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Veteran Advisor

For a worthless crop

Just about every soybean field is being no tilled
Into wheat...plus the other acres already planted.
Drove by elevator and wheat 3.38
Milo 305

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8 Replies
Honored Advisor

Re: For a worthless crop

You need to only be a student of history for the last 100 years. Happens every time severe  financial distress hits farm country,

  

Wall to wall crops are planted. 

 

Right after ww 1

Right after the stock market crash in 29

Mid fifties, soil bank was created for the bankers

80's , cows went away and pastures were farmed,  then CRP (just reworked soil bank) 

Ethonal postponed this one , but guess what....

 

Truth of the matter is history repeats 

 

As a friend of mine used to say

 

"I'll sit in the cheap seats in the balcony" "pass the popcorn and hand me another Corona"

 

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Veteran Advisor

Re: For a worthless crop

Double cropping?  What will follow wheat?

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Veteran Advisor

Re: For a worthless crop

after wheat harvest possible to plant soybeans, milo, sunflowers, corn.....all short season of course, if there is enough moisture.

 

hobby the only problem is........I get dizzy with height.......and have to admit, can't set on the first few rows...

I'm a diabetic and should avoid the popcorn and beer........

 

so what am I to do ?????

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Honored Advisor

Re: For a worthless crop

Punt

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Honored Advisor

Re: For a worthless crop

Does history repeat or does it rhyme?  "This time" bankers didn`t borrow 80% of a farm`s value, so when they do foreclose, they won`t lose anything.  In the 80`s some farmers weren`t sold out only because the red ink would`ve broke the small town bank.   And "this time" there`s tons of outside money came into farming, cardealers and other unrelated businesses plowed money into farming, as a tax dodge and farming these days is just so goll darned much fun!  Smiley Happy  

 

The aforementioned farms bought $5,000 land in 2007 and $13,000 land in 2011 and at a auction today they bid and buy $9,000 land today and whether land is $20,000 or $2,000 5yrs from now, they`ll be biddin` and buyin`.  And maybe that`s a good thing, because the only repeat of the 80`s would be a land crash....well Paul Volker as the new Fed chairman.

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Veteran Advisor

Re: For a worthless crop

I don't think all that much land is going to non-farming money.

https://www.extension.iastate.edu/agdm/wholefarm/html/c2-78.html

At the auctions I've attended and heard of, the land was bought by another farmer, often a fence-neighbor.

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Veteran Advisor

Re: For a worthless crop

Well, elcheapo, it sounds like you can make twice as much money as the rest of us if you're raising two crops.

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Honored Advisor

Re: For a worthless crop

Well, Jim it`s "farmers" that already own successful other businesses like a seed company or implement dealership or contracting business or selling cars.   There`s a implement dealer around here that buys land like it`s going out of style, if it fits his radius of operation he just plain buys it, I mean if there`s a sale next week of 300 acres in his 25 mile radius he says "I`m gonna buy it" and he goes and buys it, doesn`t bat an eye.

 

Back when farming wasn`t so much fun, 8 row machinery and required cultivating skills and such, there wasn`t the outside money that has poured in.   I agree it isn`t so much Chicago doctors and dentists buying land, but the guy that starts up a chemical retail business that goes gangbusters, well he takes the endless supply of money and buys land for his farmer brother to farm.  A former farmboy that "does well" invests in land cause "they ain`t makin` anymore of it" and his BTO brother farms it.

 

There`s a difference too in if you buy your machinery and inputs from the sale of grain or if your play money comes from your spec home construction business, this fall those are the one`s confident enough to have plowdown fall fertilizer spread.   I depend on selling $2.96 corn, so I`m more in a wait & see before I put in a call to the coop. 

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