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Senior Contributor
Posts: 1,259
Registered: ‎12-17-2012
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Re: Will Corn Prices Increase A Lot In 2013?

SW- not sure what you mean, but a 185bu corn yield in 2012 for Iowa was standard on good-quality land. 185bu*$7.50 corn price= $1,387.50/acre in corn revenue, take off $425/acre for seed, chemicals, a hog manure spreading cost, etc. = $962.50/acre left. Then take off $150/acre in a Custom Farming fee, and you are left with a $812.50 profit per acre. Tell me what's wrong with my numbers? Do you honestly believe it takes more than $575/acre in inputs and Custom Farming fees to grow just 1 acre of corn? What do you think it costs me to grow 1 acre of corn? Tell me, I am interested. And yes, my farmland is paid-off, so a zero farmland mortgage payment per year.

Senior Advisor
Posts: 2,645
Registered: ‎11-02-2010
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Re: Will Corn Prices Increase A Lot In 2013?

[ Edited ]
Quote Originally Posted by rswfarms View Post
Thanks guys for the compliments!!!!!! Been out driving my wife's brand new Lexus SUV today. It's a really nice car, and as quiet as a Library inside. Never realized how quiet a car could be inside, must be built really good to be that quiet. Anyway, she really likes her new Lexus SUV. It was worth every penny of the $63,000 I paid for it. When you got over $750/acre in profits for the 2012 crop year, you have money to burn. I have 1,575 acres so 1,575 * $750/acre in profit= $1,181,250 for a 2012 Total overall farm operation profit. Yes, believe this is the first time I made over a $1 Million Dollar for just 1 crop year. I am finally playing with the Big Boys and it's a darn good feeling to buy just about anything the family wants or pay a $120,000/year in college tuition costs for 3 kids to attend private colleges.
 
YOUR NUMBERS NEVER FREAKING MATCH............NOW ITS 150/ACRE..........I THOUGHT IT WAS 160/ACRE TO CUSTOM FARM IT...........AND THAT DIDNT INCLUDE HAVING IT HAULED............WHAT ABOUT INSURANCE, YOU SAID YOU HAVE STORAGE, WHICH MEANS YOU HAVE SOME INFACSTRUCTURE..............YOU TELLING ME YOU DONT HAVE INSURANCE..........WHAT ABOUT TILING, YOU SAID YOU DO A LOT OF TILING, DOES IT NOT COST SOMETHING......................WHAT ABOUT TAXES????????????????????????????????????????????????
 
I AM SURE THE IRS WOULD BE INTERESTED TO KNOW THIS ESPECIALLY SINCE YOU APPARENTLY WORK AS A CPA IN MINNESOTA, BUT DO BUSINESS IN IOWA....................????????????????????????????????
 
Nothing about you adds up, and I again say...............no one in their right mind comes onto an interenet chat board and spews their balance sheet..............no one.................SO HERE IS THE REAL QUESTION.........
 
IF YOU ARE SOME SORT OF CPA........................OR DO BOOKS OR MANAGE SOMETHING................DO YOUR CLIENTS KNOW YOU SPEW THIS KIND OF INFORMATION AROUND.................HOW ABOUT THE CLIENTS OF THE COMPANY YOU REPRESENT.............DO THEY KNOW YOU THINK ITS OK TO GO AROUND DOING THIS.................?????????????????????????????????????????????????????????????????????????????????????????????????????????
 
ITS A DEAD GIVE AWAY MAN..............NO ONE IN THEIR RIGHT MIND DOES THIS....................
Veteran Advisor
Posts: 905
Registered: ‎05-13-2010
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Re: Will Corn Prices Increase A Lot In 2013?

"185 bushel corn yield standard on good quality ground in 2012"

 

Iowa must have a very limited quantity of "good quality ground" since the state yield is 137 bpa in 2012

Senior Contributor
Posts: 315
Registered: ‎05-13-2010
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Re: Will Corn Prices Increase A Lot In 2013?

BTW the movie deliverence wasn't shot in MO it was shot mostly in Ga. Rswfarms are any of your statements true or well thought out?

Senior Contributor
Posts: 360
Registered: ‎05-16-2010
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Re: Will Corn Prices Increase A Lot In 2013?

Your IQ level only seemed to swing because of the change in people around youSmiley Wink

Frequent Contributor
Posts: 25
Registered: ‎07-25-2012
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Re: Will Corn Prices Increase A Lot In 2013?

What bout the aflatoxin issue?..im not taking sides but the mars dog and cat food mill n my backyard is buying corn from wisconsin on rail because they cant find qaulity corn here..(adm in decatur, il is 20 miles away..thats their international headquarters)..our local coop has had their contract forever but those dogs need only the best...point is where will good qaulity corn come from n april..may?...will they bid up basis or jus shut down for lack of supply?..i know there wasnt a big issue n iowa with this but illinois is #2 n corn production and we got big problems here n central il with qaulity issues...southern half of our state seen average yeilds from 2 to 22 bu/a on corn...aflatoxin levels above 2000 ppb...just an fyi...for whatever its worth
Veteran Advisor
Posts: 5,977
Registered: ‎10-25-2010
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Re: Will Corn Prices Increase A Lot In 2013?

Ray, the local corn 'users' are actively sourcing corn, as we speak, for those remaining few bushels they need.

A few may be able to almost 'scrape by' with what they already have, if there is an early harvest like last year.  The others, are putting the word out that they will be looking.

I have maybe 10K bushels in the bin, not spoken for, and I have already gotten at least 3 calls from users (2 feeders, 1 ethanol plant buyer) who called me, and asked for a chance to buy my corn when I was ready to sell.

Already, I got offers of 'whatever anyone else's posted price is (on the day I want to sell), plus we will let you hire a trucker of your choice, or pay you the same per bushel as a trucker would have, if you deliver it.

Until this year, no one ever calls me, except maybe once in a while a small local feeder, who is only 5 miles away or so, who buys corn in 1000 bushel increments (he says 1000 bushels lasts him a good week).  That makes me think, they are wanting to take actual corn.

If they own calls, the most extra it would cost them, is gain in basis, which I doubt would be all that much.

Advisor
Posts: 479
Registered: ‎06-04-2010
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Re: Will Corn Prices Increase A Lot In 2013?

$ 500 cash rent received Jan 31, 2012 and invested in (insert stock option here)

Stock gained 50% in past 12 months Now original $ 500 is worth $ 750 and I have the cash in hand

Just received my $ 550 cash rent (due Jan 31, 2013) Time to invest my $ 1300 per acre rent into another business

With this kind of ROI, I just don’t understand why anyone would custom farm? I mean, if you still had 80% of your corn not sold and in on farm storage you are one natural disaster (tornado, rot, bugs, etc) away from an insurance check (assuming your paying insurance)! Besides insurance also storage costs and hoping the market goes your way!!

What if we stay dry? Who cares, I live in the city and am a business man with my rent money in hand. If the BTO is not managing his outfit properly, no problem I will find another renter on the corner!

 

My sense of humor may be a little twisted but I just couldn’t resist.

 

Have a great weekend!

Senior Advisor
Posts: 4,440
Registered: ‎06-19-2011
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Re: Will Corn Prices Increase A Lot In 2013?

RSW, seems to me you have stirred the hornets nest with all your financial expertise.  Do you think maybe it's time to give it a rest?  Not trying to second guess anyone here, but appears to me that not to many contributors at the moment give a darn.

Advisor
Posts: 1,937
Registered: ‎05-13-2010
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Re: Will Corn Prices Increase A Lot In 2013?

 RSW after much thought I consider you either a fraud or an idiot, maybe both.  The final straw was bragging over a foreign vehicle.  ALL the farmers I know consider themselves true Americans and would never buy a foreign car.