Getting the planter ready is always job No. 1 this time of year. Ryan Hough, marketing manager for planting and seeding for John Deere, reminds you that today, planter prep is also about making sure monitors and computer software are ready.

Other experts suggest thinking through planting logistics. How will you supply the planter with seed and fertilizer? When will you start planting soybeans versus planting corn? If you’re going to plant both at once, is everyone who will help on the same page?

It’s hard to underestimate the importance of being ready for the first suitable day for planting. If your planter has electronic row units, each row is essentially a planter. Most companies provide instructions in planter manuals so you can test accuracy on these electronic row units in advance.

The late Howard Doster, longtime Purdue University Extension agricultural economist, emphasized that an untimely breakdown during a suitable planting day can be worth several hundred dollars per hour.

That’s so, Doster reasoned, because time lost in the prime planting window will be made up at the end of the season. That could mean lower yields and lower potential gross income.

Remember marketing

At the same time, there’s another important job during spring months. In fact, some ag economists might argue it’s as important as getting the seed in the ground in a timely and efficient manner. That job is beginning to market the corn and soybeans you’ll grow this year. If you haven’t already started selling, you may want to zero in on opportunities. It’s also a time to price 2019 crop still in storage.

Chad Hurt, an Extension ag economist and marketing specialist with Iowa State University, recently noted that history bears out that the highest prices for corn and soybeans during the calendar year often occur in the spring months — typically April, May and June. He realizes other factors can create blips in prices, so this strategy may not work every year.

However, he observes that over time, during these months, when most farmers focus on getting the new crop planted, market prices tend to be higher than at other times during the year. His message is simple: Focus as much on marketing opportunities during the spring planting season as you do on getting the planter ready to go.

Rich Morrison, a marketing specialist and vice president of farm services for NAU Country Insurance Co., believes that strategy could be very important in 2020 for both corn and soybeans. There are many variables, including world events, but there is also the strong possibility of increased planted acreage compared to 2019 that could pressure prices.

Morrison pays special attention to getting some 2020 crop priced by the time it goes in the ground. He notes that you can use a variety of tools, including hedging and placing puts and calls, to put a floor under prices for at least part of your 2020 crop. Currently, he backs a strategy that would put a floor under a price while leaving room to participate in some upward movement, if it occurs. He does this through puts and calls.

“I would set price goals and think strongly about having a portion of my 2020 crop priced as I plant this year,” he concludes.