With the volatility that is in the marketplace it is very critical to try have a handle on your risk management strategy. There are many ways to do this in terms of people and products. Traditionally farmers had to communicate through brokers to eben get updated futures prices. With the advent of 3G networks and mobile farmers now have the ability to input data and get reports while on the move.
At FarmTech 2011 in Edmonton, Remi Schmaltz from Dynagra demonstrated their new product called KnowRisk. The premise behind KnowRisk is that it focuses on the management of your financial margins and not just price. One thing that did impress me about KnowRisk was the graphs and visual aspects of the reporting really captivate the user. The program does have a cost that may defer some smaller growers but for the large grower the program does look very powerful.
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