In order to successfully navigate the economic reset, one must factor in outside influences. Factors such as the U.S. economy will bear direct impact on future profit potentials for farm businesses. Monitoring key indicators can help you better direct and focus your strategic planning for future sustainability....More
Increasing foreign grain production, along with global economic weakness and a stronger U.S. dollar, has resulted in a substantial year-over-year reduction in corn exports during the first 18 weeks of the 2015-16 marketing year....More
2016 certainly will not be a boring year. While agriculture has experienced various economic resets before, circumstances today are different. As an interconnected industry, global as well as domestic factors such as, China or the U.S. election will bear direct impact on agriculture and future profits....More
As we end 2015, many farmers are focusing on cash flow strategies for 2016, wondering what the future holds for land values, cash rental rates, and 2015 ARC-CO payment prospects, as well as being concerned how various ag policy issues may play out in a Presidential election year....More
Low prices, weed resistance, environmental concerns and more are giving farmers the opportunity to think different about they way they farm. Stories this year offered insight and tips to thinking different about herbicides, data, planting, nitrogen application and more.
Undoubtedly, the 21st century’s first 15 years were laden with change, challenges, and opportunities. Sound management and financial practices offer a large piece of the profits to those that embrace and execute their strategies....More
This is the second of a two-part article highlighting what happened agriculturally in 2015. Last week’s article provided a review of 2015 crop production and weather conditions. This week we will focus on some highlights regarding input costs, grain prices and the avian flu virus outbreak in 2015....More
In the 5 ag stories to read this week, read some resolutions to help farm finances in 2016, as well as a price outlook for the coming year. Learn about a change in farm program payments and how data can help make your fertilizer more efficient. Finally, enjoy a list of reasons Santa is similar to farmers.
Agronomic practices, fertilizer application, tillage and low prices (and how to deal with them) were just a few hot topics on our website in 2015. Check out these most-read stories; a lot of it will be helpful to know for 2016.
In the 5 ag stories to read this week, get a land value outlook and projections into net incomes for 2015. Read about winter drainage water management and take our latest poll about input cuts. Finally, enjoy a holiday serenade from Farmer Derek.
Regardless of the economic outlook, the cycle, or even where we are in the cycle, it is still good to be a farmer. The agriculture industry is integral to global economics, continuing innovation, and generations of sustainability....More
The recent Trans-Pacific Partnership agreement would reduce more than 18,000 current tariffs that inhibit American products from being exported to the other TPP countries. The agreement would also open up U.S. trading possibilities with a wider range of Asian countries on more goods and services....More
In tough economic times there is sometimes a tendency to ignore or deny reality and hope better times magically reappear. Instead, reach out and use the resources around you. Attend meetings and engage with your lender, supplier, and peers. Networking can be extremely useful in developing strategies and actions to navigate tough economic times....More
Leaders say change happens through growth over time. I hope we can all try to get outside our comfort zone. Taking that first step can lead to less fear and put us on the road to greater success....More
In the 5 agriculture stories to read, access a new risk-management website for farmers and see estimates for 2015 ARC-CO payments. Read about hired worker and wage increases for 2015 and learn about cloud-based farm-management software that helps save time and improve budget planning. Finally, enjoy the latest pro-ag parody from the Peterson Farm Bros.
Many factors in the agricultural economy are leading farmers to consider leasing new equipment purchases instead of an outright purchase. It’s important to consider both the pros and cons to this decision and consider what effect lease vs. purchase decisions have on the tax return....More
The wildcard in this economic reset will not be your lender, the agribusiness industry, or government response; it is the regulator. Like many others in the industry, regulators are readying for headlines and stories of economic stress within various commodity groups. Their reaction to these headlines, however, will largely determine the ability of an individual producer or agribusiness to successfully obtain credit....More
Workers hired directly by farm operators numbered 841,000 for the reference week of October 11-17, 2015, up 8% from the October 2014 reference week. There were 872,000 workers hired directly by farm operators on the Nation’s farms and ranches during the week of July 12-18, 2015, up 4% from the July 2014 reference week....More
As the agriculture industry continues to reset, these stories should command particular attention. Changing trends and lack of accurate financials have the ability to shut down your profits. Business planning, monitoring and execution hold great power in your business success....More
Two factors are leading some farm operators to be overly optimistic about crop income expectations for 2016, and is also resulting in some landlords being unwilling to reduce high cash rental rates for the 2016 crop year....More
As landowners calculate farmland rental rates for the coming year, they may want to consider completing the process with a written cropland rental or lease agreement. Such a document can go far to protect both landowners and tenants, says Rory Lewandowski, an Ohio State University Extension agriculture and natural resources educator....More
As the 2015 corn and soybean harvest season is wrapping up, some producers have wondered if there will be any 2015 crop insurance payments, given the decline in crop prices. However, most crop producers in the Upper Midwest had above average yields in 2015, and crop prices have not dropped as dramatically, which will make 2015 crop insurance payments less likely....More