A general rule of thumb...

When adding a new farm family to the operation, multiply their living expenses by 5 to calculate additional gross revenue needed.

i.e.

$70,000 living expense x 5 = $350,000

This means, in order for the operation to support a new farm family, gross…

The Harvest Proclamation 🍂 was just signed today which will help alleviate transportation issues when moving #soybeans during harvest. Read the full proclamation here >> governor.iowa.gov/press-release/…

The new Braintrust Ag website has some free resources:

• Farm Financial Ratios eBook + Calculator
• Lease vs Buy Equipment Checklist
• Farmland Purchase Checklist
• Risk Assessment Worksheet
• Farm Budget Forecast
• ROFR Template

braintrustag.com/free-resources/

Selling farmland can often cause a big tax hit...

But, you can swap one property for another with a 1031 Exchange.

- Defer capital gains tax
- Upgrade land base

Note: there's a few things to keep in mind.

Use this one-pager to get started.

H/T Jared Gass 🛳 for the insight.

New post, exploring buying land vs upgrading equipment.

Please subscribe if you enjoy reading this kind of content!

Land Purchase Vs. Equipment Financing farm640.com/2023/08/29/lan…

We're optimistic about farmland prices. 🌾 And we're seeking farmers interested in acquiring farmland together. Let's talk! 🚜 #FarmlandInvesting #agtwitter

#Soybeans , #corn supported by yield concerns brownfieldagnews.com/market-news/so…

#commodities Brownfield Ag News

Had a handful of people DM me for the Farm Financial Metric eBook & calculator, so here's the link:

farmfinancialebook.carrd.co

Don't let the challenges of negotiating a land sale intimidate you. Our expert tips and advice will empower you to navigate the process with confidence.
bit.ly/3YGCk6Z

#land #land forsale #land purchase #property #realestateinvesting

#CarbonIntensity is essentially the carbon footprint of a bushel or other product. The #CIScore of our 2024 grains will be incredibly important and could drive hundreds of 💸💸 in value per acre to 🇺🇸 ag! I recommend getting your CI score and getting a plan for 2024 certification

Which of these operations sees better growth in 10 yrs?

A. Conventional row crop, small grain, cow/calf, and feedlot

-10,000 acres
-Owned/managed by 3 siblings

B. Certified organic corn & soybeans

-1,000 acres
-Owner/operator flying solo

Assume both are 'financially healthy'

The trend is your friend until the bend 📈📉

7) Producers were more optimistic about #farmland values in June as both the short and long-run farm #land value indices rose. The short-term index jumped 16 points to a reading of 126, its highest reading since last November. #AgBarometer

Crash course on Credit Bureau Reports and financing:
It is possible to be approved for loans with a low credit score, just expect worse terms like higher interest rates & shorter length. With a strong credit score, you can get lower interest rates and longer note term.
🧵👇

Baby Boomers are set to pass on $68 TRILLION of wealth over the next two decades.

Much is in agricultural assets. The average age of farmers is approaching 60 yrs old.

What an incredible opportunity for farmers, ranchers, and ag-businesses.

Farm Transition Planning is KEY

Happy birthday America! #July4 #IndependenceDay

Michael Girdley I see this in agriculture.

A sustainable model for first generation farmers/ranchers is to:

1. Start a low-capital 'ag-adjacent' side hustle (plus FT job)
2. Build up cash flow + savings, and
3. Leverage into the production farm/ranch.

Provides a runway + diversification.

Cold Calling isn't just for salespeople.

Well, maybe it is... since we're all in sales to some degree.

--> Selling your products & services,

-or-

--> Selling yourself & your vision/passion to landowners, lenders, investors, business partners, etc.

I've been around some…

With notably smaller soybean acres, weather over the next month will be especially significant.

We share our soybean outlook for the next 5, 30 & 90 days: zurl.co/I1g5

Monthly reminder to:

1. Update last month's budget numbers with actuals.

2. Forecast your expectations for next month.