January, 2009

Congratulations to My Childhood Hero

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January 28th, 2009

Jim Rice, an outfielder for the Boston Red Sox, was finally voted into the Baseball Hall of Fame today. I was in high school in the mid to late 70’s when Jim Rice was playing for the Red Sox and he was by far my favorite baseball player of that era. He retired almost 20 […]

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Don’t Wait Too Long

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January 25th, 2009

The Department of Agriculture released many crop reports today. As a result, corn, soybeans and wheat prices were sharply lower on the cash and futures markets. In many cases, the drop was 10% or more.  Prices has steadily risen over the last few weeks and there were many chances to lock in a profit on […]

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The Mustard Seed

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January 20th, 2009

I have given many financial seminars where I start out with the story of two employees.. Each employee is giving the option of receiving $1,000 per day in wages for 28 days or starting with a penny and having their wage double each day. Most people assume the $1,000 per day will be a much […]

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Super Bowl of Farming

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January 17th, 2009

The Super Bowl of Football is coming up in about two weeks. I have always thought that the game of football has many similarities to the business of farming. During the off and pre-season, the team is acquiring talent based upon their needs and goals for the upcoming season. As farmers, during this off-season, we […]

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The Rule of 72

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January 16th, 2009

During several of meetings with clients during each year, a client will ask me a question about how much money they will have in a number of years. Sometimes, for fun, I will try do this in my head and I will generally be very close. For example, they will state they have $100,000 to […]

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Down Time is Go Time

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January 13th, 2009

This time of year for most farmers is a period of down time. There may some crops that are planted, but dormant. Some farmers spend time maintaining their equipment for the new year. I think this time is what I call “Go Time.” This is the time to: Prepare and review your operating budget for […]

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Communicate, Communicate, Communicate

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January 12th, 2009

The old saying in real estate is that the only three things that matter are location, location, and location. To me, the three things that matter most in succession planning is communicate, communicate, and communicate. Verbal communication between each of the generations involved is the important first step. What does the generation passing on the farm want […]

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    Corn does well in Washington state. 55 at night 95 during the day plus irrigation 9 hours ago

    If average cash rents drop $50 this fall and cash return is 2% equals drop in average land values of $2,500. We shall see. 20 hours ago

    2 years ago corn + beans + wheat was almost $40. Now it is under $20. 22 hours ago

    Great time with @MRRChip today on Market Rally talking about the new farm bill. 2 days ago

    Drove over 2,000 miles in last 12 days. Saw a lot of good looking corn. Beans not so much 4 days ago

    When you drive through Minnesota, South Dakota and Iowa this time of year you see a lot of corn and beans and not much else 2 weeks ago

    Possible another reason for high US corn yield estimates is acres switched to beans were lower yield corn acres 2 weeks ago

    Don't understand why nobody claims the USDA manipulates the data when the report is bullish 2 weeks ago

    USDA pegged lower corn production but if yields trends continue this will quickly change to production increase. 2 weeks ago

    The soybean YO-YO is well underway 2 weeks ago