More in Management

  • Jul 30, 2014
    video

    Farmland market outlook 1

    Todd Keuthe, University of Illinois, talks about the market for farmland. "Most farmland owners see it as a long-term investment," Keuthe says. "People are willing to pay 34 times what they expect to earn."...More
  • Jul 29, 2014
    blog

    Will weather and money flow support corn prices? 3

    There is a huge amount of dry powder on the side line to push prices higher if the weather can provide some questions on the way to the finish line. Even with the cooler temps and limited moisture going into the final stages of corn production, yields could see some of the top knocked off and support prices....More
  • Jul 29, 2014
    blog

    Back to the Future, Part 3: Interest rates now vs. 1980s 1

    It is not only today’s low interest rates, but the fact that there has been little movement in rates over almost a half a decade which is interesting. The accommodative Federal Reserve, attempting to stimulate the general economy, has, in turn, stimulated the agriculture and rural economy, putting it on steroids with extreme appreciation in farmland values and a depressed dollar, which has been very beneficial to agricultural export markets....More
  • Jul 25, 2014
    blog

    Ideas you can use to reduce risk 2

    As a farmer, how do you reduce risk? Ideas to accomplish that include: planting offensive and defensive hybrids and planning for multiple alternate future scenarios. Take some time to think about how you might react to reduced rail transportation, expanded GMO bans, an increase in the grain supply outside of the U.S....More
  • Jul 22, 2014
    blog

    Candidate forums highlight Farmfest 1

    Farmfest 2014 will feature an exciting line-up of feature forums, including candidate forums for Minnesota governor, U.S. Senate and congressional candidates from Minnesota’s first, second, sixth and seventh districts. The forums will be held August 5, 6, and 7, in the Wicks Forum Building, near the center of the show site, which is located at the Gilfillan Estate, 7 miles southeast of Redwood Falls, Minnesota....More
  • Jul 21, 2014
    video
    Corn and Soybean Digest

    Cost management strategies 1

    Michael Langemeier, associate director, Center for Commercial Agriculture, Purdue University, talks about managing farm costs. He says growers need to seriously question new machinery purchases and that cash rents should be negotiated. Those two items can help control costs when commodity prices fall below breakeven levels....More
  • Jul 18, 2014
    blog

    Here’s a cash rent approach you can live with 2

    Sam Halcomb calculates a field’s revenue-generating potential, then offers a landlord 25-33% of that for cash rent. He’s found over the years that 25-33% accurately reflects a point where he can profit from current market conditions, while capturing present market values to satisfy the landlord....More
  • Jul 18, 2014
    video

    Marketing strategy for low-priced corn 1

    Matt Roberts, associate professor at Ohio State University, talks about marketing strategies for lower-priced corn. He says corn producers are going to have to be very tactical, as he doesn’t see the high corn prices coming back any time soon. Growers should focus on HTAs and maximize on-farm storage, he says....More
  • Jul 17, 2014
    video
    Corn and Soybean Digest

    Farmers: Be an advocate for agriculture 1

    Agriculture is becoming more and more distant, said David Kohl, professor emeritus, Virginia Tech University, when he spoke with CSD Editor Kurt Lawton at the Wyffels Hybrids Corn Strategies Conference at Wild Rose Farm, Inc., near Galesburg, Ill. “Anyone involved in the ag industry has to be an advocate; not only to other producers, but to the non-farm public,” he says....More
  • Jul 17, 2014
    video
    Corn and Soybean Digest

    Land risk management 1

    CSD Managing Editor Susan WInsor spoke with Mike Boehlje, distinguished professor at Purdue University, about managing land risk. Boehlje talked about buying new land and making sure farmers know the economic value. He also talked about renting land, and the adjustments to be made in leaner years. Boehlje reminds growers to NOT lock in a high price, and suggests that sometimes renting is better than buying, due to the cost....More
  • Jul 15, 2014
    video
    Corn and Soybean Digest

    The farmer as a CEO 1

    David Kohl spoke with CSD Editor Kurt Lawton about the farmer as a CEO, noting that profitable businesses have good people. From allocating profits to working capital and cost of production, as well as lender relationships, Kohl says that being proactive and having the right people around you is going to be critical for success....More
  • Jul 15, 2014
    blog

    Corn, soybean prices drop after July WASDE report 1

    The USDA World Agricultural Supply and Demand Estimates (WASDE) Report released July 11 provided more negative numbers for future corn and soybean prices. The report showed significant increases in the projected ending stocks for both corn and soybeans by Sept. 1, 2015. The report also verified the expectations for very good to excellent 2014 national corn and soybean yields in the U.S. Corn and soybean market prices have dropped dramatically in the past few weeks, which will likely have a significant financial impact on farm operators in the Upper Midwest....More
  • Jul 11, 2014
    video
    Corn and Soybean Digest

    Grain farmers: Know your cost of production 1

    David Kohl, professor emeritus, Virginia Tech University, spoke that the Wyffels Hybrids Corn Strategies Conference at Wild Rose Farm, Inc., near Galesburg, Ill. Kohl stressed the importance of grain and livestock farmers knowing their cost of production in order to be successful....More
  • Jul 11, 2014
    Video
    Corn and Soybean Digest

    Corn market uncertainty 1

    Matt Roberts, associate professor at Ohio State University, spoke at the Wyffels Hybrids Corn Strategies conference in mid-July at the Wild Rose Farm near Galesburg, Ill. Here he talks about the uncertainty of the corn market and prices, adding that there is more uncertainty due to the possibility of corn being added back to livestock rations because of lower corn prices....More
  • Jul 8, 2014
    blog

    Back to the Future, Part 1: Farm economy in 1980s vs. 2010s 1

    One question during a recent forum discussion with ag lenders put me and other professors in the Back to the Future time machine to discuss the similarities and differences in the farm economy now compared to the 1980s....More
  • Jul 1, 2014
    blog

    Economic halftime report

    Globally, the economic slowdown of emerging nations along with unrest in Ukraine, and now Iraq, bears watching. Remember, spikes in oil prices have been a major contributor to every recession since 1969. Overall, both the domestic and global economies are muddling along, uninspired by central bank stimulus both here in United States and abroad....More
  • Jun 30, 2014
    blog

    Are farm land values headed for a downturn?

    The moderation in commodity prices, along with the potential for increases in ag real estate interest rates, will likely continue to put downward pressure on land values. Some farm management analysts have suggested that a combination of these factors could result in average land values dropping by as much as one-third from the highest levels in the next few years....More
  • Jun 27, 2014
    blog

    Judgment, farm experience impact your bottom line 1

    Technology is a great tool, but don’t discount your judgment. When and whether to enter a wet field, identifying broken tile, how you control spray drift, which surfactant to use, when to use glyphosate and at what levels, which stage of cereal rye is easiest to kill it off (avoid the tillering stage)…you get the idea. These judgment calls, based on your experience, are second nature....More
  • Jun 24, 2014
    blog

    Complacency: The Silent Killer 1

    Complacency can be the silent business killer. Peer analysis and benchmarking can be the catalysts that motivate managers to focus on aspects of the business that are done well, and then step outside with the advisory teams and other leading businesses to break into new territory, taking the business to a new level....More
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