Saskatchewan’s Ministry of Agriculture held a series of Grain Marketing Workshops around the Province this week.
Farmers had a chance to learn more about grain contracts and how to make them work for you during this week’s workshops.
John DePape President of FARMCo says while there are a number of contracts available, he sees an advantage to working with futures and options.
"I like farmers to look at futures and options because it keeps them very flexible in term of who they sell to and possibly at a better basis level," DePape said. "The use of futures and options, if used properly, are the key to adding value to your farmer."
He notes producers do have an impact on the market.
"Farmers can be empowered to not sit back and take what is offered in front of them. If they do things a little differently, they can dictate when they want to deliver and take advantage of some of these carrying charges of what we call basis appreciation," he said.
He says what farmers do in the market has a significant impact on price.
When they deliver more than the system wants maybe at harvest the price goes down, while it tends to go up towards the end of the year.
Today’s Grain Marketing Workshop is being held in Saskatoon.