A dozen ag organizations and their members came together Wednesday for the Nebraska Ag Classic and to take an look at challenges 2013 may present the industry.
Spring and planting might seem a long way off, but marketing advisor Alan Brugler of Brugler Marketing and Management in Omaha told Classic attendees that good planning for that eventual harvest starts now.
"We've been talking about the tight old crop supplies of corn and soybeans that have caused the prices to reach record levels here in 2012, talked about some of things to watch for in January," says Brugler. "We have several key USDA reports that will give us new information about how tight those supplies actually are."
Brugler says it depends on a producer's risk carrying capacity, but he recommends spreading sales out. He says that includes selling a core percentage of next year's crop now since it can still make money.
"These are unusually good prices right now, we can't count on them continuing into next fall if South America has big production and we have a decent sized crop here," he says.
Commodity Groups also hold their annual meetings during the Classic, and officials say it's so they can all do similar long term planning and focus on key issues that impact Nebraska ag as a whole.
"A lot of producers grow a lot of these same crops whether it's corn, wheat, sorghum, soybeans," says Kelly Brunkhorst, a member of the Classic's planning committee and the Director of Research for the Nebraska Corn Board. "They're also members of the various associations that are represented here with us and so it's continuing to build those partnerships and realizing there's a lot of synergies amongst us."
Working together also means looking at drought potential for next year, something Brugler says makes for a fairly explosive price potential in some crops.
"Nebraska's one of the largest production states, so any shortfall here does have an impact on the market," says Brugler.
But he says foreign market activity and how areas like the eastern corn belt recover will impact prices too.
Ag Classic attendees also heard information about election impacts on ag-related legislation and tips from Homeland Security officials on keeping infrastructure - like farms and railways - safe from potential threats.