put in all your numbers in other than yield. You put in what the price is today and it tells you what yield you will need to get at today's price."

 

He says the calculator can help farmers make marketing decisions in real-time and help to take the emotion out of the process.