• Profit Manager is an online system that allows farmers to view how profitable their farming operation is at all times.
Growers Edge has introduced a new and free online tool to assist grain farmers in tracking the profitability of their farming operation, helping farmers make more informed marketing decisions that will enhance their profitability.
Profit Manager is an online system that allows farmers to view how profitable their farming operation is at all times. They can establish profit goals, edit input costs, record marketing transactions, view recent trades and upcoming deliveries and track their profitability by crop and year.
Profit Manager calculates these numbers to show farmers how they are doing in relation to their profit goals. The program also displays total revenue of sold and unsold bushels to date, including futures and options trades by farm, acre and bushel while tracking farm profitability in real time.
“Today’s volatile markets demand a disciplined approach to grain marketing,” says Craig Mouchka, president of Growers Edge. “Profit Manager gives farmers the tools, strategies and alerts to create and execute a marketing plan designed specifically to increase their profitability.”
Profit Manager determines the price per bushel needed to meet profit goals and when it’s most profitable to sell bushels by easily organizing and tracking key data that has an impact on the farming operation’s breakeven and profitability.
Farmers define their profit-per-acre goal and Profit Manager calculates the per bushel price needed to meet the profit goal. The per bushel price needed is determined by comparing the profit goal to the average price received for sold bushels and using the local elevator price for any unsold bushels.
“For convenience, the initial input cost and yield data are set to a default setting,” says Mouchka. “However, a farmer can adjust these default settings at any time to more accurately reflect their individual farming operation.”
The Profit Manager system provides a daily report — via text message or through the growers-edge.com dashboard — informing the farmer if their profit goal per bushel has been met or exceeded. The system will also list the elevator locations that are offering the best cash price bid.
“I use Profit Manager to calculate my breakeven and set profit goals for our operation,” says Larry Thorndyke of Ford County, Ill.
“It tracks my profitability and I believe it has helped me make more money. It’s helped me lock in my profitability.”
Growers-edge.com provides farmers a free, one-stop resource for their business and marketing needs. Currently, more than 11,000 farmers use growers-edge.com to help enhance their profits.
For more information, and to sign up for the cash bids system and other free features from Growers Edge, go to www.growers-edge.com.