How did you do? Evaluating your 2024 crop marketing

The 2024–2025 marketing year ended on August 30. According to USDA estimates, the average national farm prices were:

• Corn: $4.30
• Soybeans: $10.00

Now is a good time to evaluate how well you marketed your 2024 crop. To do this:

1. Calculate your average selling price by adding up all your grain sales and dividing by the total bushels.
2. Compare your average to the USDA national average and the southern Minnesota baseline average, which tends to be slightly lower.

Benchmarking using the Southern Minnesota baseline average

Starting in January of the planting year, we recorded new crop bids on the first Friday of each month (January–October) and spot bids from November to August following harvest. This gave us 21 price points from the Crystal Valley Co-op in Jackson.

The baseline average prices for the 2024 crop were:

• Corn: $4.12
• Soybeans: $10.07

Price range observed

• Highest prices:
  • Corn: $4.44
  • Soybeans: $11.28 (January 2025)
• Lowest prices:
  • Corn: $3.54
  • Soybeans: $9.09 (September 2025)
• Price range:
  • Corn: $0.90
  • Soybeans: $2.19

Benchmarking with RankEm

Use your RankEm and enterprise analysis to benchmark your marketing performance.

The January 1 crop value on your 2024 enterprise analysis is calculated by:

• Averaging cash sales from October to January 1.
• Adding forward contracts.
• Valuing the remaining inventory at the January 1 price.

Compare this value to:

• Your actual average selling price.
• Your peers’ performance in the benchmark report.

Ask yourself:

• Did you sell above or below the WASDE, the baseline average, or the Enterprise Analysis value?
• Is marketing a strength or an area for improvement?

Reflect on your marketing strategies

Consider these strategies to improve your marketing outcomes:

• Sell more frequently to reduce emotional decision-making and improve the average price.
• Plan ahead for cash flow and storage to avoid selling during seasonal lows.
• Delegate market monitoring during busy times to avoid missing good opportunities.
• Review markets weekly:
  • Check USDA reports.
  • Compare WASDE estimates to local bids.
  • Track price trends.
• Explore all bid options, including deferred delivery.
• Time your sales: Spring and early summer often offer better prices.
• Have an exit strategy: Prices often bottom out in late summer and fall.
• Track inventory and sales to avoid bin-level surprises.
• Profit matters. Any sale above your cost of production is a good sale.

With tight margins, even minor improvements in marketing can make a big difference to your bottom line.