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Hobbyfarmer
Honored Advisor

Point of view

Sat at a table with a community bank loan officer.

 

Nice guy since I didn't need his services.

 

Was from the east half of Iowa, their trade area was interstate 80 and south.

 

Cattle guys are in trouble, especially the feeder calf guys.

 

Said only thing holding some row crop guys together was in his area the farther north 

you went the better the yields were. 240 on the north and clear down to the 175 level on the south side of his area.

The 175 guys went in the red he said.

 

If his trade area had gone farther down into southern Iowa, double digit corn numbers were common .

 

I have no idea how you market yourself to a lender in the southern 1/3 of Iowa with a break even above 175 bpa.

 

Would like to had more time and asked how many wouldn't get financed this year. And a few more things as well.

 

Definitely going to be some kind of change in the near future at these outcomes.

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19 Replies
Hobbyfarmer
Honored Advisor

South American rainfall by day

https://www.star.nesdis.noaa.gov/smcd/emb/ff/HE_SA_24Hour.php

 

 

Scroll down and see it by day last week.

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elcheapo
Veteran Advisor

Re: South American rainfall by day

Looks like Brazil got a drink

 

Talked to fellow in church that's on top of things.

He usually has a happy outlook on things, but

Today things were changed. He was serious.

 

Little if any moisture, and none in sight.

 

Was saying one climatologist says we are way

Overdue of a drought, but same one saying

Good corn yields in top 3 corn states.

 

If USDA comes out and says big wheat crop,

Sonny needs to be fired.

 

Data I'm getting from fellows.,.we should

Be at double digits.

 

When 60 to 70 percent of the crop is poor to very

Poor, and the price goes down.

 

And believe it or not the market gurus don't

Think its going higher !!

 

 

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JimMeade
Veteran Advisor

Re: South American rainfall by day

It's still a global market, elcheapo.

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JimMeade
Veteran Advisor

Re: Point of view

Which HIlls Bank officer was this?

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Hobbyfarmer
Honored Advisor

Re: Point of view

I intentionally did not ask for the name of his employer. He didn't volunteer it.

 

It is just outside of my area of knowing what banks are where.

 

Really think it is not relevant to this forum.

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JimMeade
Veteran Advisor

Re: Point of view

Well, Hills Bank is a major agricultural lender in SE Iowa and if they have some thinking on some topic on agriculture it is good info to know.  They put on a big forum in Riverside last week and at this stage seem pretty positive about agriculture.  Not that there aren't a few iffy accounts, but on the whole they are bullish from what I can tell.  It's always nice to know how comfy the bankers are feeling. 

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Hobbyfarmer
Honored Advisor

Re: Point of view

Wrong bank
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ihtractortherap
Senior Contributor

Re: Point of view

What is supporting land values then? I hear the same story all over, however land is overpriced in my opinion
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sw363535
Honored Advisor

Re: Point of view

when the breakeven yield is above the national average how positive can it be........ 50% of producers have to be in trouble.

 

 

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