The first one arrived today
- Thread starter soybean
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What is funny is your post given he through the question out there inviting comments.
this thread is worthless without pics of your SIL Elizabeth Hurley clone.
Yes about the error. Farmland has been a good investment and with cycles will continue to be that. You aren't sweating the stock market right now as much. One of the things keeping younger people out of farming is that under today's tax laws, families can avoid death taxes. Used to be that land had to be sold to pay taxes or at least a part of it. For people who were blessed by families holding land, it is a huge financial boost to posterity.
I don’t know if my mom and her siblings got anything when my uncle took over the farm or not? Didn’t think it was any of my business, nor have I heard my mom complain about what she got if she did get something. My grandma is still kicking though, 94 years old. Doubt they will get anything when she passes.
Or just an 80 acre farm is over $1m and a combine is $250k (not new).
The barriers to enter are dang near impossible right now.
You almost have to have some type of a relative or VERY good friend.
Anymore, if you have the money to get into farming,.. why would you get into farming?
My point was that you might end up inheriting farm ground as well. My guess is your grandma still owns the land that your uncle farms and when she dies it will go to her children including your mom. Then when your mom passes you will benefit from the farm either through cash that your mother received or actual farm ground of your own.
Granted, I can see the storm cloulds gathering for agriculture. But ,why do these guys always expect someone else to shoulder their load?
They have obviously been raised as Democrats having someone else shoulder the load and bare the burden is their way of life.
I've seen some "funny" things when it comes to farm land.
Some fair, some not.
Sometimes "mom and dad" give special treatment to the son that stayed on the farm to help.
Farm land can ruin a family in the blink of an eye.
Soybeans (Globex) Intraday Commodity Futures Price Chart : CBOT
Soybeans (Globex) daily price charts for the futures contract. See TradingCharts for many more commodity/futures quotes, charts and news.
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I see five waves down on a daily chart. Had to take a shot. I don't trade much anymore.
We will see.
He asked why some people feel the need to have others pay for their issues, which whether you like it or not tends to be the way Liberal Democrats think.
So the answer can become a very political one because it's true.
Soybeans (Globex) Daily Commodity Futures Price Chart : CBOT
Soybeans (Globex) daily price charts for the futures contract. See TradingCharts for many more commodity/futures quotes, charts and news.
futures.tradingcharts.com
Daily chart.
I’m about 95 percent sure my grandma does not own the farm land. Plus she has 7 other siblings. I would bet I will not be inheriting farm land or money from farm land. Even if I did. I wouldn’t go on hawkeye beacon to get a jab in at farmers and I would be happy about what I received.
Have you talked to your sisters about buying you out and providing land values to back your price request?
Alright, but can you show me where I took a jab at farmers so you included me in your inheritance rant?
Sure. Right after you show me where I said you took a jab at farmers. I mentioned that you were crying about your inherited farm land.
Is he though? I understand that soybeans are a farm crop but that doesn’t mean he farms.
Or do do you think I was an iowa football players when we were big ten north champs in 2021
Getting $350/acre on 700 acres in North Iowa from two farmers, in the 2nd year of a 3 year contract. Average yield has been about 250/bpa for corn, so the rent is justified. I trust both of them and they're good land stewards and take care of the buildings too. I don't assume they'll ask for a reduction and will continue to pay what they've been paying so far.
Maybe I went a bit too far as you aren’t complaining like the OP, I apologize. But you did seem pretty quick to defend him.
If you guys had been reading Soybean's posts for the last 10 or 15 years you would know why people are laughing at these comments.
I'll buy 10 of these acres in P county so you won't have to fret about those. Now only 70 to worry about. I'm here for you like that, OP.
I wasn't necessarily defending Soy, I was disputing your comment that it costs more to rent than buy farm ground. Right now farm ground prices are extremely high so renting is cheaper than buying.
Our guy has been around forever. So it’s doubtful, but never know.
This guy was known as a high flyer. Very personable. Spent a lot of money. One of the first things I did after college was deliver foreclosure papers to about the kindest farm family I've ever met. Their son had a tractor accident where a teen girl driving a car was killed.
About the guy in Terre Haute, I called around to other farm managers to see if they knew anything and they didn't and took losses as well as several banks and owners. My own owner was upset with me for wanting to do the lien and I told him I was done working with him w/o it. Was a gamble, but it saved my owner about 200k. Moral of the story is to treat business relationships as business.
Right now farmers are OK, but if farmland values go south, that will change.
I haven't been around near that long. Fact is there are a lot of landowners that have no idea what they are doing. Aside from managing farms, I also answer a lot of landowner questions and do programs on the topic.
We certainly have that rent, and more (organic and seed corn acres) getting paid in our area. I'd bet that majority of my customers high dollar rented acres fall between $300-$325. We don't have a ton of land investors in our area, and the ones that are here are renting to the large farms and not the "family farm". We certainly aren't paying anywhere near $350 for what we rent, but again, that's before non-required bonus payouts that they get on good years, which we've had plenty of lately.
Edit to add that I know of several farms over $400 an acre, but they are investor owned ground. One got terminated last year, thinking they could find a tenant to pay more, and came crawling back to the previous tenant. Greedy land lords..
That's interesting. Plenty of $400+ in our area this year still. I wouldn't call it greedy. As mentioned, one can find plenty of good farmers for that price, but we do have land that hits 300 bu per acre (not every year) and soybeans +85-95.
Where US farmers are behind in competition is the price per acre of machinery. Too much equipment. Labor shortage is a part of that equation, but it depends on what is paid. I'm pretty sure that really good land sells for +15k in central Iowa. A 2.5 percent return is $325 per acre and that isn't greedy. Historical numbers should be +4%. Property taxes here are 2x what Iowa is.
I've managed 3 farms that do amazingly well on yield. One is the equivalent of CSR of about 82. The soils are pretty good, but struggle in dry or wet weather. What do those farms have in common?
1. Exceedingly careful farmers about compaction and erosion
2. 20 inch row spacing.
3. P level tests at least 65-75 pounds per acre (adding more doesn't help)
4. K levels testing at +370-400 but more doesn't help.
5. Modified Strip till
6. Draper Headers
7. No till beans
8. Occasional vertical till to break up fert and lime layering
9. Tile improvement (especially for corn)
10. Abiilty to fix tile/protect and fix waterways.
11. Consistent attitude to improve things.
12. Willingness to change and take advice.
Farmers that don't work out...typically a combo
1. Griping about cash rent - they oft are the one's not fertilizing
2. Massive tillage (recreational)
3. Non communicative (don't file required reports)
4. Farm the ground wet.
5. Not concerned about compaction.
6. Don't want to make improvements
I've worked with about 100 farmers (operations) over the years. I've only non-renewed about 5 (one is now in prison, but boy could he grow corn). Had 5 quit. The rest are either really good or make progressive changes. Most are really glad to see me.
Most landowners can/should manage their farms without a manager if they seek to learn. If interested, I work with the landowner to teach them how to do it should we decide to part ways.
Landowners in a crop share arrangement really need to dig into what is going on. By that point, you might as well manage land yourself.
Giving money to farmers is better than giving money to lazy people who continue to replicate and produce more lazy people. Different types of socialism.
The return on investment to the United States from "farmer socialism" is pretty darn high.
What protections to landlords have against dishonesty with share cropping? That has always been my biggest turnoff to offering share cropping.
My thinking has always been that cash is easier to manage than corn.
So it sounds like you inherited it. I know, sweetie, leasing out inherited land is "such a load to shoulder".
Does the sweat equity he put into taking care of things for mom and dad not have any value? This is a hot button topic for me because my dad was the son who stayed on the farm and took care of my grandparents. I bought the home place from my grandma in 2015 and am now in the same position my dad was in. My sweat equity and being around to help my parents out should be factored in to things when that day comes. I'm not expecting a huge bonus but cutting things in equal shares doesn't seem fair in my mind either. I think my sisters are in agreement with me on that. Divide land equally, but equipment and cattle should be handled differently in my opinion.
