SA grain producers are set to navigate the world of grain trading and pursue new market opportunities with greater confidence thanks to a new industry-led initiative.
A guide to marketing grain: Understanding why the market moves, and what you can do about it is a new 56-page booklet commissioned by Grain Producers SA (GPSA) for SA growers, produced by grain marketing experts Thomas Elder Markets and made possible by the state government's Regional Growth Fund.
Primary Industries Minister David Basham officially launched the latest iteration of the Beyond the Silo grower education campaign on Wednesday at the Flinders Adelaide Container Terminal at Outer Harbor.
"The state government is pleased to support this project through the Regional Growth Fund, which is aligned with the SA Grain Industry Blueprint vision to create a $6-billion industry by 2030, to further our ambition to create a $23 billion agriculture sector," he said.
"The release of the guide to marketing grain also coincides with the 2021 harvest, with current crop estimates indicating another strong year."
Freeling grain producer Corbin Schuster said the new booklet was an ideal resource for growers looking to better understand grain marketing and manage risk in their own farm enterprise.
"It has been really well-written and explains grain marketing in simple terms, with many practical examples and scenarios to better understand how the market moves and what can be done to diversify risk."
GPSA chief executive officer Caroline Rhodes encouraged growers attending the Yorke Peninsula Field Days next week to visit the GPSA stand and collect their free copy of the booklet and other material produced to support the campaign.
"As part of our Beyond the Silo campaign, we have partnered with Grain Trade Australia to publish free resources to help growers better understand grain contracting and trading rules," she said.
"Growers can also listen to a series of Beyond the Silo podcasts to explore grain marketing fundamentals and brush up on their knowledge in advance of harvest.
"The Beyond the Silo podcasts explore the drivers of grain markets and explain key topics such as pricing, futures, foreign exchange, basis, when to sell, contracts and what to do when a contract goes pear-shaped."
Through project funding, a series of Beyond the Silo workshops were held across the state earlier this year, with more opportunities for training being planned to coincide with the Growing SA conference being held at Hahndorf on February 24-25, 2022.