Skip to main content

Posts

Showing posts from July, 2017

Outlook for 2017 Corn and Soybeans

By David Bau, Extension Educator

I was asked to speak at FARMFEST on a panel discussing Strategies for Farming in Challenging Times.  I thought I would examine some of the reasons for the stress in farming.  If you look at 2016 farming result for corn and soybean producers, the numbers are better than they were in 2015 according to FINBIN figures, but on average 1382 corn farmers in Minnesota lost $62.35 per acre, while making $7.88 per acre on soybeans.  This compares to a loss of $55.07 per acre for corn in 2015 and income of $8.34 for soybeans.  A trend of larger losses was created from 2015 to 2016 even while input costs including rent rates declined and yields increased. Results in the marketing groups I work with, shows better income on 2016 crop sales than 2015 crop but did not cover their total costs in either year.

So what about 2017?  Each year farmers in my marketing groups determine breakeven prices needed to cover their crop input costs and living expenses.  The average b…

Farm Transition and Estate Planning Workshop on August 3

by Betty Berning
Extension Educator

“Farm Business Transition: Where Do I Begin?"  is scheduled for August 3rd at Ridgewater Campus in Willmar,.  The workshop is $40 per family, $15 for Ag Professionals.  To pre-register for the workshop by July 31st contact Kami Schoenfeld at 320.212.5255.
In “Farm Business Transition: Where Do I Begin?,” participants get a greater understanding of establishing intergenerational communications, the process of transferring labor-income-management-assets, determining the financial viability of the farm business, retirement issues for the senior generation and establishing goals as the foundation for beginning the farm business transition process. As part of the workshop, participants will be given time to discuss issues and complete worksheets related to the application of the different sections of the workshop. The result is a process for farm families to begin transferring the farm business to the next generation.
The workshop is jointly sponsored b…

Summer fun with Women in Ag Network!

by Betty Berning Extension Educator
Women in Agriculture Network (WAGN) is excited to announce a summer tour to Redhead Creamery in Brooten, MN.

The tour will take place on August 16, 2017 from approximately 10:30AM-5PM.  The afternoon features lunch at the creamery, tour of the farm, and a discussion on managing a family business.  Coach bus transportation will be provided and pick-ups will be late morning at University of Minnesota Mid-Central Research and Outreach Center in Willmar, MN; St. Cloud Regional Extension Office; and Sauk Centre Wal-Mart.    Registrants will receive more details about pick-up and drop-off details closer to the event date.
Betty Berning, Extension Educator, shares, “We asked women for feedback on a summer networking event and have created the tour to Redhead based on their responses.  Women were clear that they wanted time to network and relax, while learning about a farm to market business.  Participants will have the opportunity to socialize and learn more …