August 1, 2012 officially changes the way the wheat producers and industry members do business out west. With that date spelling the end of the single desk marketing system, farmers, buyers and processors have to look closely at their respective businesses and adapt to a whole new ball game. For some involved in the industry, it means a restructuring of their operations, for producers it brings a new level of diligence in watching the wheat markets. While a number of producers are excited about this and have already started contracting sales just because they can, other farmers are waiting as long as possible to see how things will begin to play out. One way or the other, it’s something that has to be dealt with.
In this episode of the Wheat School, we talk to Brenda Tjaden Lepp of Farmlink Marketing Solutions about the realities of this new market system, some of the fallout, the changes we can expect and some of the things producers can do to deal with it.
If you cannot see the embedded video below click here.