Brock’s session was packed with attendees hoping to gain insight into commodity markets. When asked about key takeaways for producers, Brock encouraged growers to shift acres to cotton if they’re in a cotton producing area as he sees the downside risk being minimal and upside potential being greater than most are anticipating. Brock mentioned soybeans having considerable downside risk in the market, and although there is temptation to plant more soybean acres due to lower costs, Brock says that by year’s end, they will wish they’d planted cotton.
In reference to how to double your money with corn, Brock cheekily stated, “Fold it in half and put it back in your pocket.” Particularly in non-irrigated areas, he says there is greater upside potential by planting acres to cotton versus planting acres to corn as weather risks have a much larger impact on corn on non-irrigated acres. Brock also stressed the importance of knowing how to make decisions in the market versus importance of knowing price direction.
Listen to Chuck’s interview with Richard Brock at the recent Mid-South Farm & Gin Show: Interview with Richard Brock, Brock Associates