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Bugeye
Senior Contributor

Re: Farmland Ceiling Raised…Again/Faust

Mike NCIA, could you tell us what the CSR is on your land? How about your profit per acre? Do you apply pig poop? Did you use a credit card to buy any of it? Did you buy any of it off of a starving widow with thirteen kids ? Do you actually live in Iowa or are you a CPA in Apple Dumpling, Minnesota? Do you own a tractor?Are you going bald? Do you have pimples on your butt? Have you ever picked your nose? If you had a chance to trade your current wife in on one that came with a half section of good Iowa dirt with a CSR over 85, would you do it? If she had a credit card would you that influince your trade?Inquirin' minds wanna know.....well....maybe not.
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rswfarms
Senior Contributor

Re: Farmland Ceiling Raised…Again/Faust

LMAO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

EXCELLENT DAVE,JUST EXCELLENT WITH WHAT YOU HAD WHEN YOU GOT MARRIED!!!!!!!!!!!!!!

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rswfarms
Senior Contributor

Re: Farmland Ceiling Raised…Again/Faust

Yes Mike NCIA, I have been out of town on Crop Insurance Business, looks like the 80% Level gets the max Taxpayer Subsidy of $47.82/acre, and we pay the rest of course. Mike- I would be very curious on what CSR Value/Rating for your total tilable acres are? Over 80? Thanks!!!!!

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rswfarms
Senior Contributor

Re: Farmland Ceiling Raised…Again/Faust

Yes, Blandsandfarmer, been out of town on crop insurance business. But read that article you mentioned and agree with that along with the other things you mentioned on long-term ownership on at least that 80 acres I am trying to buy.Also long-term on my other farland I bought back in 1986 to 1989.

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425Cat
Advisor

Re: Farmland Ceiling Raised…Again/Faust

One should not fear inflation but fear the collapse of the whole system and agland will not come thru unscathed. 2008 was a walk in the park compared to the coming collapse. Take a look at the deriivative exposure  held by the big banks, it is huge.. Take a look at how much the FDIC has behind them to gurantee your depostits. Not near enough.

 

Simple math rules the day.

 

Did you catch Bloombergs comments today , as far as a infinite supply of money. That whats were dealing with here

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Faust100F
Advisor

Re: Farmland Ceiling Raised…Again/Faust


@425Cat wrote:

One should not fear inflation but fear the collapse of the whole system and agland will not come thru unscathed. 2008 was a walk in the park compared to the coming collapse. Take a look at the deriivative exposure  held by the big banks, it is huge.. Take a look at how much the FDIC has behind them to gurantee your depostits. Not near enough.

 

Simple math rules the day.

 

Did you catch Bloombergs comments today , as far as a infinite supply of money.

That whats were dealing with here

 

425 - Wait a minuite!  You mean $17,000,000,000 is not enough to cover all the losses in the US when FDIC goes down the tubes!   I mean . . . I mean . . . I mean . . . 

 

John

 

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Mike NCIA
Veteran Contributor

Re: Farmland Ceiling Raised…Again/Faust

Higher than yours as the corn averaged 220 bushels per acre in 2012.  But  I don't want to brag.  Pocahontas co, IA  That is probably because I farm my own ground.

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Mike NCIA
Veteran Contributor

Re: Farmland Ceiling Raised…Again/Faust

These are the rates here for RP:

2012 insurance.jpg

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rswfarms
Senior Contributor

Re: Farmland Ceiling Raised…Again/Faust

Yes 220 to 230bu with normal rainfall, and 185bu in 2012. So you got a 220bu yield in the worst drought since the 1950's? The 1988 drought was very, very, bad too. Do you remember the 1988 corn yields in your area? You may not have been farming like me. But the average state-wide yield for Iowa was 141 for 2012. You got 80bu over the Iowa average, I find that hard to believe, but I will not call you on it and take your word. As mentioned, I got 185bu in 2012, but maybe you got more rain than my part of Northern Iowa, we got next to nothing in rain and ran completety/mostly on subsoil moisture. Well 220bu*$7.50 Corn price= $1,650. A very good corn sales per acre, notice I said sales#, not profit level. I do not know your fixed/farmland/variable costs, so I do not know your net profit per acre.

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rswfarms
Senior Contributor

Re: Farmland Ceiling Raised…Again/Faust

Faust- on the economy as a whole, I see maybe a small chance of a collaspe. In the Iowa farmland market, I see another 15 to 20% increase for 2013, which is $2,500/acre on 2012 prices of $12,500/acre. Not to bad if it happens. I could be wrong, but I don't so the farmland increase being in the red, and this is with $4 corn in 2013. $4 corn would still produce a positive 2% overall ROI Ratio, not the 50 year average of 4 to 6%, but considering input costs and $4 corn average for 2013, 2% isn't 1/2 bad I feel. That's why I don't see any big Iowa farmland value drop in 2013.

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