Conferences
Incorporating Spatial Grain Price Information in Marketing Plan Development By Website Delivery
Ward Nefstead
Summary
Computer technology has allowed more access to and incorporation of information in making marketing decisions. The availability of spatial price information and display of maps by use of spatial mapping programs now allows new perspectives on marketing decisions. The refinement of "where to market" decisions by focusing on the most profitable locations net of transportation can add significantly to farm revenues. The author will present decision tools incorporating spatial price information as part of a grain price website and will demonstrate how this combination can improve market prices. Forecasting of season prices and basis are also incorporated in this website by utilizing spatial price projections and Excel addons including neutral network forecasting models. This information can be incorporated in several marketing plan models also written in Excel. A sample marketing plan will be generated for a sample farm using this web technology.
Presentation Materials
Details
| Conference | 2005 National Extension Risk Management Education Conference |
| Presentation Type | 30-Minute Concurrent |