ADM has launched Shift, a complimentary, online course for producers that covers core areas of farm management, including grain marketing, crop insurance, fertilizer and input costs, market fundamentals and general financial planning strategies.
Shift stands for “Successful Habits In Farming Today,” and gives producers an engaging new way to learn and advance their farm business.
Interactive course helps navigate farm management
Through the course, participants will have access to information in a variety of forms, including audio and video lessons from course contributors; quizzes to test knowledge of learned material and key principles; and sample worksheets and calculators to run production costs, price targets, insurance estimates, fertilizer prices, storage investments and other related budget items.
“Everything we do starts at the farm, and when producers succeed, the entire agricultural value chain benefits,” said Doug Roose, vice president of Producer Marketing for ADM’s Ag Services and Oilseeds business unit.
“Producers are in the driver’s seat of their own business, and our goal with the Shift program is to help producers to learn to navigate the key principles and variables that can lead to success.”
Producers can learn at their own pace
Shift is broken into six lessons, featuring industry leaders like Ed Usset and Paul Neiffer, ADM experts and grain producers who make tough decisions on a daily basis.
Each contributor provides insights and information based on their areas of expertise and experience. The course is available at ADMadvantage.com and covers:
- Turn the Key: Start Your Engine with Three Habits – Focus on profit over price, planning around seasonal trends and staying disciplined with rational decisions.
- Map Your Financial Route – Understanding production costs, setting price goals, factoring in fixed costs, creating a plan and tracking
profitability are important parts of a sound financial plan. Paul Neiffer, a financial planning expert for the ag industry who works as a CPA and principal with CliftonLarsonAllen LLP, is featured in this lesson and says: “All farmers are unique and it’s important they understand their accounting system. It isn’t a cost structure. It’s a 2 profit center. The more they understand those numbers, the better off their farm will be.” - Use Crop Insurance as Marketing Fuel – Federal crop insurance policies, guarantees and forward marketing, and different market scenarios all factor in a strong grain marketing plan.
- Put the Brakes on Fertilizer Costs – Locking in lower prices, purchasing early to widen margins and considering storage options are all good options to capture long-term savings.
- Navigate the Market with Confidence – The pros and cons of grain marketing, futures and basis opportunities and different market fundamentals are important to continuously learn about and revisit. Ed Usset, a grain marketing expert and economist at the Center for Farm Financial Management at the University of Minnesota, shares practical lessons throughout the course. At this part, he notes: “If producers want to improve at grain marketing, understanding a few basics — futures, basis and cash price — can help remove some uncertainty and give them more control.”
- Put Your Execution Plan on Cruise Control – Developing a plan, capturing opportunities early, keeping it simple with offers and using a grain marketing management tool are the steps that can help set you up for success.
