Reading Time: 3 minutes With most farmers or ranchers spending an average of 50 years or more on their farms – where land is both a lifestyle and legacy – it’s a wonder why so many of these businesses (over 80%) fail to plan for the next generation of business and ownership. Look closely, …
Reading Time: 1 minute If you’re still using Excel and other software programs to track crop rotation and inputs, but are struggling to tally the full costs involved in all the crops you grow, you are missing out on the total profitability picture. Running your business without complete and accurate data is certain to …
Reading Time: 2 minutes Today’s ag environment shows commodity prices are below break-even for some operators, while barely budging the break-even level for others. Economists have referred to this situation as “a grinder effect.” Meaning, the profitability level is grinding away at working capital little by little. Ultimately, this effect impacts the efforts needed …
Reading Time: 2 minutes Agriculture is steadily adopting the use of blockchain technology to improve sustainability by enabling the entire food supply chain – growers, processors, manufacturers, retailers and consumers – to employ a framework that helps with delivery of comprehensive transparency for consumers, as well as deter the growing presence of food fraud. …
Reading Time: 3 minutes With the way 2019 has started, no one is expecting it to be an easy year for cash flow. We are hearing from many agribusinesses that their current financial stress is high and causing increased stress in other areas of their business and personal affairs. While it is normal for …
Reading Time: 2 minutes The U.S. Department of Agriculture (USDA) has established the procedures required to provide direct payments to growers to help offset some damage imposed by retaliatory tariffs. As a result of the lapse in federal funding due to the recent government shutdown, the Farm Service Agency (FSA) has extended deadlines for …
Reading Time: 1 minute By now, people around the globe know it’s been a particularly tough year for U.S. agriculture. Don’t think for a second that your banker isn’t among them. Lenders have been vigilant in monitoring the eroding profit margins for many agribusinesses, and if you’re not trying to improve your borrowing position, you …
Read moreImproving Lending Chances & Truths about Alternative Lending
Reading Time: 1 minute Following the authorization of the second MFP payments, here are a few key points that growers should keep top of mind for operational and financial planning: As line of credit renewals are generally discussed with lenders now or within the next few months, producers should provide MFP documentation to the …