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The Commodity Marketing and Risk Management Committees from Wayne, Ashland and Medina counties pooled their resources Jan. 28 to provide members with an important program. The message delivered in the program: If farmers wish to increase their income from the sale of commodities, then they probably must assume some market risks to do so. Any business venture involves taking risk, but what’s important is the understanding of that risk and, of course, doing what is necessary and feasible to guard against the downside of the assumed risk.

The marketing chairperson in each county – Randy Welch, Ashland; Linda Beardsley, Medina; and John Calame, Wayne – assembled a panel of experts to address the farmers at a group meeting held at the Wayne County Schools Career Center.

Roger Bumgardner of American Farm Bureau Insurance Services addressed the audience on types and applications of crop insurance and on the necessary records to maintain to submit a proper claim.

Vickie Holdren, AgVantage Marketing, spoke about alternative methods of marketing commodities to maximize profit potential. She also explained the potential risks involved.

Joel Oney, Farm Credit Services, spoke on credit risks and using borrowed funds to take advantage of opportunities or covering times of poor cash flow.

Following the presentations the panelists were open to questions from the floor and also took private questions from those in attendance.

"By utilizing the ideas and relationships of three counties we were able to assemble a high-powered panel and bring a total program to the membership that otherwise might not have been possible for one county to do," said John Fitzpatrick, OFBF organization director for Wayne, Medina and Ashland counties.