Grains Research and Development

GRDC Update Papers

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This page contains papers from the GRDC Update series for both growers and advisers.

To download the proceedings booklets from the 2014 Updates, visit the 2014 Update Proceedings Booklets page.

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  • Farm safety and your legal requirements – addressing risk to help the bottom line

    Research Updates

    Grains

    Article Date
    13.11.2014
    Presented At
    2014 GRDC Farm Business Update for Advisers Adelaide
    Region
    South

    Understand the rights, obligations and duties under the WHS Act, Regulations and Codes of Practice
    Review current WHS policies, procedures and risk management strategies and measures
    Develop and introduce adequate WHS policies and procedures
    Review WHS policies and procedures on a regular basis
    If in doubt, get legal advice

  • Business advisory boards - the role in the family farm

    Research Updates

    Grains

    Article Date
    13.11.2014
    Presented At
    2014 GRDC Farm Business Update for Advisers Adelaide
    Region
    South

    • Is opening the farming family board or establishing an advisory panel to non family members going to improve your performance? Yes – definitely!
    • In any family enterprise, agricultural or non-agricultural, you should take the position that you are custodians for future generations. Good governance, policies and planning is about building wealth in the long term.

  • Capital - the catalyst for agricultural growth

    Research Updates

    Grains

    Article Date
    13.11.2014
    Presented At
    2014 GRDC Farm Business Update for Advisers Adelaide
    Region
    National, South

    • goFARM holds a strong conviction that ‘investment grade’ assets held in an ‘investment ready’ state can raise new sources of capital which will ultimately be to the benefit of the producer, the investor and the industry.

  • Farming Systems – Managing Profitability and Risk in SA Grain Business’s

    Research Updates

    Grains

    Article Date
    13.11.2014
    Presented At
    2014 GRDC Farm Business Update for Advisers Adelaide
    Region
    South

    • We are in a new era for grain farming and risk profiles for grain businesses have changed dramatically
    • The key factors effecting farm profitability must be assessed and managed differently
    • Debt levels and decisions around debt are now even more important
    • Planning and risk buffers must be extended to cover more years

  • Business structures for a successful family farm

    Research Updates

    Grains

    Article Date
    09.10.2014
    Presented At
    2014 GRDC Farm Business Update for Growers Forbes
    Region
    South

    1. Each farming business operation is different and should adopt a business structure that is appropriate for its unique situation
    2. Business structures may need to change over time in light of legislation, family circumstances, the degree of business growth and the external business operating environment. However, the cost of change is often significant, and the ideal is choosing a structure that will suit for a long period of time (subject to regular review)
    3. Sound risk management and succession plans are vital for a viable farming business operation

  • Help for Farm Business to manage profitability and manage risk

    Research Updates

    Grains

    Article Date
    09.10.2014
    Presented At
    2014 GRDC Farm Business Update for Growers Forbes
    Region
    South

    • Cash flow analysis shows the sensitivity of the farm business to varying seasons.
    • Mixed Farming Systems are more sustainable in poorer seasons. However, they are not as able to capture the large profits in the better years (Decile>5).
    • Leasing provides opportunity for business expansion when a business is in a low equity position.

  • Are you happy? Identifying the why in you

    Research Updates

    Grains

    Article Date
    09.10.2014
    Presented At
    2014 GRDC Farm Business Update for Growers Forbes
    Region
    National, South

    Take home messages:
    • Know and play to your strengths;
    • get your thinking right;
    • invest in yourself; and
    • it's all about choices.

  • Developing Personal and Psychological Resilience

    Research Updates

    Grains

    Article Date
    09.10.2014
    Presented At
    2014 GRDC Farm Business Update for Growers Forbes
    Region
    National

    We need to accept that life is tough and develop strategies to deal with what we encounter
    The most effective ways to develop resilience include; acceptance, listening to your inner voice, changing your self-talk, staying involved, getting comfortable with feelings, surrounding yourself with positive people and looking after yourself.

  • Grain Marketing- wheat, canola and barley outlook

    Research Updates

    Grains

    Article Date
    09.10.2014
    Presented At
    2014 GRDC Farm Business Update for Growers Forbes
    Region
    National

    • There are a number of year in year out grain marketing strategies that will work most of the time:
    o Target the January – April sweet spot for old season wheat sales and new season forward sales, and avoid selling mid year.
    o Sell malt barley off the header, but look for pre-harvest and post harvest opportunities for feed barley.
    o Look to forward sell canola in the June to August period, after your crop is in the ground, and then off the header and during the early post harvest shipping period.
    • This harvest:
    o There remains a lot of uncertainty about how this season will finish for us; yield and quality wise.
    o There are price risks as we go into our harvest this year, with a record global crop projected, but also large volumes of feed grade wheat and tightness in milling wheat supplies, and current Australian prices are at a strong premium to CBOT futures. Will that hold?
    o There should be good risk premiums in global prices in early 2015 that should suit both old and new season sales.
    • Long term:
    o The world can grow enough grain to feed itself, but grain production has to be profitable.
    o We have gone through a period of high wheat, corn and soybean prices, driven by shortages. Those high prices have triggered a lift in output to record levels.
    o On average, grain growing will be profitable, but there will be periods of low prices.

  • Wheat canola and barley outlook

    Research Updates

    Grains

    Article Date
    18.09.2014
    Presented At
    2014 GRDC Farm Business Update for Growers Horsham

    • There are a number of year in year out grain marketing strategies that will work most of the time:
    o Target the January – April sweet spot for old season wheat sales and new season forward sales, and avoid selling mid year.
    o Sell malt barley off the header, but look for pre-harvest and post harvest opportunities for feed barley.
    o Look to forward sell canola in the June to August period, after your crop is in the ground, and then off the header and during the early post harvest shipping period.
    • This harvest:
    o There remains a lot of uncertainty about how this season will finish for us; yield and quality wise.
    o There are price risks as we go into our harvest this year, with a record global crop projected, but also large volumes of feed grade wheat and tightness in milling wheat supplies, and current Australian prices are at a strong premium to CBOT futures. Will that hold?
    o There should be good risk premiums in global prices in early 2015 that should suit both old and new season sales.
    • Long term:
    o The world can grow enough grain to feed itself, but grain production has to be profitable.
    o We have gone through a period of high wheat, corn and soybean prices, driven by shortages. Those high prices have triggered a lift in output to record levels.
    o On average, grain growing will be profitable, but there will be periods of low prices.