Data Data Data (and no, this is not about GDPR!)
In a recent meeting, the Graindex team were asked, “But what is data, what can we do with it and what value does it really have?”
So, we thought of three points where data is key when deciding to sell grain (and one “bigger picture point”):
Data from samples. Get samples done! Preferably draw samples yourself, noting where they come from in the heap. 1 sample per 100 mt for milling wheat and malting barley, and 1 per 200 mt for feed wheat and barley. Send the samples to an independent testing lab. We can help with some contacts if you need.
Get data from market reports and listen to all the market gossip. Register to receive reports from far and wide, there are plenty out there that are free, for example Barchart.com allows you to watch the futures market. Then you decide when you want to sell your grain. Don’t get caught on the phone in a field, list on Graindex when you’re ready and get bids from top buyers.
Know your own data. Know your cost of production, break even and minimum price. Profit is not a dirty word.
The Biggie
E Grain passports have been a massively missed opportunity for farms and merchants to iron out supply chain inefficiencies. Here are some benefits if E Grain passports were properly adopted and data was shared:
Farmers would have more understanding
Farmwes would have the ability to manage variability in stored grain,
Farmers would be able to provide vital feedback relating to fertiliser usage etc.
Merchants would be able to ensure grain is being moved in the most economic way. This could lead to more effifcient haulage, and possibly passing some of those benefits back to the farmer.
We urge everyone to complete the AHDB’s “request for views” consultation paper. The main focus of our response will be highlighting the bias that the industry has towards inputs. The industry has been led by inputs to a point where marketing grain is a taboo subject, when it should be a focus.
