How would you go about writing a short, practical plan to buy grain?

Grain marketing (selling) vs. grain buying appear to be simple opposites. In reality, these tasks are quite different. When grain prices are low, producers with storage have the option to defer pricing decisions for long periods of time. Grain buyers, on the other hand, must buy grain on a regular basis to keep livestock (or a processing plant) fed. High prices may force the buyer to make hand-to-mouth (i.e. minimal) purchases, but grain will be purchased.

These videos will help you develop a plan to buy grain. A plan to buy grain must balance the short-term need to never run out of grain against the year-round desire to “buy low” and secure grain at a good price. A good plan to buy grain also needs a clear goal. As a buyer, are you trying to hedge costs, or hedge margins in feeding or processing grain?